Philippines Licorice Extract Market (2025-2031) Outlook | Companies, Value, Size, Share, Revenue, Growth, Forecast, Industry, Trends & Analysis

philippines licorice extract market Synopsis

The Philippines licorice extract market has witnessed steady growth in recent years. With its versatile applications in the food, pharmaceutical, and cosmetics industries, licorice extract has gained popularity among consumers and manufacturers alike. The demand for natural and plant-based ingredients has further fueled the market`s expansion. Licorice extract`s potential health benefits and use as a flavoring and sweetening agent have contributed to its increasing incorporation in various products. However, challenges related to sourcing, sustainability, and regulatory compliance need to be addressed for sustainable market growth.

Drivers of the Market

The licorice extract market in the Philippines is driven by the use of licorice root extracts in both traditional medicine and the food industry. The potential health benefits of licorice, such as its anti-inflammatory and digestive properties, contribute to its demand in herbal remedies and supplements. In the food industry, licorice extract is used for flavoring and its natural sweetness, aligning with the trend of reducing added sugars.

Challenges of the Market

The Philippines licorice extract market is challenged by regulatory considerations and potential variations in the active compounds of licorice root. Licorice extract is used for its flavor and potential health benefits. However, the presence of glycyrrhizin, a naturally occurring compound in licorice, raises concerns about its effects on blood pressure and health. Market players must address regulatory restrictions on glycyrrhizin content while ensuring consistent quality and standardized extraction processes.

COVID-19 Impact on the Market

The Philippines licorice extract market experienced a mix of challenges and opportunities during the pandemic. Licorice extract is used in various food and beverage products as a flavoring and natural sweetener. The closure of food establishments and reduced consumer spending initially affected the market. However, the perceived health benefits of licorice and the trend towards functional foods contributed to a recovery in demand. Additionally, the focus on natural ingredients and immunity-boosting products created new opportunities for licorice extract in the market.

Key Players in the Market

Licorice extract is often used in the food and beverage, pharmaceutical, and cosmetics industries. Key players in the licorice extract market globally include Naturex (now part of Givaudan), MAFCO Worldwide LLC, Zagros Licorice Co., and Aushadhi Herbal.

Key Highlights of the Report:

• Philippines Licorice Extract Market Outlook
• Market Size of Philippines Licorice Extract Market, 2024
• Forecast of Philippines Licorice Extract Market, 2031
• Historical Data and Forecast of Philippines Licorice Extract Revenues & Volume for the Period 2021-2031
• Philippines Licorice Extract Market Trend Evolution
• Philippines Licorice Extract Market Drivers and Challenges
• Philippines Licorice Extract Price Trends
• Philippines Licorice Extract Porter's Five Forces
• Philippines Licorice Extract Industry Life Cycle
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Product Type for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Food Grade for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Feed Grade for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Pharmaceutical Grade for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Form for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Powder for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Liquid for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Block for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Application for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Food & Beverages for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Pharmaceutical for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Tobacco for the Period 2021-2031
• Historical Data and Forecast of Philippines Licorice Extract Market Revenues & Volume By Others for the Period 2021-2031
• Philippines Licorice Extract Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Form
• Market Opportunity Assessment By Application
• Philippines Licorice Extract Top Companies Market Share
• Philippines Licorice Extract Competitive Benchmarking By Technical and Operational Parameters
• Philippines Licorice Extract Company Profiles
• Philippines Licorice Extract Key Strategic Recommendations