The Licorice Extract Market is segmented by Application (Pharmaceuticals, Food and beverages, Tobacco, and Others), Type (Powder, Liquid, and Block), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 912.1 million, at a CAGR of 7.44% during the forecast period. There are several companies that are contributing to the market as per this report. Rising demand for natural and organic products .
Licorice extract, derived from the roots of the licorice plant, has been utilized in traditional medicine for centuries due to its medicinal properties. In the pharmaceutical sector, the advancement of research and technology has led to the recognition of licorice extract's potential. Notably, licorice extract is a key ingredient in the treatment of respiratory ailments. Its anti-inflammatory and expectorant properties make it an effective component in cough syrups, lozenges, and inhalers. For instance, Covonia, a subsidiary of Thornton and Ross Ltd, a leading cough syrup brand, incorporates licorice extract into its formulation, providing relief from cough and respiratory discomfort.
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The licorice extract market witnesses significant growth due to its increasing demand in various end-use industries. Key applications include pharmaceuticals, food and beverages, and cosmetics. The extract's antioxidant and anti-inflammatory properties fuel its usage in health supplements and functional foods. Moreover, licorice extract's sweet taste and ability to enhance the flavor profile make it an essential ingredient in confectionery products. The market's expansion is further driven by rising consumer awareness and preference for natural and organic food and beverages.
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The Licorice Extract market has been gaining significant attention due to the numerous health benefits associated with this natural compound. Licorice extract, derived from the root of the licorice plant, is known for its anti-inflammatory properties and contains various compounds, including glycyrrhizin and triterpenoids. These compounds have been studied for their potential health benefits, including relief from digestive problems, inflammation, and menopause symptoms. Licorice extract is available in various forms, such as liquid extracts, candies, and herbal teas. It has been used traditionally to treat conditions like diabetes, oral health conditions, cavities, strep throat, asthma, upper respiratory conditions, and even cancer. Scientific evidence suggests that licorice extract may help inhibit the growth of H. pylori bacteria, which can cause peptic ulcers and gastroesophageal reflux disease. Additionally, it may aid in weight loss, improve skin conditions like eczema and acne, and provide relief from indigestion and acid reflux. It is important to note that consuming large amounts of licorice extract, particularly those containing glycyrrhizin, can have adverse effects, including high blood pressure and potassium levels. To mitigate these risks, many manufacturers offer deglycyrrhizinated licorice, which contains little to no glycyrrhizin. Overall, licorice extract continues to be a popular medicinal ingredient due to its potential health benefits.
The global packaged foods and meats market encompasses vendors engaged in food processing to ensure microbial elimination and shelf life extension. According to Technavio, the market's size is determined by the consolidated revenue of participating vendors. This market segment excludes food processing equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Market expansion will be fueled by the health benefits linked to minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. - The Licorice Extract Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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