The Global Licorice Extract Market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth include rising awareness among consumers regarding the health benefits of licorice extract.
Liquorice, or Glycyrrhizaglabra, is another name for Licorice. Licorice extract comes from wild and organically growing licorice roots found in Central Asia, China, and Mediterranean. These extracts, which are extracted from licorice roots are available in powdered or liquid form, and are used in medicines. Boiling licorice roots (Glycyrrhiza glabra), a plant native to Mediterranean region, produces the extract. It is utilized as a sweetener and flavoring agent in addition to herbal remedies. Anti-inflammatory, antiviral, and detoxifying properties are all present in extract.
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Top Leading Players in Licorice Extract Market:
- Mafco Worldwide LLC
- Maruzen Pharmaceuticals Co., Ltd
- Norevo GmbH
- Shaanxi Fujie Pharmaceutical Co, Ltd
- C.E. Roeper GmbH
- Glycyrrhiza Glabra Co., Ltd
- Zagros Licorice Co.
- Zelang Group
- VPL Chemicals PVT Ltd.
- SepidanOsareh Co.
Some Driving Factors of Licorice Extract Market:
- Growing Demand in the Food and Beverage Industry: Licorice extract is widely used as a flavoring and sweetening agent in the food and beverage industry. The increasing consumer preference for natural and herbal ingredients in food and beverages has driven the demand for licorice extract.
- Rising Demand for Natural and Herbal Products: With the growing awareness of the potential health benefits associated with natural and herbal products, there has been an increased demand for licorice extract in various industries, including pharmaceuticals, cosmetics, and personal care. Licorice extract is known for its anti-inflammatory, antioxidant, and antimicrobial properties, making it an attractive ingredient for these sectors.
- Traditional Medicinal Uses: Licorice has been used in traditional medicine for centuries due to its potential therapeutic properties. The demand for licorice extract has been driven by its use in traditional remedies and the increasing interest in natural alternatives to conventional medicines.
- Growing Health and Wellness Consciousness: Consumers are becoming more health-conscious and seeking natural and healthy products. Licorice extract is perceived as a natural ingredient and has gained popularity as a dietary supplement and herbal remedy, contributing to the growth of the market.
- Increasing Application in the Cosmetic Industry: Licorice extract is widely used in cosmetics and personal care products due to its skin brightening, anti-inflammatory, and moisturizing properties. The rising demand for natural and organic cosmetics has fueled the adoption of licorice extract in various skincare and haircare products.
Licorice Extract Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Food Grade
- Feed Grade
- Pharmaceutical Grade
Form Outlook (Revenue, USD Billion; 2018-2028)
- Powder
- Paste
- Block
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Food Beverages
- Tobacco Products
- Cosmetics Personal Care
- Pharmaceutical
- Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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