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PUBLISHER: IMARC | PRODUCT CODE: 1722903
PUBLISHER: IMARC | PRODUCT CODE: 1722903
Licorice Extract Market Report Size, Share, Trends, and Forecast by Product Type, Form, Application, and Region, 2025-2033
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PAGES: 134 Pages
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The global licorice extract market size was valued at USD 2,169.35 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 3,299.46 Million by 2033, exhibiting a CAGR of 4.53% from 2025-2033. Europe currently dominates the market, holding a market share of over 32.8% in 2024. The European market's growth can be attributed to the rising health consciousness, escalating demand for natural products, and robust use in herbal medicines.
Licorice extract is a herbal extract derived from wild and organically grown Glycyrrhiza glabra licorice roots. It has a sweet and aromatic flavor and is produced by boiling the pulp of licorice roots. It is commonly available in paste, liquid, block and powdered forms that are used as a natural sweetener and flavoring agent in candies, beverages and medicines. It exhibits various anti-inflammatory, anticancer, antimicrobial and antioxidant properties that aid in the treatment of hot flashes, acid reflux, digestive ailments, menopausal symptoms, heartburn and bacterial and viral infections. Licorice extract also aids in treating peptic ulcers, hepatitis C, preventing cavities, improving blood sugar levels and promoting weight loss. As a result, it finds extensive application across various industries, such as pharmaceutical, cosmetics and food and beverage.
Licorice Extract Market Trends:
Significant growth in the food and beverage industry is one of the key factors creating a positive outlook for the market. Licorice extract is widely used in food products as a food additive or natural sweetener in cake batters, chewing gums, sweet custard and can also be mixed into a meat rub as a flavor enhancer. Additionally, the increasing product demand in the pharmaceutical industry is favoring the market growth. Licorice extract is widely used to manufacture medicines for indigestion, toothache, asthma, fever, bronchitis and skin infections. Moreover, the shifting consumer preference toward organic products, especially among the millennials due to the rising health consciousness, is providing a thrust to the market growth. In line with this, the widespread product adoption in the tobacco industry as a de-bittering agent is positively impacting the market growth. Other factors, including rising expenditure capacities of the consumers, along with the widespread product adoption in the cosmetic industry as a natural skin brightener, are anticipated to drive the market toward growth.
Key Market Segmentation:
Breakup by Product Type:
- Food Grade
- Feed Grade
- Pharmaceutical Grade
Breakup by Form:
- Block
- Powder
- Paste
- Others
Breakup by Application:
- Food and Beverages
- Pharmaceutical
- Tobacco
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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., Norevo GmbH, Shaanxi FUJIE Pharmaceutical Co. Ltd. and VPL Chemicals Pvt Ltd.
Key Questions Answered in This Report
- 1.What is licorice extract?
- 2.How big is the licorice extract market?
- 3.What is the expected growth rate of the global licorice extract market during 2025-2033?
- 4.What are the key factors driving the global licorice extract market?
- 5.What is the leading segment of the global licorice extract market based on product type?
- 6.What is the leading segment of the global licorice extract market based on form?
- 7.What is the leading segment of the global licorice extract market based on application?
- 8.What are the key regions in the global licorice extract market?
- 9.Who are the key players/companies in the global licorice extract market?
Product Code: SR112025A4952
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Licorice Extract Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product Type
- 6.1 Food Grade
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Feed Grade
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Pharmaceutical Grade
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Form
- 7.1 Block
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Powder
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Paste
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Application
- 8.1 Food and Beverages
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Pharmaceutical
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Tobacco
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Alfarid Corporation Limited
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 AOS Products Pvt. Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Avestia Pharma
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 C.E. Roeper GmbH
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 F&C Licorice Ltd.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Herbochem
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Hyundai Bioland
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Mafco Worldwide LLC
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Maruzen Pharmaceuticals Co. Ltd.
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Norevo GmbH
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Shaanxi FUJIE Pharmaceutical Co. Ltd.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 VPL Chemicals Pvt Ltd
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 Alfarid Corporation Limited
Product Code: SR112025A4952
List of Figures
- Figure 1: Global: Licorice Extract Market: Major Drivers and Challenges
- Figure 2: Global: Licorice Extract Market: Sales Value (in Million USD), 2019-2024
- Figure 3: Global: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 4: Global: Licorice Extract Market: Breakup by Product Type (in %), 2024
- Figure 5: Global: Licorice Extract Market: Breakup by Form (in %), 2024
- Figure 6: Global: Licorice Extract Market: Breakup by Application (in %), 2024
- Figure 7: Global: Licorice Extract Market: Breakup by Region (in %), 2024
- Figure 8: Global: Licorice Extract (Food Grade) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Licorice Extract (Food Grade) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Licorice Extract (Feed Grade) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Licorice Extract (Feed Grade) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Licorice Extract (Pharmaceutical Grade) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Licorice Extract (Pharmaceutical Grade) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Licorice Extract (Block) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Licorice Extract (Block) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Licorice Extract (Powder) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Licorice Extract (Powder) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Licorice Extract (Paste) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Licorice Extract (Paste) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Licorice Extract (Other Forms) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Licorice Extract (Other Forms) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Licorice Extract (Food and Beverages) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Licorice Extract (Food and Beverages) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Licorice Extract (Pharmaceutical) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Licorice Extract (Pharmaceutical) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Licorice Extract (Tobacco) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Licorice Extract (Tobacco) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: Licorice Extract (Other Applications) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: Licorice Extract (Other Applications) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: North America: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: North America: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: United States: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: United States: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Canada: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Canada: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Asia-Pacific: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Asia-Pacific: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: China: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: China: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: Japan: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: Japan: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: India: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: India: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: South Korea: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: South Korea: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Australia: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Australia: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Indonesia: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Indonesia: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Others: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Others: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Europe: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Europe: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Germany: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Germany: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: France: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: France: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: United Kingdom: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: United Kingdom: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Italy: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Italy: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Spain: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Spain: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: Russia: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: Russia: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Others: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Others: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Latin America: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Latin America: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Brazil: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Brazil: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Mexico: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Mexico: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Others: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Others: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 76: Middle East and Africa: Licorice Extract Market: Sales Value (in Million USD), 2019 & 2024
- Figure 77: Middle East and Africa: Licorice Extract Market: Breakup by Country (in %), 2024
- Figure 78: Middle East and Africa: Licorice Extract Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 79: Global: Licorice Extract Industry: SWOT Analysis
- Figure 80: Global: Licorice Extract Industry: Value Chain Analysis
- Figure 81: Global: Licorice Extract Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Licorice Extract Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Licorice Extract Market Forecast: Breakup by Product Type (in Million USD), 2025-2033
- Table 3: Global: Licorice Extract Market Forecast: Breakup by Form (in Million USD), 2025-2033
- Table 4: Global: Licorice Extract Market Forecast: Breakup by Application (in Million USD), 2025-2033
- Table 5: Global: Licorice Extract Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Licorice Extract Market: Competitive Structure
- Table 7: Global: Licorice Extract Market: Key Players
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