Global Licorice Root Market Expected To Expand At A CAGR Of Approximately 5.3% During 2020–2026

According to analysts at Zion Market Research, the global licorice root market is anticipated to witness a massive growth and will grow at a CAGR of 5.3% during the forecasted period (2020–2026). The licorice plant or liquorice is an herb that is a perennial legume. Licorice extracts are utilized in traditional medicines for reducing gastrointestinal problems. In the case of food poisoning, heartburn, and stomach ulcers, the licorice root extracts are utilized to restore balance and heal the stomach lining. It is also suggested for the treatment of respiratory issues. The licorice root extract is an extremely vital flavoring agent and component currently in the tobacco & confectionery industries.

Some of the key players in the market are Herbs Iran, NOREVO GmbH, and Naturex SA. The leading companies are involved in a number of expansion and growth strategies to achieve a competitive advantage. The industrial participants also pursue value chain incorporation with business operations in numerous stages of the value chain.

Rising Demand For Licorice Root From Food Industry To Boost The Global Licorice Root Market

The rising demand for licorice root from the candy and beverage industry to use as a sweetener is a key factor impelling the growth of the worldwide licorice root market. Additionally, the increasing demand from the pharmaceutical segment for medicinal manufacturing related to the treatment of asthma and cough is another aspect likely to contribute to the growth of the global licorice root market. Besides, growing inclination toward healthy tea amongst consumers resulted in manufacturers in the production of herbal tea is another major factor estimated to support the development of the global licorice root market. The technological innovations and augmenting research & development activities by prominent players are projected to create new prospects in terms of proceeds for companies operating in the worldwide licorice root market in the forecasted period.

The global licorice root market is bifurcated based on the product form, end-use industry, and regional analysis. On the basis of product form, the market is divided into powder, roots, extracts, blocks, and paste. On the basis of the end-use industry, the market is divided into tobacco industry, food & beverage industry, cosmetic industry, and healthcare & pharmaceutical industry.

Asia Pacific Region Projected To Dominate The Global Licorice Root Market

Based on the geographical analysis, the global licorice root market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The market across Asia Pacific region is projected to rule the global licorice root market with regard to revenue and is likely to continue its supremacy over the forecasted period. The domination can be due to the presence of major manufacturers operating in the nations and surging demand from the pharmaceutical industry across this region. The markets across Europe and North America are likely to contribute noteworthy market shares to the global licorice root market. The market across Europe is anticipated to witness faster growth, due to augmenting demand from the food & beverage industry.

Browse the full “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.” Report at https://www.zionmarketresearch.com/report/licorice-root-market

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

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com