China Licorice Market Overview, 2029

The market for licorice in China is expanding significantly due to its wide range of uses across several sectors. China holds a significant position in the worldwide licorice industry, especially in the licorice extract sector. The pharmaceutical industry's growing usage of licorice due to its anti-inflammatory, antibacterial, and antioxidant qualities is fueling the market's expansion. Traditional Chinese medicine makes extensive use of licorice extracts to cure ulcers, boost immunity, and cleanse the body. Licorice extract is used as a natural sweetener and flavoring in the food and beverage sector. It is included in goods including chewing gum, baking mixes, and dessert custards. Tobacco companies use licorice extract as a de-bittering agent to enhance the flavor of their products. The market for licorice in China is anticipated to keep expanding because to its widespread application in the food and beverage, tobacco, and medicinal industries. This tendency is further supported by the move toward natural and organic products, which makes licorice a valued commodity across a range of industries. According to the research report "China Licorice Market Overview, 2029," published by Bonafide Research, the China Licorice market is expected to reach a market size of more than USD 300 Million by 2029. The Chinese market for licorice is expanding significantly due to a number of causes, such as rising demand for food and drink, cosmetics, and medicines. Because of licorice's medicinal qualities, the pharmaceutical industry makes up the majority of the Chinese licorice business. Because of its antibacterial, antiviral, and anti-inflammatory qualities, it is frequently utilized. Licorice is used as a natural sweetener and flavoring in the food and beverage industries. It is especially well-liked in confections and drinks like root beer and herbal teas. Because of its ability to soothe and brighten skin, licorice extract is also becoming more and more popular in the cosmetics sector. It is a component of sunscreen and hyperpigmentation treatment solutions. Powder is chosen since it is so simple to add to different recipes. Liquid licorice extract can be used in some applications that call for a liquid media because of its viscosity. Block licorice is utilized in conventional applications and some industrial usage when a solid form is helpful, albeit being less common than powder and liquid.

Fruit-flavored candies are the section that seems to be expanding in the Chinese licorice industry, which is divided into several tastes such as black licorice, fruit-flavored candies, anise, apples, and cinnamon. Consumer tastes for sweets have clearly shifted in favor of those with healthier and more natural components. Fruit tastes are popular among consumers who are health-conscious since they think they're better for you than regular sweets. Fruit-flavored sweets appeal to a wider audience since they come in a variety of tastes. This variety enables producers to reach a wider audience and cater to a range of customer tastes. Demand for confectionary items with distinctive and revitalizing tastes is rising. This desire is satisfied by fruit-flavored candies, which offer a range of flavors that differ from classic licorice flavors like anise or black licorice. The pharmaceutical industry makes extensive use of powdered licorice due to its therapeutic qualities, particularly in traditional Chinese medicine (TCM). In the food sector, chewing gum, candies, herbal drinks, and candies all employ powdered licorice as a flavoring ingredient. Its taste characteristic is sweet with a hint of bitterness. In line for to its anti-inflammatory and calming qualities, powdered licorice is often utilized in skincare and cosmetic products. Because of their concentrated form, which enables accurate dosage and incorporation into other formulations, liquid licorice extracts are frequently utilized in medicinal preparations. Liquid extracts are used to improve the flavor of beverages, syrups, and alcoholic beverages. Traditional medical practices in China still make use of block licorice, which is dried licorice root. There are times when block licorice is utilized in cooking, particularly in herbal soups and traditional Chinese cuisine. The growing inclination of consumers towards natural ingredients and herbal tastes in food items is propelling the continuous expansion of this market. As a natural sweetener in various health foods, licorice is utilized in drinks, candies, and desserts. China's market for licorice is still heavily influenced by the pharmaceutical industry. The medical benefits of licorice, which include anti-inflammatory, antiviral, and expectorant actions, have been recognized for a long time in traditional Chinese medicine (TCM). Relative stability exists in the tobacco licorice market. The tobacco business uses licorice to lessen smoke's harshness and enhance the flavor of cigarettes. The way that licorice improves the sensory elements of tobacco products is why this application is still used.

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Manmayi Raval

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Companies Mentioned: Mars Wrigley Confectionery, div. of Mars Inc., Ferrero Group, Haribo GmbH & Co. K.G., Perfetti Van Melle, Meiji Co. Ltd., Nestle SA, Hershey Co., Lotte Confectionery Co Ltd, Mondelez International, Lindt & Sprungli AG Considered in this report • Historical Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects Covered in the report: • Licorice Market Size By Value for the time period (2018-2029F) • Market Share by Type (Black Licorice, Fruit Flavoured Candy, Anise & Apples, Cinnamon) By Value • Market Share by Form (Powder, Liquid, Block) By Value • Market Share by Applications (Food & Beverages, Pharmaceuticals, Tobacco and Others) By Value

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By Type • Black Licorice • Fruit Flavoured Candy • Anise & Apples • Cinnamon By Form • Powder • Liquid • Block By Application • Food & Beverages • Pharmaceuticals • Tobacco • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to sugar confectionery industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.