Licorice Root Market to rise to a valuation of US$ 1,159.8 Mn by the end of 2028

With these trends gaining traction, a report published by Future Market Insights (FMI) states that the global licorice root market is expected to exhibit a CAGR of 5.1% from 2018 to 2028. In 2017, the global licorice root market was worth US$ 669.4 Mn and is expected to rise to a valuation of US$ 1,159.8 Mn by the end of 2028.

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The food and beverage industry in North America is colossal and comprises and number of players in largely fragmented and multi-tiered supply chains. The industry is stringently regulated and players often have to adapt to a landscape that changes quite frequently. The primary demand drivers in North America are witnessing fast-paced evolution, as dietary habits receive emphasis, especially among consumers who scour every label to read the ingredients. Although mergers and acquisitions have been a staple in the food and beverage industry, uncertainties in political climate in Europe and America lead to a slowdown in 2016. As there is more clarity on the U.S. Presidential election and Brexit, the pace of mergers and acquisitions is likely to pick up.

The evolving tastes and preferences of consumers are not lost on manufacturers, as offerings have been broadened to accommodate organic and natural food products. Many established players are focusing in acquiring smaller companies which have the expertise and reputation of being pros in specific organic and natural domains. These smaller companies have deep brad loyalty, and owing to the small scale of production, it is much easier for them to come up with innovative products. These factors, combined with increasing emphasis on organic and natural, are likely to make smaller companies attractive targets for mergers and acquisitions.

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Overharvesting of Licorice Root and Resource Depletion to Negatively Impact Global Market Growth

Being a wild crop and sourced from natural habitats, the availability of licorice root is very low. The widespread demand for licorice has outgrown its supply and overharvesting has led to resource depletion. In order to address this, governments across the globe have undertaken measures to prevent licorice root from depletion and also to balance the price points in the global market.

The global licorice market has been segmented into:

By Product Form
Roots
Extracts
Blocks
Powder
Paste
Others

By End Use
Food & Beverage Industry
Tobacco Industry
Pharmaceutical Industry
Cosmetic Industry
Dietary Supplements

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Table Of Content
1. Executive Summary
2. Market Introduction
3. Licorice Root Market Background
4. Global Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028
5. Global Supply/Demand Analysis, By Region
6. Global Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028, by Product Form
7. Global Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028, by End Use
8. Global Licorice Root Market Analysis and Forecast, By Region

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

This release was published on openPR.