Albany, New York, October 5, 2018: Licorice root is well-known as a significant component of traditional Chinese medicine, and the growing demand for Chinese medicine worldwide is expected to be a primary factor behind the strong growth of the licorice root market through 2028. In addition, licorice root also finds applications in the confectionary and tobacco industries as a flavoring and de-bittering agent respectively, which is also expected to strongly contribute towards market demand.
Revenues arising from the licorice root market are estimated to grow at a modest CAGR of around 5% through 2028.These insights have been extracted from the report titled “Licorice Root Market: Growing Use as a Sweetener in the Food and Beverage Industry to Provide a Plethora of Opportunities to Vendors” added recently to the vast repository of Market Research Reports Search Engine (MRRSE).
North America and Europe are expected to control a major share of the licorice root market owing to increasing preference for organic medications in these regions, and increasingly widespread use by pharmaceutical companies in their products.
Major market players are emphasizing on strategic collaboration with licorice root harvesters for maintaining stability in production along and keeping prices at a reasonable level. This is expected to give revenue growth opportunities through expansion of land spaces being used for licorice cultivation.
Licorice Root Market: Report Synopsis
This report provides a regional and global-level analysis & forecast on the licorice root market, in terms of value (US$ Mn), for the period of forecast 2018 to 2028. Essential aspects such as social, technological, political and economic influencers that play a role in impacting demand and the need for licorice root have been scrutinized in the report.
An extensive value chain analysis on the licorice root industry has been given in this report, and the researched intelligence has been effectively used for making the readers understand the competitive scenario among leaders and new market players and also the consumers. A market attractiveness analysis, where applications have been assessed on the basis of factors such as their market size, general attractiveness, competition matrix, and Y-O-Y growth rate, has also been included in the report.
Licorice Root Market: Research Methodology
Detailed discussions and extensive interviews have been carried out with various highly experienced industry experts and opinion leaders during the development of this report. Primary and secondary research methodologies have been used widely, which have aided a lot in offering relevant intelligence on the licorice root market. Primary research represents bulk of the research efforts, which has been further supported with an extensive secondary research.
Major companies and new entrants in the licorice root market have been reviewed, while data sources such as press releases, investor presentations, annual reports, and other related documents have used for comprehensive analysis on the market’s competitor landscape and also for better market understanding. The research approach employed here has been regarded as being one of the most reliable and efficient approaches to harness accurate information on the market data, by finding and making use of latent business opportunities, and gaining useful insights about the industry participants.
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