Licorice Root Market

A major market driver for licorice root is its increasing utilization in traditional medicine, especially in Asia. An increase in chronic diseases like diabetes and obesity additionally is also fuelling the acceptance of alternative therapeutic options, including licorice root. Further, due to the rise in the trends of functional foods & beverages, opportunities are present for adding licorice root in different foods as a flavoring and health-enhancing agent.

Some of the recent developments in the licorice root market include a rise in the availability of organic & free trade competition along with modern extraction and processing methods. It is anticipated that the increasing health awareness, together with the health-promoting qualities of licorice root, will also boost its demand going forward, especially in nutraceuticals and cosmetics.

In the licorice root market, there are possibilities of exploration and capture for the development of new products such as herbal supplements, skincare, and food applications. Further, the increase in these markets, chiefly China and India, presents a strong market growth opportunity. Therefore, understanding these fundamental trends will enable participants in the market to position themselves in a way that will benefit them while minimizing the challenges in the licorice root market.

The Global Licorice Root Market Industry is projected to witness substantial growth over the coming years. With a valuation of 9.07 USD Billion anticipated by 2024, the market is expected to expand further, reaching 15.4 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 4.92% from 2025 to 2035. Such projections indicate a robust demand for licorice root across various sectors, including food, pharmaceuticals, and cosmetics, reflecting the ingredient's versatility and appeal in a diverse range of applications.

Licorice root is increasingly recognized for its medicinal properties, which is propelling its use in the pharmaceutical sector. The Global Licorice Root Market Industry benefits from the root's active compounds, such as glycyrrhizin, which are believed to possess anti-inflammatory and antiviral effects. This has led to its incorporation in various therapeutic formulations, including cough syrups and digestive aids. As the global focus on health and wellness intensifies, the demand for licorice root in pharmaceuticals is anticipated to rise, potentially driving the market to a valuation of 15.4 USD Billion by 2035.

The Global Licorice Root Market Industry is also benefiting from the increasing use of licorice root extracts in cosmetic formulations. Known for its skin-soothing and brightening properties, licorice root is becoming a popular ingredient in skincare products. As consumers seek natural and effective solutions for skin care, the demand for products containing licorice root is likely to rise. This trend aligns with the broader movement towards clean beauty, where consumers prioritize ingredients that are perceived as safe and beneficial. The growth in this sector may further bolster the market, contributing to its overall expansion.

The rising popularity of herbal teas is significantly influencing the Global Licorice Root Market Industry. Licorice root is often used as a key ingredient in various herbal tea blends due to its unique flavor profile and health benefits. The trend towards healthier beverage options has led to an increase in the consumption of herbal teas, which are perceived as natural alternatives to traditional beverages. This shift is likely to enhance the market's growth, as consumers increasingly seek out licorice-infused products. The compound annual growth rate (CAGR) of 4.92% from 2025 to 2035 indicates a sustained interest in herbal tea products containing licorice root.

The Global Licorice Root Market Industry is experiencing a notable increase in demand for natural ingredients, driven by consumer preferences for organic and herbal products. This trend is particularly evident in the food and beverage sector, where licorice root is utilized for its flavoring properties and potential health benefits. As consumers become more health-conscious, the appeal of licorice root as a natural sweetener and flavor enhancer is likely to grow. This shift is projected to contribute to the market's expansion, with the industry expected to reach 9.07 USD Billion by 2024, reflecting a significant opportunity for manufacturers.

Regulatory frameworks that support the use of herbal products are playing a crucial role in the Global Licorice Root Market Industry. Governments worldwide are increasingly recognizing the potential benefits of herbal ingredients, leading to favorable regulations that encourage their use in food, pharmaceuticals, and cosmetics. This supportive environment is likely to facilitate market growth, as manufacturers can more easily incorporate licorice root into their products. The positive regulatory landscape may enhance consumer confidence in herbal products, further driving demand and contributing to the market's projected growth.

The Licorice Root Market is segmented into North America, Europe, APAC, South America, and MEA. North America dominates the market. The market growth in this region can be attributed to the increasing demand for natural and organic products, rising awareness about the health benefits of licorice root, and the presence of major manufacturers and suppliers. Europe is expected to witness significant growth over the forecast period, owing to the increasing demand for licorice root extract in the food and beverage industry.

APAC is projected to register the highest CAGR during the forecast period, driven by the growing demand for licorice root in traditional Chinese medicine and the increasing disposable income of consumers in the region.

South America and MEA are expected to witness moderate growth over the forecast period due to the limited awareness about the health benefits of licorice root and the underdeveloped distribution networks in these regions.

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

Major players in the Licorice Root Market are constantly developing and innovating to stay ahead of the competition. Leading Licorice Root Market players are investing in research and development to create new products and improve existing ones. They are also expanding their distribution networks and exploring new markets. The Licorice Root Market industry is characterized by a high level of competition. This is due to the presence of a large number of players, both large and small. The competitive landscape is further intensified by the entry of new players into the market.

Due to the intense competition, players in the Licorice Root Market are focusing on product differentiation and innovation to gain a competitive edge. They are also investing in marketing and branding initiatives to create a strong brand image and increase market awareness. This competitive environment is expected to continue in the coming years as players continue to vie for market share and profitability.

Swadeshi Herbs Ltd (SHL) is a leading Licorice Root Market provider that has been in business for over 20 years. The company offers a wide range of licorice root products, including licorice root powder, licorice root extract, and licorice root tea. SHL has a strong distribution network and sells its products to customers in over 50 countries. The company is committed to providing high-quality products and services and has a team of experienced professionals who are dedicated to customer satisfaction.

SHL is a reliable and trusted supplier of licorice root products and is well-positioned to continue to grow in the years to come.

Ahmad Tea Ltd is a leading Licorice Root Market competitor that has been in business for over 100 years. The company offers a wide range of tea products, including licorice root tea. Ahmad Tea Ltd has a strong distribution network and sells its products to customers in over 100 countries. The company is committed to providing high-quality products and services and has a team of experienced professionals who are dedicated to customer satisfaction. Ahmad Tea Ltd is a reliable and trusted supplier of licorice root tea and is well-positioned to continue to grow in the years to come.