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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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(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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  • About 174+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

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.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/licorice-extract-market

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, Iranlicorice.com, 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.

Also Read Infographics: https://www.zionmarketresearch.com/content/uploadedimages/global-licorice-extract-market.png

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.

Get Infographics: https://www.zionmarketresearch.com/content/uploadedimages/global-licorice-extract-market.png

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 https://www.zionmarketresearch.com/report/licorice-extract-market

Competitive Landscape

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

  • NOREVO
  • FC Liquorice
  • Iranlicorice.com
  • 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

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.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/licorice-extract-market

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

Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/2035

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

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: https://www.zionmarketresearch.com/requestbrochure/licorice-extract-market

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XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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