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:

• Market Research Overview: 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 generated by the market participants. This market excludes food processing equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Factors fueling the market's growth include the health benefits associated with consuming minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. - The Liquorice Market is experiencing significant growth, fueled by the Growing demand for food and beverages with herbal ingredients. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Growing demand for food and beverages with herbal ingredients
  • Growing adoption of herbal medicine
  • Providing high-quality herbal products
  • High price of products
• Growth Projections

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.

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• Regional Insights

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.

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