Licorice Extract Market Key Highlights:
- Market Size (2024): USD 898 Million
- Projected Market Size (2034): USD 1,654 Million
- CAGR (2024-2034): 6.3%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Licorice Extract Market Definition
The properties of licorice extract for maintaining blood pressure and potassium level are major factors driving consumer preference for it. The market is driven by increased demand for licorice supplements or products in the healthcare sector. Growing consumer concerns for enhancing immunity are rising demand for immune health supplements like licorice extracts. The healthcare sector is increasing demand for natural and organic ingredients in medical supplies due to people being significantly aware of the benefits of organic products. Additionally, growing popularity of herbal medicines is shifting the market toward growth. Ongoing investments in research and development for advanced health-promoting products are holding great market potential. Furthermore, collaborations of research hubs with stakeholders are allowing access for production companies to cutting-edge technologies, enabling them to emerge in the market.
Asia Pacific dominates the licorice extract market, with China holding the largest market share in the region. China is driving market growth due to its traditional medicine practices. Countries rich herbal medicine culture is expanding globally. India is the second-largest market player in Asia, with vast Ayurvedic medicines and nutraceuticals. However, North America is expected to witness significant growth due to the growing influence of traditional medicines among consumers.
Licorice Extract Market Segmentation:
By Application
- Boost Energy
- Brain Health
- Colon Health
- Digestive Health
- Immune Support
- Liver Support
- Skin Health
By Form
- Chewable Tablets
- Capsules
- Gelatin
- HPMC
- Gummies/Chews
- Powder
- Liquid
Licorice Extract Market Companies:
- Sichuan Union Herb
- Shaanxi Jiahe Phytochemicals
- Zhejiang Kangling
- Hebei Jingu
- Hunan Huakang
- Norevo GmbH
- Aushadhi Herba
- MAFCO Worldwide LLC
- F&C Licorice
- VPL Chemicals
- Zagros Licorice
- Ransom Naturals
- Sepidan Osareh
- Others
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