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Global Licorice Extract Market Size to Hit $2.7 Billion by 2030, at 4.8% CAGR | By Food Industry Analysis



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New York, NY, Feb. 03, 2023 (GLOBE NEWSWIRE) — According to Zion Market Research has published a new research report titled “Licorice Extract Market By Type (Food Grade, Feed Grade, And Pharmaceutical Grade), By Form (Liquid, Block, And Powder), By Application (Food & Beverages, Tobacco Products, Cosmetics & Personal Care, Pharmaceuticals, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Licorice Extract Market size & share in terms of revenue was valued at USD 1.8 Billion in 2021 and it is expected to surpass around USD 2.7 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.8% during the forecast period 2022 to 2030.”

What is Licorice Extract? How big is the Licorice Extract Industry?

Licorice extract is a natural ingredient that is widely used in various industries, including food and beverage, personal care, and pharmaceuticals. Here are some important points to consider regarding the licorice extract market:

Growing demand for natural ingredients: There is an increasing trend towards using natural ingredients, including licorice extract, in food, beverages, and personal care products due to consumer concerns about the safety of artificial ingredients.

Wide range of applications: Licorice extract has a variety of uses, including as a flavor enhancer, a sweetener, and a natural remedy for various ailments. Its versatility is driving growth in the market.

Strong demand in Asia: Asia is a major market for licorice extract, particularly in countries such as China and India, due to their large populations and growing awareness of the health benefits of this ingredient.

Regulatory challenges: The production and sale of licorice extract is regulated by various governments and international organizations, which can pose challenges for manufacturers and limit the growth of the market.

Growing competition: The licorice extract market is highly competitive, with a large number of players operating in the industry. This intense competition can result in price pressure and affect the profitability of market participants.

Licorice Extract Report Coverage & Overview:

Licorice extracts, which are made from licorice roots and are available in powdered or liquid form, are utilized in pharmaceutical products. Licorice roots (Glycyrrhiza glabra), a plant indigenous to the Mediterranean region, are boiled to create the extract. It is utilized as a sweetener and flavoring agent in addition to herbal medications. The extract contains anti-viral, anti-inflammatory, and detoxifying effects. As the extract is about 50 times sweeter than sugar, it is commonly employed in the food business.

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Global Licorice Extract Market: Growth Dynamics

One of the main elements fostering a positive outlook for the global licorice extract market is the significant increase in the food and beverage sector. In addition to being a common food additive or natural sweetener in sweet custard, chewing gum, and cake mixes, licorice extract can also be added to a meat rub to improve flavor. Additionally, the pharmaceutical industry’s rising product demand is encouraging market expansion. Licorice extract is frequently used in the production of medications for skin infections, asthma, bronchitis, toothaches, dyspepsia, and fever. Additionally, the licorice extract industry is growing as a result of consumers’ increasing preferences for organic products, particularly among millennials who are becoming more health conscious.

By this, the market growth is being positively impacted by the product’s broad use as a de-bittering agent in the tobacco business. Other factors, such as consumers’ increasing purchasing power and the product’s extensive use in the cosmetics industry as a natural skin brightener, are predicted to propel the market toward expansion.

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Report Scope

Report Attribute Details
Market Size in 2021 USD 1.8 billion
Projected Market Size in 2030 USD 2.7 billion
CAGR Growth Rate 4.8% CAGR
Base Year 2021
Forecast Years 2022-2030
Key Market Players NOREVO, FC Liquorice,, Zagros Liquorice co., VPL Chemicals, MAFCO Worldwide LLC, RANSOM NATURALS LTD, Aushadhi Herbal, Aseh Co., Green Wave Ingredients Inc., Sanat Products LTD., Maruzen Pharmaceutical Co., Ltd., Alfarid Corporation Limited, Avestia Pharma, Nutra Green Biotechnology Co.,Ltd., Mafco Worldwide LLC, Mitsubishi Corporation Life Sciences Limited., HYUNDAI BIOLAND among others.
Key Segment By Type, By Form, By Application, And By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

The licorice extract market offers several opportunities for growth and expansion, including:

Increasing demand for natural ingredients: As consumers become more health-conscious, there is a growing demand for natural ingredients, including licorice extract, in food, beverages, and personal care products.

Rising popularity of functional foods: Licorice extract is increasingly being used as a functional ingredient in functional foods and dietary supplements due to its health benefits, such as anti-inflammatory and antioxidant properties.

Growing demand in the pharmaceutical industry: Licorice extract has a range of medicinal properties and is widely used in the pharmaceutical industry to treat various ailments, including digestive disorders and skin problems, driving growth in this sector.

Expansion in developing countries: The growing awareness of the health benefits of licorice extract in developing countries, such as India and China, is expected to drive the demand for licorice extract in these regions.

Innovations in product development: Manufacturers are focusing on developing new and innovative products with licorice extract as an ingredient, which is expected to drive market growth.

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Licorice Extract Market: Segmentation Analysis

The global licorice extract market is segmented based on the type, form, application, and region.

Based on the type, the market is segmented into food grade, feed grade, and pharmaceutical grade. The food grade segment is expected to grow at the highest CAGR during the forecast period. Several confections, including candies, jellies, chocolates, sodas, and others, contain food-grade licorice extract. It is completely safe to consume and presents no risk to the body. The appeal of licorice extract-based candies is enjoyed by many countries, including Europe and America. The extract is also an ingredient in the popular root beer in the United States. Organic tea contains licorice extract, which enhances the flavor.

Based on the application, the market is categorized into food & beverages, tobacco products, cosmetics & personal care, pharmaceuticals and others. The pharmaceutical segment is expected to hold a significant market share during the forecast period. The use of licorice plant extract in modern drugs and medications is also widespread. In the form of pills or syrup, it is frequently used as a drug to treat conditions like acid reflux, heartburn, indigestion, and others. Thus, the pharmaceutical segment holds a significant market share over the forecast period.

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The global Licorice Extract market is segmented as follows:

By Type

  • Food Grade
  • Feed Grade
  • Pharmaceutical Grade

By Form

  • Liquid
  • Block
  • Powder

By Application

  • Food & Beverages
  • Tobacco Products
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Others

Browse the full Licorice Extract Market By Type (Food Grade, Feed Grade, And Pharmaceutical Grade), By Form (Liquid, Block, And Powder), By Application (Food & Beverages, Tobacco Products, Cosmetics & Personal Care, Pharmaceuticals, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030 Report at

Competitive Landscape

Some of the main competitors dominating the global Licorice Extract market include – 

  • FC Liquorice
  • Zagros Liquorice co.
  • VPL Chemicals
  • MAFCO Worldwide LLC
  • Aushadhi Herbal
  • Aseh Co.
  • Green Wave Ingredients Inc.
  • Sanat Products LTD.
  • Maruzen Pharmaceutical Co. Ltd.
  • Alfarid Corporation Limited
  • Avestia Pharma
  • Nutra Green Biotechnology Co. Ltd.
  • Mafco Worldwide LLC
  • Mitsubishi Corporation Life Sciences Limited.

Key Insights from Primary Research:

  • According to the analysis shared by our research forecaster, the Licorice Extract market is likely to expand at a CAGR of around 4.8% during the forecast period (2022-2030).                                            
  • In terms of revenue, the Licorice Extract market size was valued at around US$ 1.8 Billion in 2021 and is projected to reach US$ 2.7 billion by 2030.
  • The main aspect driving market expansion is customers’ growing preference for goods created with natural ingredients, particularly in developing nations.
  • Based on the type, the pharmaceutical grade segment accounted for the largest revenue share in 2021.
  • Based on the form, the powder segment accounted for the largest market share in 2021 and is expected to continue this pattern during the forecast period.
  • Based on region, the Asia Pacific is expected to dominate the market during the forecast period.

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Key questions answered in this report:

  • What is the market size and growth rate forecast for Licorice Extract industry?
  • What are the main driving factors propelling the Licorice Extract Market forward?
  • What are the leading companies in the Licorice Extract Industry?
  • What segments does the Licorice Extract Market cover?
  • How can I receive a free copy of the Licorice Extract Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2022−2030
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Type, By Form, By Application, And By Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The market for licorice extracts worldwide is dominated by Asia Pacific. The pharmaceutical industry’s rising demand is too responsible for this. Licorice extracts are commonly used in China to treat ulcers and to improve the immune system by raising interferon levels naturally. In China, it is also referred to as “The Great Detoxifier.” It is applied to the management of chronic hepatitis B in Japan. Licorice extracts are becoming more popular for use in food foams. Licorice extracts are becoming more and more important in food foams because of their ability to foam. The final product’s quality and shelf life are improved by this extract. As a result, these extracts are frequently employed as foaming agents in the beverage sector.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Recent Developments

In December 2019, Merisant Company and MAFCO Worldwide LLC announced a formal business combination. Merisant and MAFCO are operating subsidiaries of Flavors Holdings Inc., which is controlled by MacAndrews & Forbes Incorporated affiliates. Act II will merge with the companies of Merisant, MAFCO, and certain of their subsidiaries, subject to the terms and circumstances contained in the Purchase and Sale agreement.

To know an additional revised 2022 list of market players, request a brochure of the report:

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Artificial Intelligence

Global Methane Hub Announces the Enteric Fermentation Research & Development Accelerator, a $200M Agricultural Methane Mitigation Funding Initiative




The Largest-Ever Globally Coordinated Funding Investment in Livestock Methane Mitigation Research Announced at the COP28 Business & Philanthropy Climate Forum
The public, private and philanthropic partnership includes Bezos Earth Fund, Quadrature Climate Fund, Gerstner Philanthropies, High Tide Foundation, Bill & Melinda Gates Foundation, The Zegar Family Foundation, Danone and more
DUBAI, UAE, Dec. 2, 2023 /PRNewswire/ — Today, at COP28, the Global Methane Hub (GMH) announced a more than $200 million funding initiative between public, private and philanthropic partners including the Bezos Earth Fund, Quadrature Climate Fund, Gerstner Philanthropies, High Tide Foundation, Bill & Melinda Gates Foundation, The Zegar Family Foundation, Danone, the Governments of Ireland, New Zealand and the United States, for research and development (R&D) technologies to meaningfully address and reduce methane emissions from livestock. 

The Enteric Fermentation R&D Accelerator, or Accelerator, is the largest-ever, globally coordinated investment of breakthrough research tackling livestock methane emissions. The Global Methane Hub announced the intention to establish the Accelerator at COP27 as an AIM for Climate Innovation Sprint. The Accelerator will unite funders, guided by a science oversight committee, to invest in a globally coordinated research plan. This strategy aims to address gaps in current research and enhance existing efforts. The strategy includes work on exploring new and alternate livestock feed additives, tools to breed low-methane livestock, immunological studies for a methane vaccine, understanding the organisms in the rumen and their functions, and lowering the costs of measurement, essential to generate evidence for regulatory approval and validation of mitigation technologies.
About 40% of the world’s methane emissions come from agriculture, and 70% of that is due to enteric fermentation. This process happens in cows’ digestive systems when sugars are broken down into methane and released through belching. Unfortunately, current research on enteric fermentation is not extensive or coordinated enough to provide efficient and transformative solutions to significantly benefit farmers.
This is the latest milestone to mark the impact GMH is having on global methane reduction efforts since its founding in December 2021.
“The Accelerator is a prime example of the role philanthropy can play in driving substantive climate action and strategically aligning the key players working to solve the most pressing issue of our time,” said Hayden Montgomery, Agriculture Program Director at the Global Methane Hub. “With this effort to synchronize and consolidate public-good research on enteric methane, we aim to make multiple solutions to reduce enteric methane available quickly and provide proof of the efficacy of livestock mitigation technologies.”
“We know that cattle are responsible for most agricultural methane emissions. Promising technological and scientific solutions exist, but for too long, monetary and regulatory barriers have slowed progress and prevented critical research,” said Andy Jarvis, Director of Future of Food at the Bezos Earth Fund. “The Global Methane Hub’s Enteric Methane R&D Accelerator stands to change all of this, unlocking the resources needed to discover and develop low-cost solutions that will dramatically reduce methane emissions from livestock by 2030.”
“Through the Accelerator, we are poised to make a significant impact in driving innovation towards solutions to reduce enteric methane globally,” said Richard Lawrence, director and co-founder of High Tide Foundation. “I would like to thank Danone for stepping up as the first corporation committed to the Accelerator and I encourage others to do the same.”
“As a dairy company, curbing methane emissions is the fastest and most impactful way to slow down global warming,” said Olivier Verdelet, Vice-President Agriculture Cycle at Danone. “To do so, collaboration will be instrumental as we seek for new solutions, speed and sizable impacts. We are eager to collaborate with the Global Methane Hub and other partners to accelerate and test scalable innovations in the field. We believe this will help us build a sustainable, future-fit dairy category that is at the core of our mission to bring health through food to as many people as possible.”
Agricultural methane is projected to increase 40% by 2050. We would have to reduce emissions by 50% in order to meet the accords of the Paris Agreement to keep the global temperature rise to a maximum of 1.5 degrees Celsius. Reducing methane emissions from all sectors, including agriculture, is the fastest way to mitigate climate change.
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Artificial Intelligence

Digital Printing for Tableware Market worth $452 million by 2029 – Exclusive Report by MarketsandMarkets™




CHICAGO, Dec. 1, 2023 /PRNewswire/ — The Digital Printing for Tableware market is projected to reach USD 452 million by 2029 from USD 326 million in 2024; it is expected to grow at a CAGR of 6.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. Heightened interest in sustainable printing practices, escalating needs within the foodservice sector, swift advancements in digital printing technology, and the accelerated prototyping and assessment of novel designs within the tableware industry are poised to propel the expansion of the Digital Printing for Tableware market.

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140 – Tables60 – Figures240 – Pages
Digital Printing for Tableware Market Report Scope:
Report Coverage
Market Revenue in 2024
$ 326 million
Estimated Value by 2029
$ 452 million
Growth Rate
Poised to grow at a CAGR of 6.8%
Market Size Available for
Forecast Period
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Application, Ink type and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Compatibility with limited materials
Key Market Opportunities
Increasing demand from the in-plant market
Key Market Drivers
Rapid technological advancements in digital printers
This market exhibits a promising growth trajectory, buoyed by prospects like escalating demand from the in-plant market, substantial investment in digital printing-centric research and development endeavors, and the consequent decrease in per-unit printing costs facilitated by digital printers.
The Ceramic and porcelain application segment is expected to hold the largest market share of the digital printing for tableware market during the forecast period.
In 2023, the Ceramic and porcelain segment held the largest market share, and this pattern is expected to persist in the forecast period. Cutting edge ceramic digital printing technology for the tableware industry is expected to revolutionize the tableware industry during the forecast period. While digital printing for porcelain tableware combines precision and versatility allowing intricate designs to enable growth of the market. Digital printing for ceramic and porcelain tableware products involves the use of advanced printing technology to apply intricate and high-quality designs directly onto ceramic and porcelain surfaces. This modern printing method has become increasingly popular in the tableware industry due to its ability to offer customization, detailed graphics, and efficient production processes.
The UV Ink segment is expected to hold the largest market share of the digital printing for tableware market during the forecast period.
The use of UV ink in digital printing for the tableware industry is driven by its unique properties and advantages that cater to the specific requirements of decorating and customizing various tableware items, such as ceramics and porcelain. It offers rapid curing, color vibrancy, versatility in design, customization capabilities, durability, efficiency in production, and reduction in waste. Because of such advantages over other inks like ceramic ink, and solvent based ink, the UV ink type is expected to hold the largest market share.
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The North American region is expected to hold the largest market share during the forecast period.
During the forecast period, North America region is poised to experience the most significant growth in the digital printing for tableware market. The surge in consumer appetite for personalized tableware due to digital printing capabilities to deliver unique designs is expected to drive the market growth in the North American region. Also, presence of major companies such as Electronics for Imaging, Inc., Inkcups Now, Boston Industrial Solutions, Inc., and INX International Ink Co., in the North American region enables research and development activities in digital printing technologies benefitting the tableware industry owing to increase in the demand for customization of tableware products across the region.
Key Players Market
SACMI (Italy), Electronics for Imaging, Inc. (US), Inkcups Now (US), Mimaki Engineering Co., ltd. (Japan), Boston Industrial Solutions, Inc. (US), PROJECTA ENGINEERING S.R.L. (Italy), Engineered Printing Solutions (US), INX International Ink Co. (US), KERAjet (Spain), and Dip-Tech Digital Printing Technologies Ltd. (Israel) are key players in the digital printing for tableware companies.
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Digital Textile Printing Market by Printing Process (Roll to Roll, DTG), Ink Type (Sublimation, Pigment, Reactive, Acid), Application (Textile & Decor, Industrial, Soft Signage, Direct to Garment), and Geography – Global Forecast to 2023
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Artificial Intelligence

Syntax Unveils Expanded CxLink Backup Solution at AWS re:Invent 2023




Leading global solutions provider showcases new product support for Oracle cloud backup and recovery operations and achieves AWS Level 1 MSSP Competency
MONTREAL, Dec. 1, 2023 /PRNewswire/ — Syntax Systems, a leading global technology solutions and services provider for cloud application implementation and management, announced Syntax CxLink Backup solution for Oracle databases at AWS re:Invent 2023. This is a strategic enhancement to its suite of solutions that now supports the Oracle Recovery Manager (RMAN). CxLink Backup addresses a critical need for enterprise customers running Oracle databases, including SAP customers, as Oracle Database underpins more than 60% of SAP ERP Central Component customer implementations and RMAN integration options are limited.

Enterprise teams managing multiple clouds and stores of data, each with their own routine for proper storage, now have access to a cutting-edge tool to simplify backup and recovery processes as well as disaster recovery strategies. With CxLink Backup, customers now have access to several impactful functions that Oracle Recovery Manager fulfills:
Spares users the complexity of managing backup file details because it’s a module that streamlines and automates backup and recovery.Supports various backup types like full, incremental, differential, and image copies.Enhances backup efficiency and minimizes size with features like compression, parallel processing, and multisection.Ensures data security and reliability through validation, encryption, and cataloging of backups, as well as the ability to rectify corruption or errors.Offers flexible data restoration, including options like flashback, point-in-time recovery, and incomplete recovery, which allows recovery to any specific moment.”In today’s fast-paced digital world, backups are critical for enterprise applications,” said Ricardo Casanovas Ortega, VP of Product Innovation at Syntax. “Many enterprise teams are managing these processes from disparate sources and tools. Our latest features for CxLink Backup, unify and automate recovery processes, giving users a powerful tool that enhances reliability while minimizing complexity.”
In addition to revealing new capabilities in its CxLink solution, Syntax also announced its achievement of the Amazon Web Services (AWS) Level 1 Managed Security Service Provider (MSSP) Competency and renewed its status in the AWS Managed Service Provider (MSP) Partner Program. These designations recognize and validate leading AWS Partner Network (APN) members that provide full lifecycle solutions to customers and who have met AWS’s requirements for a baseline of managed security services to protect and monitor essential AWS resources 24/7, known as Level 1 Managed Security Services.
“Syntax is very proud to now be part of the elite AWS Partners who have achieved the AWS Level 1 MSSP Competency,” said Christian Primeau, Global CEO of Syntax. “Our strategy is 3-pronged: operate-to-protect, monitor-to-respond and built-to-recover. We are focused on ensuring the integrity of applications running on AWS and the data they store and process. Achieving this AWS Competency designation is recognition of the work the Syntax team delivers and our growing relationship with AWS, which adds value across our entire portfolio.”
The Syntax portfolio offers a wide range of AWS solutions as an AWS Premier Tier Services Partner. Syntax previously achieved the AWS SAP Competency, AWS Oracle Competency, and AWS Migration Competency, and AWS MSP Partner designations and is a member of the AWS Well-Architected Partner Program.
About Syntax Syntax provides comprehensive technology solutions and trusted professional, advisory, and application management services to power businesses’ mission-critical applications in the cloud. With 50 years of experience and 800+ customers around the world, Syntax has deep expertise in implementing and managing multi-ERP deployments in secure private, public, hybrid, or multi-cloud environments. Syntax partners with SAP, Oracle, JD Edwards, AWS, Microsoft, and other global technology leaders to ensure customers’ applications are seamless, secure, and at the forefront of enterprise technology innovation. Learn more about Syntax at
Contact:Walker Sands for [email protected]
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