Licorice Extract Market size to grow by USD 758.97 million between 2022 to 2027| The growing awareness of health benefits of licorice extract drives market growth- Technavio

NEW YORK, Sept. 24, 2023 /PRNewswire/ -- The Licorice Extract Market size is expected to increase by USD 758.97 million, accelerating at a CAGR of 6.68% during the forecast period. Growing awareness regarding licorice extract for health benefits is notably driving the licorice extract market. However,  factor such as growing concern regarding sustainability and sourcing of licorice root may impede market growth. The market is segmented by application (Pharmaceuticals, Food and beverages, Tobacco, and Others), type (Powder, Liquid, and Block), and geography (APAC, Europe, North America, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. Request Free sample report now

Licorice Extract Market: Key Segment Analysis
The pharmaceutical segment is expected to show a substantial growth during the forecast period. It is primarily driven by the rising utilization of licorine extracts in pharmaceutical applications owing to their diverse medicinal attributes. Furthermore, the continuous advancements in research and technology have expedited the incorporation of licorine extracts into a wide array of pharmaceutical products. Notably, licorice extract finds significant use in addressing respiratory ailments within the pharmaceutical industry.

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Licorice Extract Market: Geographical Market Analysis 

APAC is estimated to contribute 34% to the growth of the global market during the forecast period. The licorice extract market growth is driven by factors such as increasing consumer preferences for natural and health-oriented ingredients, the substantial size of the consumer population, and the growing traction of traditional medicinal practices.

Licorice Extract Market: Company Insights
The licorice extract market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:

• AOS Products Pvt. Ltd.
• Bio Botanica Inc.
• C.E. Roeper GmbH
• Givaudan SA
• Herbal Creations
• Mafco Worldwide LLC
• Maruzen Pharmaceutical Co. Ltd.
• Norevo GmbH
• Shaanxi FUJIE Pharmaceutical Co. Ltd.
• Zagros Licorice co.
• Aushadhi Herbal
• Avestia Pharma
• Biofermen Pvt. Ltd.
• Extroil Naturals
• Herbs and Essential Oils Pvt. Ltd.
• NATIVE EXTRACTS Pty Ltd.
• Phyto Life Sciences P. Ltd.
• Venkatesh Natural Extract Pvt. Ltd.
• Viridian International Ltd.
• VPL Chemicals Pvt. Ltd.
• SA Herbal Bioactives LLP

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Table of Contents:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Sizes
5. Five Forces Analysis
6. Market Segmentation by Application
7. Market Segmentation by Type
8. Market Segmentation by Geography
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, & Trends
12. Company Landscape
13. Company Analysis
14. Appendix

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