Chemical Research Report Licorice Extract Market - Size, Share, and Forecas

Licorice Extract Market - Size, Share,
Outlook, and Opportunity Analysis,
2018 - 2026
North America is expected to show significant growth in the licorice
extracts market globally, owing to growing usage of herbal medicines and
increasing demand for plant-based natural ingredients.
Licorice extracts derived from licorice roots are used as in medicines and is available in
powdered or liquid form. The extract is produced by boiling licorice roots (Glycyrrhiza glabra),
which is a plant native to the Mediterranean region. Apart from herbal medicines it is used as a
sweetener and flavoring agent. The extract has anti-inflammatory, antiviral, and detoxification
properties. It is widely used in the food industry as the extract is almost 50 times sweeter as
compared to sugar. 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.
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On the basis of product type licorice extracts market is segmented in food grade, feed grade,
and pharmaceutical grade. The pharmaceutical grade segment is expected to hold dominant
position in the market owing to large medicinal applications of the extracts 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.
On the basis of application licorice extracts market is segmented into food & beverages,
pharmaceutical, tobacco, and others. Pharmaceutical segment is expected to account for the
largest revenue share over the forecast period, due to increasing use of licorice extracts in
medicines. The extract has anti-microbial properties, improves the respiratory system, and
reduces stress. This market is further segmented into forms such as powder, liquid, and block.