Product Code: ETC389021 | Publication Date: Aug 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Qatar Licorice Extract market currently, in 2023, has witnessed an HHI of 9489, Which has increased slightly as compared to the HHI of 6555 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The Qatar licorice extract market is experiencing notable growth, buoyed by its diverse applications in both food and pharmaceutical industries. Licorice extract, obtained from the roots of the licorice plant, is valued for its sweetening, flavoring, and medicinal properties. In the food industry, it is used in confectionery, bakery, and beverage products. Additionally, the growing recognition of licorice extract for its potential health benefits, including digestive and respiratory support, is driving its demand in the pharmaceutical sector. With a trend towards natural and functional ingredients, the market for licorice extract in Qatar is poised for continued expansion.
The licorice extract market in Qatar is witnessing significant growth, primarily fueled by its extensive applications in the food and beverage industry. Licorice extract is gaining popularity as a natural sweetener and flavoring agent, which is contributing to its rising demand in confectionery, beverages, and culinary products. Additionally, the increasing awareness of its health benefits, including its potential to aid digestion and support respiratory health, is driving its uptake in the pharmaceutical and wellness sectors. Moreover, the growing trend towards herbal and natural remedies is further propelling the demand for licorice extract in Qatar.
One of the primary challenges for the licorice extract market in Qatar is the sustainable sourcing of raw materials. Over-exploitation of licorice roots, which are primarily grown in regions with fragile ecosystems, can lead to environmental degradation and threaten the availability of this essential ingredient. Additionally, ensuring compliance with international regulations on glycyrrhizin content, a key active compound in licorice, requires stringent quality control measures.
The COVID-19 pandemic had a mixed impact on the Qatar licorice extract market. On one hand, the increased focus on health and wellness during the pandemic led to a surge in demand for natural ingredients, including licorice extract, which is known for its various health benefits. On the other hand, disruptions in the supply chain and production processes due to lockdowns and restrictions affected the market`s overall growth. As the situation stabilizes and consumer awareness regarding natural remedies continues to rise, the licorice extract market is expected to rebound and show steady growth.
The licorice extract market in Qatar is witnessing robust growth, driven by its applications in confectionery, pharmaceuticals, and the healthcare sector. Leading players such as Licorice Plus Qatar, Pharma Extracts Ltd., and HealthLink Industries have solidified their positions through a combination of product innovation and stringent quality control measures.