Global Liquorice Extracts Market – Industry Trends and Forecast to 2030

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Liquorice Extracts Market Analysis and Size

The growing demand for herbal and natural remedies and the food and beverage industry's expansion increase the demand for liquorice extracts. Its usage has recognized licorice therapeutic benefits in traditional Chinese medicine, documented for over 3000 years. In the last few years, there has been increased interest in licorice as a treatment for lung infections, stomach ulcers, and skin disorders. As a result, liquorice extracts potentially benefit general health, and herbal and natural medications are growing in popularity in the upcoming years.

Data Bridge Market Research analyses that the liquorice extracts market is expected to reach USD 4.30 billion by 2030, which was USD 2.37 billion in 2022, registering a CAGR of 4.30% from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.     

Liquorice Extracts Market Scope and Segmentation

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Market Definition

liquorice extract is an herbal extract derived from organically and wild-grown glycyrrhiza glabra liquorice roots. It has an aromatic and sweet flavor and is prepared by boiling the pulp of liquorice roots. It is generally available in liquid, blocks, paste, and powdered forms and used as a flavoring agent and natural sweetener in beverages, candies, and medicines. It exhibits numerous anti-inflammatory, antimicrobial, anticancer, and antioxidant properties that help treat menopausal symptoms, hot flashes, acid reflux, heartburn and bacterial, digestive ailments, and viral infections.

Global Liquorice Extracts Market Dynamics

Drivers

• Rising health consciousness among consumers

With the increasing awareness among consumers regarding the harmful effects of synthetic and chemical ingredients, people are now more inclined towards using organic and natural products. This is one of the major factors expected to drive the growth of the liquorice extract market because it is a natural ingredient with an extensive range of health benefits. Hence, increasing health consciousness among consumers is likely to propel market growth.

• Increasing demand for liquorice extracts from the food and beverage industry

Liquorice extracts powder is widely used as a flavoring agent in the food and beverage industry owing to its sweet taste. Furthermore, it has various health benefits, such as treating lung, liver, circulatory, and kidney diseases, attracting manufacturers' attention toward its usage in various food and beverage products. Thus, the growing demand for liquorice extracts from the food and beverage industry will likely boost market growth.

Opportunities

• Growth and expansion of the cosmetics industry

The cosmetics industry is growing at a rapid pace globally, and this trend is anticipated to continue in the upcoming years. The demand for liquorice extract from the cosmetics industry is compelled by its ability to reduce pigmentation and lighten skin tone. Furthermore, it has skin-soothing and anti-inflammatory properties, making it a perfect ingredient for numerous cosmetic products. Therefore, the growth and expansion of the cosmetics industry will create lucrative opportunities for market growth.

• Increasing awareness among consumers regarding the beneficial properties of liquorice extract

Increasing consumer awareness regarding the beneficial properties of liquorice extract will likely create ample opportunities for market growth. Liquorice extract has various health benefits, including stress reduction, because it produces adrenaline and releases cortisol. Furthermore, it also helps in regular stomach cleaning by efficiently treating various gastrointestinal issues such as stomach ulcers, food poisoning, and heartburn, among others. As a result, these factors are anticipated to boost market growth throughout the forecast period.

Restraints/ Challenges

• Health concerns associated with large liquorice consumption

Liquorice extracts are known to comprise compounds that can adversely affect health if consumed in large amounts or for long periods. These include compounds such as glycyrrhizin, which can cause high blood pressure, and carbenoxolone, which can cause gastric ulcers. The result of all these factors hampers the market growth.

• Fluctuating prices of raw materials

Liquorice extracts are derived from the licorice plant's root, which is grown widely in China. Any fluctuation in the costs of licorice roots can directly impact the cost of liquorice extracts. Therefore, volatility in the prices of raw materials is likely to hinder the market's growth during the forecast period.

This liquorice extracts market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the liquorice extracts market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2021, Mafco launched new category-specific, multi-tasking Magna-Brand products that find today's most challenging products. They have launched their latest multi-tasking Magna-Brand products that, by selective compounding, are some of the most productive and cost-effective for Taste Modulation.

Global Liquorice Extracts Market Scope

The liquorice extracts market is segmented on the basis of product, form, grade, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Glycyrrhizin
• Glycyrrhizinate
• Flavonoids
• Others

Form

• Blocks
• Paste
• Powder
• Granules
• Semi Liquid or Liquid

 Grade

• Food
• Pharmaceutical
• Feed

Application

• Food and Beverages
• Tobacco Products
• Cosmetics and Personal Care
• Pharmaceuticals
• Others

Distribution Channel

• Online
• Offline

 Liquorice Extracts Market Regional Analysis/Insights

The liquorice extracts market is analyzed and market size insights and trends are provided by country, product, form, grade, application and distribution channel as referenced above.

The countries covered in the liquorice extracts market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Europe dominates the liquorice extracts market because of increasing customer preference toward ingestion products that are naturally made in this region. Furthermore, the rising demand for licorice extract for the production of mono ammonium glycyrrhizinate will further boost the market's growth in this region.

North America is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the increasing number health aware customers in this region. Moreover, increasing incidences of numerous chronic disorders, such as obesity and diabetes, will further boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Liquorice Extracts Market Share Analysis

The liquorice extracts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to liquorice extracts market.

Some of the major players operating in the liquorice extracts market are:

• FC Licorice (Israel)
• Sepidan Osareh Jonoob Co. (Iran)
• MAFCO Worldwide LLC (U.S.)
• VPL Chemicals (India)
• Aushadhi Herbal (India)
• MARUZEN PHARMACEUTICALS CO., LTD. (Japan)
• Nutra Green Biotechnology Co.,Ltd. (China)
• Avestia Pharma (India)
• C.E. Roeper (Germany)
• Botanic Healthcare (India)
• Beijing Gingko Group (Beijing)

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