The global licorice candy market is estimated to reach a market worth of US$ 278.5 million by 2023, with a 5.2% CAGR by 2033. By 2033, the global market for licorice candy is expected to be worth US$ 403.4 million.
Licorice has long been a favourite among sweets connoisseurs of all ages. Its distinct and addictive flavour is a combination of sweet and salty with a dash of anise flavour. But where did the licorice candy craze begin?
Customer demand for licorice-flavored confectionery items is driving the growth of the Licorice Candy Market. Many people like licorice candy because of its distinct flavour and nostalgic appeal. Product developments, such as the introduction of new flavours and varieties, are also propelling market expansion and broadening customer appeal.
One possible explanation is that it is one of the market’s oldest candies. For ages, people in Europe and Asia have ingested licorice. Licorice root is a natural detoxifier that can also help with digestive problems.
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