The Global Mono-Ammonium Glycyrrhizinate Market was valued at USD 85.2 Million in 2024 and is projected to reach USD 124.7 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period (2024–2030). This robust growth is driven by increasing demand from the pharmaceutical industry, the rising popularity of natural and clean-label ingredients in cosmetics, and the expanding application of MAG as a high-intensity sweetener in the food and beverage sector.

As the market expands, a select group of companies is leading the way through advanced extraction technologies, strategic sourcing of licorice root, and a strong focus on product purity and therapeutic efficacy. In this blog, we profile the Top 10 Companies in the Mono-Ammonium Glycyrrhizinate Industry—key manufacturers and suppliers shaping the future of this high-value ingredient.

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🔟 1. MAFCO Worldwide LLC (A MAC Andrews Company)

Headquarters: Camden, New Jersey, USA
Key Offering: High-Purity Mono-Ammonium Glycyrrhizinate, Licorice Extract Derivatives

MAFCO Worldwide is recognized as a global leader and one of the oldest manufacturers of licorice products. Its MAG is known for its exceptional purity and consistency, serving the pharmaceutical, food, and tobacco industries. The company controls its supply chain from licorice root sourcing to final product manufacturing.

Innovation & Quality Initiatives:

• Proprietary extraction and purification processes
• Sustainable and traceable licorice root sourcing
• Extensive R&D focused on new MAG applications in therapeutics

Download FREE Sample Report: Mono-Ammonium Glycyrrhizinate Market – View in Detailed Research Report

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9️⃣ 2. Nippon Paper Industries Co., Ltd. (Through its subsidiary, Maruzen Pharmaceuticals)

Headquarters: Tokyo, Japan
Key Offering: Pharmaceutical-grade MAG, Glycyrrhizin Products

While Nippon Paper is primarily a paper manufacturer, its pharmaceutical subsidiary, Maruzen Pharmaceuticals, is a significant producer of glycyrrhizin-based products, including high-purity MAG. The company has a strong presence in the Asian pharmaceutical market, especially in Japan and China, where licorice root extracts have a long history of use.

Innovation & Quality Initiatives:

• Focus on pharmaceutical-grade purity and standardization
• Integration of traditional knowledge with modern production techniques

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8️⃣ 3. Tiansheng Pharmaceutical Co., Ltd.

Headquarters: Hohhot, Inner Mongolia, China
Key Offering: Mono-Ammonium Glycyrrhizinate, Licorice Extract

Tiansheng Pharmaceutical is a major Chinese player specializing in licorice extract and its derivatives. The company benefits from proximity to licorice-growing regions in Inner Mongolia and has developed significant production capacity for MAG, catering to both domestic and international markets.

Innovation & Quality Initiatives:

• Large-scale cultivation and processing of licorice root
• Strategic focus on cost-effective production for volume markets

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7️⃣ 4. FAME Pharmaceuticals Industry

Headquarters: Xi’an, Shaanxi, China
Key Offering: High-Purity MAG, Custom Glycyrrhizinate Formulations

FAME Pharmaceuticals is a specialized manufacturer of natural active pharmaceutical ingredients (APIs), with a strong portfolio in licorice-derived products. The company is known for its technical expertise in purification and its ability to produce MAG to meet specific customer specifications for pharmaceutical and cosmetic applications.

Innovation & Quality Initiatives:

• Advanced chromatographic purification technologies
• Strong R&D capabilities for novel MAG applications

Download FREE Sample Report: Mono-Ammonium Glycyrrhizinate Market – View in Detailed Research Report

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6️⃣ 5. Minophagen Pharmaceutical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Pharmaceutical-grade MAG, Specialty Liver Therapeutics

Minophagen Pharmaceutical has a long-standing reputation for its Stronger Neo-Minophagen C (SNMC) injection, a licensed pharmaceutical in Japan and parts of Asia that contains glycyrrhizin. The company possesses deep expertise in the therapeutic applications of MAG, particularly for liver health, making it a key innovator in the pharmaceutical segment.

Innovation & Quality Initiatives:

• Pioneering clinical research on the hepatoprotective effects of glycyrrhizin
• Strict quality control for injectable-grade MAG

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5️⃣ 6. Alps Pharmaceutical Ind. Co., Ltd.

Headquarters: Gifu, Japan
Key Offering: Mono-Ammonium Glycyrrhizinate, Natural Ingredient Extracts

Alps Pharmaceutical is a well-established Japanese manufacturer of crude drugs and plant extracts. The company produces high-quality MAG used in various pharmaceutical and cosmetic formulations, leveraging its expertise in traditional Japanese Kampo medicine.

Innovation & Quality Initiatives:

• Integration of MAG into modern and traditional medicine formulations
• Focus on sustainable and ethical sourcing practices

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4️⃣ 7. Xinjiang TIANSHAN Pharmaceuticals Industry (Group) Co., Ltd.

Headquarters: Urumqi, Xinjiang, China
Key Offering: MAG, Licorice Extracts, Botanicals

Strategically located in Xinjiang, a premier licorice-growing region, TIANSHAN Pharmaceuticals leverages its geographical advantage to control the supply of high-quality raw material. The company is a significant exporter of MAG and other licorice products, with a strong foothold in the global market.

Innovation & Quality Initiatives:

• Vertical integration from cultivation to finished product
• Investment in GMP-compliant manufacturing facilities

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3️⃣ 8. Shaanxi Fujie Pharmaceutical Co., Ltd.

Headquarters: Xi’an, Shaanxi, China
Key Offering: High-Purity MAG, Plant Extract APIs

Shaanxi Fujie Pharmaceutical is a specialized manufacturer of natural plant extracts and APIs. The company has established itself as a reliable supplier of Mono-Ammonium Glycyrrhizinate, with a focus on meeting the stringent quality requirements of international pharmaceutical and cosmetic customers.

Innovation & Quality Initiatives:

• Certified production facilities (GMP, ISO)
• Strong export-oriented business strategy

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2️⃣ 9. Fanzhi Group

Headquarters: Shaanxi, China
Key Offering: Mono-Ammonium Glycyrrhizinate, Licorice Powder

Fanzhi Group is a prominent Chinese enterprise engaged in the planting, processing, and sales of licorice and its extracts. The company’s integrated operations ensure a consistent supply of MAG, catering to a diverse client base across the pharmaceutical, food, and cosmetic industries.

Innovation & Quality Initiatives:

• Large-scale licorice plantation management
• Focus on cost-competitive production for broad market penetration

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1️⃣ 10. Ruihong Bio-technique

Headquarters: Shaanxi, China
Key Offering: MAG, Natural Sweeteners, Plant Extracts

Ruihong Bio-technique specializes in the research, development, and production of natural plant extracts, including Mono-Ammonium Glycyrrhizinate. The company focuses on technological innovation to improve extraction yields and product purity, positioning itself as a key supplier in the growing natural ingredients market.

Innovation & Quality Initiatives:

• Investment in R&D for improved extraction efficiency
• Development of MAG for specific functional food and cosmetic applications

Get Full Report Here: Mono-Ammonium Glycyrrhizinate Market – View in Detailed Research Report

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🌱 Outlook: The Future of Mono-Ammonium Glycyrrhizinate is Natural and Multi-Functional

The Mono-Ammonium Glycyrrhizinate market is experiencing a significant transformation. While its traditional use in pharmaceuticals remains strong, new applications in cosmetics as a soothing and brightening agent, and in the food industry as a natural sweetener, are creating fresh growth avenues. The market’s trajectory is firmly aligned with the global consumer shift toward natural, plant-based, and multifunctional ingredients.

📈 Key Trends Shaping the Market:

• Rising demand for clean-label and natural ingredients in personal care and food products
• Increased R&D into the anti-inflammatory and antiviral properties of MAG for new pharmaceutical applications
• Strategic vertical integration by key players to secure licorice root supply and ensure consistent quality
• Growing adoption in nutraceuticals and functional foods for liver health and wellness

Get Full Report Here: Mono-Ammonium Glycyrrhizinate Market – View in Detailed Research Report

The top companies profiled are not only supplying a crucial ingredient—they are at the forefront of unlocking the therapeutic and functional potential of licorice for a healthier and more natural future.