The Licorice Extracts Market size was valued at USD 1.04 Billion in 2022 and is projected to reach USD 1.55 Billion by 2030, growing at a CAGR of 6.6% from 2024 to 2030.
The licorice extracts market is a rapidly growing sector with diverse applications in multiple industries, particularly in pharmaceuticals, food, and animal feed. Licorice, derived from the root of the Glycyrrhiza glabra plant, contains compounds like glycyrrhizin, which offer various health benefits and functional properties. These extracts are widely utilized in different forms, such as powder, liquid, and solid extract, and they play a critical role in product formulations across different sectors.
Pharmaceutical-grade licorice extracts are primarily used in the production of herbal medicines and nutraceuticals. This application focuses on the medicinal properties of licorice, such as its anti-inflammatory, anti-viral, and anti-oxidant effects. The extracts are commonly found in formulations for treating conditions like respiratory issues, digestive disorders, and chronic inflammation. Pharmaceutical-grade licorice extracts are characterized by their high purity levels, which ensure that they meet the stringent quality standards required for medicinal use.
The growing consumer demand for natural remedies and plant-based medicines has fueled the increase in pharmaceutical-grade licorice extract use. This trend is further supported by rising interest in functional foods, personalized medicine, and traditional healing practices. Licorice extracts, often available in the form of capsules, tablets, syrups, and topical applications, continue to gain popularity due to their perceived health benefits. As the awareness of natural therapies rises, the pharmaceutical-grade licorice extract market is expected to witness significant growth in the coming years.
Food-grade licorice extracts are predominantly used in the food and beverage industry as flavoring agents and sweeteners. Licorice's unique, sweet, and slightly bitter taste profile makes it an ideal addition to various products, such as candies, soft drinks, bakery products, and processed foods. In this application, licorice extracts are used to impart flavor, enhance the taste of certain food items, and extend shelf life through their preservative properties. Food-grade extracts also contain beneficial compounds that can offer digestive support and other health benefits when consumed in moderation.
The demand for food-grade licorice extracts is driven by increasing consumer interest in natural ingredients and the clean label trend in the food industry. As consumers seek healthier and more natural alternatives to artificial additives and sweeteners, food-grade licorice extracts have gained prominence. Additionally, the growth of the global confectionery market, especially in regions such as Europe and North America, further propels the demand for licorice-based products. As consumer preferences shift toward functional and plant-based food ingredients, the use of food-grade licorice extracts is expected to increase steadily.
Feed-grade licorice extracts are used in the animal feed industry to enhance the health and performance of livestock. Licorice extracts contain natural compounds that support the immune system, improve digestion, and promote overall well-being in animals. These extracts are typically added to animal feed formulations for poultry, cattle, and swine, contributing to healthier livestock and improved growth rates. In addition to their nutritional benefits, licorice extracts can also help improve the quality of meat and dairy products, benefiting both producers and consumers.
The growing demand for high-quality animal feed products that support sustainable farming practices is a key driver of the feed-grade licorice extract market. As livestock producers increasingly seek natural, plant-based additives to improve the health and productivity of animals, licorice extracts are becoming a popular choice. The rise in organic farming and an increasing focus on the welfare of animals further bolster the adoption of feed-grade licorice extracts. As these trends continue, the market for feed-grade licorice extracts is poised for significant expansion in the future.
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By combining cutting-edge technology with conventional knowledge, the Licorice Extracts market is well known for its creative approach. Major participants prioritize high production standards, frequently highlighting energy efficiency and sustainability. Through innovative research, strategic alliances, and ongoing product development, these businesses control both domestic and foreign markets. Prominent manufacturers ensure regulatory compliance while giving priority to changing trends and customer requests. Their competitive advantage is frequently preserved by significant R&D expenditures and a strong emphasis on selling high-end goods worldwide.
Norevo GmbH
F&C Licorice
Mafco Worldwide
Zagros Licorice
VPL Chemicals
SepidanOsareh
Maruzen Pharmaceuticals
Zelang Group
Ransom Naturals
North America (United States, Canada, and Mexico, etc.)
Asia-Pacific (China, India, Japan, South Korea, and Australia, etc.)
Europe (Germany, United Kingdom, France, Italy, and Spain, etc.)
Latin America (Brazil, Argentina, and Colombia, etc.)
Middle East & Africa (Saudi Arabia, UAE, South Africa, and Egypt, etc.)
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One of the major trends shaping the licorice extracts market is the growing preference for natural and plant-based ingredients across various industries. Consumers are increasingly seeking products that are free from synthetic additives and preservatives, which has led to an uptick in the use of licorice extracts in both the pharmaceutical and food sectors. As the clean label trend continues to gain momentum, manufacturers are investing in licorice-based formulations that cater to health-conscious consumers. Additionally, the versatility of licorice extracts in multiple product applications positions them as an essential ingredient in the development of health-focused food and beverage items.
Another key trend is the rise of functional foods and nutraceuticals, particularly in the pharmaceutical-grade segment. The increasing awareness of the health benefits of licorice extracts, such as their anti-inflammatory, anti-viral, and digestive-supportive properties, is driving the market for natural supplements. As more consumers seek alternatives to synthetic medications, the demand for licorice-based products in wellness and therapeutic applications continues to rise. Additionally, advancements in extraction techniques and processing methods are improving the availability and quality of licorice extracts, further boosting their application in various industries.
The licorice extracts market presents several lucrative opportunities across its various applications. The pharmaceutical sector, in particular, stands to benefit from the increasing shift towards natural and holistic treatments. With growing consumer interest in herbal medicines, the market for licorice-based products in the health and wellness space is poised for strong growth. Manufacturers can tap into this demand by developing new formulations and innovative delivery methods that enhance the therapeutic efficacy of licorice extracts.
Similarly, the food-grade licorice extract market offers substantial opportunities due to the rising trend of clean and natural label products. As more consumers demand healthier alternatives to artificial sweeteners and flavor enhancers, food manufacturers are turning to licorice extracts as a key ingredient in various food and beverage products. The feed-grade licorice extract segment also holds potential, particularly with the increasing focus on animal health and sustainable farming practices. As livestock producers look for natural solutions to improve animal welfare and productivity, the demand for feed-grade licorice extracts is expected to rise significantly.
What is licorice extract used for in the pharmaceutical industry?
Licorice extract is used in the pharmaceutical industry for its anti-inflammatory, anti-viral, and digestive support properties in various therapeutic products.
How is licorice extract applied in the food industry?
Licorice extract is used as a natural sweetener and flavoring agent in candies, beverages, and bakery products.
Can licorice extract improve digestion?
Yes, licorice extract is known for its digestive benefits, including soothing the digestive tract and relieving symptoms of indigestion.
Is licorice extract safe for consumption?
When consumed in moderation, licorice extract is generally considered safe, although excessive consumption may lead to health issues like high blood pressure.
What are the benefits of licorice extract for animals?
Licorice extract can boost the immune system, support digestion, and enhance the overall health of livestock, improving growth and productivity.
Can licorice extract be used in organic products?
Yes, licorice extract is commonly used in organic and natural product formulations due to its plant-based origin and beneficial properties.
Where is licorice extract sourced from?
Licorice extract is sourced from the root of the Glycyrrhiza glabra plant, which is predominantly grown in regions like Asia and Europe.
What are the different grades of licorice extract available?
Licorice extract is available in pharmaceutical, food, and feed grades, with varying purity levels and applications across different industries.
Why is the demand for licorice extract increasing in the food industry?
The increasing consumer preference for natural ingredients and clean-label products is driving the demand for licorice extract in food and beverages.
How does licorice extract benefit the skin?
Licorice extract has skin-soothing properties and is used in skincare products to reduce inflammation and brighten the skin tone.