With these trends gaining traction, a report published by Future Market Insights (FMI) states that the global licorice root market is expected to exhibit a CAGR of 5.1% from 2018 to 2028. In 2017, the global licorice root market was worth US$ 669.4 Mn and is expected to rise to a valuation of US$ 1,159.8 Mn by the end of 2028.

The food and beverage industry 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 food and beverage industry, 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.

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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.

In Europe, notable developments that the food and beverage industry 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.

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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)

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Table Of Content

1. Executive Summary

2. Market Introduction

3. Licorice Root Market Background

4. Global Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

5. Global Supply/Demand Analysis, By Region

6. Global Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028, by Product Form

7. Global Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028, by End Use

8. Global Licorice Root Market Analysis and Forecast, By Region

9. North America Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

Market analysis and forecast in U.S. and Canada

10. Latin America Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

11. Western Europe Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

12. Eastern Europe Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

13. APEJ Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

14. Japan Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

15. Middle East & Africa Licorice Root Market Analysis 2013–2017 and Forecast 2018–2028

16. Licorice Root Market Industry Structure

17. Competition Analysis