Global Licorice Root Market Size, Analysis, Scope, Demand, Opportunities, Statistics

Global Licorice Root Market Size, Analysis, Scope, Demand, Opportunities, Statistics

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Global Licorice Root Market, By Product Form (Roots and Extracts), Product Type (Essential Oils, Liquid Malt Extract, Oleoresins, Herbs and Spices Dry Malt Extract, and Malt Flour), Function Type (Performance Enhancers and Palatability Enhancers), Grade Type (Standard Malt, Caramelized Malt, and Roasted Malt), Raw Material Type (Maize, Barley, Wheat, Rice, Rye, and Oat), Ingredient Type (Lipids, Protein, Polysaccharide, and Others), End User (Food and Beverage Industry, Tobacco Industry, Pharmaceutical Industry, Cosmetic Industry, and Dietary Supplement) – Industry Trends and Forecast to 2029.


The Licorice Root Market sector is rapidly evolving, with substantial growth and advancements anticipated by 2031. Comprehensive market research provides an in-depth analysis of market size, share, and trends, offering crucial insights into its expansion. The report delves into market segmentation and definitions, highlighting key components and drivers. By utilizing SWOT and PESTEL analyses, it assesses the market's strengths, weaknesses, opportunities, and threats, along with political, economic, social, technological, environmental, and legal factors.

Licorice Root Market Industry Trends and Forecast to 2031

What are the projected market size and growth rate of the Licorice Root Market?

Global licorice root market size was valued at USD 4.20 billion in 2023 and is projected to reach USD 5.62 billion by 2031, with a CAGR of 3.7% during the forecast period of 2024 to 2031. 

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 Which are the top companies operating in the Licorice Root Market?

The report profiles noticeable organizations working in the water purifier showcase and the triumphant methodologies received by them. It likewise reveals insights about the share held by each organization and their contribution to the Licorice Root Market extension. This Global Licorice Root Market report provides the information of the Top 10 Companies in Licorice Root Market in the market their business strategy, financial situation etc.

**Licorice Root Market Analysis**

- The licorice root market is expected to witness significant growth in 2024, driven by the increasing demand for natural and herbal ingredients in various industries such as food and beverage, pharmaceuticals, and cosmetics. The rising awareness among consumers about the health benefits of licorice root, such as its anti-inflammatory and immune-boosting properties, is fueling the market growth. Additionally, the growing popularity of licorice root as a sweetening agent in the food and beverage industry is further boosting market demand.

**Licorice Root Market Analysis**

- By 2031, the licorice root market is projected to experience steady growth, attributable to the expanding application of licorice root extract in the pharmaceutical industry for its potential therapeutic benefits. The increasing research and development activities in identifying new uses of licorice root in healthcare products are expected to drive market growth in 2031. Furthermore, the growing trend of incorporating natural and organic ingredients in personal care products is expected to create lucrative opportunities for licorice root manufacturers.

**Market Players**

- Some of the key players operating in the licorice root market include:
- Naturex
- Magnasweet
- Zagros Licorice Co.
- Sepidan Osareh Co.
- Aushadhi Herbal

- These companies are focusing on product innovation, strategic partnerships, and geographical expansion to strengthen their market position and cater to the increasing demand for licorice root-based products.

https://www.databridgemarketresearch.com/reports/global-licorice-root-marketThe licorice root market is poised for continued growth in the coming years as the demand for natural and herbal ingredients continues to rise across various industries. One key trend driving this growth is the increasing awareness among consumers about the health benefits associated with licorice root consumption. With attributes like anti-inflammatory and immune-boosting properties, licorice root is gaining traction not only for its functional benefits but also as a natural sweetening agent in the food and beverage industry. This dual-purpose nature of licorice root is expected to sustain market growth as more consumers seek healthier and more natural alternatives in their products.

Looking ahead to 2031, the licorice root market is projected to maintain its growth momentum, propelled by the expanding applications of licorice root extract in the pharmaceutical sector. Research and development efforts aimed at uncovering the therapeutic benefits of licorice root are anticipated to drive market demand as more healthcare products incorporate this natural ingredient. Moreover, the shift towards natural and organic ingredients in the personal care industry presents a significant opportunity for licorice root manufacturers to capitalize on the growing consumer preference for clean label products. By aligning with this market trend, companies operating in the licorice root sector can leverage the increasing demand for herbal ingredients in a variety of consumer goods.

In terms of market players, key companies like Naturex, Magnasweet, Zagros Licorice Co., Sepidan Osareh Co., and Aushadhi Herbal are actively engaging in product innovation and strategic partnerships to strengthen their competitive positions within the licorice root market. These players are not only focusing on expanding their product portfolios but also on diversifying their geographic presence to tap into new markets and consumer segments. By demonstrating a commitment to quality, sustainability, and innovation, these companies are well-positioned to meet the evolving needs of consumers and capitalize on the growing interest in licorice root-based products across industries.

In conclusion, the licorice root market is poised for sustained growth driven**Market Players**

Norevo (Germany), Hepner & Eschenbrenner GmbH & Co. KG (Germany), MARUZEN PHARMACEUTICALS CO., LTD. (Japan), Nutra Green Biotechnology Co., Ltd. (China), among others, are key players in the licorice root market landscape. These companies play a vital role in shaping the industry dynamics through their focus on product innovation, strategic collaborations, and geographic expansion strategies. By continually enhancing their offerings and diversifying their market reach, these players aim to capitalize on the growing demand for licorice root-based products across various sectors.

The licorice root market is undergoing a transformative phase marked by evolving consumer preferences towards natural and herbal ingredients. The increasing awareness about the health benefits associated with licorice root, including its anti-inflammatory and immune-boosting properties, is driving market growth. Furthermore, the dual functionality of licorice root as both a therapeutic ingredient in pharmaceuticals and a natural sweetening agent in food and beverage products positions it as a versatile and sought-after ingredient in the market. The ongoing research and development activities focused on exploring new applications of licorice root further contribute to market expansion, especially in the healthcare and personal care industries. As consumer demand for clean label products continues to rise, licorice root manufacturers have a unique opportunity to leverage this trend and cater to a growing market segment seeking natural and organic solutions. By aligning with these market dynamics and focusing on

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