Global Licorice Extract Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• Health and Wellness Boom: There has been a notable increase in consumer demand for natural and functional ingredients in dietary supplements and health products. Licorice extract, known for its potential health benefits such as anti-inflammatory and digestive properties, has seen rising incorporation into supplements targeting immune support, digestive health, and stress relief.

• Clean Label Movement: As consumers become more conscious about the ingredients in their food and personal care products, there's been a significant shift towards clean label products. Licorice extract, being a natural ingredient, aligns well with this trend. Food manufacturers are increasingly using licorice extract as a natural sweetener and flavor enhancer in products like confectionery, beverages, and snacks.

This comprehensive report on the Global Licorice Extract Market offers a detailed analysis across various segments, providing a thorough examination of each segment's performance over historical and forecasted periods. Each market segment, including forms (such as block, powder, paste, and others) and applications (food & beverages, cosmetics & personal care, dietary supplements, tobacco products, and others), is meticulously studied.

The report delves into revenue analysis for both past and projected periods, offering insights derived from rigorous examination of relevant data points. These data points are crucial in identifying and understanding trends and patterns within the licorice extract market. For instance, the analysis covers consumption trends, market penetration rates across different regions, and shifts in consumer preferences towards natural ingredients.

Moreover, insights generated from data analysis provide a deeper understanding of market dynamics, including factors influencing demand and supply, competitive landscapes, and regulatory impacts. This helps stakeholders make informed decisions regarding market strategies, product development, and investment opportunities within the licorice extract industry.

Overall, the report serves as a valuable resource for industry professionals, investors, and decision-makers seeking comprehensive insights into the Global Licorice Extract Market. By substantiating each market segment with robust data analysis and meaningful insights, the report facilitates a nuanced understanding of current market conditions and future growth prospects.

Global Licorice Extract Segment Analysis

In this report, the Global Licorice Extract Market has been segmented by Form, Application and Geography.

Global Licorice Extract Market, Segmentation by Form

The Global Licorice Extract Market has been segmented by Form into Block, Powder, Paste and Others.

Block: Licorice extract in block form is typically solid and concentrated. It is commonly used in traditional medicine preparations and in some food applications where controlled release of flavor and active compounds is desired.

Powder: Powdered licorice extract is versatile and widely used across various industries. It is favored for its ease of incorporation into formulations, whether in food and beverages, cosmetics, or dietary supplements. Powdered form allows for standardized dosing and consistent product quality.

Paste: Licorice extract in paste form offers viscosity and adherence properties, making it suitable for applications in cosmetics and personal care products. It is often used as a natural ingredient in skincare products, hair care treatments, and oral hygiene products.

Others: This category may include specialized forms of licorice extract tailored for specific industrial or consumer needs. It could encompass concentrated extracts, liquid forms, or custom formulations developed for unique applications such as pharmaceuticals or industrial processes.

Global Licorice Extract Market, Segmentation by Application

The Global Licorice Extract Market has been segmented by Application into Food & Beverages, Cosmetics & Personal Care, Dietary Supplements, Tobacco Products and Others.

Food & Beverages: Licorice extract is used in food products primarily for its sweetening properties and flavor enhancement. It is utilized in confectionery, baked goods, beverages (both alcoholic and non-alcoholic), and savory snacks. The natural sweetness of licorice extract without added sugars appeals to consumers seeking healthier alternatives.

Cosmetics & Personal Care: In cosmetics, licorice extract is valued for its anti-inflammatory and skin-soothing properties. It is incorporated into skincare products such as creams, lotions, and serums aimed at treating sensitive skin, reducing redness, and promoting even skin tone. Additionally, it is used in hair care products for scalp health and to enhance hair shine and manageability.

Dietary Supplements: Licorice extract is a popular ingredient in dietary supplements due to its potential health benefits. It is often included in formulations targeting digestive health, respiratory wellness, and immune support. As consumers increasingly turn to natural supplements, licorice extract fills a niche for herbal remedies and traditional medicine practices.

Tobacco Products: Licorice extract is sometimes used in the flavoring of tobacco products, particularly in certain types of cigarettes and chewing tobacco. It contributes to the aroma and taste profile of these products, although its use is subject to regulatory scrutiny in many regions.

Others: This category may encompass less common applications of licorice extract, such as its use in pharmaceuticals for its medicinal properties, in pet care products, or in industrial applications where its properties as a natural ingredient are beneficial.

Global Licorice Extract Market, Segmentation by Geography

In this report, the Global Licorice Extract Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Licorice Extract Market Share (%), by Geographical Region, 2024

Asia Pacific has been the dominant region for licorice extract consumption, driven by historical and cultural uses in traditional medicine and culinary practices across countries like China, India, and Japan. These nations have a longstanding tradition of utilizing licorice root in herbal remedies, which has sustained demand in pharmaceuticals and dietary supplements.

North America and Europe follow closely, characterized by a growing preference for natural and organic ingredients in food, beverages, and personal care products. The demand in these regions is bolstered by increasing consumer awareness of the health benefits associated with licorice extract, such as its anti-inflammatory properties and potential as a natural sweetener.

Latin America and Middle East & Africa are emerging markets for licorice extract, spurred by rising disposable incomes, urbanization, and expanding food and beverage industries. These regions present opportunities for market expansion, particularly in dietary supplements and cosmetics where natural ingredients are gaining popularity.

This report provides an in depth analysis of various factors that impact the dynamics of Global Licorice Extract Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers:

• Natural Sweetener Demand
• Herbal Supplements Growth
• Pharmaceutical Applications Increase
• Rising Health Consciousness

• Growing Food Industry - The growing food industry's reliance on natural ingredients is a significant driver for the global licorice extract market. Consumer preference for clean-label products and natural sweeteners has spurred the demand for licorice extract in food applications. Licorice extract's natural sweetness without added sugars aligns with current health trends focused on reducing sugar intake while maintaining flavor.

  Food manufacturers are increasingly incorporating licorice extract into various products such as confectionery, bakery items, and beverages to enhance taste profiles and meet consumer expectations for healthier alternatives. This trend is particularly prominent in developed markets where health-conscious consumers scrutinize ingredient lists and seek products perceived as natural and beneficial.

  Additionally, licorice extract offers functional benefits beyond flavor enhancement, including its use as a natural preservative and its potential health-promoting properties. These attributes make licorice extract a versatile ingredient that adds value to food products, appealing to both manufacturers aiming to differentiate their offerings and consumers seeking nutritious and flavorful options.

Restraints:

• Environmental Challenges Impact
• Fluctuating Raw Material Prices
• Regulatory Changes Complexity
• Limited Geographic Growth

• Competition Intensity Rise - As consumer awareness of natural ingredients grows, numerous manufacturers and suppliers are entering the market, intensifying competition and putting pressure on pricing and profit margins.

  This heightened competition not only affects established players but also presents challenges for new entrants trying to gain market share. Companies must differentiate themselves through product innovation, quality assurance, and strategic partnerships to maintain a competitive edge. Moreover, fluctuating raw material prices and supply chain disruptions further exacerbate competitive pressures, impacting production costs and overall market stability.

  Regulatory changes and compliance requirements also pose restraints to market growth. Licorice extract, being a natural product, is subject to varying regulations across different regions regarding cultivation, extraction processes, and product labeling. Adhering to these regulations adds complexity and costs to market participants, particularly smaller firms with limited resources.

  Addressing these challenges requires a proactive approach from industry stakeholders, including continuous innovation, sustainable sourcing practices, and collaboration with regulatory bodies to navigate compliance requirements effectively. Despite these restraints, the market's growth potential remains strong, driven by ongoing consumer demand for natural and health-promoting ingredients in various applications.

Opportunities:

• Expanded Product Applications
• Emerging Markets Growth
• Clean Label Trend
• Technological Advancements Opportunity

• Increased Organic Demand - The increasing demand for organic and natural products presents a significant opportunity for the global licorice extract market. Consumers are increasingly opting for clean-label products and are more conscious of the ingredients used in their food, beverages, and personal care products. This shift in consumer preference towards natural alternatives positions licorice extract as a favorable ingredient due to its perceived health benefits and functional properties.

  Additionally, technological advancements in extraction methods and processing techniques offer opportunities for market players to enhance product quality and efficiency. Improved extraction technologies not only increase yield but also reduce production costs, making licorice extract more competitive in the market.

  Collaboration and partnerships across the value chain also present avenues for growth. By working together with suppliers, manufacturers, and distributors, companies can streamline operations, expand market reach, and leverage combined expertise to develop innovative licorice extract products tailored to specific consumer needs.

Key players in Global Licorice Extract Market include:

• Alfarid Corporation Limited
• AOS Products Pvt. Ltd.
• Avestia Pharma
• C.E. Roeper GmbH
• F&C Licorice Ltd.
• Herbochem
• Hyundai Bioland
• Mafco Worldwide LLC
• Maruzen Pharmaceuticals Co. Ltd.

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis