Global Licorice Root Market Expected to Grow at a CAGR of 5.1% during 2018 - 2026

Published: Tue Oct 16 2018

The demand for licorice has revved up in pharmaceutical applications, being a vital ingredient in Chinese herbal medicine. On the backdrop of rising consumption of organic medicines, the demand for Chinese herbal medicines comprising of around 70% licorice is growing at a meteoric pace across several regions. These insights are gleaned from a new report, titled "Licorice Root Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026," recently added to the exhaustive repository of Market Research Reports Search Engine (MRRSE).

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Among all the regions registering hefty demand for Chinese herbal medicines, Europe and U.S. stay at the vanguard of demand. The manufacturers of Chinese herbal medicines, in association with the harvesters of licorice root, are vying to ensure stable production patterns in a bid to prevent prices to shoot up. Such initiatives are likely to rev up the volume production of licorice root, driving growth of licorice root market.

Licorice Root Market- Fortifications in the Food and Beverages Industry to Offer Prime Opportunities

Use of licorice root in the food and beverages industry is gaining significant grounds, on the back of various health benefits. Licorice roots helps in better digestion, emerging as a pivotal ingredient in the food and beverage applications. Moreover, evolving preferences of health-savvy consumers are gravitating toward healthier alternatives of sugar, signifying an optimistic outlook for licorice root in food and beverage applications. Moreover, the licorice root market is also likely to gain benefits from increasing fad for organic and natural food products.

Licorice Root Market- Tobacco to Offer Profit-making Avenues in terms of Consumption

Licorice root extract has emerged as crucial flavoring agent and a vital component in case of confectionery applications. Apart from confectionery, tobacco is also an emerging application with a myriad of opportunities for the aspiring players of licorice root market to bank in.

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While gaining popularity in the food industry as a flavoring agent, licorice root is also gaining traction in tobacco manufacturing as a de-bittering agent. This helps in masking the off-note taste attribute of stevia and is emerging as a key product for enhancing the appeal of tobacco products. The transition of tobacco industry toward development of flavored tobacco is expected to create sustainable growth opportunities for licorice root market over the coming years.

Licorice Root Market- Overview of the Report

This report covers the crucial aspects impacting dynamics of licorice root market, which includes drivers, restraints, and trends. The report also portrays compelling insights, including analysis, to outline the growth potential of licorice root market across specific regions. The profiles of key stakeholders of the market landscape have also been covered in the scope of the report, in a bid to evaluate the current scenario, untapped opportunities, and futuristic potential of the market.

Some of the key players featured in the report include Mafco Worldwide Corporation, NOREVO GmbH, Turkmendermansenagat [Agro-industrial complex (Buyan)], Maruzen Pharmaceuticals Co. Ltd., Amarelli Fabbrica Di Liquirizia Di Fortunato Amarelli & C. Sas, Beijing Gingko-Group Biological Technology Co. Ltd., Naturex SA, Herbs Iran, and many more.

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