Market overview:

Licorice Extract Market has been valued $ 1,872.9million in the year 2019 and it is estimated to reach $ 3,578.6 million by the year 2026, with a CAGR of 6.8 % from 2021 to 2026. Licorice Extract is most commonly known as an herbal extract which is derived from the root of the plant Glycyrrhiza glabra with the potential anti-inflammatory, antioxidant, and also antineoplastic activities. Licorice root extract it mostly contains glycoside glycyrrhizinic acid and numerous flavonoids; these are the main factors that have considerably increased the demand for the Licorice Extract in the market, thereby driving the hug growth of the Licorice Extract market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for the Licorice Extract in the market is mainly due to the increase in the health consciousness among consumers and the prevalence of diseases, such as diabetes, gut related issues, Medicinal properties of the root have increased its demand in the pharmaceutical sector, rising in the demand for the licorice root as a sweetener from candy and beverage manufacturing, which acts as a major factor driving growth of the licorice extract market ; these are the main factors that have considerably increased the demand for the Licorice Extract in the market, thereby driving the hug growth of the Licorice Extract market in the upcoming years

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https://www.marketdataforecast.com/market-reports/licorice-extract-market

Report is segmented as:

Licorice Extract Market is segmented on the basis of by application ; on the basis of by product type ; on the basis of by form :

Licorice Extract Market is segmented on the basis of by application into Pharmaceutical, Food & Beverage, Tobacco, and Others
Licorice Extract Market is segmented on the basis of by product type into Feed grade, Food grade, and Pharmaceutical grade
Licorice Extract Market is segmented on the basis of by form into Powder, Liquid and Block
Geographical Segmentation:

Licorice Extract Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Licorice Extract is due to the Growing demand for natural and organic products are the main factors that have considerably increased the demand for the Licorice Extract in the North America region , followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Licorice Extract Market

Impact of COVID-19 on Market

Covid -19 pandemic has affected every industry, and the long-term consequences are projected to influence the Licorice Extract boom for the duration of the forecast period. Covid-19 pandemic has impacted large on the income of Licorice Extract market. COVID-19 has adversely affected the Licorice Extract market. The restrictions and lockdown imposed by means of the authorities in quite a few international locations has gradual down the market and reduce the Licorice Extract. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Licorice Extract market growth.

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