FMI Licorice Extract Market Revenue, Opportunity, Fore | Page 5

Licorice Extract Market
Licorice extract market is further segmented on the basis of grade which includes pharmaceutical grade,
food grade and feed grade. Due to increasing application and rising opportunities regarding the usage of
licorice extract by the pharmaceutical industry is expected to support the segment growth over the
forecast period. Food grade licorice extract is expected to represent substantial share in terms of value in
the near future. Increasing usage of licorice extract by the food industry due to rising demand for the
consumption of natural ingredient is expected to support the segment growth over the forecast period.
Licorice Extract Regional Analysis
Licorice extract market is segmented on the basis of region which includes North America, Latin America,
Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa and Japan.
Geographically, Europe is expected to be one of the largest market in terms of value for licorice extract,
owing to increasing consumer shifting preference towards consumption of natural and plant based
ingredients. Moreover, in European countries Licorice is increasingly being used to produce Mono
Ammonium Glycyrrhizinate (MAG), which is used as a masking agent in products sweetened by stevia
which is further expected to support the market growth in the region. Among the countries, Germany is
expected to remain major markets in terms of consumptions for licorice extract followed by U.K. and
Italy. In Europe, Germany was the largest importer of licorice in the year 2015.Asia Pacific is expected to
represent favorable growth in terms of value over the forecast period. In the region China is the largest
producer of licorice followed by other central Asian countries.
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