Global Licorice Root Market: Snapshot
Growing use of licorice roots in diverse end-use industries is predicted to generate prodigious sales opportunities in the global licorice root market during the assessment period of 2020 to 2030. The products from the global market for licorice root are found in various forms such as paste, roots, extracts, blocks, and powder.
TMR’s upcoming research report on the licorice root market provides detailed study of several important factors such as drivers, sales estimates, restraints, growth opportunities, and challenges in this market. In addition to this, the study presents reliable data on competitive landscape and regional analysis of the market for licorice root for the tenure of 2020–2030.
The report bifurcates global licorice root market based on some key parameters such as product form, end-use industry, and region. Based on end-use industry, the global market for licorice root is classified into food and beverage industry, healthcare and pharmaceutical industry, cosmetic industry, and tobacco industry.
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Global Licorice Root Market: Growth Dynamics
According to National Center for Biotechnology Information (NCBI), licorice roots hold various medicinal properties such as anti-inflammatory, antiviral, immune-modulatory, anti-tumor, and anti-microbial. Apart from this, these roots are gaining traction on the back of presence of many pharmacological characteristics. As a result, licorice roots are widely used in the production of various products from pharmaceutical sector. This scenario depicts that the global licorice root market will experience prominent demand avenues in the forthcoming years.
The root extracts of licorice are widely included in the treatment of various health issues such as lung ailments, pulmonary and skin disorders, hepatitis C, arthritis, peptic ulcers, liver disorders, and mouth ulcers. In addition to this, growing use of this product for strengthening immunity is expected to stimulate notable demand avenues in the global licorice root market through the assessment period 2020–2030.
In food and beverages industry, licorice is extensively utilized for enhancing tea flavor. Apart from this, growing use of licorice as a flavoring additive in tobacco and candy is expected to drive demand opportunities for vendors operating in the global licorice root market in the years ahead.
Global Licorice Root Market: Growth Restraints
Consuming licorice in excess amount can lead to health issues such as adrenal hormone disturbance, high blood pressure, hypokalemia, and hypernatremia. This aside, consistent obstruction of 11 -HSD2 owing to consumption of licorice in inapt proportion can lead to increased fluid volume and severe health issues to patients, specifically those dealing with heart problems. Owing to these factors, the licorice root market is predicted to experience sluggish growth in the forthcoming years.
Global Licorice Root Market: Competitive Analysis
Vendors operating in the global licorice root market are focused on improving the quality of products they offer. As a result, they are investing in research and development activities. Apart from this, many enterprises are advancing their production capabilities. On the back of all these factors, the global licorice root market is estimated to grow at promising pace in the forthcoming years.
The list of key players in the global licorice root market includes:
- Herbs Iran
- Naturex SA
- NOREVO GmbH
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Global Licorice Root Market: Regional Assessment
In terms of region, the global licorice root market shows existence in many regions including Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. Of all regions, Asia Pacific is one of the lucrative regions in the market for licorice root. This growth is attributed to increased use of licorice root in the regional pharmaceutical sector. Apart from this, the market for licorice root is estimated to experience stupendous growth due to presence of many players in this region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.