Top 10 Companies in the Southeast Asia Ammoniated Glycyrrhizin Market (2026): Market Leaders Powering Regional Growth

MARKET INSIGHTS

The Southeast Asia Ammoniated Glycyrrhizin market was valued at USD 1,200 million in 2024. The market is projected to grow from USD 1,300 million in 2025 to USD 2,800 million by 2034, exhibiting a CAGR of 9.5% during the forecast period.

Ammoniated Glycyrrhizin, also known as monoammonium glycyrrhizinate, is an ammonium salt derived from glycyrrhizic acid found in the root of the licorice plant (Glycyrrhiza glabra). This natural compound serves as a high‑intensity sweetener, approximately 50 to 100 times sweeter than sucrose, with additional properties such as anti‑inflammatory, antioxidant, and soothing effects. It plays a key role in various industries, including food and beverages for flavor enhancement, cosmetics for skin conditioning, pharmaceuticals for therapeutic applications like anti‑ulcer treatments, and animal feed for nutritional benefits. Its versatility stems from its ability to stabilize emulsions and act as a humectant, making it essential in product formulations across Southeast Asia.

Southeast Asia Ammoniated Glycyrrhizin Market – View in Detailed Research Report

The market is experiencing steady growth due to increasing demand for natural ingredients amid rising health consciousness and regulatory preferences for clean‑label products in the region. Factors such as the expansion of the food and beverage sector, coupled with a surge in natural cosmetics and pharmaceuticals, are driving adoption. However, challenges like supply chain fluctuations in licorice root sourcing persist. Growing investments in sustainable agriculture and processing technologies are supporting market expansion. Key players, including Riken Vitamin Co., Ltd., Maruzen Pharmaceuticals Co., Ltd., and Minophagen Pharmaceutical Co., Ltd., maintain strong portfolios and focus on regional distribution to capitalize on opportunities in countries like Thailand and Indonesia.

🔟 1. Top 10 Companies in Southeast Asia Ammoniated Glycyrrhizin Market

1️⃣ 1. Riken Vitamin Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Food Grade Ammoniated Glycyrrhizin

Riken Vitamin has been a pioneer in natural sweetener solutions, leveraging advanced extraction technologies to deliver high‑purity grades suitable for food, beverage, and cosmetic applications across Southeast Asia.

Sustainability Initiatives:

• Certified sustainable licorice root sourcing across Japan and Indonesia.
• Carbon‑neutral manufacturing processes.
• Investment in regenerative agriculture.

2️⃣ 2. Maruzen Pharmaceuticals Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: Pharmaceutical Grade Ammoniated Glycyrrhizin

Maruzen Pharmaceuticals specializes in therapeutic-grade glycyrrhizin derivatives, providing anti‑ulcer and anti‑inflammatory formulations for the Southeast Asian market.

Sustainability Initiatives:

• ISO 14001 environmental management system.
• Use of renewable energy in production facilities.
• Partnerships with local farmers for sustainable licorice cultivation.

3️⃣ 3. Minophagen Pharmaceutical Co., Ltd.

Headquarters: Seoul, South Korea
Key Offering: Pharmaceutical and Food Grade Ammoniated Glycyrrhizin

Minophagen supplies high‑purity glycyrrhizin for both pharmaceutical and food sectors, focusing on quality compliance with ASEAN regulations.

Sustainability Initiatives:

• Zero‑waste manufacturing processes.
• Eco‑friendly packaging solutions.
• Community outreach for sustainable agriculture.

4️⃣ 4. Fuso Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Feed Grade Ammoniated Glycyrrhizin

Fuso Chemical provides feed‑grade glycyrrhizin for livestock nutrition, enhancing animal health and growth performance.

Sustainability Initiatives:

• Energy‑efficient production lines.
• Use of recycled materials in packaging.
• Collaboration with animal nutrition research institutes.

5️⃣ 5. Kuraray Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Multi‑grade Ammoniated Glycyrrhizin

Kuraray offers a wide range of glycyrrhizin products, including food, cosmetic, and pharmaceutical grades, backed by robust R&D.

Sustainability Initiatives:

• Carbon‑neutral goal by 2030.
• Water‑saving technologies.
• Support for local licorice growers.

6️⃣ 6. Alfa Chemistry

Headquarters: Milan, Italy
Key Offering: Specialty Chemical Ammoniated Glycyrrhizin

Alfa Chemistry supplies specialty grades for high‑value applications in cosmetics and pharmaceuticals.

Sustainability Initiatives:

• Green chemistry practices.
• Reduction of hazardous waste.
• Supplier sustainability audits.

7️⃣ 7. Sigma‑Aldrich (Merck KGaA)

Headquarters: Darmstadt, Germany
Key Offering: Research‑grade Ammoniated Glycyrrhizin

Sigma‑Aldrich provides high‑purity research chemicals, supporting scientific studies and product development across Southeast Asia.

Sustainability Initiatives:

• ISO 9001 quality management.
• Carbon footprint monitoring.
• Support for sustainable sourcing of raw materials.

8️⃣ 8. Thermo Fisher Scientific Inc.

Headquarters: Waltham, Massachusetts, USA
Key Offering: Laboratory and Analytical Grade Ammoniated Glycyrrhizin

Thermo Fisher offers analytical‑grade glycyrrhizin for research laboratories and quality control in the food and pharma sectors.

Sustainability Initiatives:

• Energy‑efficient laboratories.
• Recycling of chemical waste.
• Global sustainability reporting.

9️⃣ 9. VWR International, LLC

Headquarters: Radnor, Pennsylvania, USA
Key Offering: Bulk Supply of Ammoniated Glycyrrhizin

VWR supplies bulk quantities for manufacturers, ensuring consistent supply and quality across Southeast Asian markets.

Sustainability Initiatives:

• Reduced packaging materials.
• Carbon‑offset shipping.
• Supplier diversity programs.

🔟 10. Applichem GmbH

Headquarters: Darmstadt, Germany
Key Offering: Industrial Grade Ammoniated Glycyrrhizin

Applichem provides industrial‑grade glycyrrhizin for large‑scale food and beverage processing, emphasizing cost efficiency and purity.

Sustainability Initiatives:

• Lean manufacturing processes.
• Energy‑efficient production.
• Support for sustainable raw‑material sourcing.

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🌍 Outlook: The Future of Ammoniated Glycyrrhizin in Southeast Asia

The Southeast Asia Ammoniated Glycyrrhizin market is poised for robust growth, driven by escalating demand for natural sweeteners and functional ingredients across food, cosmetics, and pharmaceuticals. Regulatory momentum favoring clean‑label ingredients, coupled with increasing consumer health awareness, is expected to sustain a CAGR of 9.5% through 2034. Strategic investments in sustainable cultivation, advanced extraction technologies, and digital supply‑chain solutions will further consolidate market leadership.

📈 Future Trends Shaping the Market

• Expansion of nutraceutical and wellness applications, leveraging glycyrrhizin’s anti‑ulcer and anti‑inflammatory properties.
• Growth of e‑commerce platforms enabling small brands to distribute glycyrrhizin‑infused products across borders.
• Adoption of biotechnological methods to enhance yield and purity.
• Increased regulatory harmonization across ASEAN, simplifying cross‑border trade.
• Consumer shift towards plant‑based, low‑calorie sweeteners, boosting demand for glycyrrhizin as a natural alternative.