Market Introduction:
Glycyrrhizin is a chemical which is found in the roots of Glycyrrhiza glabra (liquorice), the plants belongs to legume family. Glycyrrhiza glabra is native to the regions of Asia Pacific and Western Europe. It’s been ages that glycyrrhizin is used as an herbal medicine in china. Glycyrrhizin is also used as a sweet flavoring agent in sweets, toothpaste, chewing gums soft drinks and beers. In various parts of Asia pacific glycyrrhizin is also used as an ingredient in hot herbal tea. It is said to be much sweeter than the regular sugar we consume in our daily life. Research has found that glycyrrhizin has a glucocorticoid properties in it, similar to steroids. Glycyrrhizin has positive as well as adverse health effects on human body. Glycyrrhizin is also used as a gelling agent in food and cosmetic products.
Market Segmentation:
Glycyrrhizin market is segment on the basis of application, distribution channel and region. On the basis of application the market is segmented into pharmaceuticals, food & beverage and cosmetic industries. Among all these segment pharmaceuticals is expected to grow to a great extent in the forecast period, as there is a humongous use of glycyrrhizin in treating various diseases. The demand for glycyrrhizin is also more as it is used as a sweetening agent in the food and beverage industry. On the basis of distribution channel the market is segmented into upermarkets/hypermarkets, medical stores and online stores. Medical stores is anticipated to hold a relatively higher share in the glycyrrhizin market, followed by supermarkets/hypermarkets. On the basis of region the glycyrrhizin market is segmented into North America, Latin America, Europe, Asia Pacific & Japan and MEA.
Market Regional Outlook:
Regional segment for the market of glycyrrhizin is divided into five different regions: North America, Latin America, Europe, Asia Pacific & Japan and MEA. Among these segment Asia Pacific is expected to be the leader of glycyrrhizin market share globally, and is expected to be dominant in the forecaster period. In Asia Pacific region the countries like china and japan are the key market for glycyrrhizin, Uzbekistan is also generating high revenue as the country is one of the largest producers of glycyrrhizin. In terms of revenue Europe is the expected to be the second leading contributor in the glycyrrhizin market, followed by North America.
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Market Drivers:
The rising awareness about the medical benefits glycyrrhizin among the consumers is driving the market of glycyrrhizin. The market of glycyrrhizin is also increasing due to the strong increase of disposable personal income along with rising population and the multiple use of glycyrrhizin in the food & beverage and pharmaceutical industry. With the arrival of new market players in the global market is anticipated to boost the growth of glycyrrhizin market globally during the forecast period. Glycyrrhizin offers a lot of health benefits such as it helps in the prevention of peptic ulcers which cause abdominal pain and loss of appetite, acts as a good anti-bacterial agent, its stops the fat accumulation in the body and to lose weight. Glycyrrhizin is also used to cure long term chronic disease like hepatitis C. The market of glycyrrhizin is also expected to grow because of the growing demand of glycyrrhizin in the Asia Pacific region due to the wide range of application in the cosmetic industry. Along with the health benefits associated with glycyrrhizin, there are some adverse effects which will hinder the growth of the glycyrrhizin market such as, it induces the blood pressure which may cause some adverse effect, loss of potassium from the blood occurs which may cause muscle weakness. Moreover, consumption of glycyrrhizin by a pregnant woman may lead to premature delivery of the baby.
Market Key Players:
Some of the key players in glycyrrhizin market are Minophagen Pharmaceutical Co Ltd., Douglas Labs, Shaanxi Fujie Pharmaceutical Co. Ltd, FAME Pharmaceuticals Industry Co., Ltd., MAFCO Worldwide LLC, Fanzhi Group, Gansu Yalan Pharmaceutical Co., Ltd ,Greenline Biotech Co., LTD, Ruihong Bio-technique, ELION Group Limited., Hunan Dinuo Pharmaceutical Co., Ltd., MARUZEN PHARMACEUTICALS CO., LTD., Xinjiang TIANSHAN Pharmaceuticals Industry Co.,Ltd, Qingdao Taitong Pharmaceutical Co., Ltd. CokeyCo.,Ltd
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