Global Organic Licorice Extracts Market, By Form (Paste, Block, Powder, Others), Application (Food and Beverage, Cosmetics and Personal Care, Dietary Supplements, Tobacco Products, Others), Distribution Channel (Online, Offline), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Organic Licorice Extracts Market
Organic licorice extracts market size is expected to grow at a compound annual rate of 3.5% in the forecast period 2021 to 2028 and is likely to reach USD 0.79 billion by 2028. The rise in the product acceptance and usage is the factor responsible for the growth of organic licorice extracts market in the forecast period of 2021 to 2028.
Licorice extract is a type of a natural ingredient which is most often found in both food and herbal medicine supplements. They are often found in teas and are also used in numerous products as a flavoring ingredient.
The major growing factor towards organic licorice extracts market is the rise in demand for organic products. Furthermore, the rise in the awareness of the health benefits and the increase in the usage of licorice in the herbal medicines and herbal products are also expected to heighten the overall demand for organic licorice extracts market over the forecast period of 2021 to 2028. Moreover, the rise in demand for licorice root as a sweetener from candy and the beverage manufacturing are also expected to serve as foremost drivers for the organic licorice extracts market at a global level. In addition, the rise in the awareness related to sugar-free products and the increase in the preference for healthy food products among consumers are also lifting the growth of the organic licorice extracts market.
However, the high cost of the licorice extracts and the lack of the availability of the raw materials are projected to act as a restraint towards the growth of organic licorice extracts market, whereas the increase in the cost of raw materials can challenge the growth of the organic licorice extracts market.
Moreover, the rise in the number health conscious consumers, increase in the preference for organic products especially among the millennial population and the high demand for natural and organic products in the developed markets are expected to further generate new opportunities for the organic licorice extracts market in the forecast period of 2021 to 2028.
This organic licorice 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 organic licorice 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.
Global Organic Licorice Extracts Market Scope and Market Size
Organic licorice extracts market is segmented on the basis of form, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The form segment of the organic licorice extracts market has been segmented into paste, block, powder and others.
- On the basis of application, the organic licorice extracts market has been segmented into food and beverage, cosmetics and personal care, dietary supplements, tobacco products and others.
- On the basis of distribution channel, the organic licorice extracts market has been segmented into online and offline.
Organic Licorice Extracts Market Country Level Analysis
Organic licorice extracts market is analyses and market size, volume information is provided by country, form, application and distribution channel as referenced above.
The countries covered in the organic licorice extracts market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, 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).
North America leads the organic licorice extracts market due to the rise in the number health conscious consumers in the country associated with the rise in the preference for organic products especially among the millennial population. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the presence of the major market players.
The country section of the organic licorice extracts market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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 Organic Licorice Extracts Market Share Analysis
Organic licorice 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 organic licorice extracts market.
The major players covered in the organic licorice extracts report are NOREVO, FC Licorice, MAFCO Worldwide LLC, Zagros Licorice co., VPL Chemicals, Aseh Co., Maruzen Pharmaceuticals Co., Ltd., Vital Herbs, S.A. Herbal Bioactives LLP, AOS Products Pvt. Ltd., and Herbochem among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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