The
global licorice extracts market is expected to witness a steady
growth in the forthcoming years, according to Transparency Market
Research (TMR). The vendor landscape is characterized by a high
degree of competition within the market players. The market
participants are expected to focus on product improvisation and
innovation, coupled with strategies to expand their business in the
coming years to thrive in the market. Leading players operating in
the global licorice extracts market are ASEH Licorice MFG & Exp.
Co., Zelang Group, Zagros Licorice Co., F&C Licorice Ltd.,
Maruzen Pharmaceuticals Co. Ltd., SepidanOsareh Co., and Norevo GmbH.
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The
report predicts that the global licorice extracts market will reach
US$2.3 bn by 2025, from US$1.70 bn in 2016. Considering these values,
the market is expected to exhibit a steady 4.0% CAGR over the
forecast period of 2017 to 2025.
Based
on its form, the segment of powdered licorice extracts is anticipated
to exhibit higher demand than the others. This could be accounted to
the extensive use in food and beverages, along with skin care
products. The segment is expected to maintain its leading position
over the forecast period.
Asia
Pacific is powered by emerging nations such as Japan, China and
India, and resultantly held roughly 32% of the global market share in
2016. The region is witnessing an explosive population, and combined
with its booming food and beverage industry, Asia Pacific is
predicted to emerge as the leading region in the global licorice
extracts market.
Growing
Demand for “Natural” Ingredients to Fuel Licorice Extracts Market
The
key factor that is adding to the market development is the expanding
inclinations of the buyers for the items that are produced using
regular items which are particularly in the developing economies. In
the generation of the home grown prescriptions and other natural
products, the utilization of the licorice extract is growing rapidly.
Licorice extracts has a few medical advantages hence its demand is
rising over the world. The factor that hampers the development of the
licorice
extract market is the low accessibility of the raw materials
which are, thus, augmenting the cost of the licorice. However, the
market has lucrative growth opportunities with the rising uptake of
herbal medicines in developed countries across the world.
In
China, licorice extracts are generally utilized for the treatment of
ulcers and to improve resistance in body by normally boosting
interferon levels. It is otherwise called "The Great Detoxifier"
in China. In Japan, it is utilized for the treatment of constant
hepatitis B. There is a rising interest in utilizing licorice
extracts in food foams. Inferable from foaming properties of licorice
extracts, it is picking up significance in the applications. This
extract upgrades the quality and time span of usability of the foam.
Thus, these extracts are generally utilized as a part of the beverage
industry as foaming specialist.
Pharmaceutical
Industry to Provide Rich Growth Opportunity
While
the full therapeutic capacities of licorice has not been totally
tried, a few advantages have been demonstrated and others have enough
help to warrant its incorporation in various supplements. Frequently
found in teas and utilized as a part of various food items as a
flavor enhancer, licorice extract can offer assistance in regards to
stomach issues, for example, acid reflux, and has some more important
symptoms that ought to be considered.
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