Licorice Root Market Surge: Key Countries Driving Expansion

According to a recent research, Industry revenue for Licorice Root is expected to rise to $1110.6 million by 2035 from $462.0 million of 2024. China, India, Italy, Turkey and Iran are the top 5 markets and combinely holds substantial demand share. The revenue growth of market players in these countries is expected to range between 6.1% and 8.7% annually for period 2025 to 2035.

Industry transition including rising health consciousness and expansion of digital platforms, are transforming the supply chain of Licorice Root market. The growing worldwide shift towards adopting lifestyles has played a significant role in boosting the popularity of licorice root consumption. As more individuals lean towards plant based and natural products for their health benefits and medicinal properties licorice root has become a staple ingredient in health treatments. Its diverse applications across industries such as food and beverage, pharmaceuticals and cosmetics have experienced a rise in demand thanks to the prevailing focus, on health and well being trends. The licorice root market is currently experiencing a shift towards natural products rather than artificial ones that has notable effects, on consumption and production trends.

Potential Application Areas

Tobacco Industry: The tobacco industry also utilizes licorice root to add flavor and maintain moisture in tobacco products for an enjoyable smoking experience. Turkish licorice is often chosen for its sweetness and ability to retain moisture. Companies like Imperial Tobacco and British American Tobacco leverage the advantages of licorice, in their tobacco blends to stand out in the market.

Skin Care Industry: Licorice root is also used in the skincare sector.

Industry Leadership and Strategies

The Licorice Root market is characterized by intense competition, with a number of leading players such as Nature's Way, Starwest Botanicals, Licorice International, Mountain Rose Herbs, Frontier Co-op, NOW Foods, Herb Pharm, Traditional Medicinals, Wiley's Finest, Herbal Terra LLC, Buddha's Herbs and TerraVita.. These players are pushing the boundaries of innovation & technological advancements and forging strategic partnerships to expand the existing reach of the market. Below table briefs about adopted market strategies by leading players.

Access detailed report insights here - https://datastringconsulting.com/industry-analysis/licorice-root-market-research-report

About DataString Consulting

DataString Consulting assist companies in strategy formulations & roadmap creation including TAM expansion, revenue diversification strategies and venturing into new markets; by offering in depth insights into developing trends and competitor landscapes as well as customer demographics. Our customized & direct strategies, filters industry noises into new opportunities; and reduces the effective connect time between products and its market niche.

DataString Consulting is a professional market research company which aims at providing all the market & business research solutions under one roof. Get the right insights for your goals with our unique approach to market research and precisely tailored solutions. We offer services in strategy consulting, comprehensive opportunity assessment across various sectors, and solution-oriented approaches to solve business problems.​