Licorice Extract Powder Market, Global Outlook and Forecast 2025-2032: Supply and Demand analysis, Regional Analysis and Competitive

The global Licorice Extract Powder Market is undergoing a steady transformation, with its valuation reaching USD 870 million in 2023. According to comprehensive industry analysis, the market is anticipated to reach USD 831.62 million by 2032, reflecting a CAGR of -0.01% during the forecast period. This nuanced trajectory highlights the market’s resilience amid shifting consumer preferences toward natural ingredients and herbal remedies.

Licorice extract powder is derived from Glycyrrhiza glabra roots and has gained prominence as both a natural sweetener and a therapeutic agent. Its bioactive compounds, such as glycyrrhizin, offer pharmacological benefits, making it indispensable in pharmaceuticals, food & beverage formulations, and cosmetic applications. The clean-label movement continues to drive adoption, particularly in regions with stringent regulations on synthetic additives.

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Market Overview & Regional Analysis

North America dominates the licorice extract market, accounting for USD 224.76 million in 2023, fueled by robust demand in nutraceuticals and functional foods. The region’s stringent FDA and Health Canada regulations on synthetic ingredients have accelerated the shift toward plant-based alternatives. However, the market shows negligible growth projections (CAGR -0.00%), indicating maturity and price sensitivity.

Asia-Pacific emerges as the fastest-growing region, with China and India leading production and consumption. Traditional medicine systems like Ayurveda and TCM incorporate licorice extensively, while food manufacturers leverage it as a sugar substitute amid rising diabetes prevalence. Europe maintains steady demand due to pharmaceutical applications, though regulatory scrutiny of glycyrrhizin concentrations in food products poses challenges.

Key Market Drivers and Opportunities

The market thrives on multiple fronts: pharmaceutical applications (40% demand share) for anti-inflammatory and antiviral formulations, growing preference for natural sweeteners in confectionery (30%), and expanding cosmeceutical usage for skin brightening (20%). Emerging opportunities include:

• Personalization in nutraceuticals: Customized herbal blends targeting digestive health and immunity
• Clean-label cosmetics: Replacement of hydroquinone with licorice in skin-lightening products
• Functional beverages: Incorporation in adaptogenic drinks and herbal teas

Strategic partnerships between farmers and extract manufacturers in Iran and Afghanistan—key raw material sourcing regions—present untapped potential for vertical integration.

Challenges & Restraints

Several factors constrain market expansion:

• Regulatory hurdles: Glycyrrhizin intake limits (≤100mg/day in EU) due to potential hypertensive effects
• Supply chain vulnerabilities: Climate change impacting licorice root yields in key producing regions
• Price volatility: Fluctuations in raw material costs (dried roots) ranging from $3-$8/kg

Trade complexities, including export restrictions in Uzbekistan and Turkmenistan, further complicate sourcing strategies.

Market Segmentation by Type

• Pharmaceutical Grade (55% market share)
• Food Grade (35%)
• Feed Grade (10%)

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Market Segmentation by Application

• Pharmaceutical Industry (Cough syrups, ulcer treatments)
• Food Industry (Confectionery, beverages)
• Cosmetic Industry (Brightening serums, acne treatments)
• Others (Tobacco flavoring, animal feed)

Market Segmentation and Key Players

• Magnasweet (US)
• ASEH (Iran)
• Zagros Licorice (Iran)
• F&C Licorice (Netherlands)
• Norevo GmbH (Germany)
• Maruzen Pharmaceuticals (Japan)
• Aushadhi Herbal (India)
• VPL Chemicals (India)

Report Scope

This 250-page report delivers comprehensive insights into the global licorice extract powder industry from 2024-2032, featuring:

• Production capacity analysis of 15+ manufacturers
• Patents analysis for extraction technologies (2019-2023)
• Impact assessment of EU Novel Food regulations
• Porter’s Five Forces and PESTEL analysis

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