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Published Date: 2017-04-04Number of Pages: 119

Licorice Extracts Market (Form - Powder and Block; Type - Pharmaceuticals, Food Grade, and Feed Grade; Application - Pharmaceuticals, Tobacco, and Food and Beverage) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Global Licorice Extract Market: Snapshot

Of late, the global licorice extracts market is witnessing a stable progress, thanks to the growing demand for pharmaceutical products, herbal medicines, and various other health products among people across the world. The increasing uptake of natural ingredients in medical supplements, together with the rising inclination of consumers towards sugar-free products, boosted by the upswing in the consumer consciousness towards health and fitness, is fueling the demand for licorice extracts, reflecting greatly on this market.

Currently, the market players are focusing aggressively on research and development activities to develop new products in order to satisfy the swelling demand for sugar-free products, as the rising prevalence of diabetes and obesity has increased the concerns of consumers over the high intake of sugar. This, as a result, is expected to benefit the sales of licorice extracts in the years to come. Apart from this, the opportunities generated by the advent of herbal medicines in developed regions are also projected to reflect greatly on the market for licorice extracts, globally. The overall opportunity in this market, which stood at US$1.70 bn in 2016, is anticipated to reach US$2.3 bn by 2025, expanding at a CAGR of 4.0% between 2017 and 2025.

licorice extracts market

 

Asia Pacific to Continue Leading Global Licorice Extracts Market

Geographically, the worldwide market for licorice extracts has been categorized into the Middle East and Africa, Europe, North America, Latin America, and Asia Pacific. Driven by China, India, and Japan, Asia Pacific dominated the global market in 2016 with a share of more than 32%. Analysts expect this regional market to retain its position over the forthcoming years.

Europe, which held the second position in the global licorice extracts market in 2016, is likely to continue in the same position in the near future. The increasing demand for low-calorie foods, owing to rising consumer preference for a healthier lifestyle is expected to boost this regional market. The U.K., Germany, France, Italy, and the Rest of Europe have been driving the Europe market for licorice extracts, among which, Germany has taken the lead on the ground of the increasing demand of natural ingredients into various medical supplements.

Amongst other regional markets, North America is anticipated to witness a prominent rise in the years to come, thanks to the new opportunities being created by the growing usage of herbal medicines. The licorice extracts markets in the Middle East and Africa and Latin America are also expected to experience healthy growth in their shares over the next few years, thanks to the continuous research and development in this field.

Demand for Licorice Extracts Greater in Food and Beverages Sector

Pharmaceuticals, tobacco, and food and beverages are the key application areas for licorice extracts. The demand for these extracts has been greater in the food and beverages segment and is projected to remain doing so over the forthcoming years. However, the tobacco segment is likely to report a high-paced demand for licorice extracts in the near future due to the increasing usage of these extracts at a sweetening agent. The augmenting popularity of flavored tobacco products is also expected to increase the application of these extracts in this segment over the years to come.

Norevo GmbH, F&C Licorice Ltd., Mafco Worldwide LLC, Zagros Licorice Co., VPL Chemicals PVT Ltd., SepidanOsareh Co., ASEH Licorice MFG & Exp. Co., Maruzen Pharmaceuticals Co. Ltd., Zelang Group, and Ransom Naturals Ltd. are the key players operating in the global licorice extracts market.

Section 1 Preface
1.1 Research Scope
1.2 Market Segmentation
1.3 Research Highlights

Section 2 Assumptions and Research Methodology
2.1 Report Assumptions
2.2 Acronyms Used
2.3 Research Methodology

Section 3 Executive Summary
3.1 Overview
3.2 Market Snapshot

Section 4 Market Dynamics
4.1 Introduction
4.2 Key trend Analysis
4.3 Drivers and Restraints Snapshot Analysis
      4.3.1 Drivers
      4.3.2 Restraints
      4.3.3 Opportunity
4.4 Global Licorice Extracts Market Revenue Analysis and Forecasts, 2016 – 2025 
4.5 Global Licorice Extracts Market  Attractiveness Analysis (2016) by Application

Section 5 Licorice Extracts Market Analysis, by Form
5.1 Introduction
5.2 Global Licorice Extracts Market Revenue Share Analysis, Form, 2016 & 2025
5.3 Global Licorice Extracts Market Revenue Analysis, by Form, 2016-2025
      5.3.1 Powder
      5.3.2 Semi Fluid/Paste
      5.3.3 Block

Section 6 Licorice Extracts Market Analysis, by Type
6.1 Introduction 
6.2 Global Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
6.3 Global Licorice Extracts Market Revenue Analysis, by Type, 2016-2025
      6.3.1 Pharmaceutical Grade
      6.3.2 Food Grade
      6.3.3 Feed Grade

Section 7 Licorice Extracts Market Analysis, by Application
7.1 Introduction 
7.2 Global Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
7.3 Global Licorice Extracts Market Revenue Analysis, by Application, 2016-2025
      7.3.1 Pharmaceutical
      7.3.2 Tobacco
      7.3.3 Food and Beverage
      7.3.4 Others

Section 8 Licorice Extracts Market Analysis, by Region
8.1 Geographical Scenario
8.2 Global Licorice Extracts Market Revenue Share Analysis, by Region
8.3 Global Licorice Extracts Market Revenue Forecast, by Region

Section 9 North America Licorice Extracts Market  Analysis
9.1 North America Licorice Extracts Market Revenue Share Analysis and Forecast, 2016  - 2025
9.2 North America Licorice Extracts Market Revenue Share Analysis, by Form , 2016 & 2025
9.3 North America Licorice Extracts Market Revenue Forecast, by Form, 2016–2025
9.4 North America Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
9.5 North America Licorice Extracts Market Revenue Forecast, by  Type, 2016 - 2025
9.6 North America Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
9.7 North America Licorice Extracts Market Revenue Forecast, by  Application, 2016 - 2025
9.8 North America Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
9.9 North America Licorice Extracts Market Revenue Forecast, by  County, 2016 - 2025

Section 10 Europe Licorice Extracts Market  Analysis
10.1 Europe Licorice Extracts Market Revenue Share Analysis and Forecast, 2016  - 2025
10.2 Europe Licorice Extracts Market Revenue Share Analysis, by Form , 2016 & 2025
10.3 Europe Licorice Extracts Market Revenue Forecast, by Form, 2016–2025
10.4 Europe Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
10.5 Europe Licorice Extracts Market Revenue Forecast, by  Type, 2016 - 2025
10.6 Europe Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
10.7 Europe Licorice Extracts Market Revenue Forecast, by  Application, 2016 - 2025
10.8 Europe Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
10.9 Europe Licorice Extracts Market Revenue Forecast, by  County, 2016 - 2025

Section 11 Asia Pacific Licorice Extracts Market  Analysis
11.1 Asia Pacific Licorice Extracts Market Revenue Share Analysis and Forecast, 2016  - 2025
11.2 Asia Pacific  Licorice Extracts Market Revenue Share Analysis, by Form , 2016 & 2025
11.3 Asia Pacific  Licorice Extracts Market Revenue Forecast, by Form, 2016–2025
11.4 Asia Pacific  Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
11.5 Asia Pacific Licorice Extracts Market Revenue Forecast, by  Type, 2016 - 2025
11.6 Asia Pacific Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
11.7 Asia Pacific Licorice Extracts Market Revenue Forecast, by  Application, 2016 - 2025
11.8 Asia Pacific Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
11.9 Asia Pacific Licorice Extracts Market Revenue Forecast, by  County, 2016 - 2025

Section 12 Middle East and Africa Licorice Extracts Market  Analysis
12.1 Middle East and Africa Licorice Extracts Market Revenue Share Analysis and Forecast, 2016  - 2025
12.2 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Form , 2016 & 2025
12.3 Middle East and Africa Licorice Extracts Market Revenue Forecast, by Form, 2016–2025
12.4 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
12.5 Middle East and Africa Licorice Extracts Market Revenue Forecast, by  Type, 2016 - 2025
12.6 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
12.7 Middle East and Africa Licorice Extracts Market Revenue Forecast, by  Application, 2016 - 2025
12.8 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
12.9 Middle East and Africa Licorice Extracts Market Revenue Forecast, by  County, 2016 - 2025

Section 13  Latin America Licorice Extracts Market  Analysis
13.1 Latin America Licorice Extracts Market Revenue Share Analysis and Forecast, 2016  - 2025
13.2 Latin America Licorice Extracts Market Revenue Share Analysis, by Form , 2016 & 2025
13.3 Latin America Licorice Extracts Market Revenue Forecast, by Form, 2016–2025
13.4 Latin America Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
13.5 Latin America  Licorice Extracts Market Revenue Forecast, by  Type, 2016 - 2025
13.6 Latin America Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
13.7 Latin America Licorice Extracts Market Revenue Forecast, by  Application, 2016 - 2025
13.8 Latin America Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
13.9 Latin America Licorice Extracts Market Revenue Forecast, by  County, 2016 - 2025

Section 14 Company Profiles
14.1 Norevo GmbH 
      14.1.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.1.2. Market Presence, By Segment and Geography
      14.1.3. Strategic Overview
      14.1.4. SWOT analysis
      14.1.5. Strategic Overview
14.2 Mafco Worldwide LLC 
      14.2.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.2.2. Market Presence, By Segment and Geography
      14.2.3. Strategic Overview
      14.2.4. SWOT analysis
      14.2.5. Strategic Overview
14.3 F&C Licorice Ltd. 
      14.3.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.3.2. Market Presence, By Segment and Geography
      14.3.3. Strategic Overview
      14.3.4. SWOT analysis
      14.3.5. Strategic Overview
14.4 Zagros Licorice Co.
      14.4.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.4.2. Market Presence, By Segment and Geography
      14.4.3. Strategic Overview
      14.4.4. SWOT analysis
      14.4.5. Strategic Overview
14.5 SepidanOsareh Co. 
      14.5.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.5.2. Market Presence, By Segment and Geography
      14.5.3. Strategic Overview
      14.5.4. SWOT analysis
      14.5.5. Strategic Overview
14.6 VPL Chemicals PVT Ltd. 
      14.6.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.6.2. Market Presence, By Segment and Geography
      14.6.3. Strategic Overview
      14.6.4. SWOT analysis
      14.6.5. Strategic Overview
14.7 ASEH Licorice MFG & Exp. Co.
      14.7.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.7.2. Market Presence, By Segment and Geography
      14.7.3. Strategic Overview
      14.7.4. SWOT analysis
      14.7.5. Strategic Overview
14.8 Zelang Group
      14.8.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.8.2. Market Presence, By Segment and Geography
      14.8.3. Strategic Overview
      14.8.4. SWOT analysis
      14.8.5. Strategic Overview
14.9 Maruzen Pharmaceuticals Co. Ltd. 
      14.9.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.9.2. Market Presence, By Segment and Geography
      14.9.3. Strategic Overview
      14.9.4. SWOT analysis
      14.9.5. Strategic Overview
14.10 Ransom Naturals  Limited
      14.10.1. Company Details (HQ, Foundation Year, Employee Strength)
      14.10.2. Market Presence, By Segment and Geography
      14.10.3. Strategic Overview
      14.10.4. SWOT analysis
      14.10.5. Strategic Overview

List of Figures

Figure 1 Market Snapshot
Figure 2 Global Licorice Extracts Market  Revenue Analysis, and Forecasts, 2016 – 2025 
Figure 3 Global Licorice Extract Market Attractiveness Analysis (2016) by Application
Figure 4 Global Licorice Extracts Market Revenue Share Analysis, by Form, 2016 & 2025
Figure 5 Global Licorice Extracts Powder Market, Revenue (USD Mn), 2016–2025
Figure 6 Global Licorice Extracts Semi-Fluid/Paste Market, Revenue (USD Mn), 2016–2025
Figure 7 Global Licorice Extracts Block Market, Revenue (USD Mn ),2016–2025
Figure 8 Global Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
Figure 9 Global Licorice Extracts Market Revenue (USD Mn), by Pharmaceutical Grade, 2016–2025
Figure 10 Global Licorice Extracts Market Revenue (USD Mn), by Food Grade, 2016–2025
Figure 11 Global Licorice Extracts Market Revenue (USD Mn), by Feed Grade, 2016–2025
Figure 12 Global Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
Figure 13 Global Licorice Extracts Market Revenue (USD Mn), by Pharmaceutical, 2016–2025
Figure 14 Global Licorice Extracts Market Revenue (USD Mn), by Tobacco, 2016–2025
Figure 15 Global Licorice Extracts Market Revenue (USD Mn), by Food and Beverage, 2016–2025
Figure 16 Global Licorice Extracts Market Revenue (USD Mn), by Others, 2016–2025
Figure 17 Global Licorice Extracts Market Revenue Share Analysis, by Region, 2016 & 2025
Figure 18 North America Licorice Extracts  Revenue Analysis, and Forecasts, 2016 – 2025 
Figure 19 North America Licorice Extracts Market Revenue Share Analysis, by Form, 2016 & 2025
Figure 20 North America Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
Figure 21 North America Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
Figure 22 North America Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
Figure 23 Europe Licorice Extracts Revenue Analysis, and Forecasts, 2016 – 2025 
Figure 24 Europe Licorice Extracts Market Revenue Share Analysis, by Form, 2016 & 2025
Figure 25 Europe Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
Figure 26 Europe Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
Figure 27 Europe Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
Figure 28 Asia Pacific Licorice Extracts  Revenue Analysis, and Forecasts, 2016 – 2025 
Figure 29 Asia Pacific Licorice Extracts Market Revenue Share Analysis, by Form, 2016 & 2025
Figure 30 Asia Pacific Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
Figure 31 Asia Pacific Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
Figure 32 Asia Pacific Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
Figure 33 Middle East and Africa Licorice Extracts  Revenue Analysis, and Forecasts, 2016 – 2025 
Figure 34 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Form, 2016 & 2025
Figure 35 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
Figure 36 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
Figure 37 Middle East and Africa Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025
Figure 38 Latin America Licorice Extracts  Revenue Analysis, and Forecasts, 2016 – 2025 
Figure 39 Latin America Licorice Extracts Market Revenue Share Analysis, by Form, 2016 & 2025
Figure 40 Latin America Licorice Extracts Market Revenue Share Analysis, by Type, 2016 & 2025
Figure 41 Latin America Licorice Extracts Market Revenue Share Analysis, by Application, 2016 & 2025
Figure 42 Latin America Licorice Extracts Market Revenue Share Analysis, by Country, 2016 & 2025

List of Tables

Table 1 Global Licorice Extracts Market Revenue (USD Mn) Forecast, by Region, 2016–2025
Table 2 North America Licorice Extracts Market Revenue (US$ Mn) Forecast, by Form, 2016–2025
Table 3 North America Licorice Extracts Market Revenue (US$ Mn) Forecast, by Type, 2016–2025
Table 4 North America Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Application, 2016–2025
Table 5 North America Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Country, 2016–2025
Table 6 Europe Licorice Extracts Market Revenue (US$ Mn) Forecast, by Form, 2016–2025
Table 7 Europe Licorice Extracts Market Revenue (US$ Mn) Forecast, by Type, 2016–2025
Table 8 Europe Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Application, 2016–2025
Table 9 Europe Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Country, 2016–2025
Table 10 Asia Pacific Licorice Extracts Market Revenue (US$ Mn) Forecast, by Form, 2016–2025
Table 11 Asia Pacific Licorice Extracts Market Revenue (US$ Mn) Forecast, by Type, 2016–2025
Table 12 Asia Pacific Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Application, 2016–2025
Table 13 Asia Pacific Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Country, 2016–2025
Table 14 Middle East and Africa Licorice Extracts Market Revenue (US$ Mn) Forecast, by Form, 2016–2025
Table 15 Middle East and Africa Licorice Extracts Market Revenue (US$ Mn) Forecast, by Type, 2016–2025
Table 16 Middle East and Africa Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Application, 2016–2025
Table 17 Middle East and Africa Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Country, 2016–2025
Table 18 Latin America Licorice Extracts Market Revenue (US$ Mn) Forecast, by Form, 2016–2025
Table 19 Latin America Licorice Extracts Market Revenue (US$ Mn) Forecast, by Type, 2016–2025
Table 20 Latin America Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Application, 2016–2025
Table 21 Latin America Licorice Extracts Market Revenue  (US$ Mn) Forecast, by Country, 2016–2025

Global Licorice Extracts Market: Overview

Licorice is the root of the licorice (glycyrrhiza glabra) plant from which a sweet flavor is extracted and used in various industries as a sweetening agent. The root is principally used in making the extract, while the hard woody plant is pulped and boiled to further refine the content. In addition, it also offers various health benefits by acting as an antiviral, anti-inflammatory, antimicrobial, and hepato-protective agent. Licorice extracts find application in tobacco, food items, beverages, herbal medicines, pharmaceutical industry, and a variety of skin care products. The global market for licorice extracts is expected to expand at a considerable rate in the future owing to an increased demand for them.

Herbal medicine is a key health care option adopted globally due to its organic nature, lack of side-effects, and limited use of synthetic chemicals. With increased demand for herbal medicine all over the globe, natural ingredients in medicines are witnessing a rise in demand. In 2013, WHO developed and launched the ‘WHO Traditional Medicine Strategy 2014–2023’ which emphasized on the integration of complementary and traditional medicine to encourage universal health care and ensure the safety, quality, and effectiveness of herbal medicine. Therefore, natural ingredients in medicines are propelling the market in a positive direction.

Additionally, demand for natural low-calorie sweeteners is rising at a rapid rate globally owing to multiple health disorders including obesity and cholesterol issues which have resulted in a decline in the use of sugar-containing products. This drives the global licorice extracts market positively, as they are a natural sweetener used in the food & beverages industry on a large scale. However, synthetic sweeteners are still used in higher quantities than natural sweeteners in all application industries.

The food & beverages sector employs the former extensively as they are cost-effective and easy to use. Usage of natural sweeteners is still limited, restraining the overall growth of licorice extracts globally. Developing nations in Asia and the Middle East have always used herbal and natural medicines since pre-historic times. With rising knowledge about their benefits and lack of production capacity in developed countries of North America and Europe, these markets offer huge opportunities to the global licorice extracts market. North America imports a major portion of the product.

Global Licorice Extracts Market: Segmentation

Global licorice extract market is segmented on the basis of product form, type, and application. The global licorice extract market is segmented into three types of form- powder, semi fluid/paste and block. Powder licorice is a free flowing yellow-brown powder with a characteristic fragrance with a well-balanced, mild licorice flavor with detectable sweetness. Semi-fluid/paste licorice is a concentrated solution of licorice extract with a dark brown appearance and high viscosity. Block licorice is a solid mass of licorice which has a strong sweet note of licorice. In terms of type the market is segmented by pharmaceutical grade, food grade and feed grade.

Licorice extracts has multiple medicinal properties in them. They help curing a large number of diseases such as hives, bronchitis, indigestion, lyme disease, genital warts and chronic fatigue among others. Licorice contains glycyrrhizin which is sweet in nature and is thus used as a natural sweetener which is used as a substitute of regular table sugar. Additionally, feed grade licorice when added to animal and fish feed has boosted growth performance and improves immune response, and improved biochemical reactions.

In terms of application the market is segmented by pharmaceutical, tobacco, food and beverage and others. Licorice extract find huge application in the pharmaceutical industry owing to its antiviral, anti-inflammatory, antibacterial, antioxidant, antispasmodic and antidepressant, expectorant and demulcent property. Licorice extract is mostly used as flavoring agent in tobacco and its acts as a natural sweetener to tobacco products. Licorice extract is used as a sweetening and flavoring agent in the food & confectionery industry and is used in large quantities in making sweets and candies. It is also used in the manufacture of mint and menthol candies. Other applications of licorice include use in skin care, personal care and cosmetics and animal feed.

Companies Mentioned in the Report

In order to get a better understanding of the global licorice extract market, a key trends analysis has been included for all the segments. In addition, the market players in the licorice extract market have also been profiled. The leading players in the market include Norevo GmbH, Mafco Worldwide LLC., F&C Licorice Ltd., Zagros Licorice Co, SepidanOsareh Co, VPL Chemicals PVT Ltd., ASEH Licorice MFG &Exp. Co., Zelang Group, Maruzen Pharmaceuticals Co. Ltd., and Ransom Naturals Ltd.

The global licorice extracts market can be segmented as follows:-

By Form

  • Powder
  • Semi fluid/Paste
  • Block

By Type

  • Pharmaceutical Grade
  • Food Grade
  • Feed Grade

By Application

  • Pharmaceutical
  • Food and Beverage
  • Tobacco
  • Others

By Geography

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Middle East and Africa
    • Iran
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Rest of Latin America


 
 
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