Global Licorice Root Market: Snapshot
Growing use of licorice roots in diverse end-use industries is predicted to generate prodigious sales opportunities in the global licorice root market during the assessment period of 2020 to 2030. The products from the global market for licorice root are found in various forms such as paste, roots, extracts, blocks, and powder.
TMR’s upcoming research report on the licorice root market provides detailed study of several important factors such as drivers, sales estimates, restraints, growth opportunities, and challenges in this market. In addition to this, the study presents reliable data on competitive landscape and regional analysis of the market for licorice root for the tenure of 2020–2030.
The report bifurcates global licorice root market based on some key parameters such as product form, end-use industry, and region. Based on end-use industry, the global market for licorice root is classified into food and beverage industry, healthcare and pharmaceutical industry, cosmetic industry, and tobacco industry.
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Global Licorice Root Market: Growth Dynamics
According to National Center for Biotechnology Information (NCBI), licorice roots hold various medicinal properties such as anti-inflammatory, antiviral, immune-modulatory, anti-tumor, and anti-microbial. Apart from this, these roots are gaining traction on the back of presence of many pharmacological characteristics. As a result, licorice roots are widely used in the production of various products from pharmaceutical sector. This scenario depicts that the global licorice root market will experience prominent demand avenues in the forthcoming years.
The root extracts of licorice are widely included in the treatment of various health issues such as lung ailments, pulmonary and skin disorders, hepatitis C, arthritis, peptic ulcers, liver disorders, and mouth ulcers. In addition to this, growing use of this product for strengthening immunity is expected to stimulate notable demand avenues in the global licorice root market through the assessment period 2020–2030.
In food and beverages industry, licorice is extensively utilized for enhancing tea flavor. Apart from this, growing use of licorice as a flavoring additive in tobacco and candy is expected to drive demand opportunities for vendors operating in the global licorice root market in the years ahead.
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Global Licorice Root Market: Growth Restraints
Consuming licorice in excess amount can lead to health issues such as adrenal hormone disturbance, high blood pressure, hypokalemia, and hypernatremia. This aside, consistent obstruction of 11 -HSD2 owing to consumption of licorice in inapt proportion can lead to increased fluid volume and severe health issues to patients, specifically those dealing with heart problems. Owing to these factors, the licorice root market is predicted to experience sluggish growth in the forthcoming years.
Global Licorice Root Market: Competitive Analysis
Vendors operating in the global licorice root market are focused on improving the quality of products they offer. As a result, they are investing in research and development activities. Apart from this, many enterprises are advancing their production capabilities. On the back of all these factors, the global licorice root market is estimated to grow at promising pace in the forthcoming years.
The list of key players in the global licorice root market includes:
- Herbs Iran
- Naturex SA
- NOREVO GmbH
Global Licorice Root Market: Regional Assessment
In terms of region, the global licorice root market shows existence in many regions including Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. Of all regions, Asia Pacific is one of the lucrative regions in the market for licorice root. This growth is attributed to increased use of licorice root in the regional pharmaceutical sector. Apart from this, the market for licorice root is estimated to experience stupendous growth due to presence of many players in this region.
The world has undergone a major shift in the way of living since the COVID-19 pandemic struck. A notable change in the functioning of various businesses and sectors has influenced their working mechanisms extensively. The food and beverage sector is no stranger to this change. Transparency Market Research (TMR) has studied many aspects concerning the difference between the trends in the pre-pandemic and post-pandemic world across the food and beverage industry.
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