The global Liquiritin (CAS 551-15-5) Market is experiencing significant growth, valued at USD 42.8 million in 2024 with projections to reach USD 68.5 million by 2032, expanding at a CAGR of 6.1%. This natural flavonoid extracted from licorice root is gaining traction across pharmaceutical, cosmetic, and food industries due to its antioxidant and anti-inflammatory properties. The market’s acceleration reflects the global shift toward plant-based bioactive ingredients.
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Market Overview & Regional Analysis
Asia-Pacific dominates with a 48% market share, driven by China’s robust herbal medicine industry and Japan’s advanced cosmetic applications. North America shows the fastest growth, fueled by FDA approvals for liquiritin in functional foods. Europe maintains steady demand through pharmaceutical applications, while emerging markets in Latin America and MEA present untapped potential despite infrastructure challenges.
Key Market Drivers and Opportunities
The pharmaceutical sector accounts for 42% of consumption, leveraging liquiritin’s neuroprotective properties in metabolic disorder treatments. Cosmetic applications are growing at 6.8% CAGR as brands reformulate skin-lightening products with natural alternatives. Meanwhile, the food grade segment (28% market share) benefits from licorice’s use as a sweetener in functional beverages across Asia.
Emerging opportunities include nutraceutical applications in liver health supplements and advanced extraction technologies improving yields by 30-35%. The push for sustainable sourcing and clean-label products continues to open new revenue streams across all sectors.
Challenges & Restraints
Supply chain volatility remains critical – climate change has reduced licorice yields by 12-15% since 2022, while regulatory compliance costs have increased production expenses by 18-22%. Batch consistency issues (up to 25% variability in active compound concentrations) and price competition from synthetic alternatives (40-50% cheaper) pose significant hurdles.
Market Segmentation by Type
- Pharmaceutical Grade (≥98% purity)
- Food Grade (95-98%)
- Feed Grade (90-95%)
Market Segmentation by Application
- Pharmaceutical Industry
- Cosmetic Industry
- Food Industry
- Others
Competitive Landscape
The market features fragmentation with Magnasweet and F&C Licorice leading (25% combined share). Asian manufacturers like Zelang are gaining ground through cost advantages, while European players such as Norevo GmbH specialize in high-purity extracts. Recent developments include Zagros Licorice’s cosmetic formulation partnership and ASEH’s patented aqueous extraction process boosting yields.
Report Scope
This comprehensive analysis covers 2024-2032, examining:
- Revenue forecasts and growth trends
- Application-specific demand analysis
- Competitor strategies and capacity expansions
- Regional market dynamics
- Technological and regulatory impacts
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