Licorice extract is derived from licorice root which is widely used as a medicinal herbs across the globe. The extract is produced by boiling licorice root and subsequently evaporating most of the water. It is a natural ingredient which is available in liquid or powdered root form. Traditionally, licorice was used as an herbal medicine in China bit now it is used by the tobacco industry and also widely used as a flavoring agent by the various food and beverages industry such as in tea, confectionary and others. Increasing demand for plant based natural sweetener and flavor is expected to support the licorice extract market growth during the forecast period.
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Some of the key players operating in licorice extract market includes MAFCO Worldwide LLC, Norevo GmbH, F&C Licorice, Ransom Naturals, Zagros Licorice, Aushadhi Herba, Sepidan Osareh and VPL Chemicals among others.
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Licorice extract is segmented on the basis of application which includes food industry, pharmaceutical industry, feed industry cosmetic industry and others. Among all these segment pharmaceutical industry is expected to represent major value share during the forecast period. Increased medicinal usage of licorice extract coupled with rising opportunities of licorice extract in prevention of cancer is expected to drive the segment growth over the forecast period. Food industry is expected to represent favorable growth in licorice extract market in the near future.
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The study objectives are:
To analyze and research the global Licorice Extract Powder status and future forecast, involving capacity, production, value, consumption, growth rate (CAGR), market share, historical and forecast.
To present the key Licorice Extract Powder manufacturers, capacity, production, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of Licorice Extract Powder are as follows:
History Year: 2014-2019
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
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