Sri Lanka Licorice Extract Market (2025-2031) Outlook | Forecast, Revenue, Trends, Analysis, Growth, Share, Industry, Companies, Size & Value
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: ETC389011 | Publication Date: Aug 2022 | Updated Date: Apr 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Sri Lanka Licorice Extract Market Size Growth Rate
The Sri Lanka Licorice Extract Market is projected to witness mixed growth rate patterns during 2025 to 2029. The growth rate begins at 6.83% in 2025, climbs to a high of 9.66% in 2027, and moderates to 4.78% by 2029.
Licorice Extract Market: Sri Lanka vs Top 5 Major Economies in 2027 (Asia)
The Licorice Extract market in Sri Lanka is projected to grow at a growing growth rate of 9.66% by 2027, highlighting the country's increasing focus on advanced technologies within the Asia region, where China holds the dominant position, followed closely by India, Japan, Australia and South Korea, shaping overall regional demand.
Sri Lanka Licorice Extract Market Overview
The licorice extract market in Sri Lanka is expanding due to its wide application in the food, beverage, and pharmaceutical industries. Licorice extract is valued for its sweetening properties and potential health benefits, such as soothing gastrointestinal issues and providing anti-inflammatory effects. The growing demand for natural and functional ingredients is driving this market.
Drivers of the market
The licorice extract market in Sri Lanka is growing due to the increasing use of natural and herbal ingredients in the food and beverage, cosmetics, and pharmaceutical industries. Licorice extract`s therapeutic properties, such as its use in traditional medicine and as a flavoring agent, are driving its demand. Moreover, the rising awareness of the health benefits associated with licorice extract consumption and application is contributing to market growth.
Challenges of the market
The licorice extract market in Sri Lanka deals with challenges such as inconsistent supply of raw licorice root due to agricultural variability and high import costs. There are also stringent quality control requirements for pharmaceutical and confectionery applications, which necessitate significant investment. Competition from synthetic alternatives and varying international regulations on licorice use further complicate market dynamics. Limited local expertise in advanced extraction technologies adds to the operational challenges.
Government Policy of the market
The Sri Lankan government promotes the licorice extract market through agricultural support and export incentives. Policies include providing high-quality seeds and technical assistance to farmers. The government also offers financial incentives for the establishment of processing facilities and helps producers meet international quality standards. Research and development initiatives are supported to improve extraction methods and enhance the quality of licorice extract.
Key Highlights of the Report:
- Sri Lanka Licorice Extract Market Outlook
- Market Size of Sri Lanka Licorice Extract Market, 2024
- Forecast of Sri Lanka Licorice Extract Market, 2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Revenues & Volume for the Period 2021-2031
- Sri Lanka Licorice Extract Market Trend Evolution
- Sri Lanka Licorice Extract Market Drivers and Challenges
- Sri Lanka Licorice Extract Price Trends
- Sri Lanka Licorice Extract Porter's Five Forces
- Sri Lanka Licorice Extract Industry Life Cycle
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Product Type for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Food Grade for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Feed Grade for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Pharmaceutical Grade for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Form for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Powder for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Liquid for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Block for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Application for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Food & Beverages for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Pharmaceutical for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Tobacco for the Period 2021-2031
- Historical Data and Forecast of Sri Lanka Licorice Extract Market Revenues & Volume By Others for the Period 2021-2031
- Sri Lanka Licorice Extract Import Export Trade Statistics
- Market Opportunity Assessment By Product Type
- Market Opportunity Assessment By Form
- Market Opportunity Assessment By Application
- Sri Lanka Licorice Extract Top Companies Market Share
- Sri Lanka Licorice Extract Competitive Benchmarking By Technical and Operational Parameters
- Sri Lanka Licorice Extract Company Profiles
- Sri Lanka Licorice Extract Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
6Wresearch actively monitors the Sri Lanka 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 Sri Lanka Licorice Extract Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
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