Nigeria Licorice Root Market (2025-2031) | Share, Segmentation, Companies, Forecast, Size & Revenue, Industry, Analysis, Value, Competitive Landscape, Trends, Growth, Outlook

Name: Nigeria Licorice Root Market (2025-2031) | Trends & Outlook
Creator: 6Wresearch
License: https://www.6wresearch.com/privacy-policy
Keywords: Licorice Root Market, Nigeria Licorice Root Market, Nigeria Licorice Root Market Revenues, Nigeria Licorice Root Market Share, Nigeria Licorice Root Market Size, Nigeria Licorice Root Market Outlook, Nigeria Licorice Root Market Report, Nigeria Licorice Root Market Competition, Nigeria Licorice Root Market Overview, Nigeria Licorice Root Market Trends, Nigeria Licorice Root Market Forecast

Market Forecast By Product Form (Roots, Extracts), By Product Type (Essential Oils, Liquid Malt Extract, Oleoresins, Herbs and Spices Dry Malt Extract, Malt Flour), By Function Type (Performance Enhancers, Palatability Enhancers), By Grade Type (Standard Malt, Caramelized Malt, Roasted Malt), By Raw Material Type (Maize, Barley, Wheat, Rice, Rye, Oat), By Ingredient Type (Lipids, Protein, Polysaccharide, Others), By End User (Food and Beverage Industry, Tobacco Industry, Pharmaceutical Industry, Cosmetic Industry, Dietary Supplement) And Competitive Landscape

Product Code: ETC8628139	Publication Date: Sep 2024	Updated Date: Nov 2025	Product Type: Market Research Report
Publisher: 6Wresearch	Author: Dhaval Chaurasia	No. of Pages: 75	No. of Figures: 35	No. of Tables: 20

Nigeria Licorice Root Market Top 5 Importing Countries and Market Competition (HHI) Analysis

Despite a decline in the growth rate for licorice root imports to Nigeria in 2024, the market remains highly concentrated, with top exporters including Vietnam, China, India, Mexico, and the UK. The negative compound annual growth rate (CAGR) from 2020 to 2024 indicates a significant decrease in demand, while the sharp drop in growth rate from 2023 to 2024 suggests a challenging environment for licorice root suppliers. It will be crucial for stakeholders in the licorice root industry to closely monitor market trends and adjust their strategies to navigate these challenging conditions in the Nigerian market.

Nigeria Licorice Root Market Top 5 Importing Countries and Market Competition (HHI) Analysis

Key Highlights of the Report:

Nigeria Licorice Root Market Outlook
Market Size of Nigeria Licorice Root Market, 2024
Forecast of Nigeria Licorice Root Market, 2031
Historical Data and Forecast of Nigeria Licorice Root Revenues & Volume for the Period 2021- 2031
Nigeria Licorice Root Market Trend Evolution
Nigeria Licorice Root Market Drivers and Challenges
Nigeria Licorice Root Price Trends
Nigeria Licorice Root Porter's Five Forces
Nigeria Licorice Root Industry Life Cycle
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Product Form for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Roots for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Extracts for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Product Type for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Essential Oils for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Liquid Malt Extract for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Oleoresins for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Herbs and Spices Dry Malt Extract for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Malt Flour for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Function Type for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Performance Enhancers for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Palatability Enhancers for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Grade Type for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Standard Malt for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Caramelized Malt for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Roasted Malt for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Raw Material Type for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Maize for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Barley for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Wheat for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Rice for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Rye for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Oat for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Ingredient Type for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Lipids for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Protein for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Polysaccharide for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Others for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By End User for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Food and Beverage Industry for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Tobacco Industry for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Pharmaceutical Industry for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Cosmetic Industry for the Period 2021- 2031
Historical Data and Forecast of Nigeria Licorice Root Market Revenues & Volume By Dietary Supplement for the Period 2021- 2031
Nigeria Licorice Root Import Export Trade Statistics
Market Opportunity Assessment By Product Form
Market Opportunity Assessment By Product Type
Market Opportunity Assessment By Function Type
Market Opportunity Assessment By Grade Type
Market Opportunity Assessment By Raw Material Type
Market Opportunity Assessment By Ingredient Type
Market Opportunity Assessment By End User
Nigeria Licorice Root Top Companies Market Share
Nigeria Licorice Root Competitive Benchmarking By Technical and Operational Parameters
Nigeria Licorice Root Company Profiles
Nigeria Licorice Root Key Strategic Recommendations

Frequently Asked Questions About the Market Study (FAQs):

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1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 Nigeria Licorice Root Market Overview

3.1 Nigeria Country Macro Economic Indicators

3.2 Nigeria Licorice Root Market Revenues & Volume, 2021 & 2031F

3.3 Nigeria Licorice Root Market - Industry Life Cycle

3.4 Nigeria Licorice Root Market - Porter's Five Forces

3.5 Nigeria Licorice Root Market Revenues & Volume Share, By Product Form, 2021 & 2031F

3.6 Nigeria Licorice Root Market Revenues & Volume Share, By Product Type, 2021 & 2031F

3.7 Nigeria Licorice Root Market Revenues & Volume Share, By Function Type, 2021 & 2031F

3.8 Nigeria Licorice Root Market Revenues & Volume Share, By Grade Type, 2021 & 2031F

3.9 Nigeria Licorice Root Market Revenues & Volume Share, By Raw Material Type, 2021 & 2031F

3.10 Nigeria Licorice Root Market Revenues & Volume Share, By Ingredient Type, 2021 & 2031F

3.11 Nigeria Licorice Root Market Revenues & Volume Share, By End User, 2021 & 2031F

4 Nigeria Licorice Root Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 Nigeria Licorice Root Market Trends

6 Nigeria Licorice Root Market, By Types

6.1 Nigeria Licorice Root Market, By Product Form

6.1.1 Overview and Analysis

6.1.2 Nigeria Licorice Root Market Revenues & Volume, By Product Form, 2021- 2031F

6.1.3 Nigeria Licorice Root Market Revenues & Volume, By Roots, 2021- 2031F

6.1.4 Nigeria Licorice Root Market Revenues & Volume, By Extracts, 2021- 2031F

6.2 Nigeria Licorice Root Market, By Product Type

6.2.1 Overview and Analysis

6.2.2 Nigeria Licorice Root Market Revenues & Volume, By Essential Oils, 2021- 2031F

6.2.3 Nigeria Licorice Root Market Revenues & Volume, By Liquid Malt Extract, 2021- 2031F

6.2.4 Nigeria Licorice Root Market Revenues & Volume, By Oleoresins, 2021- 2031F

6.2.5 Nigeria Licorice Root Market Revenues & Volume, By Herbs and Spices Dry Malt Extract, 2021- 2031F

6.2.6 Nigeria Licorice Root Market Revenues & Volume, By Malt Flour, 2021- 2031F

6.3 Nigeria Licorice Root Market, By Function Type

6.3.1 Overview and Analysis

6.3.2 Nigeria Licorice Root Market Revenues & Volume, By Performance Enhancers, 2021- 2031F

6.3.3 Nigeria Licorice Root Market Revenues & Volume, By Palatability Enhancers, 2021- 2031F

6.4 Nigeria Licorice Root Market, By Grade Type

6.4.1 Overview and Analysis

6.4.2 Nigeria Licorice Root Market Revenues & Volume, By Standard Malt, 2021- 2031F

6.4.3 Nigeria Licorice Root Market Revenues & Volume, By Caramelized Malt, 2021- 2031F

6.4.4 Nigeria Licorice Root Market Revenues & Volume, By Roasted Malt, 2021- 2031F

6.5 Nigeria Licorice Root Market, By Raw Material Type

6.5.1 Overview and Analysis

6.5.2 Nigeria Licorice Root Market Revenues & Volume, By Maize, 2021- 2031F

6.5.3 Nigeria Licorice Root Market Revenues & Volume, By Barley, 2021- 2031F

6.5.4 Nigeria Licorice Root Market Revenues & Volume, By Wheat, 2021- 2031F

6.5.5 Nigeria Licorice Root Market Revenues & Volume, By Rice, 2021- 2031F

6.5.6 Nigeria Licorice Root Market Revenues & Volume, By Rye, 2021- 2031F

6.5.7 Nigeria Licorice Root Market Revenues & Volume, By Oat, 2021- 2031F

6.6 Nigeria Licorice Root Market, By Ingredient Type

6.6.1 Overview and Analysis

6.6.2 Nigeria Licorice Root Market Revenues & Volume, By Lipids, 2021- 2031F

6.6.3 Nigeria Licorice Root Market Revenues & Volume, By Protein, 2021- 2031F

6.6.4 Nigeria Licorice Root Market Revenues & Volume, By Polysaccharide, 2021- 2031F

6.6.5 Nigeria Licorice Root Market Revenues & Volume, By Others, 2021- 2031F

6.7 Nigeria Licorice Root Market, By End User

6.7.1 Overview and Analysis

6.7.2 Nigeria Licorice Root Market Revenues & Volume, By Food and Beverage Industry, 2021- 2031F

6.7.3 Nigeria Licorice Root Market Revenues & Volume, By Tobacco Industry, 2021- 2031F

6.7.4 Nigeria Licorice Root Market Revenues & Volume, By Cosmetic Industry, 2021- 2031F

6.7.5 Nigeria Licorice Root Market Revenues & Volume, By Cosmetic Industry, 2021- 2031F

6.7.6 Nigeria Licorice Root Market Revenues & Volume, By Dietary Supplement, 2021- 2031F

7 Nigeria Licorice Root Market Import-Export Trade Statistics

7.1 Nigeria Licorice Root Market Export to Major Countries

7.2 Nigeria Licorice Root Market Imports from Major Countries

8 Nigeria Licorice Root Market Key Performance Indicators

9 Nigeria Licorice Root Market - Opportunity Assessment

9.1 Nigeria Licorice Root Market Opportunity Assessment, By Product Form, 2021 & 2031F

9.2 Nigeria Licorice Root Market Opportunity Assessment, By Product Type, 2021 & 2031F

9.3 Nigeria Licorice Root Market Opportunity Assessment, By Function Type, 2021 & 2031F

9.4 Nigeria Licorice Root Market Opportunity Assessment, By Grade Type, 2021 & 2031F

9.5 Nigeria Licorice Root Market Opportunity Assessment, By Raw Material Type, 2021 & 2031F

9.6 Nigeria Licorice Root Market Opportunity Assessment, By Ingredient Type, 2021 & 2031F

9.7 Nigeria Licorice Root Market Opportunity Assessment, By End User, 2021 & 2031F

10 Nigeria Licorice Root Market - Competitive Landscape

10.1 Nigeria Licorice Root Market Revenue Share, By Companies, 2024

10.2 Nigeria Licorice Root Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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Export potential assessment - trade Analytics for 2030

Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.

By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.

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