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Licorice Extract Market Report by Product Type, Form, Application, and Region 2024-2032

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    Report

  • 137 Pages
  • April 2024
  • Region: Global
  • IMARC Group
  • ID: 5769180
Description Jump to:
The global licorice extract market size reached US$ 2,070.6 Million in 2023. Looking forward, the market is projected to reach US$ 3,175.7 Million by 2032, exhibiting a growth rate (CAGR) of 4.87% during 2023-2032.

Licorice extract is a herbal extract derived from wild and organically grown Glycyrrhiza glabra licorice roots. It has a sweet and aromatic flavor and is produced by boiling the pulp of licorice roots. It is commonly available in paste, liquid, block and powdered forms that are used as a natural sweetener and flavoring agent in candies, beverages and medicines. It exhibits various anti-inflammatory, anticancer, antimicrobial and antioxidant properties that aid in the treatment of hot flashes, acid reflux, digestive ailments, menopausal symptoms, heartburn and bacterial and viral infections. Licorice extract also aids in treating peptic ulcers, hepatitis C, preventing cavities, improving blood sugar levels and promoting weight loss. As a result, it finds extensive application across various industries, such as pharmaceutical, cosmetics and food and beverage.

Licorice Extract Market Trends

Significant growth in the food and beverage industry is one of the key factors creating a positive outlook for the market. Licorice extract is widely used in food products as a food additive or natural sweetener in cake batters, chewing gums, sweet custard and can also be mixed into a meat rub as a flavor enhancer. Additionally, the increasing product demand in the pharmaceutical industry is favoring the market growth. Licorice extract is widely used to manufacture medicines for indigestion, toothache, asthma, fever, bronchitis and skin infections. Moreover, the shifting consumer preference toward organic products, especially among the millennials due to the rising health consciousness, is providing a thrust to the market growth. In line with this, the widespread product adoption in the tobacco industry as a de-bittering agent is positively impacting the market growth. Other factors, including rising expenditure capacities of the consumers, along with the widespread product adoption in the cosmetic industry as a natural skin brightener, are anticipated to drive the market toward growth.

Key Market Segmentation

This report provides an analysis of the key trends in each sub-segment of the global licorice extract market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product type, form and application.

Breakup by Product Type:

  • Food Grade
  • Feed Grade
  • Pharmaceutical Grade

Breakup by Form:

  • Block
  • Powder
  • Paste
  • Others

Breakup by Application:

  • Food and Beverages
  • Pharmaceutical
  • Tobacco
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and VPL Chemicals Pvt Ltd.

Key Questions Answered in This Report

1. What was the size of the global licorice extract market in 2023?
2. What is the expected growth rate of the global licorice extract market during 2024-2032?
3. What are the key factors driving the global licorice extract market?
4. What has been the impact of COVID-19 on the global licorice extract market?
5. What is the breakup of the global licorice extract market based on the product type?
6. What is the breakup of the global licorice extract market based on the form?
7. What is the breakup of the global licorice extract market based on the application?
8. What are the key regions in the global licorice extract market?
9. Who are the key players/companies in the global licorice extract market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Licorice Extract Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Food Grade
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Feed Grade
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Pharmaceutical Grade
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Form
7.1 Block
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Powder
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Paste
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Food and Beverages
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Pharmaceutical
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Tobacco
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Alfarid Corporation Limited
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 AOS Products Pvt. Ltd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Avestia Pharma
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 C.E. Roeper GmbH
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 F&C Licorice Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Herbochem
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Hyundai Bioland
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Mafco Worldwide LLC
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Maruzen Pharmaceuticals Co. Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Norevo GmbH
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Shaanxi FUJIE Pharmaceutical Co. Ltd.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 VPL Chemicals Pvt Ltd
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Licorice Extract Market: Major Drivers and Challenges
Figure 2: Global: Licorice Extract Market: Sales Value (in Million US$), 2018-2023
Figure 3: Global: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 4: Global: Licorice Extract Market: Breakup by Product Type (in %), 2023
Figure 5: Global: Licorice Extract Market: Breakup by Form (in %), 2023
Figure 6: Global: Licorice Extract Market: Breakup by Application (in %), 2023
Figure 7: Global: Licorice Extract Market: Breakup by Region (in %), 2023
Figure 8: Global: Licorice Extract (Food Grade) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Licorice Extract (Food Grade) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Licorice Extract (Feed Grade) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Licorice Extract (Feed Grade) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Licorice Extract (Pharmaceutical Grade) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Licorice Extract (Pharmaceutical Grade) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Licorice Extract (Block) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Licorice Extract (Block) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Licorice Extract (Powder) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Licorice Extract (Powder) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Licorice Extract (Paste) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Licorice Extract (Paste) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Licorice Extract (Other Forms) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Licorice Extract (Other Forms) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Licorice Extract (Food and Beverages) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Licorice Extract (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Licorice Extract (Pharmaceutical) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Licorice Extract (Pharmaceutical) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Licorice Extract (Tobacco) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Licorice Extract (Tobacco) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Licorice Extract (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Licorice Extract (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: North America: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: North America: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: United States: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: United States: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Canada: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Canada: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Asia-Pacific: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Asia-Pacific: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: China: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: China: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Japan: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Japan: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: India: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: India: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: South Korea: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: South Korea: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Australia: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Australia: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Indonesia: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Indonesia: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Others: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Others: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Europe: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Europe: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Germany: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Germany: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: France: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: France: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: United Kingdom: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: United Kingdom: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Italy: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Italy: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Spain: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Spain: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Russia: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Russia: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Others: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Others: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Latin America: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Latin America: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Brazil: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Brazil: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Mexico: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Mexico: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Others: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Others: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Middle East and Africa: Licorice Extract Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Middle East and Africa: Licorice Extract Market: Breakup by Country (in %), 2023
Figure 78: Middle East and Africa: Licorice Extract Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Global: Licorice Extract Industry: SWOT Analysis
Figure 80: Global: Licorice Extract Industry: Value Chain Analysis
Figure 81: Global: Licorice Extract Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Licorice Extract Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Licorice Extract Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
Table 3: Global: Licorice Extract Market Forecast: Breakup by Form (in Million US$), 2024-2032
Table 4: Global: Licorice Extract Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Licorice Extract Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Licorice Extract Market: Competitive Structure
Table 7: Global: Licorice Extract Market: Key Players

Companies Mentioned

  • 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.

Methodology

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Table Information

Report AttributeDetails
No. of Pages137
PublishedApril 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 139 Million
Forecasted Market Value ( USD ) by 2032 $ 229.6 Million
Compound Annual Growth Rate5.7%
Regions CoveredGlobal
No. of Companies Mentioned12

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About the Market

The Licorice Extract market is a subset of the Health Food and Sports Nutrition industry. It is composed of products that contain licorice extract, a natural sweetener derived from the root of the licorice plant. Licorice extract is used in a variety of health food and sports nutrition products, such as energy bars, protein powders, and supplements. It is known for its sweet taste and is often used as a sugar substitute. Licorice extract is also known for its health benefits, such as aiding digestion, reducing inflammation, and boosting the immune system. The Licorice Extract market is growing as more people become aware of its health benefits. Consumers are increasingly looking for natural alternatives to sugar and artificial sweeteners, and licorice extract is becoming a popular choice. Companies in the Licorice Extract market include NOW Foods, Nature's Way, Swanson Health, and Gaia Herbs. Show Less Read more

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