Press release
Global Licorice Root Market - Industry Trends and Forecast to 2029
Global Licorice Root Market was valued at USD 0.98 billion in 2021 and is expected to reach USD 1.54 billion by 2029, registering a CAGR of 5.90% during the forecast period of 2022-2029. "Pharmaceutical Industry" accounts for the largest end user segment in the respective market owing to the rise in shift toward the use of organic treatments. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Covid-19 Impact on Licorice Root Market
The COVID-19 has impacted licorice root market. The limited investment costs and lack of employees hampered sales and production of extracts. However, market key players adopted new safety measures for developing the products. The online distribution channel changing the shopping habits of people as it offers benefits such as easy payment methods, availability of a wide range of products, doorstep delivery and heavy discounts assisted in the growth of the market during the pandemic, and will further accelerate the growth during the post-pandemic situation.
Global Licorice Root Market Scope and Market Size
The licorice root market is segmented on the basis of product form, product type, function type, grade type, raw material type, ingredient type, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Form
• Roots
• Extracts
On the basis of product form, the licorice root market is segmented into roots and extracts. The roots are further sub-segmented into blocks, powder, paste and other.
Product Type
• Essential Oils
• Liquid Malt Extract
• Oleoresins
• Herbs And Spices Dry Malt Extract
• Malt Flour
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