Licorice Extract Industry 

Summary:

• The global licorice extract market size was valued at USD 2,169.35 Million in 2024.
• The market is expected to reach USD 3,299.46 Million by 2033, exhibiting a CAGR of 4.53% from 2025-2033.
• Region-wise, the market has been divided into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. 
• Based on the product type, the market has been divided into food grade, feed grade, and pharmaceutical grade.
• On the basis of form, the market has been segmented into block, powder, paste, and others.
• Based on the application, the market has been classified into food and beverages, pharmaceutical, tobacco, and others.
• The rising need for clean-label ingredients is a primary driver of the licorice extract market.
• The increasing product adoption in pharmaceutical industry is reshaping the licorice extract market.

 Industry Trends and Drivers: 

• Growing Demand for Natural Sweeteners in Food and Beverage Industry:

Licorice extract is gaining traction as a natural sweetener in the food and beverage industry, driven by consumer preference for healthier, plant-based alternatives to sugar. With its natural sweetness and unique flavor profile, licorice extract is increasingly used in low-calorie and sugar-free products, such as candies, beverages, and baked goods. This trend aligns with a broader movement toward clean-label products, where consumers seek transparency in ingredients and opt for minimally processed options. Additionally, licorice extract’s ability to enhance flavor and mask bitterness makes it a valuable ingredient for functional and nutritional beverages. As companies look to meet the demand for natural sweeteners without compromising on taste, licorice extract is becoming a preferred choice for food manufacturers. This trend is expected to grow as health-conscious consumers continue to prioritize products with natural ingredients, further expanding licorice extract market share.

• Rising Popularity in Skincare and Cosmetics:

The skincare and cosmetics industries are escalating the licorice extract demand as it is valued for its anti-inflammatory, antioxidant, and skin-brightening properties. Licorice extract is increasingly incorporated into skincare products like serums, creams, and lotions, targeting consumers looking to reduce hyperpigmentation, improve skin tone, and combat skin conditions such as redness and irritation. Its natural compound, glabridin, helps in inhibiting melanin production, which is effective for brightening dark spots and providing an even complexion. As consumers grow more informed about the benefits of plant-based skincare, they gravitate toward products featuring licorice extract, which offers gentle, natural results without harsh chemicals. Furthermore, the demand for anti-aging products continues to expand, positioning licorice extract as a sought-after ingredient in formulations designed to protect skin from environmental stressors. The emphasis on clean beauty and natural skincare solutions is shaping the licorice extract market trends.

• Increased Use in Traditional and Herbal Medicines:

Licorice extract is widely recognized in traditional and herbal medicine for its potential health benefits, particularly in managing respiratory, digestive, and immune conditions. In markets across Asia, especially China and Japan, licorice extract remains a staple in herbal remedies and is commonly used in formulations addressing sore throats, coughs, and digestive discomfort due to its soothing and anti-inflammatory properties. The global resurgence of interest in herbal medicine and natural health supplements has further fueled demand for licorice extract, particularly as consumers seek alternatives to synthetic pharmaceuticals. In Western countries, licorice extract is gaining popularity in supplements targeting immune support, stress relief, and liver health, as studies highlight its adaptogenic and antioxidant qualities. With its longstanding history and scientifically backed benefits, licorice extract is increasingly embraced by both consumers and health practitioners aiming to combine traditional knowledge with modern health practices. This trend is expected to continue, expanding licorice extract market size. 

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Licorice Extract Market Report Segmentation:

Breakup By Product Type:

• Food Grade
• Feed Grade
• Pharmaceutical Grade

Based on the product type, the market has been segmented into food grade, feed grade, and pharmaceutical grade.

Breakup By Form: 

• Block
• Powder
• Paste
• Others

On the basis of the form, the market has been segregated into block, powder, paste, and others.

Breakup By Application: 

• Food and Beverages
• Pharmaceutical
• Tobacco
• Others

Based on the application, the market has been divided into food and beverages, pharmaceutical, tobacco, and others.

Breakup By Region: 

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Region-wise, the market has been divided into North America (the United States, Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, others), Middle East and Africa. 

Top Licorice Extract Market Leaders:

• Alfarid Corporation Limited
• AOS Products Pvt. Ltd.
• Avestia Pharma
• C.E. Roeper GmbH
• F&C Licorice Ltd.
• Herbochem
• Hyundai Bioland
• Mafco Worldwide LLC
• Maruzen Pharmaceuticals Co. Ltd.
• Norevo GmbH
• Shaanxi FUJIE Pharmaceutical Co. Ltd.
• VPL Chemicals Pvt Ltd

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