The global Licorice Root Extracts Market continues to demonstrate strong growth, with its valuation reaching USD 587.4 million in 2023. According to the latest industry analysis, the market is projected to grow at a CAGR of 8.1%, reaching approximately USD 1,015.6 million by 2030. This growth is largely fueled by increasing applications in pharmaceuticals, food and beverages, cosmetics, and dietary supplements, particularly in emerging economies where demand for natural ingredients with therapeutic properties is on the rise. While the market has faced fluctuations due to supply chain issues and regulatory scrutiny over glycyrrhizin content, recent trends show a robust recovery driven by consumer preference for herbal and organic products.
Licorice root extracts are integral to the production of natural flavorings, medicinal formulations, and skincare products. Derived from the root of the Glycyrrhiza glabra plant, these extracts offer anti-inflammatory, antioxidant, and antimicrobial benefits that make them highly desirable in industries transitioning toward clean-label and sustainable practices. As natural alternatives gain prominence, manufacturers and regulatory bodies are increasingly supporting innovation in extraction technologies and sustainable sourcing to meet growing global demand.
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Market Overview & Regional Analysis
Asia-Pacific dominates the global licorice root extracts market, accounting for a significant production share due to abundant cultivation in countries like China, Turkey, and Uzbekistan, which together supply over 80% of the world’s licorice roots. The region benefits from traditional medicinal uses in Ayurveda and Traditional Chinese Medicine, alongside modern applications in the food and pharmaceutical sectors. Rapid urbanization and rising health consciousness in India and China are fueling demand for licorice-based supplements and herbal teas. Furthermore, government initiatives promoting herbal exports are strengthening the market position in Southeast Asia.
North America’s growth is bolstered by increasing consumer interest in natural remedies and the expansion of the nutraceutical industry, with major players investing in organic and deglycyrrhizinated licorice (DGL) products to address health concerns. Europe leads in regulatory standards, with frameworks from the European Food Safety Authority (EFSA) ensuring safe glycyrrhizin levels in foods and cosmetics; the EU’s push for natural preservatives has boosted adoption in skincare formulations. Emerging regions like Latin America and the Middle East show promising growth potential, driven by rising disposable incomes and awareness of licorice’s benefits in treating digestive issues, though challenges such as limited local production and import dependencies persist. In Africa, traditional uses in herbal medicine are evolving into commercial opportunities, particularly in South Africa and Egypt, where integration with wellness trends is accelerating market penetration despite infrastructural hurdles.
Key Market Drivers and Opportunities
The market is driven by the global shift toward natural and plant-based ingredients, rising demand in the pharmaceutical and cosmetic industries for anti-inflammatory and skin-soothing properties, and technological advancements in solvent-free extraction methods that enhance purity and efficacy. Food and beverage applications account for a substantial portion of demand, particularly in confectionery and beverages where licorice provides a unique sweet flavor without artificial additives. The pharmaceutical sector benefits from its use in cough syrups and throat lozenges, while cosmetics leverage its humectant qualities for moisturizers and anti-aging creams. New applications in functional foods and pet nutrition offer significant future opportunities, as consumers seek holistic health solutions.
Opportunities also lie in the development of standardized extracts with controlled glycyrrhizin levels to comply with health regulations, and the integration of licorice in sustainable beauty products amid the clean beauty movement. The Asian nutraceutical market and European organic cosmetics sector present untapped potential for exporters, especially as e-commerce platforms expand access to premium herbal extracts. Moreover, research into licorice’s potential in managing metabolic disorders like diabetes could open doors in the burgeoning functional supplement industry. Because of these trends, companies are exploring partnerships for sustainable farming practices to secure supply chains and meet eco-conscious consumer demands. However, capitalizing on these requires innovation in processing to reduce bitterness and improve solubility for broader applications.
Challenges & Restraints
The licorice root extracts market faces challenges including overharvesting leading to supply shortages, concerns over high glycyrrhizin intake causing hypertension and electrolyte imbalances, and stringent environmental regulations on wild harvesting. Fluctuations in raw material prices due to weather impacts on cultivation in key regions like Central Asia continue to affect profitability, while collection inefficiencies and quality inconsistencies limit the availability of premium extracts. Trade restrictions, such as import quotas in some European countries to protect local herbal markets, pose further risks. Additionally, the rise of synthetic alternatives in flavoring and preservatives adds competitive pressure, prompting the industry to emphasize authenticity and traceability.
Market Segmentation by Type
- Blocks
- Powder
- Paste
- Others
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Market Segmentation by Application
- Food & Beverage Industry
- Tobacco Industry
- Pharmaceutical Industry
- Cosmetic Industry
- Dietary Supplements
Market Segmentation and Key Players
- Mafco Worldwide Corporation
- NOREVO GmbH
- Alfarid Corporation Limited
- Maruzen Pharmaceuticals Co. Ltd.
- Amarelli
- Beijing Gingko-Group Biological Technology Co. Ltd
- Greenyn Biotechnology Co. Ltd
- Medisca
- Shanxi Jinjin Pharmaceutical
Report Scope
This report presents a comprehensive analysis of the global and regional markets for Licorice Root Extracts, covering the period from 2024 to 2032. It includes detailed insights into the current market status and outlook across various regions and countries, with specific focus on:
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Sales, sales volume, and revenue forecasts
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Detailed segmentation by type and application
In addition, the report offers in-depth profiles of key industry players, including:
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Company profiles
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Product specifications
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Production capacity and sales
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Revenue, pricing, gross margins
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Sales performance
It further examines the competitive landscape, highlighting the major vendors and identifying the critical factors expected to challenge market growth. The analysis delves into how companies are navigating supply chain disruptions and investing in R&D for novel formulations that reduce side effects while enhancing bioavailability. For instance, the push toward organic certification is reshaping sourcing strategies, with a focus on regenerative agriculture to mitigate environmental impacts.
As part of this research, we surveyed Licorice Root Extracts companies and industry experts. The survey covered various aspects, including:
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Revenue and demand trends
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Product types and recent developments
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Strategic plans and market drivers
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Industry challenges, obstacles, and potential risks
Insights from these surveys reveal a consensus on the importance of sustainable sourcing, as experts highlight the need for better traceability to build consumer trust. Furthermore, discussions underscored the role of digital platforms in market expansion, enabling smaller producers to reach global audiences. While economic uncertainties pose short-term risks, long-term optimism stems from licorice’s versatile applications in emerging health sectors like immunity boosters post-pandemic.
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