Liquorice Market Size to grow by USD 676 million between 2024-2028
Technavio, a leading provider of market research reports, has released its latest study on Liquorice Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.
Key Highlights:
The market size is estimated to grow by USD 676 million, at a CAGR of 5.97% during the forecast period. In the global liquorice market, there has been a significant surge in demand for herbal liquorice products due to their immunity-boosting properties. The roots of the liquorice plant contain enzymes that facilitate the production of lymphocytes and macrophages, key components of the body's natural immune defense system. This trend is particularly noticeable in developed nations such as the US, Canada, and the UK, where consumers are increasingly health-conscious and concerned about inflammatory conditions like obesity. As a result, there is a growing preference for functional foods and beverages that offer immunity-enhancing benefits, driving market growth in the liquorice industry.
For insights on company offerings- Request a sample report!
The liquorice market represents a significant business opportunity, with global revenue projected to reach USD3.5 billion by 2027. Key drivers include increasing consumer preference for natural sweeteners and the growing demand for functional foods. Major players include Perfetti Van Melle, Ferrero SpA, and Haribo GmbH & Co. KG. Strategic partnerships, product innovation, and geographical expansion are crucial strategies for market growth.
About Technavio
Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/