Liquorice Research:CAGR of 4.9% during the forecast period

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report “Liquorice- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”. Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2025-2031), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.

The global market for Liquorice was estimated to be worth US$ 1545 million in 2024 and is forecast to a readjusted size of US$ 2129 million by 2031 with a CAGR of 4.8% during the forecast period 2025-2031.

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https://www.qyresearch.com/reports/3439156/liquorice

 Liquorice Market Summary

Liquorice 

Liquorice is a plant with a sweet root that is commonly used to make candy and flavourings. It has a distinct flavor that is often described as sweet, slightly bitter, and reminiscent of anise or fennel. Liquorice is also used in traditional medicine for its potential health benefits, such as soothing sore throats and aiding digestion. It is a popular ingredient in candies, teas, and herbal remedies. This report focuses on the licorice candy market.

Licorice candy is a type of confectionery that is flavoured with licorice extract. It can come in various forms, such as twists, ropes, bites, or even coated in chocolate. Licorice candy has a distinct sweet and slightly salty flavor that is loved by many people. It is often enjoyed as a treat or snack and can be found in many candy stores and supermarkets.

Picture. Liquorice Picture

Source: Secondary Sources and QYResearch, 2024

According to the new market research report “Global Liquorice Market Report 2024-2030”, published by QYResearch, the global Liquorice market size is projected to reach USD 2.04 billion by 2030, at a CAGR of 4.9% during the forecast period.

• Global Liquorice MarketSize(US$ Million), 2019-2030

Above data is based on report from QYResearch: Global Liquorice Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.

• Global Liquorice Top15Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)

Above data is based on report from QYResearch: Global Liquorice Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.

According to QYResearch Top Players Research Center, the global key manufacturers of Liquorice include Hershey, Red Vines, Cloetta (Venco), Halva, Klene, RJ’S, Kenny’s Candy, Switzer’s Authentic Candy, Gimbals Fine Candies, Fini Company, etc. In 2023, the global top five players had a share approximately 44.07% in terms of revenue.

• Liquorice,Global Market Size, Split by Product Segment

Original black licorice is a type of candy made with licorice root extract, sugar, and various flavourings. It has a distinct black color and a strong, slightly bitter taste. It is a popular treat in many countries and is often enjoyed by those who appreciate its unique flavor.

Fruit flavored licorice candy is a delicious treat that combines the chewy texture of licorice with the sweet and tangy taste of various fruits. Some popular fruit flavors for licorice candy include strawberry, cherry, raspberry, and orange. Whether you prefer traditional red licorice or more exotic fruit flavors, fruit flavored licorice candy is sure to satisfy your sweet tooth cravings. Enjoy it as a snack on its own or use it as a fun topping for ice cream or baked goods.

Based on or includes research from QYResearch: Global Liquorice Market Report 2024-2030.

In terms of product type, Fruit Flavored Candy segment is the largest segment, hold a share of 58.9%.

Main driving factors:

D1: Stable demand from downstream consumers is a direct driver of market growth.

D2: By expanding into new markets in Asia and North America and adapting its products to local tastes and preferences, licorice candy brands can develop new sources of revenue and growth.

D3: Brands that invest in innovative packaging designs and eye-catching displays can differentiate themselves from competitors and drive sales.

Main Market Challenges：

C1: Licorice candy sales may be affected by seasonal fluctuations, with demand peaking around holidays such as Halloween and Christmas. This can make it challenging for companies to maintain consistent sales throughout the year.

C2: Licorice candy may not be as widely available as other types of candy, which can limit its reach and accessibility to consumers.

C3: Consumer tastes and preferences are constantly evolving, and licorice candy may not appeal to all demographics.

Main obstacles:

R1: Licorice candy is often high in sugar and can contribute to health issues such as obesity, diabetes, and tooth decay.

R2: Licorice is a key ingredient in licorice candy, and any disruptions in the supply chain can impact production and availability of the product.

R3: Licorice candy can be relatively expensive compared to other types of candy, which can make it less appealing to price-sensitive consumers.

Development trend of Liquorice:

1.Market growing steadily

The licorice candy market is expected to witness steady growth in the coming years due to the increasing demand for unique and exotic flavors in the confectionery industry. Licorice candy is popular for its distinct taste and texture, making it a favorite among consumers looking for something different from traditional sweets.

2.Healthier options

As consumers become more health-conscious, there is a growing demand for healthier versions of licorice candy. This includes sugar-free options, as well as candies made with natural ingredients and no artificial additives.

3.Unique flavors

Consumers are increasingly looking for unique and exotic flavors in their candy choices. Licorice candy manufacturers are likely to experiment with new flavor combinations to cater to this demand.

4.Premiumization

There is a trend towards premiumization in the candy market, with consumers willing to pay more for high-quality, artisanal products. Licorice candy manufacturers may focus on creating premium offerings to capture this segment of the market.

The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.

The Liquorice market is segmented as below:

By Company

    Hershey
    Haribo
    Tootsie
    Red Vines
    Darrell Lea
    Fini Company
    Klene (Perfetti Van Melle Benelux BV)
    Lakrids
    Kenny’s Candy
    Halva
    RJ’S
    Venco
    Switzer’s Authentic Candy
    Gimbals Fine Candies
    Panda

Segment by Type

    Original Black Licorice
    Fruit Flavored Candy

Segment by Application

    Supermarket
    Online Sales
    Convenient Store

Each chapter of the report provides detailed information for readers to further understand the Liquorice market:

Chapter 1: Introduces the report scope of the Liquorice report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2020-2031)

Chapter 2: Detailed analysis of Liquorice manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2020-2025)

Chapter 3: Provides the analysis of various Liquorice market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2020-2031)

Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2020-2031)

Chapter 5:  Sales, revenue of Liquorice in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2020-2031)

Chapter 6:  Sales, revenue of Liquorice in country level. It provides sigmate data by Type, and by Application for each country/region.(2020-2031)

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2020-2025)

Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 9: Conclusion.

Benefits of purchasing QYResearch report:

Competitive Analysis: QYResearch provides in-depth Liquorice competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis: QYResearch provides Liquorice comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.

and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size: QYResearch provides Liquorice market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.

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