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The licorice extract market size is forecast to increase by USD 912.1 million at a CAGR of 7.44% between 2023 and 2028.
The licorice extract industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The pharmaceuticals segment is estimated to witness significant growth during the forecast period.
Licorice extract, derived from the roots of the licorice plant, has long been utilized in traditional medicine for its diverse medicinal properties. In the pharmaceutical sector, the recognition of these benefits has led to its integration into various products. One primary application is in the treatment of respiratory ailments. The anti-inflammatory and expectorant properties of licorice extract make it an effective component in cough syrups, lozenges, and inhalers. For instance, Covonia, a subsidiary of Thornton and Ross Ltd, incorporates licorice extract into its cough syrup formulation, offering relief from cough and respiratory discomfort. Beyond respiratory health, licorice extract holds significance in addressing skin conditions, gastrointestinal issues, and cardiovascular health.
Its antimicrobial properties contribute to its use in treating infections, while its antiviral properties aid in combating viral infections. For skin conditions, licorice extract's anti-inflammatory and antioxidant properties help alleviate inflammation and promote skin healing. In the gastrointestinal system, licorice extract aids in the treatment of ulcers, acid reflux, and gastroesophageal reflux disease. However, it's essential to note potential drug interactions, such as with corticosteroids, diuretics, heart rhythm medications, and cholesterol-lowering medications, among others. Licorice extract is available in various forms, including liquid extracts, chewable tablets, capsules, candies, teas, and topical gels. DGL supplements, a specific form of licorice extract, is often used to address low potassium levels and stomach discomfort.
It's crucial to follow the recommended dosage to avoid potential side effects, such as high blood pressure, arrhythmia, and potassium imbalances. In , licorice extract, with its diverse medicinal properties, plays a significant role in various pharmaceutical applications. Its anti-inflammatory, antimicrobial, antiviral, and expectorant properties contribute to its use in treating respiratory ailments, skin conditions, and gastrointestinal issues. However, it's essential to be aware of potential drug interactions and side effects when using licorice extract.
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The Pharmaceuticals segment was valued at USD 645.90 million in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 35% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in APAC holds a substantial share due to increasing consumer demand for natural and healthy ingredients. With a large consumer base and the growing popularity of traditional medicine practices, this region is a significant contributor to the market's growth. The preference for natural alternatives, driven by concerns about synthetic ingredients and artificial additives, fuels market expansion. Licorice extract, known for its health benefits such as immune system support, respiratory health, and digestive aid, is increasingly favored by health-conscious consumers in APAC. Several compounds in licorice extract, including glycyrrhizin and corticosteroids, offer antimicrobial, antiviral, and anti-inflammatory properties. These properties make licorice extract useful in treating various conditions, including skin inflammation, upper respiratory disorders, and digestive problems.
However, it's essential to be aware of potential drug interactions, particularly with corticosteroids, heart rhythm medications, diuretics, and cholesterol-lowering medications. Licorice extract is available in various forms, including liquid extract, herbal teas, chewable tablets, capsules, candies, and tinctures. It's important to note that excessive consumption of licorice extract, particularly in the form of candies, can lead to low potassium levels, ulcers, and other side effects. DGL supplements, a form of licorice extract, are often used to treat peptic ulcers and acid reflux, including gastroesophageal reflux disease. In addition to its health benefits, licorice extract is used in treating various conditions, such as diabetes, eczema, Helicobacter pylori infections, and menopause symptoms.
However, it's crucial to consult a healthcare professional before using licorice extract, especially if you're pregnant, have high blood pressure, or are taking hormone therapy, warfarin, or birth control pills. Scientific evidence supports the use of licorice extract in treating various conditions. For instance, it's been shown to have antimicrobial properties against Streptococcus mutans bacteria, contributing to oral health conditions. Additionally, licorice extract may help prevent tooth decay and cavities. However, it's essential to be aware of potential side effects and drug interactions when using licorice extract. Proper dosage is crucial to minimize risks and maximize benefits.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The licorice extract market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the licorice extract market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, licorice extract market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
AOS Products Pvt. Ltd. - The company specializes in providing licorice extracts, including Liquorice and Sweet root, for the food industry. Our offerings enhance food products with unique flavors and potential health benefits. Licorice extracts, derived from the root of the licorice plant, are valued for their sweet taste and various applications. These extracts can be utilized in a wide range of food items, from baked goods to beverages, adding depth and complexity to flavors. Additionally, licorice extracts have been studied for their potential health benefits, such as soothing digestive issues and reducing inflammation. By incorporating these extracts into food products, companies can differentiate themselves and cater to consumers seeking natural, flavorful alternatives.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a wide range of products derived from the roots of the licorice plant, Glycyrrhiza glabra. This medicinal ingredient has been utilized for centuries due to its various health benefits, which include antimicrobial, anti-inflammatory, and antiviral properties. Licorice extract is commonly used to address several health conditions, such as upper respiratory disorders, skin inflammation, and digestive problems. Its antimicrobial properties make it an effective remedy against various bacterial infections, including Helicobacter pylori, the primary cause of peptic ulcers. Moreover, licorice extract has been known to provide relief from conditions like indigestion, acid reflux, and gastroesophageal reflux disease (GERD).
It is also used to alleviate symptoms of menopause, such as hot flashes and mood swings. However, the use of licorice extract is not without risks. Overconsumption can lead to side effects such as low potassium levels, heart rhythm disturbances, and increased blood pressure. It is essential to adhere to the recommended dosage when using licorice extract, especially when combined with other medications, such as diuretics, corticosteroids, and blood thinners. The market offers various forms of the ingredient, including liquid extracts, tinctures, herbal teas, chewable tablets, capsules, candies, and powders. These products cater to diverse consumer preferences and can be used to address a wide range of health concerns.
Despite its numerous health benefits, licorice extract is not without controversy. Some studies suggest that long-term use of licorice extract can lead to adverse effects, such as liver damage and hormonal imbalances. Additionally, the interaction between licorice extract and certain medications, such as warfarin and estrogen-based contraceptives, can be harmful. The scientific evidence supporting the use of licorice extract is extensive, with numerous studies demonstrating its potential health benefits. However, it is crucial to use licorice extract responsibly and in moderation, as excessive consumption can lead to adverse effects. In , the market represents a diverse range of products derived from the licorice plant, which offer various health benefits.
From antimicrobial and anti-inflammatory properties to relief from digestive problems and menopause symptoms, licorice extract has been used for centuries to address a wide range of health concerns. However, it is essential to use licorice extract responsibly and in moderation, as excessive consumption can lead to adverse effects.
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Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
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Market growth 2024-2028 |
USD 912.1 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.4 |
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Key countries |
China, India, US, France, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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