India Licorice Market Overview, 2029

India's licorice industry is noteworthy for its wide range of uses in traditional medicine, food and beverage, cosmetics, and pharmaceuticals. India’s licorice is mostly grown in Gujarat, Rajasthan, and Haryana. Because of their dry temperatures, these areas are ideal for cultivating licorice, which needs semi-arid to desert environments. Licorice's anti-inflammatory, expectorant, and digestive qualities make it a common ingredient in Ayurvedic medicine formulas. Herbal teas, alcoholic drinks, sweets, and confections all employ liquorice extracts as flavoring ingredients. Licorice extracts are prized in cosmetics for their antioxidant, anti-inflammatory, and skin-soothing qualities. In the tobacco business, licorice is used to sweeten and change the flavor of tobacco products. A certain climate is needed for licorice farming, and variations in the weather can have an impact on crop output. It is imperative to guarantee the uniformity of quality and purity of licorice products, particularly for pharmaceutical and international markets. According to the research report "India Licorice Market Overview, 2029," published by Bonafide Research, the India Licorice market is anticipated to grow at more than 12.67% CAGR from 2024 to 2029. India's ancient Ayurvedic medicine has long used licorice, which is prized for its medicinal qualities. The anti-inflammatory, expectorant, and digestive properties of licorice continue to be a major source of demand for the pharmaceutical industry. In India, the food and beverage sector is starting to use more and more licorice extracts. They are utilized in herbal teas, sweets, confections, and alcoholic drinks as natural flavoring agents. Customers looking for natural and herbal substitutes are drawn to licorice's distinctive sweet and slightly bitter taste character. In India, the personal care and cosmetics sector is using licorice extracts more and more. They are prized for their antioxidant, anti-inflammatory, and skin-soothing qualities, which make them perfect for treatments that address aging, hyperpigmentation, and sensitive skin. India is a global exporter of licorice and licorice-related items. Licorice roots, extracts, and powders are exported to the culinary, cosmetics, and pharmaceutical sectors worldwide.

The flavor of black licorice is mostly found in sweets and confections. Customers seeking classic licorice flavor characteristics in confections are drawn to its unique taste. Fruit-flavored sweets are usually the most popular in the candy industry, even in India. In addition to licorice, these candies frequently include other fruit tastes like strawberry, orange, lemon, etc. In terms of flavor, anise and licorice are closely linked. Anise is frequently used in culinary products and occasionally in herbal teas. It might not be as popular in India as other flavors found in mainstream consumer goods, such as fruit or black licorice. Cinnamon is a widely used spice flavor in a variety of culinary and beverage applications. Cinnamon is a common ingredient in traditional Indian pastries, drinks, and sweets. For the reason that it is so simple to include into formulations like tablets, capsules, and syrups, powdered licorice is widely desired in the pharmaceutical sector. In the manufacturing of pharmaceuticals, it makes possible consistent production procedures and accurate dosage. Liquid licorice extracts are frequently favored in the food and beverage industry. It's simple to blend liquid extracts into drinks, add flavor to candies, and combine them into sauces and syrups. In the cosmetics and personal care products market, liquid licorice extracts are widely utilized, just like in the food and beverage sector. Because of their ability to soothe skin and reduce inflammation, they are used in serums, creams, lotions, and masks. The form that is chosen mostly depends on the unique needs of each industry sector, such as formulation flexibility, simplicity of usage in manufacturing processes, and intended use in the finished product. In India, the pharmaceutical sector is the main market for licorice. In recognition of its many health benefits, licorice has long been a mainstay of Ayurvedic therapy. For licorice has anti-inflammatory and expectorant qualities, modern Indian pharmaceutical companies are also adding licorice extracts to allopathic treatments. In India, the food and beverage industry ranks second in terms of licorice consumption. The market for licorice is raising as consumers show a preference for natural and herbal components in culinary items. In India, the personal care and cosmetics sectors likewise heavily rely on licorice. The usage of licorice in this industry is being driven by consumers' growing preference for skincare products made with natural and plant-based components. In India, the tobacco business makes up a lesser portion of the licorice market than the other three.

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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.