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With a projected CAGR of 6.30 percent from 2024–2031, the global market for licorice extracts is projected to grow from $2.97 billion in 2023 to $4.90 billion in 2031.
Expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis, deficit analysis of supply chain and demand, and insights on market scenarios like market value, growth rate, segmentation, geographical coverage, and major players are all part of the market reports curated by Data Bridge Market Research.
Licorice is also known as Glycyrrhiza glabra. The organically growing licorice roots that are native to the Mediterranean, Central Asia, and China are the source of licorice extract. Licorice root extracts are used in medicine and can be found in powdered or liquid form. The extract is made by boiling the roots of the Mediterranean plant licorice (Glycyrrhiza glabra). In addition to its use in herbal treatments, it is also used as a flavoring ingredient and sweetener. The extract has detoxifying, antiviral, and anti-inflammatory characteristics.
Glycyrrhiza glabra is another name for licorice. The medicinal plant extracts are derived from the plants' roots. Root extracts of the licorice plant are fragrant, sweet, and flavorful. Southern Europe, Western Asia, and North Africa are the original habitats of these plants. The component glycyrrhizin, which is approximately 30-50 times sweeter than sugar, is largely responsible for the sweetness found in licorice extracts. Afghan, Indian, Chinese, Italian, Iranian, Pakistani, Azerbaijani, Turkmenistani, Uzbek, Turkish, and Iraqi soils are typical for licorice cultivation. The pharmaceutical, cosmetics, food and beverage, and cigarette industries all make extensive use of it.
For thousands of years, people in Asia have turned to licorice root and extract for relief from a wide range of medical issues, including indigestion, asthma, and inflammation. There are over 300 chemicals in licorice root, and they all have different effects, including anti-inflammatory, anti-viral, and anti-microbial. Historically, licorice has a long history of medicinal use, including the relief of acid reflux, ulcers, toothaches, indigestion, asthma, fever, bronchitis, and coughs. There are new areas where this treatment is particularly effective, such as hepatitis C, cancer memory loss, and skin infections.
A wide variety of foods and drinks incorporate licorice extract into their flavor profiles. It can also be used to make some foods taste sweeter. However, there are other natural sweeteners and food additives that may be found in stores. More people use and are familiar with stevia, a natural sweetener. Another plant that is found in nature that is commonly used as a substitute for licorice is anise, which has a flavor that is extremely similar. Licorice extract has alternatives, such as fennel, basil, chervil, tarragon, and tea tree, which are plants that occur natively there. These substitutes reduce the appeal of licorice extract as a healthy sweetener and flavor enhancer, which in turn slows down the expansion of the licorice extract market.
Over the forecast period, the licorice extracts market is expected to grow due to factors such as the increasing demand for organic products, the rising usage of licorice roots in a variety of goods, and the rising use of sweeteners in food products. Other factors anticipated to propel the licorice extracts market forward include the medicinal properties of licorice, which have led to their increased usage in products like desserts. Additionally, licorice extracts are being preferred over other conventional extracts in food and beverage products. Lastly, there has been an uptick in awareness regarding the benefits of licorice extracts. The demand for licorice extracts surged, positively impacting market growth, as consumers became more aware of the health benefits. The rising desire for natural, organic, and clean label products has also been good for the global licorice extract market.
As a result of people being more health conscious, the licorice extract sector has been positively affected by the pandemic. The supply networks were thrown for a loop during the initial three months of the COVID-19 epidemic. Nevertheless, pharmaceutical demand has been expanding at a rapid pace during the past year. The COVID-19 pandemic has changed consumer habits, leading to an increase in demand for natural, organic, and clean label products in the food and drink and personal care sectors.
Report Coverage
Global Licorice Extract research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Licorice Extract report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Licorice Extract competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Licorice Extract market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Licorice Extract market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Licorice Extract market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
NOREVO GMBH, BEIJING GINGKO GROUP, .C.E. ROEPER GMBH, .ZAGROS LICORICE CO., MAFCO WORLDWIDE LLC (Part of World Earth Brands Group), MARUZEN PHARMACEUTICALS CO., LTD, GLYCYRRHIZA GLABRA CO., LTD, RANSOM NATURALS LTD, F&C LICORICE LTD., SHAANXI FUJIE PHARMACEUTICAL CO., LTD, FC Licorice (Israel), Sepidan Osareh Jonoob Co. (Iran), VPL Chemicals (India), Aushadhi Herbal (India), Nutra Green Biotechnology Co.,Ltd. (China), Avestia Pharma (India),Botanic Healthcare (India).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Licorice Extract market based on the below-mentioned segments:
Global Licorice Extract Market, By Product Type
Food Grade
Feed Grade
Pharmaceutical Grade
Global Licorice Extract market, By Application
Food & Beverages
Pharmaceutical
Tobacco
Others
Global Licorice Extract Market, By Form
Powder
Liquid
Block
Global Licorice Extract market, Regional Analysis
Expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis, deficit analysis of supply chain and demand, and insights on market scenarios like market value, growth rate, segmentation, geographical coverage, and major players are all part of the market reports curated by Data Bridge Market Research.
Licorice is also known as Glycyrrhiza glabra. The organically growing licorice roots that are native to the Mediterranean, Central Asia, and China are the source of licorice extract. Licorice root extracts are used in medicine and can be found in powdered or liquid form. The extract is made by boiling the roots of the Mediterranean plant licorice (Glycyrrhiza glabra). In addition to its use in herbal treatments, it is also used as a flavoring ingredient and sweetener. The extract has detoxifying, antiviral, and anti-inflammatory characteristics.
Glycyrrhiza glabra is another name for licorice. The medicinal plant extracts are derived from the plants' roots. Root extracts of the licorice plant are fragrant, sweet, and flavorful. Southern Europe, Western Asia, and North Africa are the original habitats of these plants. The component glycyrrhizin, which is approximately 30-50 times sweeter than sugar, is largely responsible for the sweetness found in licorice extracts. Afghan, Indian, Chinese, Italian, Iranian, Pakistani, Azerbaijani, Turkmenistani, Uzbek, Turkish, and Iraqi soils are typical for licorice cultivation. The pharmaceutical, cosmetics, food and beverage, and cigarette industries all make extensive use of it.
For thousands of years, people in Asia have turned to licorice root and extract for relief from a wide range of medical issues, including indigestion, asthma, and inflammation. There are over 300 chemicals in licorice root, and they all have different effects, including anti-inflammatory, anti-viral, and anti-microbial. Historically, licorice has a long history of medicinal use, including the relief of acid reflux, ulcers, toothaches, indigestion, asthma, fever, bronchitis, and coughs. There are new areas where this treatment is particularly effective, such as hepatitis C, cancer memory loss, and skin infections.
A wide variety of foods and drinks incorporate licorice extract into their flavor profiles. It can also be used to make some foods taste sweeter. However, there are other natural sweeteners and food additives that may be found in stores. More people use and are familiar with stevia, a natural sweetener. Another plant that is found in nature that is commonly used as a substitute for licorice is anise, which has a flavor that is extremely similar. Licorice extract has alternatives, such as fennel, basil, chervil, tarragon, and tea tree, which are plants that occur natively there. These substitutes reduce the appeal of licorice extract as a healthy sweetener and flavor enhancer, which in turn slows down the expansion of the licorice extract market.
Over the forecast period, the licorice extracts market is expected to grow due to factors such as the increasing demand for organic products, the rising usage of licorice roots in a variety of goods, and the rising use of sweeteners in food products. Other factors anticipated to propel the licorice extracts market forward include the medicinal properties of licorice, which have led to their increased usage in products like desserts. Additionally, licorice extracts are being preferred over other conventional extracts in food and beverage products. Lastly, there has been an uptick in awareness regarding the benefits of licorice extracts. The demand for licorice extracts surged, positively impacting market growth, as consumers became more aware of the health benefits. The rising desire for natural, organic, and clean label products has also been good for the global licorice extract market.
As a result of people being more health conscious, the licorice extract sector has been positively affected by the pandemic. The supply networks were thrown for a loop during the initial three months of the COVID-19 epidemic. Nevertheless, pharmaceutical demand has been expanding at a rapid pace during the past year. The COVID-19 pandemic has changed consumer habits, leading to an increase in demand for natural, organic, and clean label products in the food and drink and personal care sectors.
Report Coverage
Global Licorice Extract research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Licorice Extract report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Licorice Extract competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Licorice Extract market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | NOREVO GMBH, BEIJING GINGKO GROUP, .C.E. ROEPER GMBH, .ZAGROS LICORICE CO., MAFCO WORLDWIDE LLC (Part of World Earth Brands Group), MARUZEN PHARMACEUTICALS CO., LTD, GLYCYRRHIZA GLABRA CO., LTD, RANSOM NATURALS LTD, F&C LICORICE LTD., SHAANXI FUJIE PHARMACEUTICAL CO., LTD, FC Licorice (Israel), Sepidan Osareh Jonoob Co. (Iran), VPL Chemicals (India), Aushadhi Herbal (India), Nutra Green Biotechnology Co.,Ltd. (China), Avestia Pharma (India),Botanic Healthcare (India). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Licorice Extract Market from 2021 to 2031.
- Market Forecast for Licorice Extract Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Licorice Extract competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Licorice Extract
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Licorice Extract market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Licorice Extract market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
NOREVO GMBH, BEIJING GINGKO GROUP, .C.E. ROEPER GMBH, .ZAGROS LICORICE CO., MAFCO WORLDWIDE LLC (Part of World Earth Brands Group), MARUZEN PHARMACEUTICALS CO., LTD, GLYCYRRHIZA GLABRA CO., LTD, RANSOM NATURALS LTD, F&C LICORICE LTD., SHAANXI FUJIE PHARMACEUTICAL CO., LTD, FC Licorice (Israel), Sepidan Osareh Jonoob Co. (Iran), VPL Chemicals (India), Aushadhi Herbal (India), Nutra Green Biotechnology Co.,Ltd. (China), Avestia Pharma (India),Botanic Healthcare (India).
Primary Target Market
- Market Players of Licorice Extract
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Licorice Extract market based on the below-mentioned segments:
Global Licorice Extract Market, By Product Type
Food Grade
Feed Grade
Pharmaceutical Grade
Global Licorice Extract market, By Application
Food & Beverages
Pharmaceutical
Tobacco
Others
Global Licorice Extract Market, By Form
Powder
Liquid
Block
Global Licorice Extract market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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