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

Thailand Licorice Extract Market Synopsis

Licorice extract is derived from the root of the licorice plant and has a wide range of applications in the food, pharmaceutical, and cosmetics industries. In Thailand, the licorice extract market has experienced steady growth, primarily driven by the rising demand for natural sweeteners and flavorings in the food and beverage sector. The extract is also valued for its potential health benefits, including its use in traditional Thai medicine. The market is characterized by the presence of both domestic and international players offering licorice extract products. Regulatory support and consumer preferences for natural ingredients further contribute to the market`s growth.

Drivers of the Market

The Thailand licorice extract market is flourishing due to its versatile applications across various industries, including food and beverages, pharmaceuticals, and cosmetics. Licorice extract is valued for its natural sweetness and flavor-enhancing properties, making it a sought-after ingredient in confectionery, beverages, and traditional herbal medicines. Moreover, the growing awareness of the potential health benefits associated with licorice, such as its anti-inflammatory and digestive properties, has driven its demand in the nutraceutical sector. The cosmetic industry also utilizes licorice extract for its skin-soothing and brightening attributes. The increasing focus on clean-label and natural products is further propelling the licorice extract market in Thailand.

Challenges of the Market

The Thailand licorice extract market confronts challenges related to the limited availability of licorice root, which is the primary source of licorice extract. Weather conditions, disease outbreaks, and supply chain disruptions can impact the availability of raw materials. Additionally, ensuring the standardization of glycyrrhizin content, the active compound in licorice extract, is crucial but challenging. Regulatory compliance, especially concerning glycyrrhizin levels, adds another layer of complexity to this market.

COVID-19 Impact on the Market

The Thailand licorice extract market faced challenges due to the COVID-19 pandemic. Supply chain disruptions and labor shortages impacted the production and distribution of licorice extract-based products. The closure of retail stores and reduced consumer spending on non-essential items affected sales in some segments. However, licorice extract`s potential health benefits and its use in traditional medicine practices led to sustained demand in the herbal and pharmaceutical industries. Post-pandemic, the market is expected to recover, with a focus on expanding applications beyond traditional uses and exploring new product formulations.

Key Players in the Market

In the licorice extract sector, companies such as Mafco Worldwide Corporation and Ransom Naturals Ltd. are prominent players. They offer licorice extracts for use in confectionery, pharmaceuticals, and traditional medicine.

Key Highlights of the Report:

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