Impact of Covid-19 on Licorice Extract Market: Trends, Competitive Analysis and Growth Factors

According to a new study by TMR, the sales of licorice extract are expected to reach ~US$ - 1.9 Bn in 2019, and record a Y-o-Y growth of ~4% during the forecast period of 2019 to 2029. Growth of the licorice extract market remains driven by a slew of factors, which range from rising demand for clean label products and changing regulations in the food and beverage industry, to increasing awareness among consumers.

Licorice is an evergreen herb, and is predominantly cultivated in West Asia, Greece, and Turkey. It has been used as an aromatic agent since ancient times. Licorice was also used as an expectorant. Licorice includes the glycyrrhizine compound. The unpeeled dried roots and the subterranean stem (rhizome) are the medicinal components of the plant.

Licorice extract is fifty times sweeter than sugar. Too much glycyrrhizin glycoside can increase the blood pressure of an individual. Licorice extract has been historically used for GI complaints. Licorice is mainly used in the candy and tobacco sectors as a flavoring agent, and to some extent in the pharmaceutical and beverage sectors. The chemical compounds discovered in licorice extract were explored for a variety of uses, including cancer therapy and antiviral activity.

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Preferential Inclination towards Non-modified Convenience Ingredients

Increasing health and wellness issues have changed the lifestyles and practices of consumers. They have also converted their preferences for food. The demand for organic products and ingredients has risen significantly in recent years, due to this change. As customers move to clean label products, the demand for licorice extract is also on the rise. Those certified by regulatory bodies are the more trusted licorice extract products available on the market. Licorice extracts available in the market are mostly certified non-GMO, as consumers prefer non-modified ingredients in their products. Consumers are demanding transparency about the products that they consume, and want to know the sources of the various ingredients in their food products

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Nutritional Thrust through Innovative Ingredients Driving Global Demand

Consumer preferences are always changing over time, and demand changes with ever-changing preferences. The inability to obtain products that fulfill these demands leads to consumers switching to other brands. Thus, manufacturers feel the urge to innovate their licorice extract products accordingly. This has led to manufacturers stipulating high capital to set up R&D facilities that could cater to these changing demands. Also, the competition between licorice extract manufacturers is very intense, and innovation is the key to stand out in this market space. Licorice extract manufacturers are trying to outperform their competitors in terms of sales and geographical presence. As such, if manufacturers are unable to provide innovative and high-quality products, the sales of the company would get affected.

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Global Licorice Extract Market: Competitive Landscape

Some of the key players in the global licorice extract market are Norevo GmbH, F&C Licorice Ltd., Mafco Worldwide LLC, Zagros Licorice Co., VPL Chemicals PVT Ltd., SepidanOsareh Co., ASEH Licorice MFG & Exp. Co., Maruzen Pharmaceuticals Co. Ltd., Zelang Group, and Ransom Naturals Ltd., and others.

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Tunnel Boring Machine Market: Applications, Revenue, Growth and Trends

Tunnel boring machines are gigantic special-purpose machines, particularly used in building tunnels for roads, railways, and pipelines. These machines are long with circular cross-sections and help in boring round holes through any rock. Tunnel boring machines are intricate assemblies of several systems working in conjunction with each other. Diameter of tunnel boring machines ranges from 1 meter to 20 meters. These machines can cut clean through rocks, sometimes along with creating concrete shields around the bored tunnels. The tunnel boring machine market is largely driven by the increase in spending on road and railway infrastructure. Countries such as China, Japan, Italy, South Korea, Norway, and Germany have vast tunnel networks. The key reason is to connect major cities within the country, sometimes even international, with minimum commute time. This largely optimizes the transportation costs and connects cities to boost commerce. The other method for building tunnels is...

GLOBAL WOOD COATINGS MARKET TO TOUCH VALUATION OF US$17.595 BN BY 2025 END

The global wood coatings market features a highly competitive landscape owing to the presence of a plethora of companies competing against one another, notes Transparency Market Research (TMR). Top players in the wood coatings market increasingly resort to forward integration strategies to gain substantial competitive benefits, which may help them to retain their stronghold over the assessment period. Several players are also focusing on product differentiations to attract more consumers and consolidate their positions in various regions. This is especially the trend among small- and medium-scale manufacturers who find this a key strategy to gain a foothold in the wood coatings market. TMR finds that the wood coatings market is also fairly consolidated as the top four players held a combined share of nearly 60.0% in 2016. These companies are RPM International Inc., Akzo Novel N.V., PPG Industries Inc., and The Sherwin Williams Company. Of these, The Sherwin Willia...

ANTHOCYANIN CONSUMPTION LEVELS TO TAKE OFF IN DEVELOPING REGIONAL MARKET

TMR projects the global anthocyanin market to reach US$ 735.9 Mn by 2026. Over this period of 2018-2026, the anthocyanin market is forecast to report a CAGR of 4.6%. Among the key end use segments, the food and beverages industry is likely to lead the market in 2018. The trend is likely to remain unchanged throughout the course of the forecast period. Regionally, the North America anthocyanin market held the leading share in the global market in 2018. The global anthocyanin market exhibits the presence of several large companies. Besides this, domestic players enjoy a stronghold in regional pockets, which has rendered the market highly competitive. According to a new study by Transparency Market Research (TMR), Archer Daniels Midlands Co., Sensient Technologies Corp, Symrise A.G., and CHR Hansen A/S held nearly 50% of the global anthocyanin market in 2018, thereby registering their dominance. To sustain growth amidst the prevailing competition, the leading players...

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