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Licorice Root Market Application, Innovations, Geography and Global Forecast 2028

The Licorice Root Market in North America is colossal and comprises and number of players in largely fragmented and multi-tiered supply chains. The industry is stringently regulated and players often have to adapt to a landscape that changes quite frequently. The primary demand drivers in North America are witnessing fast-paced evolution, as dietary habits receive emphasis, especially among consumers who scour every label to read the ingredients. Although mergers and acquisitions have been a staple in the Licorice Root Market, uncertainties in political climate in Europe and America lead to a slowdown in 2016. As there is more clarity on the U.S. Presidential election and Brexit, the pace of mergers and acquisitions is likely to pick up.

The evolving tastes and preferences of consumers are not lost on manufacturers, as offerings have been broadened to accommodate organic and natural food products. Many established players are focusing in acquiring smaller companies which have the expertise and reputation of being pros in specific organic and natural domains. These smaller companies have deep brad loyalty, and owing to the small scale of production, it is much easier for them to come up with innovative products. These factors, combined with increasing emphasis on organic and natural, are likely to make smaller companies attractive targets for mergers and acquisitions.

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In Europe, notable developments that the Licorice Root Market needs to lookout for are stricter monitoring of unfair trade practices (UTPs) by the European Commission (EC). Many food and beverage manufacturers are currently assessing the risk to business once Brexit comes into effect. As the timing and full impact of Brexit is still uncertain, food and beverage companies are focusing on taking preventive action to secure their business interests.

List of factors tracked in the Licorice Root Market Report

In the food ingredients sub-domain, the following factors have been tracked.

  • Food ingredients consumption by different markets
  • Food ingredients produced by key manufactures
  • Allied market growth
  • Utilization of ingredient by volume in food products
  • Key use area (eg. Bakery, beverages, dairy, baby food etc.)
  • Parent market growth and share for allied industry
  • Level of usage
  • Key manufacturers
  • Forms available (Form of ingredients)
  • FOB and CIF pricing Final product- Consumption pattern and preferences
  • Demand for organic, natural and conventional

Research Methodology

FMI utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any.

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In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.

Data Collection

FMI collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.

Data Validation

In this phase, FMI validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.

Data Analysis and Projection

Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.

For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.

Standard Report Structure

  • Executive Summary
  • Market Definition
  • Macro-economic analysis
  • Parent Market Analysis
  • Market Overview
  • Forecast Factors
  • Segmental Analysis and Forecast
  • Regional Analysis
  • Competition Analysis

Market Taxonomy

The global licorice market has been segmented into:

By Product Form

  • Roots
  • Extracts
    • Blocks
    • Powder
    • Paste
    • Others

By End Use

  • Food & Beverage Industry
  • Tobacco Industry
  • Pharmaceutical Industry
  • Cosmetic Industry
  • Dietary Supplements

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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