Global Licorice Extract Market Insights Report Overview
According to the latest market study by MarkNtel Advisors titled “Global Licorice Extract Market Size, Share, Trends, Growth, Opportunity Analysis 2023-2028” presents a thorough examination of market drivers, opportunities and challenges.
Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.
Licorice Extract Market Overview:
The Global Licorice Extract Market size is valued at around USD 2.12 billion in 2022 & is estimated to grow at a CAGR of about 5.2% during the forecast period, i.e., 2023-28.
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Global Licorice Extract Market Challenge:
Decline in the Production of Tobacco & Its Industry to Hinder the Market Growth – As the world is advancing, individuals are getting more & more concerned about their health & are avoiding to intake anything that could harm their health. One such thing is tobacco, which is considered to be one of the deadliest things if consumed on a regular basis. Thus, the rising awareness regarding consuming tobacco is aiding in declining the production of tobacco, eventually creating a challenge for the Global Licorice Extract Market expansion, as this extract is widely used in tobacco for flavor & taste & contributes to the total market share.
Competitor Insight: Licorice Extract Market
This report focuses on major market participants like:
- Alfarid Corporation Limited
- AOS Products Pvt. Ltd.
- Avestia Pharma
- E. Roeper GmbH
- F&C Licorice Ltd.
- Herbochem
- Hyundai Bioland
- Mafco Worldwide LLC
- Maruzen Pharmaceuticals Co. Ltd.
- Norevo GmbH
- Shaanxi FUJIE Pharmaceutical Co. Ltd.
- VPL Chemicals Pvt Ltd.
- Beijing Gingko Group
- Glycyrrhiza Glabra Co. Ltd.
- Ransom Naturals Ltd.
- Others
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Segmentation Summary: Licorice Extract Market
This segmentation analysis outlines prominent sections in the report’s table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the Licorice Extract Market, with notable highlighting on:
-By Product Type
- Food Grade
- Feed Grade
- Pharmaceutical Grade
Pharmaceutical Grade is anticipated to account for the majority of the share of the Global Licorice Extract Market during the forecast period. Owing to its vast presence in the making of the medicinal products & medicines licorice extract’s demand is destined to elevates. It is a widely used extract that aids in the treatment of various kind of disease & is used to make cough syrup, lotions, cosmetics, etc. As, it is best for curing sore throat, acid reflux, indigestion, eczema, acne, and many more, thus it is presumed that the demand for this extract would increase, further positively affection the Licorice Extract Market size in the following years.
-By Form
- Powder- Market Size & Forecast 2018-2028, USD Million
- Liquid- Market Size & Forecast 2018-2028, USD Million
- Block- Market Size & Forecast 2018-2028, USD Million
-By End Users
- Food & Beverages- Market Size & Forecast 2018-2028, USD Million
- Pharmaceutical- Market Size & Forecast 2018-2028, USD Million
- Tobacco- Market Size & Forecast 2018-2028, USD Million
- Others- Market Size & Forecast 2018-2028, USD Million
Licorice Extract Market Geographical Reach:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Key Questions Addressed:
- Factors Driving Market Growth: Understand the primary drivers propelling the Licorice Extract market forward.
- Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
- Growth Projections: Gain insights into anticipated growth projections for the coming years.
- Geographical Hotspots: Identify geographical poised for significant market growth soon.
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