Licorice extract comes from the licorice plant. The root of the plant is primarily used in preparing the extract, and the hard woody plant is pulped then boiled to further extract and refine the contents.
Licorice extract is a natural ingredient often found in both food and herbal medicine supplements. While the full medicinal effectiveness of licorice has not been completely tested, some benefits have been proven and others have enough support to warrant its inclusion in a number of supplements. Often found in teas and used in a number of different products as a flavoring ingredient, licorice extract can provide help in treating stomach issues such as heartburn, but does have some noteworthy side effects that should be considered.
Licorice extract industry has low technology barrier and is dispersive relatively. Currently, there are many producing companies in the world licorice extract industry. The main market players are Magnasweet, ASEH, Zagros Licorice, Sepidan Osareh and FC Licorice. The global production of licorice extract will increase to 44595 MT in 2017 from 37213 MT in 2012 with average growth rate of 3.69%. Global licorice extract capacity utilization rate remained at around 75.24% in 2016.
Licorice extract has three types, which include pharmaceutical grade, food grade and feed grade. And each type has application industries relatively. With pharmaceutical value and sweetening effect of licorice extract, the downstream application industries will need more licorice extract products. So, licorice extract has a huge market potential in the future. Manufacturers engaged in the industry are trying to produce high purity and good performance licorice extract through improving technology.
The major raw materials for licorice extract are licorice and other auxiliary chemicals. Fluctuations in the price of the upstream product will impact on the production cost of licorice extract. The production cost of licorice extract is also an important factor which could impact the price of licorice extract. The licorice extract manufacturers are trying to reduce production cost by developing production method.
We tend to believe this industry is a rising industry, and the consumption increasing degree will show a smooth growth curve. And the price presents decreasing trend according to the economy development status and international competition. Also, there is fluctuation in gross margin.
Over the next five years, LPILP Information projects that Licorice Extract will register a 0.4% CAGR in terms of revenue, reach US$ 850 million by 2023, from US$ 870 million in 2017.
This report studies the global market, especially in North America, Europe, AsiaPacific, South America, Middle East and Africa, focuses on the top 5 players in each region, with sales, price, revenue and market share from 2013 to 2018, the top players:
Magnasweet
ASEH
Zagros Licorice
Sepidan Osareh
FC Licorice
Norevo GmbH
Ransom Naturals
Maruzen Pharmaceuticals
MCFS
Aushadhi Herbal
Avestia Pharma
VPL Chemicals
Zelang
Changyue
Bokai
Market Segment by Regions, this report splits Global into several key Regions, with sales, revenue, market share of top players in these regions, from 2013 to 2018 forecast, like
North America United States, Canada and Mexico
AsiaPacific China, Japan, Southeast Asia, India and Korea
Europe Germany, UK, France, Italy and Russia etc.
South America Brazil, Chile, Peru and Argentina
Middle East and Africa Egypt, South Africa, Saudi Arabia
Split by Product Types, with sales, revenue, price, market share of each type, can be divided into
Pharmaceutical Grade
Food Grade
Feed Grade
Split by applications, this report focuses on sales, market share and growth rate in each application, can be divided into
Pharmaceutical Industry
Food Industry
Cosmetic Industry
Others