Market Overview:
The global licorice root market is expected to register a CAGR of 5.5% during the forecast period, 2018-2030. The food & beverage industry is the largest application segment for licorice root extracts, followed by the tobacco industry. The increasing demand for natural ingredients in food and beverage products is driving the growth of the global licorice root market. Additionally, rising awareness about health benefits associated with consumption of licorice roots is also propelling market growth. Some of the key players operating in this market are: Astragalus Membranaceus Inc., Dandelion Herbal Ltd., Eu Yan Sang International Ltd., Foshan Haitian Flavouring & Food Co Ltd.
Product Definition:
Licorice root is a plant that is native to Europe and Asia. It has been used for medicinal purposes for centuries. Licorice root is a natural source of glycyrrhizin, which is an anti-inflammatory agent. It can be used to treat a variety of conditions, such as respiratory problems, liver disease, and ulcers. Licorice root can also be used as a flavoring agent in foods and beverages.
Roots:
Roots, also known as licorice or in Chinese lili, is a plant that has black/purple/red stem and white flowers. The plant grows naturally in the Asia Pacific region and is cultivated commercially for its sweet-tasting roots.
Extracts:
Extracts are the volatile oils and fats that are obtained from plant materials through solvent extraction process. The most commonly used solvents for extracting oil from plants include ethanol, water, and petroleum ether.
The major types of extracts include essential oils and flavor & fragrance extracts.
Application Insights:
The food and beverage industry accounted for the largest share of more than 40% in 2017. The product is widely used as a sweetener, flavoring agent, and preservative in various foods such as carbonated soft drinks (CSD), fruit juices & beverages, dairy products, bakery & confectionery items. In addition, it is also utilized to improve texture and reduce calories in functional foods.
Tobacco products are anticipated to witness significant growth over the forecast period owing to increasing use of flavored tobacco products including pipe tobacco/ cigars which contain licorice extract as a key ingredient for their flavor. Furthermore, growing consumption of snuff due to its anti-inflammatory properties is expected fuel segment growth over the next few years.
Regional Analysis:
Asia Pacific was the largest regional market in 2017 and is expected to continue its dominance over the forecast period. The region accounts for a major share of global consumption, production as well as import/export. China and India are among the top three licorice-producing countries globally. Japan is one of the largest consumers of licorice products accounting for more than 50% of total Asia Pacific demand in 2017. Growing middle-class populations along with increasing disposable income levels in developing countries including China, Indonesia, Vietnam, Thailand and India are expected to drive product demand over the next eight years.
North America accounted for a significant share owing to high consumer awareness regarding health benefits coupled with growing popularity of dietary supplements among millennials & geriatric population seeking taste alternatives other than sugar sweeteners such as agave nectar or artificial flavors such as vanillin or stevia leaf extract etc.). U.S.
Growth Factors:
- Increasing demand for natural and organic products
- Rising awareness about the health benefits of licorice root
- Growing popularity of herbal supplements and remedies
- Proliferation of online retail channels that sell licorice root products
- increasing research on the therapeutic potential of licorice root
Scope Of The Report
Report Attributes
Report Details
Report Title
Licorice Root Market Research Report
By Type
Roots, Extracts
By Application
Food & Beverage Industry, Tobacco Industry, Pharmaceutical Industry, Cosmetic Industry, Dietary Supplements
By Companies
Norevo, Mafco Worldwide, F&C Licorice, Zagros Licorice, Sepidan Osareh, VPL Chemicals, ASEH Licorice, Zelang, Maruzen Pharmaceuticals, Ransom Naturals
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
196
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Licorice Root Market Report Segments:
The global Licorice Root market is segmented on the basis of:
Types
Roots, Extracts
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food & Beverage Industry, Tobacco Industry, Pharmaceutical Industry, Cosmetic Industry, Dietary Supplements
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Norevo
- Mafco Worldwide
- F&C Licorice
- Zagros Licorice
- Sepidan Osareh
- VPL Chemicals
- ASEH Licorice
- Zelang, Maruzen Pharmaceuticals
- Ransom Naturals
Highlights of The Licorice Root Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Roots
- Extracts
- By Application:
- Food & Beverage Industry
- Tobacco Industry
- Pharmaceutical Industry
- Cosmetic Industry
- Dietary Supplements
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Licorice Root Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Consumer Insights
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Licorice root is a perennial herb that grows up to one meter tall. The leaves are compound, with serrated margins and a smooth surface. The flowers are small and white, and the fruit is a black pod.
Some of the major players in the licorice root market are Norevo, Mafco Worldwide, F&C Licorice, Zagros Licorice, Sepidan Osareh, VPL Chemicals, ASEH Licorice, Zelang, Maruzen Pharmaceuticals, Ransom Naturals.
The licorice root market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Licorice Root Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Licorice Root Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Licorice Root Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Licorice Root Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Licorice Root Market Size & Forecast, 2018-2028
4.5.1 Licorice Root Market Size and Y-o-Y Growth
4.5.2 Licorice Root Market Absolute $ Opportunity
Chapter 5 Global Licorice Root Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Licorice Root Market Size Forecast by Type
5.2.1 Roots
5.2.2 Extracts
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Licorice Root Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Licorice Root Market Size Forecast by Applications
6.2.1 Food & Beverage Industry
6.2.2 Tobacco Industry
6.2.3 Pharmaceutical Industry
6.2.4 Cosmetic Industry
6.2.5 Dietary Supplements
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Licorice Root Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Licorice Root Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Licorice Root Analysis and Forecast
9.1 Introduction
9.2 North America Licorice Root Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Licorice Root Market Size Forecast by Type
9.6.1 Roots
9.6.2 Extracts
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Licorice Root Market Size Forecast by Applications
9.10.1 Food & Beverage Industry
9.10.2 Tobacco Industry
9.10.3 Pharmaceutical Industry
9.10.4 Cosmetic Industry
9.10.5 Dietary Supplements
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Licorice Root Analysis and Forecast
10.1 Introduction
10.2 Europe Licorice Root Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Licorice Root Market Size Forecast by Type
10.6.1 Roots
10.6.2 Extracts
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Licorice Root Market Size Forecast by Applications
10.10.1 Food & Beverage Industry
10.10.2 Tobacco Industry
10.10.3 Pharmaceutical Industry
10.10.4 Cosmetic Industry
10.10.5 Dietary Supplements
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Licorice Root Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Licorice Root Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Licorice Root Market Size Forecast by Type
11.6.1 Roots
11.6.2 Extracts
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Licorice Root Market Size Forecast by Applications
11.10.1 Food & Beverage Industry
11.10.2 Tobacco Industry
11.10.3 Pharmaceutical Industry
11.10.4 Cosmetic Industry
11.10.5 Dietary Supplements
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Licorice Root Analysis and Forecast
12.1 Introduction
12.2 Latin America Licorice Root Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Licorice Root Market Size Forecast by Type
12.6.1 Roots
12.6.2 Extracts
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Licorice Root Market Size Forecast by Applications
12.10.1 Food & Beverage Industry
12.10.2 Tobacco Industry
12.10.3 Pharmaceutical Industry
12.10.4 Cosmetic Industry
12.10.5 Dietary Supplements
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Licorice Root Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Licorice Root Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Licorice Root Market Size Forecast by Type
13.6.1 Roots
13.6.2 Extracts
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Licorice Root Market Size Forecast by Applications
13.10.1 Food & Beverage Industry
13.10.2 Tobacco Industry
13.10.3 Pharmaceutical Industry
13.10.4 Cosmetic Industry
13.10.5 Dietary Supplements
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Licorice Root Market: Competitive Dashboard
14.2 Global Licorice Root Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Norevo
14.3.2 Mafco Worldwide
14.3.3 F&C Licorice
14.3.4 Zagros Licorice
14.3.5 Sepidan Osareh
14.3.6 VPL Chemicals
14.3.7 ASEH Licorice
14.3.8 Zelang, Maruzen Pharmaceuticals
14.3.9 Ransom Naturals
