Licorice Root Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026

Report Code: ZMR-3511 | Report Format : | Status : Upcoming |

Abstract

Global Licorice Root  Market: Overview

Licorice root is the Glycyrrhiza glabr’s root through which a sweet flavor can be derived. The licorice plant is native to southern regions in Europe and some parts of Asia. The sweet flavors derived from licorice root find its application in either sweeteners or candies in the Middle-east countries as well as European countries. In addition, licorice is a salt-tolerating plant consisting of sweetener as its main functional constituent.

Global Licorice Root Market: Growth Factors

Escalating demand for licorice across the pharmaceutical sector as a result of the product being a notable part of Chinese herbal drug will boost the growth of licorice root market over the years ahead. In addition, the rising popularity of Chinese herbal medicines comprising of nearly 70% of licorice across regions such as the U.S. and Europe will notably contribute towards licorice root market size in the near future.

The product is a main flavoring agent and presently finds rampant application in confectionary as well as tobacco sectors. It is rapidly gaining popularity across the food sector, while it is used in tobacco as a de-bittering constituent to mask off-note stevia taste. With large-scale trend of tobacco sector towards developing of sweet & flavored tobacco items, the demand for licorice root is expected to gain more prominence in the years to come. In addition, licorice finds spectrum of applications in dairy products, poultry & fish, nutritional products, fruits & vegetables, bakery & confectionary, and meat.

Global Licorice Root  Market: Segmentation

The global licorice root market can be divided based on product type, function type, grade type, raw material type, and ingredient type. Based on the product type, the licorice root market is segmented into essential oils, liquid malt extract, oleoresins, herbs & spices dry malt extract, andmaltflour. On basis of function type, licorice root market is classified into performance enhancers and palatability enhancers. Based on the ingredient type, the licorice root market is segmented into lipids, protein, polysaccharide, and others. On the basis of grade type, the market is divided into standard malt, caramelized malt, and roasted malt. Based on raw material type, the licorice root market is classified into maize, barley, wheat, rice, rye, and oat.

Global Licorice Root  Market: Regional Analysis

Based on regions, the global licorice root market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Massive usage of organic medicines in countries such the U.S. is anticipated to prominently drive the growth of licorice root market in North America. European licorice root market is anticipated to gain traction in the coming years, owing to lucrative demand for Chinese herbal medicines in the region. Large-scale acceptance of licorice in the regions of Africa is predicted to elevate the Middle East and Africa licorice root market revenue in the years ahead.

Global Licorice Root Market : Competitive Players

The key market players of the global licorice root market include Herbs Iran, Fanavaran Tosee Sanat Gharb, Glycyrrhiza Glabra Co, Ltd., Naturex SA, NOREVO GmbH, Green Agro Invest LLC, Hepner & Eschenbrenner GmbH & Co. KG, Maruzen Pharmaceuticals Co. Ltd., Nutra Green Biotechnology Co., Ltd., and Cemay Licorice Root Industry Company Limited, among others.

Global Licorice Root Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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