Licorice Extract Market Size, Share and Forecast Analysis to 2028

 

Future of Licorice Extract Market: Key Dynamics, Size & Share Analysis

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. 

Top Challenges Impacting the Licorice Extract Market Growth

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.

Understanding the Core Segments in the Licorice Extract Market

Licorice Extract Market Size, Share & Industry Trends Analysis- By Product Type (Food Grade, Feed Grade, Pharmaceutical Grade), By Form (Powder, Liquid, Block), By End Users (Food & Beverages , Pharmaceuticals, Tobacco, Others.

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Geographical Analysis of the Licorice Extract Market

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Asia-Pacific is projected to witness a rapid upgrade in the market & is poised to contribute to the substantial market share of the global industry.

Who Dominates the Licorice Extract Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

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. and others.

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