Global Licorice Extract Market 2023-2027
The licorice extract market is forecasted to grow by USD 758.97 mn during 2022-2027, accelerating at a CAGR of 6.68% during the forecast period. The report on the licorice extract market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing awareness regarding licorice extract for health benefits, the rising popularity of natural skincare products, and the rising popularity of licorice flavor in confectionery products.
Technavio's licorice extract market is segmented as below:
By Application
- Pharmaceuticals
- Food and beverages
- Tobacco
- Others
By Type
By Geography
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the rising demand for natural and organic products as one of the prime reasons driving the licorice extract market growth during the next few years. Also, the expansion of the pharmaceutical and nutraceutical industry and the rise in the adoption of licorice extract from online platforms will lead to sizable demand in the market.
The report on the licorice extract market covers the following areas:
- Licorice extract market sizing
- Licorice extract market forecast
- Licorice extract market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading licorice extract market vendors that include AOS Products Pvt. Ltd., Bio Botanica Inc., C.E. Roeper GmbH, Givaudan SA, Herbal Creations, Mafco Worldwide LLC, Maruzen Pharmaceutical Co. Ltd., Norevo GmbH, Shaanxi FUJIE Pharmaceutical Co. Ltd., Zagros Licorice co., Aushadhi Herbal, Avestia Pharma, Biofermen Pvt. Ltd., Extroil Naturals, Herbs and Essential Oils Pvt. Ltd., NATIVE EXTRACTS Pty Ltd., Phyto Life Sciences P. Ltd., Venkatesh Natural Extract Pvt. Ltd., Viridian International Ltd., VPL Chemicals Pvt. Ltd., and SA Herbal Bioactives LLP. Also, the licorice extract market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.