FMI Licorice Extract Market Revenue, Opportunity, Fore | Page 4

Licorice Extract Market
Licorice Extract Market size and Key Trends in terms of volume and value 2017-2027
Licorice extract is derived from licorice root which is widely used as a medicinal herbs across the globe.
The extract is produced by boiling licorice root and subsequently evaporating most of the water. It is a
natural ingredient which is available in liquid or powdered root form. Traditionally, licorice was used as an
herbal medicine in China bit now it is used by the tobacco industry and also widely used as a flavoring
agent by the various food and beverages industry such as in tea, confectionary and others. Increasing
demand for plant based natural sweetener and flavor is expected to support the licorice extract market
growth during the forecast period.
Licorice Extract Market Segmentation
Licorice extract is segmented on the basis of application which includes food industry, pharmaceutical
industry, feed industry cosmetic industry and others. Among all these segment pharmaceutical industry is
expected to represent major value share during the forecast period. Increased medicinal usage of licorice
extract coupled with rising opportunities of licorice extract in prevention of cancer is expected to drive
the segment growth over the forecast period. Food industry is expected to represent favorable growth in
licorice extract market in the near future. Increasing application of licorice extract in beverages and
confectionery products due to its natural sweetener property is expected to support the segment growth
in licorice extract market.
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