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Global Licorice Extract Market Research Report: Forecast (2023-2028)

By Product Type (Food Grade, Feed Grade, Pharmaceutical Grade), By Form (Powder, Liquid, Block), By End Users (Food & Beverages , Pharmaceuticals, Tobacco, Others), By Region (Nort......h America, South America, Europe, The Middle East & Africa, Asia Pacific), By Company (Alfarid Corporation Limited, AOS Products Pvt. Ltd., Avestia Pharma, C.E. Roeper GmbH, F&C Licorice Ltd., Herbochem, Hyundai Bioland, Mafco Worldwide LLC, Maruzen Pharmaceuticals Co. Ltd., Norevo GmbH, Shaanxi FUJIE Pharmaceutical Co. Ltd., VPL Chemicals Pvt Ltd. , Beijing Gingko Group , Glycyrrhiza Glabra Co. Ltd., Ransom Naturals Ltd., Others) Read more

Healthcare
Jul 2023
Pages 197
Report Format: PDF, Excel, PPT

Market Definition

Licorice also known as ‘liquorice’ is defined as a sweet-flavored root of the Glycyrrhize glabra plant. This plant’s root is used as a flavoring agent in many of the food products, such as candies, confectionery & bakery products, etc. as well as in medicines. It is the native to North Africa, Western Asia, and Southern Europe.

Market Insights & Analysis: Global Licorice Extract Market (2023-28):

The Global Licorice Extract Market size is valued at around USD 2.12 billion in 2022 & is estimated to grow at a CAGR of about 5.2% during the forecast period, i.e., 2023-28. The market is poised to grow owing to the rising health concerns & prevalence of diseases like diabetes, celiac disease, and several other chronic ailments among the population across the globe. Due to its medicinal properties, it is widely utilized in the pharmaceutical or medical sector. Licorice has more than 300 compounds, having numerous properties, such as anti-inflammatory, anti-microbial, anti-viral, etc. It is majorly used for treating stomach ulcers, toothaches, indigestion, asthma, bronchitis, heartburn, and cough. Along with this, it is observed that licorice is getting widely used in producing new medicines for hepatitis C, cancer, skin infections, and memory loss.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	5.2%
Regions Covered	North America: US, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
	South America: Brazil, Argentina, Rest of South America
	Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled	Alfarid Corporation Limited, AOS Products Pvt. Ltd., Avestia Pharma, C.E. Roeper GmbH, F&C Licorice Ltd., Herbochem, Hyundai Bioland, Mafco Worldwide LLC, Maruzen Pharmaceuticals Co. Ltd., Norevo GmbH, Shaanxi FUJIE Pharmaceutical Co. Ltd., VPL Chemicals Pvt Ltd. , Beijing Gingko Group , Glycyrrhiza Glabra Co. Ltd., Ransom Naturals Ltd., Others
Market Value (2022)	USD 2.12 Billion

As licorice has a sweet taste, it is witnessing a soaring demand from the food & beverage industry for making candies, bakery products, sweet dishes, drinks, mock tales, and many more, thus contributing to enhancing the Licorice Extract Market growth. However, as licorice is not the only natural sweetener & there are several alternatives such as stevia, anise, and others present in the market, which are also commonly used worldwide, would act as a restraint for the market growth.

Moreover, with the boom in the adoption of organic & natural products, owing to their health benefits & being a clean label, the Global Licorice Extract Market sale is presumed to upscale in the forthcoming period, as they are natural flavoring agents & are included in preparing or producing any clean label item.

Global Licorice Extract Market Driver:

Mounting Utilization of the Licorice Extract in the Cosmetic Industry & Its Numerous Benefits to Drive the Market – Licorice extract has been used to treat various illnesses like inflammation, gastrointestinal issues, and respiratory problems. However, its integration into making cosmetic products is also witnessing a surge, thus driving the market. Across the globe, there is a high demand for advanced beauty & cosmetic products that are highly efficient, natural & safe, etc., owing to the rising consciousness among individuals about their looks & appearance. Also, as this extract act as an anti-inflammatory & skin-lightening substance, they are getting frequently deployed in a wide range of cosmetic items, thus supporting the Global Licorice Extract Market growth.

Global Licorice Extract Market Research Report (2023-2028) - Table of Contents

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Global Licorice Extract Market Regulations & Policy
Global Licorice Extract Market Trends & Developments
Global Licorice Extract Market Dynamics
1. Growth Drivers
2. Challenges
Global Licorice Extract Market Hotspots & Opportunities
Global Licorice Extract Market Supply Chain Analysis
Global Licorice Extract Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product Type
    1. Food Grade- Market Size & Forecast 2018-2028, USD Million
    2. Feed Grade- Market Size & Forecast 2018-2028, USD Million
    3. Pharmaceutical Grade- Market Size & Forecast 2018-2028, USD Million
  2. By Form
    1. Powder- Market Size & Forecast 2018-2028, USD Million
    2. Liquid- Market Size & Forecast 2018-2028, USD Million
    3. Block- Market Size & Forecast 2018-2028, USD Million
  3. By End Users
    1. Food & Beverages- Market Size & Forecast 2018-2028, USD Million
    2. Pharmaceutical- Market Size & Forecast 2018-2028, USD Million
    3. Tobacco- Market Size & Forecast 2018-2028, USD Million
    4. Others- Market Size & Forecast 2018-2028, USD Million
  4. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia-Pacific
  5. By Company
    1. Market Share & Analysis
    2. Competition Characteristics
North America Licorice Extract Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product Type- Market Size & Forecast 2018-2028, USD Million
  2. By Form- Market Size & Forecast 2018-2028, USD Million
  3. By End Users- Market Size & Forecast 2018-2028, USD Million
  4. By Country
    1. The US
    2. Canada
    3. Mexico
3. The United States Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
4. Canada Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
5. Mexico Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
South America Licorice Extract Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product Type- Market Size & Forecast 2018-2028, USD Million
  2. By Form- Market Size & Forecast 2018-2028, USD Million
  3. By End Users- Market Size & Forecast 2018-2028, USD Million
  4. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
4. Argentina Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
Europe Licorice Extract Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product Type- Market Size & Forecast 2018-2028, USD Million
  2. By Form- Market Size & Forecast 2018-2028, USD Million
  3. By End Users- Market Size & Forecast 2018-2028, USD Million
  4. By Country
    1. Germany
    2. The UK
    3. France
    4. Italy
    5. Spain
    6. Rest of Europe
3. Germany Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
4. The UK Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
5. France Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
6. Italy Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
7. Spain Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
The Middle East & Africa Licorice Extract Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product Type- Market Size & Forecast 2018-2028, USD Million
  2. By Form- Market Size & Forecast 2018-2028, USD Million
  3. By End Users- Market Size & Forecast 2018-2028, USD Million
  4. By Country
    1. The UAE
    2. Saudi Arabia
    3. South Africa
    4. Rest of the Middle East & Africa
3. The UAE Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
4. Saudi Arabia Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
5. South Africa Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
Asia-Pacific Licorice Extract Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Product Type- Market Size & Forecast 2018-2028, USD Million
  2. By Form- Market Size & Forecast 2018-2028, USD Million
  3. By End Users- Market Size & Forecast 2018-2028, USD Million
  4. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Australia
    6. Rest of Asia-Pacific
3. China Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
4. India Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
5. Japan Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
6. South Korea Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
7. Australia Licorice Extract Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Product Type- Market Size & Forecast 2018-2028, USD Million
    2. By Form- Market Size & Forecast 2018-2028, USD Million
    3. By End Users- Market Size & Forecast 2018-2028, USD Million
Global Licorice Extract Market Key Strategic Imperatives for Success & Growth
Competition Outlook
1. Competition Matrix
  1. Product Portfolio
  2. Target Markets
  3. Research & Development
  4. Strategic Alliances
  5. Strategic Initiatives
2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
  1. Alfarid Corporation Limited
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. AOS Products Pvt. Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Avestia Pharma
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. C.E. Roeper GmbH
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. F&C Licorice Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Herbochem
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Hyundai Bioland
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Mafco Worldwide LLC
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Maruzen Pharmaceuticals Co. Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Norevo GmbH
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. Shaanxi FUJIE Pharmaceutical Co. Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  12. VPL Chemicals Pvt Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  13. Beijing Gingko Group
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  14. Glycyrrhiza Glabra Co. Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  15. Ransom Naturals Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  16. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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