Licorice Extract Market

The licorice extract market has witnessed significant growth in recent years, driven by rising demand for natural ingredients in the food, beverage, and pharmaceutical industries. The growing awareness of licorice extract's health benefits, such as its anti-inflammatory and antimicrobial properties, has further fueled market expansion. Technological advancements have enabled the production of high-quality licorice extracts with standardized active ingredients, leading to increased adoption in both traditional and emerging applications.Key market drivers include the increasing prevalence of chronic diseases and the growing demand for functional foods and supplements.

Moreover, the rising consumer preference for natural and plant-based products has created lucrative opportunities for licorice extract suppliers. The market is poised for further growth as the pharmaceutical industry continues to explore the therapeutic potential of licorice extract in treating various ailments, including respiratory and digestive disorders.Recent trends in the licorice extract market point towards the emergence of specialized extracts tailored to specific health concerns. For instance, deglycyrrhizinated licorice extract (DGL) has gained popularity for its anti-inflammatory and ulcer-healing properties.

Additionally, the rising popularity of licorice root tea and lozenges has contributed to the market's growth, showcasing the versatility of licorice extract in various product formats.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

The Global Licorice Extract Market Industry is poised for substantial growth, with projections indicating a market size of 3.05 USD Billion by 2035. This growth is underpinned by various factors, including increasing applications across food, beverage, pharmaceutical, and cosmetic sectors. The anticipated CAGR of 5.12% from 2025 to 2035 suggests a robust expansion trajectory, driven by rising consumer preferences for natural ingredients and health-oriented products. The market dynamics indicate a favorable environment for stakeholders, as innovations in extraction processes and product formulations continue to emerge. This growth potential highlights the licorice extract market's resilience and adaptability in meeting evolving consumer demands.

The Global Licorice Extract Market Industry benefits from regulatory support and standardization efforts aimed at ensuring product quality and safety. Governments and industry associations are increasingly recognizing the importance of establishing guidelines for the use of licorice extract in various applications. This regulatory framework not only enhances consumer confidence but also encourages manufacturers to adopt best practices in sourcing and production. As a result, the market is likely to see an influx of high-quality licorice products, further driving consumer demand. This supportive environment is expected to play a crucial role in the sustained growth of the licorice extract market in the coming years.

The Global Licorice Extract Market Industry is witnessing a notable expansion in pharmaceutical applications, driven by the extract's therapeutic properties. Licorice is utilized in various formulations, including cough syrups and expectorants, due to its soothing effects on the throat and respiratory system. The increasing prevalence of respiratory disorders globally is likely to bolster the demand for licorice extract in the pharmaceutical sector. Furthermore, the extract's potential to enhance the efficacy of certain medications may lead to its incorporation in new drug formulations. This trend suggests a promising future for the licorice extract market, as it aligns with the overall growth trajectory of the industry.

The Global Licorice Extract Market Industry experiences a notable surge in demand driven by its applications in the food and beverage sector. Licorice extract is increasingly utilized as a natural sweetener and flavoring agent, appealing to health-conscious consumers. In 2024, the market is projected to reach 1.76 USD Billion, reflecting a growing preference for natural ingredients over synthetic alternatives. This trend is particularly evident in the production of confectionery and soft drinks, where licorice extract enhances flavor profiles while offering potential health benefits. As consumers gravitate towards clean-label products, the demand for licorice extract is expected to continue its upward trajectory.

The Global Licorice Extract Market Industry is significantly influenced by the growing awareness of the health benefits associated with licorice extract. Research indicates that licorice possesses anti-inflammatory, antioxidant, and antimicrobial properties, making it a valuable ingredient in dietary supplements and herbal medicines. As consumers increasingly seek natural remedies, the market for licorice extract is likely to expand. The extract is also recognized for its potential in managing digestive issues and respiratory ailments, further driving its adoption in health and wellness products. This trend aligns with the projected market growth, as the industry is expected to reach 3.05 USD Billion by 2035.

The Global Licorice Extract Market Industry is significantly impacted by the rising consumer interest in natural and organic products. As individuals become more health-conscious, there is a marked shift towards products that are perceived as safe and beneficial. Licorice extract, being a natural ingredient, fits well within this trend, appealing to consumers who prioritize clean-label products. This shift is evident across various sectors, including cosmetics and personal care, where licorice extract is valued for its skin-soothing properties. The increasing demand for organic licorice extract is likely to contribute to the market's growth, with a projected CAGR of 5.12% for the period from 2025 to 2035.

The regional segmentation of the Licorice Extract Market provides insights into the market's geographic distribution and performance. The market is segmented into five key regions: North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023, accounting for approximately 35% of the global revenue. This dominance is attributed to the presence of well-established food and beverage industries, along with a growing consumer base seeking natural and healthy ingredients.

Europe is another significant region, with a market share of around 28% in 2023.The region benefits from a strong pharmaceutical and cosmetics industry, driving demand for licorice extract in these applications. The APAC region is expected to witness the fastest growth during the forecast period, owing to the increasing demand for licorice extract in traditional medicine and food products in countries like China and India. South America and MEA are expected to have a moderate growth rate, with growing awareness about the health benefits of licorice extract.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Investing in research and development to enrich the products provided and increase capability is a strategy major market players follow. The leading companies in the market are focused on providing their customers with the tastes they expect; as a result, they develop new products, and their production is consistent with emerging needs and trends. As for the development landscape, one might note that numerous partnerships, acquisitions, and other arrangements have been a response to emerging challenges. They have contributed to the creation of companies with a much stronger market presence and increased access to new resources and technologies.

The competitive landscape is rather dynamic, and the companies involved seek to maintain their positions and enhance their market power through new products and mergers.A.M. Todd is a company in Los Angeles, CA, that competes in the industry. It is known for its diverse product portfolio and is among the key players in many regions of the world. As of today, the company provides its customers with access to a variety of extract components, including glycyrrhizic acid, glabridin, and licochalcone A ”. It should be noted that A.M.

Todd focuses on quality instead of quantity, and all of its facilities meet GMP and ISO standards. In addition, the company can be proud of its distribution network, which is rather extensive and contributes to its product availability in the market. Meanwhile, Indena is another strong competitor that specializes in the extraction and purification of botanicals. It is known for its licorice extract, which has very high purity and other exceptional qualities. Finally, one should mention that this company has a well-developed research department and is engaged in operations in over 80 countries.