Liquorice Extracts Market to See Growth at a Rate of 4.30% By 2030 | Top Players: NOREVO, Zagros Liquorice co., MAFCO Worldwide LLC
Market Analysis and Insights of Global Licorice
Extracts Market
Data Bridge Market Research analyses that the
liquorice extracts market is expected to reach USD 4.30 billion by 2030, which
was USD 2.37 billion in 2022, registering a CAGR of 4.30% from 2023 to 2030. In
addition to the insights on market scenarios such as market value, growth rate,
segmentation, geographical coverage, and major players, the market reports
curated by the Data Bridge Market Research also include in-depth expert
analysis, geographically represented company-wise production and capacity,
network layouts of distributors and partners, detailed and updated price trend
analysis and deficit analysis of supply chain and demand.
liquorice
extract is an
herbal extract derived from organically and wild-grown glycyrrhiza glabra
liquorice roots. It has an aromatic and sweet flavor and is prepared by boiling
the pulp of liquorice roots. It is generally available in liquid, blocks,
paste, and powdered forms and used as a flavoring agent and natural sweetener
in beverages, candies, and medicines. It exhibits numerous anti-inflammatory,
antimicrobial, anticancer, and antioxidant properties that help treat
menopausal symptoms, hot flashes, acid reflux, heartburn and bacterial,
digestive ailments, and viral infections.
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Market Scope and Global
Licorice Extracts Market
The major players covered in the licorice
extracts market report are FC Liquorice, Iranlicorice.com, NOREVO, Zagros
Liquorice co., MAFCO Worldwide LLC, VPL Chemicals., RANSOM NATURALS LTD,
Aushadhi Herbal, Aseh Co., Green Wave Ingredients Inc., Sanat Products LTD.,
Maruzen Pharmaceutical Co., Ltd., Alfarid Corporation Limited., Nutra Green
Biotechnology Co.,Ltd., Avestia Pharma, Mafco Worldwide LLC, Mitsubishi
Corporation Life Sciences Limited., HYUNDAI BIOLAND, among other domestic and
global players. Market share data is available for global, North America,
Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America
separately. DBMR analysts understand competitive strengths and provide
competitive analysis for each competitor separately.
Global
Liquorice Extracts Market Scope
The liquorice extracts market is segmented on the basis of
product, form, grade, application and distribution channel. The growth amongst
these segments will help you analyze meagre growth segments in the industries
and provide the users with a valuable market overview and market insights to
help them make strategic decisions for identifying core market applications.
Product
- Glycyrrhizin
- Glycyrrhizinate
- Flavonoids
- Others
Form
- Blocks
- Paste
- Powder
- Granules
- Semi Liquid or Liquid
Grade
- Food
- Pharmaceutical
- Feed
Application
- Food and Beverages
- Tobacco Products
- Cosmetics and Personal Care
- Pharmaceuticals
- Others
Distribution
Channel
- Online
- Offline
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Global
Liquorice Extracts Market Dynamics
Drivers
- Rising health
consciousness among consumers
With
the increasing awareness among consumers regarding the harmful effects of
synthetic and chemical ingredients, people are now more inclined towards using
organic and natural products. This is one of the major factors expected to
drive the growth of the liquorice extract market because it is a natural
ingredient with an extensive range of health benefits. Hence, increasing health
consciousness among consumers is likely to propel market growth.
- Increasing demand
for liquorice extracts from the food and beverage
industry
Liquorice
extracts powder is widely used as a flavoring agent in the food and beverage
industry owing to its sweet taste. Furthermore, it has various health benefits,
such as treating lung, liver, circulatory, and kidney diseases, attracting
manufacturers' attention toward its usage in various food and beverage
products. Thus, the growing demand for liquorice extracts from the food and
beverage industry will likely boost market growth.
Opportunities
- Growth and
expansion of the cosmetics industry
The
cosmetics industry is growing at a rapid pace globally, and this trend is
anticipated to continue in the upcoming years. The demand for liquorice extract
from the cosmetics industry is compelled by its ability to reduce pigmentation
and lighten skin tone. Furthermore, it has skin-soothing and anti-inflammatory
properties, making it a perfect ingredient for numerous cosmetic products.
Therefore, the growth and expansion of the cosmetics industry will create
lucrative opportunities for market growth.
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