Licorice Extract Market Demand is Likely to Surge at 6.8% CAGR by 2030 | BEIJING GINGKO GROUP, GLYCYRRHIZA GLABRA CO.

Licorice Extract Market by Product Type, Form, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030," the licorice extract market size was valued at$1,872.9million in 2020, and is projected reach $3,578.6 million by 2030, registering a CAGR of 6.8% from 2021 to 2030.

𝐀𝐬𝐤 𝐟𝐨𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/7077

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The global licorice extract market is segmented on the basis of product type, form, application, and region. Based on product type, the global market is segmented into food grade, feed grade, and pharmaceutical grade. By form, the licorice extract industry is categorized into powder, liquid, and block. Based on application, the global licorice extract market is studied across food & beverages, pharmaceutical, tobacco, and others. The global market is also analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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.

𝐁𝐮𝐲 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/checkout-final/4dc76904d7f4c734d8c3b3819672af57

Extensive research has been conducted to enhance immunity and to find cure of COVID-19 on traditional medicines such as licorice, gooseberries, turmeric, and star anise. These traditional medicines has shown effectiveness in improving the wellbeing of COVID-19 patients. As a result, Covid prevention and treatment guidelines has listed a number of recommended concoctions meant for COVID-19 patients. Licorice as one of the most frequently used ingredients in prescriptions for treatment of diseases especially in China

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Some of the major players profiled for in the licorice extract market analysis include BGG World, C.E. Roeper GmbH, F&C Licorice Ltd, GlycyrrhizaGlabra Co., Ltd, Mafco Worldwide LLC, Maruzen Pharmaceuticals Co., Ltd, Norevo GmbH, Ransom Naturals, Shaanxi Fujie Pharmaceutical Co, Ltd, and Zagros Licorice Co. Other prominent players analyzed in the licorice extract market report are ASEH, SanatProducts Limited, HB Natural Ingredients, Zelang Group, SepidanOsareh Co., Vpl Chemicals Pvt. Ltd, and Aushadhi Herbal.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/7077

With growing population, the global demand for animal feed is likely to amplify, owing to surge in consumption of meat products. According to the Food and Agriculture Organisation (FAO), the meat production is projected to rise by nearly 70%, aquaculture by 90%, and dairy by 55% by the end of 2050 as compared to 2010. Supplementation of livestock and poultry feed with herbal plants and extracts containing bioactive components have shown positive results. These additives are able to improve feed efficiency, antioxidant status, nutrient digestion, immunological indices, poultry health, and growth performance

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

By region, Asia-Pacific dominates the global licorice extract market, and is likely to retain its dominance towards the end of the forecast period.

By product type, the pharmaceutical grade segment led in terms of licorice extract market share, in 2020; and is expected to grow with robust CAGR in the upcoming years.

By form, the powder segment accounted for around three-fifth market share in 2020, and is projected to grow at the highest CAGR during the licorice extract forecast period.

By application, the pharmaceutical segment is expected to gain market share in the upcoming years.

Demand for organic licorice extracts is likely to be witnessed in North America and Europe.

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