India Licorice Extract Market (2025-2031) Outlook | Trends, Value, Companies, Revenue, Share, Analysis, Size, Industry, Forecast & Growth
Market Forecast By Product Type (Food Grade, Feed Grade, Pharmaceutical Grade), By Form (Powder, Liquid, Block), By Application (Food & Beverages, Pharmaceutical, Tobacco, Others) And Competitive Landscape
| Product Code: ETC389004 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
India Licorice Extract Market Import Shipment Trend (2020-2024)
The India licorice extract market import shipments experienced a significant decline with a CAGR of -23.0% from 2020 to 2024. The growth rate between 2023 and 2024 further plummeted by -59.6%, indicating a sharp contraction in market activity. The market exhibited a consistent downward trend, showing a substantial slowdown in growth momentum.
India Licorice Extract Market Synopsis
The licorice extract market in India was estimated to be worth USD 75 million in 2018 and is expected to grow at a CAGR of 8.6% over the forecast period (2025-2031). The major drivers for the growth of this market are increasing demand from food & beverage industry, rising awareness about health benefits associated with licorice extract, availability of different variety of flavors and growing popularity among consumers.
Market Drivers of the market
The India licorice extract market is experiencing growth owing to the diverse applications of licorice in the food, pharmaceutical, and cosmetic industries. Licorice extract is used as a natural sweetener and flavor enhancer in various food products. Additionally, its medicinal properties, including anti-inflammatory and digestive benefits, have increased its use in herbal supplements and medicines. The beauty and personal care industry also utilizes licorice extract in skincare products due to its skin-soothing and brightening properties.
Challenges of the Market
Licorice extract is widely used in confectionery, pharmaceuticals, and beverages. The India licorice extract market has experienced growth, but it faces challenges related to the sustainability of licorice cultivation and the potential impact on the environment. Ensuring a stable and affordable supply of licorice roots remains a concern for manufacturers. Additionally, addressing the potential health concerns related to excessive licorice consumption requires careful product positioning and communication.
Covid-19 Impact on the Market
The licorice extract market in India has been witnessing moderate growth due to its applications in the food, pharmaceutical, and cosmetic industries. Licorice extract is known for its sweet flavor and various health benefits. The market faced challenges during the Covid-19 pandemic as disruptions in the supply chain and reduced economic activity impacted its demand from different sectors.
Key Players of the Market
The licorice extract market in India has witnessed substantial growth due to the various health benefits associated with licorice consumption. Key players in this market offer licorice extracts for use in food, beverages, and medicinal products. Notable players in the India licorice extract market are LicoriceIndia, SweetRoots Extracts, NaturalMeds, and Herbaceuticals.
Key Highlights of the Report:
- India Licorice Extract Market Outlook
- Market Size of India Licorice Extract Market, 2024
- Forecast of India Licorice Extract Market, 2031
- Historical Data and Forecast of India Licorice Extract Revenues & Volume for the Period 2021-2031
- India Licorice Extract Market Trend Evolution
- India Licorice Extract Market Drivers and Challenges
- India Licorice Extract Price Trends
- India Licorice Extract Porter's Five Forces
- India Licorice Extract Industry Life Cycle
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Product Type for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Food Grade for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Feed Grade for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Pharmaceutical Grade for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Form for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Powder for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Liquid for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Block for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Application for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Food & Beverages for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Pharmaceutical for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Tobacco for the Period 2021-2031
- Historical Data and Forecast of India Licorice Extract Market Revenues & Volume By Others for the Period 2021-2031
- India Licorice Extract Import Export Trade Statistics
- Market Opportunity Assessment By Product Type
- Market Opportunity Assessment By Form
- Market Opportunity Assessment By Application
- India Licorice Extract Top Companies Market Share
- India Licorice Extract Competitive Benchmarking By Technical and Operational Parameters
- India Licorice Extract Company Profiles
- India Licorice Extract Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
6Wresearch actively monitors the India Licorice Extract Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the India Licorice Extract Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
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