Licorice Root Market Industry Statistics: Growth, Share, Value, and Trends

Licorice Root Market Industry Statistics: Growth, Share, Value, and Trends

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Licorice Root Market Size And Forecast by 2031

Global licorice root market size was valued at USD 4.20 billion in 2023 and is projected to reach USD 5.62 billion by 2031, with a CAGR of 3.7% during the forecast period of 2024 to 2031. . Licorice Root Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of  Size, Share, Scope, Demand, Growth, Value, Opportunities, Industry Statistics, Industry Trends, Industry Share, Revenue Analysis, Revenue Forecast, Future Scope, Challenges, Growth Drivers, leaders, graph, insights, Research Report, companies, overview, outlook and factors that are playing a substantial role in the market.

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 Which are the top companies operating in the Licorice Root Market?

The “Global Licorice Root Market ”study report will provide a valuable insight with an emphasis on the global market. The report profiles noticeable organizations working in the water purifier showcase and the triumphant methodologies received by them. It likewise reveals insights about the share held by each organization and their contribution to the Licorice Root Market extension. This Licorice Root Market report provides the information of the Top 10 Companies in Licorice Root Market in the market their business strategy, financial situation etc.

**Segments**

- By Form: Powder, Liquid, Paste
- By Type: Glycyrrhiza Glabra, Glycyrrhiza Glabra
- By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Online Retail

**Market Players**

- Naturex
- ASEH
- VPL Chemicals
- Maruzen Pharmaceuticals
- Aushadi Herbal
- Afya Organics
- Kanakdhara Co.
- Merck KGaA

The global licorice root market is anticipated to experience significant growth by 2031 due to the rising demand for natural and herbal products across various industries. Licorice root, also known as Glycyrrhiza glabra, is a popular herb used in traditional medicine and the food and beverage sector. The market is segmented based on form, type, and distribution channel. By form, the market includes powder, liquid, and paste forms of licorice root. The liquid form is expected to witness high demand due to its ease of use in various applications. In terms of type, the market is divided into Glycyrrhiza glabra and Glycyrrhiza glabra varieties, with the former being the dominant segment due to its widespread availability and medicinal properties. The distribution channels for licorice root products include supermarkets/hypermarkets, convenience stores, and online retail platforms, with online retail experiencing rapid growth attributed to the increasing trend of e-commerce.

Key market players in the global licorice root market include Naturex, ASEH, VPL Chemicals, Maruzen Pharmaceuticals, Aushadi Herbal, Afya Organics, Kanakdhara Co., and Merck KGaA. These companies are focusing on product innovation and strategic partnerships to expand their market presence and gain a competitive edge. Naturex, a prominent player in the market, is known for its wide range of licorice root extracts used in various industries such as pharmaceuticals, food andThe global licorice root market is poised for significant growth, driven by the increasing consumer preference for natural and herbal products across different sectors. Licorice root, also known as Glycyrrhiza glabra, has a long history of use in traditional medicine and food and beverage applications. The market segmentation based on form, type, and distribution channels provides insights into the diverse dynamics shaping the industry landscape.

The different forms of licorice root products, including powder, liquid, and paste, cater to varied consumer preferences and usage requirements. The liquid form is expected to witness substantial demand owing to its convenience and versatility in applications such as beverages, syrups, and topical solutions. The powder form, on the other hand, is popular in herbal supplements and traditional medicine formulations. The choice of form also influences the ease of storage, transportation, and shelf-life of licorice root products, impacting consumer purchasing decisions.

In terms of types of licorice root, the market encompasses various varieties, with Glycyrrhiza glabra being the dominant type due to its widespread availability and recognized medicinal properties. The distinct characteristics of different licorice root types, such as flavor profiles, active compounds, and potential health benefits, contribute to their utilization in diverse end-use applications. The market players are continually exploring the unique properties of different licorice root types to develop innovative products and meet evolving consumer demand for natural and functional ingredients.

The distribution channels play a crucial role in reaching target consumers and driving market growth. Supermarkets/hypermarkets, convenience stores, and online retail platforms serve as key channels for licorice root products, each offering distinct advantages in terms of convenience, accessibility, and product visibility. The growing prominence of online retail channels presents opportunities for market players to reach a broader audience, engage with consumers through digital marketing strategies, and streamline the purchasing process. The shift towards online shopping habits, especially in the wake of the COVID-19 pandemic, has accelerated the adoption of e-commerce**Market Players**

Norevo (Germany)
Hepner & Eschenbrenner GmbH & Co. KG (Germany)
MARUZEN PHARMACEUTICALS CO., LTD. (Japan)
Nutra Green Biotechnology Co., Ltd. (China)

The global licorice root market is experiencing significant growth momentum, driven by the increasing consumer preference for natural and herbal products. Licorice root, known for its botanical name Glycyrrhiza glabra, has a deep-rooted history in traditional medicine and finds extensive applications across various industries, particularly in pharmaceuticals and food and beverages. The market segmentation based on form, type, and distribution channels provides valuable insights into the market dynamics shaping the industry landscape and driving growth opportunities.

The availability of licorice root products in diverse forms such as powder, liquid, and paste caters to a wide range of consumer preferences and application requirements. The liquid form, known for its convenience and versatility, is witnessing robust demand, especially in beverage manufacturing and topical solutions. In contrast, the powder form remains popular in herbal supplements and traditional medicine formulations due to its ease of incorporation. The choice of form is a crucial factor influencing storage, transportation, and shelf-life considerations, impacting consumer choices and product positioning in the market.

Within the different types of licorice root available, Glycyrrhiza glabra emerges as the dominant variety, primarily due to its widespread availability and well-recognized medicinal properties. The unique characteristics of

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Overview of the Licorice Root Market Research Report

The Licorice Root Market research report commences with an in-depth overview covering definitions, applications, product/service launches, developments, challenges, and regional analysis. The forecast underlines robust growth fueled by increasing consumption in diverse markets. Furthermore, the report delves into current market trends and key characteristics.

Objectives of the Report

Conduct a comprehensive investigation to forecast the value and volume of the Licorice Root Market.

Analyze and project market shares for major segments within the Licorice Root Market.

Depict the evolving landscape of the Licorice Root Market across global regions.

Examine and assess micro markets, their contributions, and growth potential within the Licorice Root Market.

Provide accurate insights into the factors driving the growth of the Licorice Root Market.

Offer a detailed analysis of key strategies adopted by major companies, such as R&D, collaborations, agreements, partnerships, acquisitions, mergers, new product launches, and other strategic initiatives.

Market Overview

The study concentrates on the present state of the Licorice Root Market, evaluating key statistics including CAGR, gross margin, revenue, pricing, production growth rate, volume, value, market share, and year-over-year growth. This thorough analysis is conducted using the latest primary and secondary research methods. Leading company profiles are scrutinized based on factors like the markets they serve, production, revenues, market shares, recent developments, and gross profit margins. The report also provides a detailed exploration of market drivers, constraints, opportunities, challenges, and trends within the market dynamics section.

Table of Contents: 
Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
Market Purview
Report DescriptionMarket Definition and Scope
Executive Summary
Market Snapshot, By Type
Market Snapshot, By Application
Market Snapshot, By Region
Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Market Opportunities
And more...

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