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

Vietnam Licorice Extract Market Synopsis

Licorice extract is utilized in the food and pharmaceutical industries for its sweetening and medicinal properties. The Vietnam licorice extract market has shown promise due to the increasing recognition of licorice`s health benefits. Vietnamese manufacturers have been exploring various applications for licorice extract, including herbal remedies and confectionery products.

Drivers of the Market

The Vietnam licorice extract market has grown due to its versatile applications in the food, pharmaceutical, and cosmetic industries. Licorice extract`s natural sweetness and flavor-enhancing properties have made it a popular ingredient in confectionery and herbal teas. Furthermore, its use in traditional medicine and herbal remedies has bolstered the pharmaceutical sector. The cosmetic industry also utilizes licorice extract for its skin-brightening and anti-inflammatory properties. The growing awareness of these benefits and the increasing demand for natural ingredients have driven the licorice extract market in Vietnam.

Challenges of the Market

The Vietnam licorice extract market confronts challenges such as sourcing quality licorice roots, which are not native to Vietnam. Importing these raw materials can be costly and can expose the market to currency fluctuations. Furthermore, ensuring the glycyrrhizin content in licorice extract within regulatory limits is essential but can be technically demanding. Competition from alternative sweeteners and flavoring agents in the food and pharmaceutical industries presents a constant challenge.

COVID-19 Impact on the Market

The Vietnam licorice extract market faced unique challenges during the COVID-19 pandemic. Licorice extract is used in various products, including confectionery, herbal remedies, and cosmetics. While the demand for some of these products remained stable or even increased, disruptions in the supply chain impacted licorice extract availability and pricing. Licorice supply was affected due to export restrictions in some countries and transportation difficulties. Manufacturers had to diversify their sourcing strategies and adapt to supply chain disruptions. However, the market exhibited resilience as consumers continued to seek licorice-based products for their purported health benefits. As the situation gradually normalizes, the Vietnam licorice extract market is expected to recover, driven by its versatile applications in different industries.

Key Players in the Market

Vietnam licorice extract market features players like Viet Phat Food Co., Ltd. and Vinh Phat Co., Ltd. These companies are engaged in the production and distribution of licorice extract and related products. Licorice extract is widely used in the food and beverage, pharmaceutical, and cosmetic industries. These market leaders are known for their commitment to quality and adherence to international standards, making them reliable suppliers in the licorice extract segment.

Key Highlights of the Report:

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