Licorice Extract Market Industry Is Booming Across the Globe Explored in Latest Research

According to the report published by Allied Market Research, the global licorice extract market was estimated at $1.87 billion in 2020 and is expected to hit $3.57 billion by 2030, registering a CAGR of 6.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Benefits of licorice extracts for treatment of Covid-19 and rise in demand from the cosmetic industry fuel the growth of the global licorice extract market. On the other hand, availability of a variety of substitutes for licorice in the food & beverage industry impedes the market growth to some extent. However, demand from the animal feed industry and increase in popularity of natural & clean label products would pave the way for lucrative opportunities in the industry.

Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/7077

Covid-19 scenario:

Disrupted supply chain and increased prices for raw materials had a negative impact on the market, especially during the first phase of the lockdown.
However, increase in health consciousness among consumers led to rise in demand for licorice extracts, thereby impacting the growth of the market positively.
Moreover, rise in demand for clean labels, organic, and natural products has been beneficial for the global licorice extract market.
The global licorice extract market is analyzed across product type, form, application, and region. Based on product type, the pharmaceutical grade segment held the highest share in 2020, accounting for more than half of the global licorice extract market. However, the feed grade segment is expected to register the highest CAGR of 8.5% during the forecast period.

Based on form, the powder segment would cite the fastest CAGR of 7.4% from 2021 to 2030. At the same time, the segment also generated the highest share in 2020, accounting for nearly three-fifths of the global licorice extract market.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/7077

By region, the market across Asia-Pacific would cite the fastest CAGR of 7.7% during the forecast period. Simultaneously, the region also held major share in 2020, garnering nearly three-fifths of the global market. The other provinces studied in the report include North America, Europe, and LAMEA.

The key market players analyzed in the global licorice extract market report include C.E. Roeper GmbH, F&C Licorice Ltd, Mafco Worldwide LLC, Maruzen Pharmaceuticals Co., Ltd, Norevo GmbH, Ransom Naturals, BGG World, Zagros Licorice Co., Glycyrrhiza Glabra Co., Ltd, and Shaanxi Fujie Pharmaceutical Co, Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

Read More: https://www.alliedmarketresearch.com/licorice-extract-market-A06712

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.