A16166 | Pages: NA | Jul 2022 | 63 Views | | |
Author(s) : Roshan Deshmukh | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Licorice Root Market
Request Now !The liquorice plant, sometimes known as licorice, is a perennial herbaceous legume. Herbalists and traditional healers employ licorice extracts. The root of the licorice plant is used to treat gastrointestinal issues. Licorice root extract is used to mend the stomach lining and restore equilibrium in situations of food poisoning, stomach ulcers, and heartburn. It is also useful in the treatment of respiratory issues. During the forecast period of 2020 to 2030, the growing use of licorice roots in a variety of end-use sectors is expected to provide significant sales possibilities in the worldwide licorice root market. Licorice root is available in a variety of forms on the global market, including paste, roots, extracts, blocks, and powder.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2030 |
Forecast Unit | Value (USD) |
Regions Covered | North America, Europe, Asia-Pacific, LAMEA |
Segments Covered | Form, Type, End User, and Region |
Companies Covered | Iran Medical Herb., Fanavaran-e-Tosee Sanat-e-Gharb , Glycyrrhiza Glabra Co Ltd., Naturex SA, NOREVO, Green Agro Invest LLC, Hepner & Eschenbrenner GmbH & Co. KG, MARUZEN PHARMACEUTICALS CO. LTD., and Nutra Green Biotechnology Co., Ltd |
COVID-19 Impact analysis
Top Impacting Factors
Market Trends
Health benefits offered by licorice root to boost growth
According to NCBI, the metabolite licorice root has antiviral, anti-inflammatory, anti-microbial, immune-modulatory, and anti-tumor properties, as well as a wide range of pharmacological properties. Market trends will be driven by these advantageous attributes.Furthermore, the use of licorice to enhance tea flavor, as well as its use as a flavoring additive in confectionery and cigarettes, will provide the market with additional growth prospects in the coming years. Licorice root extracts have been shown to help with pulmonary and skin illnesses, arthritis, hepatitis C, mouth ulcers, gastric ulcers, and liver disorders, as well as overall body immunity.
Licorice is also used to treat respiratory and gastrointestinal problems. It is said to have immunostimulatory, hepa-protective, anti-carcinogenic, anti-oxidant, anti-infective, anti-cancer, detoxifying, and anti-ulcer properties, providing protection and increasing the activities of the endocrine, nervous, respiratory, and cardiovascular systems. Licorice's polyphenolic flavonoids have hypoglycemic effects by modulating lipid and glucose metabolism, which helps to guide market growth.
Licorice root use is likely to increase in the pharmaceutical business in the coming years
The pharmaceutical sector has boosted its demand for licorice in recent years, as it is an important component of Chinese herbal medicine. The market for Chinese herbal remedies containing over 70% licorice is growing rapidly, particularly in Europe and the United States, as the population in these regions shifts toward the use of organic treatments. The pharmaceutical industry's need for licorice is mostly driven by the growing demand for Chinese medicines.
To fulfill rising demand from the pharmaceutical and other vertical industries, manufacturers are partnering with harvesters to keep licorice production consistent and prices from skyrocketing on the worldwide market.This is predicted to assist increase the amount of licorice-growing land, resulting in a significant increase in the worldwide licorice root market's income.
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Questions answered in the Report
Key Market Segments
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