Global Licorice Candy Market Overview:
The word licorice was derived from the Greek, which meant “sweet root”. Licorice is essentially a type of flowering plant that is subject to Southern Europe and Asia. The sweet flavor in licorice is provided by glycyrrhizin, which is 50 times sweeter than sugar. Licorice candy is a sweet which is usually flavored and colored black and red with the extracts of the roots of the licorice plant. A huge variety range of licorice sweets is produced all around the world. It is usually manufactured in the shape of chewy ropes or tubes. Black licorice combined with anise extract is also a well-known flavor in other types of sweets like jellybeans. In addition, there are various other licorice-based sweets that are sold in the United Kingdom, like licorice allsorts. Dutch and Nordic licorice normally contains ammonium chloride in place of sodium chloride, significantly in salty licorice. Some of the key players profiled in the study are Mars Inc. (United States), Mondelez International Inc. (United States), Barcel S.A. (Mexico), Nestle SA (Switzerland), Hershey Foods Corp. (United States), Meiji Co. Ltd.(Japan), Perfetti Van Melle SpA (Italy), Haribo GmbH & Co. (Germany), August Storck KG (Germany), Yildiz Holding (Turkey) and United Confectioners (Russia).
On the basis of geography, the market of Licorice Candy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Ingredients, the sub-segment i.e. Licorice Extract will boost the Licorice Candy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Online will boost the Licorice Candy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging, the sub-segment i.e. Re-closable Zipper Bags will boost the Licorice Candy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Growth in Population
- Increase in Consumption of Licorice Due to the High Level of Calcium in it
- Changing lifestyles and Standards Fueled by Rising Disposable Income
- Adoption of These Licorice Candies, Owing to the Fact That They Help in Quitting Smoking, as Licorice is a Common Ingredient in Tobacco
- Growing Demand for Diverse Flavors of Candy
- Focus on Development and Innovations of New Flavored Candy
- Increasing Availability of Artificial Flavors
- Strict Rules and Regulations for Usage of Food Flavors and Licorice
- Rising Focus on Younger Consumer Based Licorice Candy through New Inventions
- Increasing Number of All Natural and Upscale Varieties of Candies
- Growing Emphasis on Healthy Products and All Natural Ingredients
- Growing Dominance of the Local Players
- Increasing the risk of adulteration
On September 12th, 2019 – Mars Food’s UNCLE BEN’S brand had a partnership with Innit, a Connected Food platform, to launch a breakthrough AI-driven innovation that will forever change the way consumers engage with food. UNCLE BEN’S is the first food brand to leverage Google Lens, Google’s visual search technology, to connect helpful digital information to physical products and unlock dinnertime solutions in-store and at home. With an increasingly complex landscape of dietary restrictions and consumer questions – and an ever-growing lack of time – grocery shopping has become daunting. The UNCLE BEN’S-Innit Google Lens experience is designed to help families cut through the clutter to provide recommendations, inspiration, and information where and when they need it.
Licorice and its derivatives, including ammoniated glycyrrhizin, are generally recognized as safe (GRAS) for use in foods by the US Food and Drug Administration (FDA). This regulation includes descriptions, specifications and maximum use levels for licorice and licorice derivatives. The FDA assumes that glycyrrhizin levels in foods do not pose a health hazard, provided that these foods are not consumed in excess. and Also, the European Food Safety Authority(EFSA) derived a tolerable weekly intake of 120ng/kg body weight of the OTA which formed the basis for the rules placing new maximum levels for the toxin in range of foodstuffs like dried vine fruit, cocoa, and cocoa products and licorice.
The fragmented nature of the market is due to the great number of players present in the market. Market leaders are now focusing on new product innovations and developments due to highly changing customer demands and preferences. Also with the increase in demand from the emerging economies is also driving the demand for the Licorice Candy market.
Target Audience:Manufacturers of Licorice Candy, Suppliers of Licorice Candy, Online and Offline Retailers, Traders, Distributors, and Suppliers of Licorice Candy, Food and Beverage Industry and Regulatory Bodies
Major Objectives Focused through this Study To define, describe, and forecast the Global Licorice Candy market on the basis of product [Black Licorice, Red Licorice, Salty Licorice and Others] , application [Personal Consumption, Hotels, Restaurants, Institutes and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Licorice Candy market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Licorice Candy industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Jelly Belly Candy Co.(United States) and American Licorice Co.(United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Licorice Candy market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.