Global Licorice Candy Market Size study, by Product Type (Original Black Licorice, Fruit Flavored Candy, Apple, Anise, Grape, Cinnamon, Grape, Strawberry, Others) by Packaging (Cans, Jars, Bottles, Others) by Sales Channel (Direct Sales, Indirect Sales, Modern Trade, Convenience Store, Departmental Store, Online Retailers, Traditional Grocery Store, Other Channels) by end use industries (Restaurants and Hotels, Schools and Institutions, Recreational and Sports Centers, Household Consumption, Others) and Regional Forecasts 2021-2027
Global Licorice Candy Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2021-2027. Licorice candies are made from licorice extracts obtained from a flowering plant of the bean family Fabaceae, which is mainly found in Western Asia, North Africa, and Southern Europe. Licorice candies are found to be helpful in treating conditions such as eczema, tooth decay, and sore throat. Licorice roots also have proven beneficial in cleaning respiratory systems. Growing demand for plant-based foods and rising health consciousness among consumers are key drivers for the growth of Licorice Candy market. For instance, according to The Good Food Institute, USA retail sales of plant-based foods in USA reached to USD 7 billion in the year 2020, indicating growth of 27 percent from the year 2019. In 2020, 57 percent of all U.S. households purchased plant-based foods (approximately 71 million households) as compared to 53 percent household in the year 2019. Also, as per India Brand Equity Forum- the markets for medical plants in India is estimated at USD 0.056 billion in the year 2019 and it is expected to increase at a CAGR 38.5% and would reach to USD 0.188 billion by the year 2026. Also, with the increasing adoption from pharmaceutical industry and shifting trend towards healthy eating, the adoption & demand for Licorice Candy is likely to increase the market growth during the forecast period. However, volatile costs of raw material, impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Licorice Candy market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing demand for healthy products from the consumers in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as growing pharmaceutical industry and shifting consumer preference in the region would create lucrative growth prospects for the Licorice Candy market across Asia-Pacific region.
Major market player included in this report are:
The Old Time Candy Company
Gimbal's Fine Candy
Kenny's Candy Company, Inc.
Candy Crate Inc.
American Licorice Company
The Hershey Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Original Black Licorice
Fruit Flavored Candy
By Sales Channel:
Traditional Grocery Store
By End Use Industries:
Restaurants and Hotels
Schools and Institutions
Recreational and Sports Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Licorice Candy Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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