Global Licorice Extract Market is valued at approximately USD $billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.75% over the forecast period 2022-2030.
Licorice extracts and roots have been used for thousands of years, notably in Asia, to cure several diseases such as digestive trouble, respiratory disorders, and inflammation. Licorice contains about 300 chemicals, many of which have anti-viral, anti-microbial, and anti-inflammatory activities. The market growth is driven by key factors such as growing demand for natural and organic products and increasing demand for plant-based natural ingredients.
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For instance, as per Statista, in 2017, organic food sales in the United States amounted to around USD 45.2 billion. which is increased to USD 56.5 billion in 2020. Furthermore, rising investment in research and development propels the market opportunities in the forecast years.
Naturex announced in March 2019 that it could invest in coloring meals with Vegebrite Ultimate Spirulina. A new extraction line, which triples spirulina production capacity, has been installed at the company’s Avignon, France, production location. However, increase in the cost of raw materials impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Licorice Extract Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is leading the global market, owing to growing applications of licorice along with scarcity in production. However, North America is projected to be the fastest growing region, due to rising occurrence of various habitual disorders, such as diabetes and obesity.
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Major market players included in this report are:
ASEH Licorice MFG & Exp. Co.,
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Key Questions Answered in the Market Report
? How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies? ? What is the outlook for the impact market during the forecast period 2021-2030? ? What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration? ? What is the end user perception toward? ? How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021? ? What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration? ? What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration? ? What are the key strategies adopted by companies in the impact market? ? What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030? ? What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market? ? Who are the key end users of pharmaceutical quality? What is their respective share in the impact market? ? Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030? ? Which are the key players in the impact market?
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