Global Licorice Extract Market Size, Share, Growth Report 2030

The global licorice extract market was valued at approximately USD 1.8 billion in 2021 and is expected to grow to approximately USD 2.7 billion by 2030, at a compound annual growth rate (CAGR) of approximately 4.8% between 2022 and 2030. The report examines the global licorice extract market’s drivers, restraints/challenges, and the impact they will have on demand over the forecast period. Furthermore, the report investigates emerging opportunities in the licorice extract market.

Licorice Extract Market: Overview

Licorice extract is a herbal extract made from naturally grown and wild Glycyrrhiza glabra roots. It has a sweet and aromatic flavour and is made by boiling the pulp of licorice roots. It is commonly found in paste, liquid, block, and powdered forms and is used as a natural sweetener and flavouring in confections, beverages, and medications. Their anti-inflammatory, anticancer, antibacterial, and antioxidant properties can be used to treat hot flashes, acid reflux, digestive issues, menopausal symptoms, heartburn, and bacterial and viral infections. Licorice extract is also beneficial in the treatment of hepatitis C, peptic ulcers, cavities, blood sugar control, and weight loss. As a result, it has a wide range of applications in many different industries, including the pharmaceutical, cosmetics, and food & beverage industries.

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Licorice Extract Market: Growth Drivers

Rising public awareness of the beneficial properties of licorice extract will drive market growth.

Individuals’ proclivity to lead sedentary lifestyles has grown in tandem with their purchasing power. Some complications, however, can result in serious health issues such as diabetes or problems with the heart or other vital organs such as the liver. As a result, efforts are being made to promote healthy food consumption, maintain a healthy diet, and combine excellent and beneficial elements in meals to make them more nutritious.

Licorice Extract Market: Segmentation

The global licorice extract market is divided into four sections: type, form, application, and region.

The global market is divided into three types: food grade, feed grade, and pharmaceutical grade. The pharmaceutical grade segment had the highest revenue share in 2021 and is expected to continue to dominate during the forecast period. Licorice extract of pharmaceutical grade is commonly found in medicines, cough syrup, creams, and cosmetics. It relieves indigestion, acid reflux, and soothes sore throats. Licorice extract is used in the pharmaceutical industry as a liquid and powder ingredient in tablets, lotions, ointments, syrups, and cosmetics. Licorice extract is used to treat eczema and acne in creams and cosmetics. As a result, driving segmental growth

The global licorice extract industry is divided into three types: liquid, block, and powder. The powder segment held the largest market share in 2021 and is expected to maintain this trend throughout the forecast period. Spray drying licorice extract until it becomes a fine powder yields licorice extract powder.

The liquid is usually extremely thick and viscous, with a viscosity comparable to paste. The most common form is a liquid extract. The food and beverage industry is the most reliant on liquid extraction. Candy made from licorice is a popular delicacy in many parts of Europe and America. They can be used to make a variety of beverages, including tea and root beer.

Licorice Extract Market: Competitive Analysis

The global licorice extract market is dominated by players like

FC Liquorice
Zagros Liquorice co.
VPL Chemicals
MAFCO Worldwide LLC
Aushadhi Herbal
Aseh Co.
Green Wave Ingredients Inc.
Sanat Products LTD.
Maruzen Pharmaceutical Co. Ltd.
Alfarid Corporation Limited
Avestia Pharma
Nutra Green Biotechnology Co. Ltd.
Mafco Worldwide LLC
Mitsubishi Corporation Life Sciences Limited.

The global licorice extract market is segmented as follows:

By Type

Feed Grade
Pharmaceutical Grade
By Form

By Application

Food & Beverages
Tobacco Products
Cosmetics & Personal Care

By Region

North America
The U.S.
The UK
Rest of Europe

Asia Pacific

South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Rest of Latin America
Middle East & Africa
South Africa
Rest of Middle East & Africa

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