Licorice Root Market - By Product Form (Powder, Roots, Extracts, Blocks, and Paste), By End-Use Industry (Tobacco Industry, Food & Beverage Industry, Cosmetic Industry, and Healthcare & Pharmaceutical Industry), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Global Licorice Root market, is set to record the CAGR of nearly 5.3% over the period from 2020 to 2026.

21-Aug-2020 | Number of pages: 110 | Report Code: ZMR-3511 | Report Format : | Status : Published

Abstract

The global Licorice Root market, is set to record the CAGR of nearly 5.3% over the period from 2020 to 2026. The report offers assessment and analysis of the Licorice Root market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Introduction

Licorice root comprises of a tribasic glycyrrhizin that is in the form of calcium salts & potassium salts blend. Moreover, the product has been used as a medical herb in ancient times to treat various diseases and also as a natural sweetener across the globe since many years. Furthermore, its contents, namely, highly concentrated saponin and glycyrrhizin are used as the key sweetening agents. High anti-microbial activities of the product has made it most popular across the globe.

Apparently, licorice has been utilized as safe & effective herb along with few of the other herbs in tea for treating holic in infants for a short period. For the record, the U.S. FDA has recognized licorice extract as GRAS (generally recognized as safe). Furthermore, nearly 300 flavonoids including isoflavonoids, phenolic acids, flavans, isoflavans, liquiritin, and chalcones as well as 20 triterpenoids along with amino acids, glycyrrhizic acid, ascorbic acid, choline, tannins, coumarins, liquiritigenin, and phytosterols have been extracted from licorice root.  In addition to this, licorice has been used as a traditional medicine in China for many centuries and was considered to have been possessing life-improving properties, reducing pain, eradicating phlegm, tonifying stomach, and reducing cough.

Market Growth Dynamics

According to NCBI, licorice root that is a metabolite possess antiviral, anti-inflammatory, anti-microbial, immune-modulatory, and anti-tumor features as well as myriad pharmacological characteristics. These beneficial features will drive the market trends. In addition to this, the use of licorice in enhancing tea flavor as well as its application as flavoring additive in candy and tobacco will open new growth opportunities for the market in the coming years. Licorice root extracts have favorable impact on pulmonary & skin disorders, lung ailments, arthritis, hepatitis C, mouth ulcers, peptic ulcers, and liver disorders as well as body immunity. 

Furthermore, licorice is used for treating respiratory & gastrointestinal disorders. Reportedly, it possesses immuno- stimulatory, hepa-protective, anti-carcinogenic, anti-oxidant, anti-infective, anti-cancer, detoxifying, and anti-ulcer characteristics, thereby offering protection to endocrine, nervous, respiratory, and cardiovascular systems along with enhancing its functions. The polyphenolic flavonoids of licorice imparts hypoglycemic effects through modulation of lipid & glucose metabolism, thereby steering the market growth. However, the excessive product consumption can cause high blood pressure, adrenal hormone disturbance, hypernatremia, and hypokalemia. Apart from this, constant obstruction of 11 β-HSD2 due to disproportionate licorice intake can increase volume of fluid and can create life-threatening situations for patients, particularly those suffering from heart disorders, thereby putting brakes on the market expansion. It also finds lucrative applications as feed additive in poultry sector.

Asia Pacific Market To Establish Dominant Position Over 2020-2026

The expansion of the regional market over 2020-2026 can be credited to massive product penetration in pharmaceutical sector along with huge presence of reputed manufacturers in the region.

Key players profiled in the report include NOREVO GmbH, Herbs Iran, and Naturex SA.

The global licorice root market is segmented as follows:

By product form:

  • Roots
  • Blocks
  • Extracts
  • Powder
  • Paste

By end-use industry:

  • Healthcare & Pharmaceutical Industry
  • Food & Beverage Industry
  • Tobacco Industry
  • Cosmetic Industry

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

The use of licorice in enhancing tea flavor as well as its application as flavoring additive in candy and tobacco will open new growth opportunities for the market in the coming years.

The CAGR of the industry is expected to be nearly over 5.3% during the forecast timeline.

Asia Pacific will contribute remarkably towards the global market share over the estimated timeline.

The key market players include Herbs Iran, NOREVO GmbH, and Naturex SA.

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