Global Glycyrrhiza Glabra (Licorice) Root Extract Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027
Date: Apr-2021 | Id: MACRC-56236 | Geographical Scope: Global | Publisher: HNY Research
The global Glycyrrhiza Glabra (Licorice) Root Extract market is expected to reach US$ XX Million by 2027, with a CAGR of XX% from 2020 to 2027, based on HNY Research newly published report. The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America). By Market Verdors: Sepidan Osareh Sabinsa Maruzen Pharmaceuticals F&C Licorice Amruta Herbals Norevo GmbH Amsar SK Bioland Aushadhi Herbal Vee Kay International The Garden of Naturalsolution Actives International BotanicalsPlus Huzhou Ouli Biotechnology Jarchem Industries Qinghai Lake Pharmaceutical Phyto Life Sciences Bioveda Naturals Carrubba Indus Extracts Spec-Chem Industry AQIA Croda By Types: Pharmaceutical Grade Food Grade Feed Grade By Applications: Cosmetic Pharmaceutical Food Industry Tobacco Industry Key Indicators Analysed Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors. Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications. Market Trends: Market key trends which include Increased Competition and Continuous Innovations. Opportunities and <b>Drivers:</b> Identifying the Growing Demands and New Technology Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry. Key Reasons to Purchase To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape. Assess the production processes, major issues, and solutions to mitigate the development risk. To understand the most affecting driving and restraining forces in the market and its impact in the global market. Learn about the market strategies that are being adopted by leading respective organizations. To understand the future outlook and prospects for the market. Besides the standard structure reports, we also provide custom research according to specific requirements.
1 Report Overview 1.1 Study Scope and Definition 1.2 Research Methodology 1.2.1 Methodology/Research Approach 1.2.2 Data Source 1.3 Key Market Segments 1.4 Players Covered: Ranking by Glycyrrhiza Glabra (Licorice) Root Extract Revenue 1.5 Market Analysis by Type 1.5.1 Global Glycyrrhiza Glabra (Licorice) Root Extract Market Size Growth Rate by Type: 2021 VS 2027 1.5.2 Pharmaceutical Grade 1.5.3 Food Grade 1.5.4 Feed Grade 1.6 Market by Application 1.6.1 Global Glycyrrhiza Glabra (Licorice) Root Extract Market Share by Application: 2022-2027 1.6.2 Cosmetic 1.6.3 Pharmaceutical 1.6.4 Food Industry 1.6.5 Tobacco Industry 1.7 Coronavirus Disease 2019 (Covid-19) Impact Will Have a Severe Impact on Global Growth 1.7.1 Covid-19 Impact: Global GDP Growth, 2019, 2021 and 2022 Projections 1.7.2 Covid-19 Impact: Commodity Prices Indices 1.7.3 Covid-19 Impact: Global Major Government Policy 1.8 Study Objectives 1.9 Years Considered 2 Global Glycyrrhiza Glabra (Licorice) Root Extract Market Trends and Growth Strategy 2.1 Market Top Trends 2.2 Market Drivers 2.3 Market Challenges 2.4 Porter’s Five Forces Analysis 2.5 Market Growth Strategy 2.6 SWOT Analysis 3 Global Glycyrrhiza Glabra (Licorice) Root Extract Market Players Profiles 3.1 Sepidan Osareh 3.1.1 Sepidan Osareh Company Profile 3.1.2 Sepidan Osareh Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.1.3 Sepidan Osareh Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.2 Sabinsa 3.2.1 Sabinsa Company Profile 3.2.2 Sabinsa Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.2.3 Sabinsa Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.3 Maruzen Pharmaceuticals 3.3.1 Maruzen Pharmaceuticals Company Profile 3.3.2 Maruzen Pharmaceuticals Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.3.3 Maruzen Pharmaceuticals Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.4 F&C Licorice 3.4.1 F&C Licorice Company Profile 3.4.2 F&C Licorice Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.4.3 F&C Licorice Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.5 Amruta Herbals 3.5.1 Amruta Herbals Company Profile 3.5.2 Amruta Herbals Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.5.3 Amruta Herbals Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.6 Norevo GmbH 3.6.1 Norevo GmbH Company Profile 3.6.2 Norevo GmbH Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.6.3 Norevo GmbH Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.7 Amsar 3.7.1 Amsar Company Profile 3.7.2 Amsar Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.7.3 Amsar Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.8 SK Bioland 3.8.1 SK Bioland Company Profile 3.8.2 SK Bioland Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.8.3 SK Bioland Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.9 Aushadhi Herbal 3.9.1 Aushadhi Herbal Company Profile 3.9.2 Aushadhi Herbal Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.9.3 Aushadhi Herbal Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.10 Vee Kay International 3.10.1 Vee Kay International Company Profile 3.10.2 Vee Kay International Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.10.3 Vee Kay International Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.11 The Garden of Naturalsolution 3.11.1 The Garden of Naturalsolution Company Profile 3.11.2 The Garden of Naturalsolution Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.11.3 The Garden of Naturalsolution Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.12 Actives International 3.12.1 Actives International Company Profile 3.12.2 Actives International Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.12.3 Actives International Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.13 BotanicalsPlus 3.13.1 BotanicalsPlus Company Profile 3.13.2 BotanicalsPlus Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.13.3 BotanicalsPlus Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.14 Huzhou Ouli Biotechnology 3.14.1 Huzhou Ouli Biotechnology Company Profile 3.14.2 Huzhou Ouli Biotechnology Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.14.3 Huzhou Ouli Biotechnology Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.15 Jarchem Industries 3.15.1 Jarchem Industries Company Profile 3.15.2 Jarchem Industries Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.15.3 Jarchem Industries Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.16 Qinghai Lake Pharmaceutical 3.16.1 Qinghai Lake Pharmaceutical Company Profile 3.16.2 Qinghai Lake Pharmaceutical Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.16.3 Qinghai Lake Pharmaceutical Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.17 Phyto Life Sciences 3.17.1 Phyto Life Sciences Company Profile 3.17.2 Phyto Life Sciences Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.17.3 Phyto Life Sciences Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.18 Bioveda Naturals 3.18.1 Bioveda Naturals Company Profile 3.18.2 Bioveda Naturals Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.18.3 Bioveda Naturals Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.19 Carrubba 3.19.1 Carrubba Company Profile 3.19.2 Carrubba Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.19.3 Carrubba Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.20 Indus Extracts 3.20.1 Indus Extracts Company Profile 3.20.2 Indus Extracts Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.20.3 Indus Extracts Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.21 Spec-Chem Industry 3.21.1 Spec-Chem Industry Company Profile 3.21.2 Spec-Chem Industry Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.21.3 Spec-Chem Industry Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.22 AQIA 3.22.1 AQIA Company Profile 3.22.2 AQIA Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.22.3 AQIA Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.23 Croda 3.23.1 Croda Company Profile 3.23.2 Croda Glycyrrhiza Glabra (Licorice) Root Extract Product Specification 3.23.3 Croda Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity, Revenue, Price and Gross Margin (2016-2021) 4 Global Glycyrrhiza Glabra (Licorice) Root Extract Market Competition by Market Players 4.1 Global Glycyrrhiza Glabra (Licorice) Root Extract Production Capacity Market Share by Market Players (2016-2021) 4.2 Global Glycyrrhiza Glabra (Licorice) Root Extract Revenue Market Share by Market Players (2016-2021) 4.3 Global Glycyrrhiza Glabra (Licorice) Root Extract Average Price by Market Players (2016-2021) 5 Global Glycyrrhiza Glabra (Licorice) Root Extract Production by Regions (2016-2021) 5.1 North America 5.1.1 North America Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.1.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in North America (2016-2021) 5.1.3 North America Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.1.4 North America Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.2 East Asia 5.2.1 East Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.2.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in East Asia (2016-2021) 5.2.3 East Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.2.4 East Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.3 Europe 5.3.1 Europe Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.3.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in Europe (2016-2021) 5.3.3 Europe Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.3.4 Europe Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.4 South Asia 5.4.1 South Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.4.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in South Asia (2016-2021) 5.4.3 South Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.4.4 South Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.5 Southeast Asia 5.5.1 Southeast Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.5.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in Southeast Asia (2016-2021) 5.5.3 Southeast Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.5.4 Southeast Asia Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.6 Middle East 5.6.1 Middle East Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.6.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in Middle East (2016-2021) 5.6.3 Middle East Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.6.4 Middle East Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.7 Africa 5.7.1 Africa Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.7.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in Africa (2016-2021) 5.7.3 Africa Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.7.4 Africa Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.8 Oceania 5.8.1 Oceania Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.8.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in Oceania (2016-2021) 5.8.3 Oceania Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.8.4 Oceania Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.9 South America 5.9.1 South America Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.9.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in South America (2016-2021) 5.9.3 South America Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.9.4 South America Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 5.10 Rest of the World 5.10.1 Rest of the World Glycyrrhiza Glabra (Licorice) Root Extract Market Size (2016-2021) 5.10.2 Glycyrrhiza Glabra (Licorice) Root Extract Key Players in Rest of the World (2016-2021) 5.10.3 Rest of the World Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Type (2016-2021) 5.10.4 Rest of the World Glycyrrhiza Glabra (Licorice) Root Extract Market Size by Application (2016-2021) 6 Global Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Region (2016-2021) 6.1 North America 6.1.1 North America Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.1.2 United States 6.1.3 Canada 6.1.4 Mexico 6.2 East Asia 6.2.1 East Asia Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.2.2 China 6.2.3 Japan 6.2.4 South Korea 6.3 Europe 6.3.1 Europe Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.3.2 Germany 6.3.3 United Kingdom 6.3.4 France 6.3.5 Italy 6.3.6 Russia 6.3.7 Spain 6.3.8 Netherlands 6.3.9 Switzerland 6.3.10 Poland 6.4 South Asia 6.4.1 South Asia Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.4.2 India 6.5 Southeast Asia 6.5.1 Southeast Asia Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.5.2 Indonesia 6.5.3 Thailand 6.5.4 Singapore 6.5.5 Malaysia 6.5.6 Philippines 6.6 Middle East 6.6.1 Middle East Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.6.2 Turkey 6.6.3 Saudi Arabia 6.6.4 Iran 6.6.5 United Arab Emirates 6.7 Africa 6.7.1 Africa Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.7.2 Nigeria 6.7.3 South Africa 6.8 Oceania 6.8.1 Oceania Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.8.2 Australia 6.9 South America 6.9.1 South America Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 6.9.2 Brazil 6.9.3 Argentina 6.10 Rest of the World 6.10.1 Rest of the World Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Countries 7 Global Glycyrrhiza Glabra (Licorice) Root Extract Production Forecast by Regions (2022-2027) 7.1 Global Forecasted Production of Glycyrrhiza Glabra (Licorice) Root Extract (2022-2027) 7.2 Global Forecasted Revenue of Glycyrrhiza Glabra (Licorice) Root Extract (2022-2027) 7.3 Global Forecasted Price of Glycyrrhiza Glabra (Licorice) Root Extract (2022-2027) 7.4 Global Forecasted Production of Glycyrrhiza Glabra (Licorice) Root Extract by Region (2022-2027) 7.4.1 North America Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.2 East Asia Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.3 Europe Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.4 South Asia Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.5 Southeast Asia Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.6 Middle East Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.7 Africa Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.8 Oceania Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.9 South America Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.4.10 Rest of the World Glycyrrhiza Glabra (Licorice) Root Extract Production, Revenue Forecast (2022-2027) 7.5 Forecast by Type and by Application (2022-2027) 7.5.1 Global Sales Volume, Sales Revenue and Sales Price Forecast by Type (2022-2027) 7.5.2 Global Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Application (2022-2027) 8 Global Glycyrrhiza Glabra (Licorice) Root Extract Consumption Forecast by Regions (2022-2027) 8.1 North America Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.2 East Asia Market Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.3 Europe Market Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Countriy 8.4 South Asia Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.5 Southeast Asia Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.6 Middle East Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.7 Africa Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.8 Oceania Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.9 South America Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 8.10 Rest of the world Forecasted Consumption of Glycyrrhiza Glabra (Licorice) Root Extract by Country 9 Global Glycyrrhiza Glabra (Licorice) Root Extract Sales by Type (2016-2027) 9.1 Global Glycyrrhiza Glabra (Licorice) Root Extract Historic Market Size by Type (2016-2021) 9.2 Global Glycyrrhiza Glabra (Licorice) Root Extract Forecasted Market Size by Type (2022-2027) 10 Global Glycyrrhiza Glabra (Licorice) Root Extract Consumption by Application (2016-2027) 10.1 Global Glycyrrhiza Glabra (Licorice) Root Extract Historic Market Size by Application (2016-2021) 10.2 Global Glycyrrhiza Glabra (Licorice) Root Extract Forecasted Market Size by Application (2022-2027) 11 Global Glycyrrhiza Glabra (Licorice) Root Extract Manufacturing Cost Analysis 11.1 Glycyrrhiza Glabra (Licorice) Root Extract Key Raw Materials Analysis 11.1.1 Key Raw Materials 11.2 Proportion of Manufacturing Cost Structure 11.3 Manufacturing Process Analysis of Glycyrrhiza Glabra (Licorice) Root Extract 12 Global Glycyrrhiza Glabra (Licorice) Root Extract Marketing Channel, Distributors, Customers and Supply Chain 12.1 Marketing Channel 12.2 Glycyrrhiza Glabra (Licorice) Root Extract Distributors List 12.3 Glycyrrhiza Glabra (Licorice) Root Extract Customers 12.4 Glycyrrhiza Glabra (Licorice) Root Extract Supply Chain Analysis 13 Analyst's Viewpoints/Conclusions 14 Disclaimer