North America Monoammonium Glycyrrhizinate 98% Market was valued at USD 0.02 Billion in 2022 and is projected to reach USD 0.04 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
The North America Monoammonium Glycyrrhizinate 98% market has been witnessing significant growth in recent years, driven by its applications in various industries such as pharmaceuticals, cosmetics, and food. As a derivative of licorice root, Monoammonium Glycyrrhizinate (MAG) is highly valued for its potent anti-inflammatory, anti-viral, and antioxidant properties. The compound is particularly sought after for its effectiveness in treating conditions like ulcers, skin disorders, and respiratory ailments, alongside its ability to enhance the taste of certain food products.
One of the most prominent applications of Monoammonium Glycyrrhizinate in North America is in the pharmaceutical industry. The compound is commonly used as an active ingredient in topical creams and ointments due to its anti-inflammatory properties. It aids in reducing skin irritation, making it a popular choice in treating eczema, psoriasis, and other dermatological conditions. The pharmaceutical market’s growing demand for natural and effective ingredients has further boosted the demand for MAG, with manufacturers increasingly relying on the ingredient to formulate high-quality skin care products.
Beyond pharmaceuticals, the cosmetics industry is another major player driving the growth of the Monoammonium Glycyrrhizinate market. Cosmetic companies use it as an active ingredient in products like facial cleansers, anti-aging creams, and serums. Its ability to reduce redness and skin irritation, combined with its antioxidant properties, makes it highly desirable for formulations targeting sensitive skin. Additionally, the food industry is also tapping into the benefits of MAG as a flavor enhancer, particularly in beverages and confectionery products.
The North American market is seeing an increase in demand for organic and plant-based ingredients, which is expected to continue to drive the demand for Monoammonium Glycyrrhizinate. Industries are looking for sustainable and safe alternatives to synthetic chemicals, and MAG fits this requirement. Furthermore, the regulatory landscape in North America is becoming more favorable, as manufacturers of food and cosmetic products are increasingly emphasizing the inclusion of natural and safe ingredients in their formulations.
The North America Monoammonium Glycyrrhizinate 98% Market continues to grow, driven by increased demand across multiple industries, including pharmaceuticals, cosmetics, and food.
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Herbakraft
TOKIWA Phytochemical
Prinova
VITAL-CHEM Zhuhai Co.
Ltd.
Sabinsa
Alchem International Ltd
Ruitenberg BasIQs B.V.
Shaanxi Fujie Pharmaceutical
MAFCO Worldwide
Qingdao Taitong Pharmaceutical
Cokey
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America Monoammonium Glycyrrhizinate 98% Market
Food & Beverages
Nutraceuticals
Pharmaceuticals
Personal Care Products
Cosmetics
Other
Based on Types the Market is categorized into Below types that held the largest Monoammonium Glycyrrhizinate 98% market share In 2023.
Pharmaceutical Grade
Cosmetic Grade
Food Grade
Other
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America Monoammonium Glycyrrhizinate 98% Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America Monoammonium Glycyrrhizinate 98% Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Monoammonium Glycyrrhizinate 98% Market, By Type
6. North America Monoammonium Glycyrrhizinate 98% Market, By Application
7. North America Monoammonium Glycyrrhizinate 98% Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Monoammonium Glycyrrhizinate 98% Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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