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.

Red Vines

Kookaburra Liquorice

AirHeads

Candy Crate Inc.

American Licorice Company

The Hershey Company

Darrell Lea

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

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

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

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

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors