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.
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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.
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.
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more Information:
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