Licorice Extract Market, by Product Type (Food Grade, Feed Grade and Pharmaceutical Grade), by Form (Powder, Liquid and Block), by Application (Food & Beverages, Pharmaceutical, Tobacco and Others), and by Geography - Trends and Forecast till 2025

Licorice Extracts - Insights

Licorice extracts are used as in medicines and is available in powdered or liquid form, which is derived from licorice roots. It is produced by boiling licorice roots (Glycyrrhiza glabra), which is a plant native to the Mediterranean region. This extract is used as a sweetener, flavoring agent, and in herbal medicines. Furthermore, it is significantly consumed owing to its anti-inflammatory, antiviral, and detoxification properties. Licorice extract is sweeter as compared to sugar (almost 50 times), hence, it is widely used in the food industry. Increasing demand for herbal medicines, plant-based sweeteners, and growing awareness related to sugar free products is expected to drive growth of licorice extracts market during the forecast period.

Licorice extracts are segment on the basis of product type in food grade, feed grade, and pharmaceutical grade. The pharmaceutical grade segment is expected to account for the largest market share over the forecast period. This can be attributed to large medicinal applications of the extract along with increasing use in cancer prevention. Food grade segment is expected to accounts for a substantial market share in terms of revenue. Increasing use of licorice extracts in food industry and growing demand for natural ingredient is projected to boost growth of the licorice market. Licorice extracts are further segmented on the basis of application, which includes food & beverages, pharmaceutical, tobacco, and others. Pharmaceutical segment is expected to account for the highest revenue share over the forecast period, due to increasing use of licorice extracts in medicines due to its anti-microbial properties. It aids in improving the respiratory system, reducing stress, and among others fueling growth of the market. This market is further segmented into forms such as powder, liquid, and block. Powder form segment was the dominant segment, in 2016, in terms of revenue share in the market. This is attributed to its wide application in food and beverages and cosmetic industries.

Asia Pacific is the dominant region in the global licorice extracts market and was valued at US$ 612.16 Mn in 2016. This is attributed to increasing demand from the pharmaceutical industry. In China, licorice extracts are widely used for the treatment of ulcers and to enhance immune system by naturally boosting interferon levels. It is also known as “The Great Detoxifier” in China. In Japan, it is used for the treatment of chronic hepatitis B. There is a rising interest of using licorice extracts in food foams. Owing to foaming properties of licorice extracts, it is gaining importance in food foams. This extract enhance the quality and shelf-life of the final product. Hence, these extracts are widely used in the beverage industry as foaming agent.

Europe is the second largest region in global licorice extracts market, in terms of revenue, over the forecast period. The market growth is driven by increasing demand for low calorie food and for the production of sweeteners such as MAG (Mono Ammonium Glyzyrrhizinat). European countries such as Germany and France are expected to account for highest imports of licorice extracts in Europe for use in food applications. In Europe, it is widely used for the production of MAG which is used as masking agent in products sweetened by stevia. Manufacturers in the market are focusing on research and development activities for developing new products.

North America is expected to show significant growth in the global licorice extracts market owing to growing usage of herbal medicines and increasing demand for plant-based natural ingredients. Licorice extracts is used to impart flavors to tobacco products hence, increasing demand for cigarettes is expected to fuel the market growth. However, in 2016, U.S. FDA (Food & Drug Administration), issued a warning to consumers against the use of licorice containing coughing liquid as it contains unidentified morphine, which may have adverse effects on human health including allergic reactions, respiratory depression, and death.

The licorice extracts market was valued at US$ 1,779.59 Mn in 2016 and is expected to expand at a CAGR of 5.7%, in terms of revenue, during 2017–2025.

Figure 1. Global Licorice Extracts Market Share, By Region

licorice extracts market

Source: Coherent Market Insights (2017)

Asia Pacific is expected to account for a share of 34.40% in 2016, in global licorice market. The increasing usage of licorice extract for cancer treatment led to an increase in production of licorice extracts for application in the pharmaceutical industry for manufacturing herbal medicine.

Major Players in the Global Licorice Extracts Market

Some of the key players in the global licorice extracts market include Norevo GmbH, MAFCO Worldwide LLC, FC Licorice, Zagros Licorice Co., Ransom NaturalsLtd., Aushadhi Herba, VPL Chemicals, Sepidan Osareh Co., and others.

Licorice is root of Glycyrrhiza glabra, which is a widely used as medicinal herb. Licorice extract is produced by boiling its root. It is effectively used as anti-bacterial, anti-inflammatory, anti-diabetic, anti-fungal, anti-oxidant, anti-diuretic agent, and for skin whitening. Licorice is used as a sweetener in beverages and candies and also as medical herb, as a flavoring agent in tea and in confectionery. The licorice extracts market is witnessing a steady growth due to increasing demand for herbal products, pharmaceuticals products, and others. However, allergic reactions, vision problems, weight changes etc. are some of the restraining factors expected to adversely affect growth of the licorice extracts market.    

Market Dynamics

Asia Pacific is expected to be dominant in the global market over the forecast period. This is mainly attributed to increasing demand for herbal medicines and in pharmaceuticals. In Europe, increasing consumer preference for natural ingredients in food and beverages drives growth of the licorice extracts market. Furthermore, demand for licorice from confectionery industry is also projected to witness significant growth owing to increasing consumer preference for sugar free items, driving growth of the licorice extract market. Also, growing production of MAG sweeteners and usage of licorice extracts in tobacco products is expected to boost growth of the market.

Key features of the study:

  • This report provides in-depth analysis of licorice extracts and provides market size (US$ Mn and Kilotons (KT)) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017–2025), considering 2016 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global licorice extracts market on the basis of the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Norevo GmbH, MAFCO Worldwide LLC, FC Licorice, Zagros Licorice Co., Ransom Naturals Ltd., Aushadhi Herba, VPL Chemicals, Sepidan Osareh Co. and among others.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
  • The global licorice extracts market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the licorice extracts market

Detailed Segmentation:

  • Global Licorice Extracts Market, By Product Type:
    • Food Grade
    • Feed Grade
    • Pharmaceutical Grade
  • Global Licorice Extracts Market, By Form Type:
    • Powder
    • Liquid
    • Block
  • Global Licorice Extracts Market, By Application:
    • Food & Beverages
    • Pharmaceutical
    • Tobacco
    • Others
  • Global Licorice Extracts Market, By Geography:
    • North America
      • U.S.
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Canada
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
    • Europe
      • U.K.
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Germany
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Italy
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • France
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Russia
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Rest of Europe
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
    • Asia-Pacific
      • China
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • India
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Japan
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • ASEAN
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Australia
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • South Korea
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Rest of Asia Pacific
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
    • Latin America
      • Brazil
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Mexico
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Rest of Latin America
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
    • Middle East
      • GCC
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Israel
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Rest of Middle East
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
    • Africa
      • North Africa
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • Central Africa
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
      • South Africa
        • By Product Type:
          • Food Grade
          • Feed Grade
          • Pharmaceutical Grade
        • By Form Type:
          • Powder
          • Liquid
          • Block
        • By Application:
          • Food & Beverages
          • Pharmaceutical
          • Tobacco
          • Others
  • Company Profiles
    • Norevo GmbH *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • MAFCO Worldwide LLC
    • FC Licorice
    • Zagros Licorice Co.
    • Ransom Naturals Ltd.
    • Aushadhi Herba
    • VPL Chemicals
    • Sepidan Osareh Co.
    • Zelang Group
    • Maruzen Pharmaceuticals Co. Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Product Type
      • Market Snippet By Form
      • Market Snippet By Application
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Type Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Licorice Extracts Market, By Product Type, 2017–2025 (US$ Mn & Kilotons)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017–2025
      • Segment Trends
    • Food Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
    • Feed Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
    • Pharmaceutical Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
  5. Global Licorice Extracts Market, By Form, 2017–2025  (US$ Mn & Kilotons)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017–2025
      • Segment Trends
    • Powder
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
    • Liquid
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
    • Block
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
  6. Global Licorice Extracts Market, By Application, 2017 – 2025  (US$ Mn & Kilotons)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017–2025
      • Segment Trends
    • Food & Beverages
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
    • Pharmaceutical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
    • Tobacco
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn & Kilotons)
  7. Global Licorice Extracts Market, By Region, 2017–2025  (US$ Mn & Kilotons)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2025
    • North America
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017–2025
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
    • Europe
      • Market Share Analysis, By Country, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017–2025
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017–2025
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
    • Latin America
      • Market Share Analysis, By Country, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017–2025
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
    • Middle East
      • Market Share Analysis, By Country, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017–2025
        • GCC
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Israel
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Rest of Middle East
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
    • Africa
      • Market Share Analysis, By Country, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017–2025
        • North Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • Central Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Form, 2017–2025  (US$ Mn & Kilotons)
          • Market Size and Forecast, By Application, 2017–2025  (US$ Mn & Kilotons)
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Norevo GmbH
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • MAFCO Worldwide LLC
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • FC Licorice
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Zagros Licorice Co.
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Ransom Naturals Ltd.
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Aushadhi Herba
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • VPL Chemicals
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Sepidan Osareh Co.
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Zelang Group
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Maruzen Pharmaceuticals Co. Ltd.
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 300 market data tables* and 90 figures* on "Licorice Extracts Market” - Global forecast to 2025.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

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  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.