Licorice Root Market Outlook Outlook 2025-2034: Key Trends, Growth Drivers, and Market Outlook Share

How Big Is the Licorice Root Market Expected to Be, and What Will Its Growth Rate Be?
In the past few years, there has been a significant enlargement in the market size of licorice root, expecting a rise from $3.04 billion in 2024 to $3.28 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.8%. The expansion during the historical period can be ascribed to the growing preference for healthy tea among customers, the intensified exploitation of licorice root in the food and beverage sector, its widespread use in conventional medical systems, its popularity as a component in the confectionery industry and its need in pharmaceutical preparations.

The market for licorice root is set to experience robust expansion in the upcoming years, surging to $4.39 billion by 2029 at a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this growth in the forecast period include the escalating utilization of licorice root as a natural sweetener in food and drink products, an increase in health and wellness trends, expanding nutraceutical sector, heightened demand in the cosmetic and skincare industry, and an increased emphasis on sustainability and ethical sourcing. Key trends to watch in the forecast period comprise advancements in extraction procedures, creation of innovative flavors for root beer, herbal supplement innovations, heightened licorice root adoption due to increased research and development, and product formulation advancements.

What Are the Main Catalysts for Growth in the Licorice Root Market?
The licorice root market is forecasted to expand due to the escalating demand in the pharmaceutical sector. The pharmaceutical industry encompasses firms and institutions that are engaged in the investigation, creation, production, and supply of drugs and medications. The surge in demand is attributable to the aging populace, the escalating occurrence of chronic and infectious illnesses, and enhanced global healthcare accessibility. Licorice root, with its anti-inflammatory, antiviral, and antimicrobial attributes, is employed in the pharmaceutical sector and aids in the treatment of digestive complications, respiratory problems, and immune system reinforcement. For instance, it was reported by the Association of the British Pharmaceutical Industry, a US trade organization, that in December 2022, branded medicines would be required to rebate nearly £3.3 billion in sales revenue to the government, accounting for 26.5% of sales. This represents a remarkable upsurge from approximately £0.6 billion in 2021 and £1.8 billion in 2022. Consequently, the burgeoning demand in the pharmaceutical sector is stimulating the expansion of the licorice root market.

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Who Are the Dominant Companies Influencing Licorice Root Market Trends?
Major companies operating in the licorice root market are S.r Organic, Sarv Biolabs Pvt Ltd, Finzelberg GmbH & Co. KG, Maruzen Pharmaceuticals Co Ltd., American Licorice Company, Beloorbayir Biotech Ltd., Geo Fresh Organic Privated Limited, Nanjing Zelang Medical Technology Co. Ltd., jiangsu Tiansheng Pharmaceutical Co. Ltd., Mafco Worldwide LLC, Norevo GmbH, VPL Chemicals Pvt Ltd., Athos Lifesciences Pvt. Ltd., Bio-Gate AG, PharmaCompass, Ransom Naturals Ltd., ASEH Licorice MFG & Exp. Co, Rainbow Expochem Company, Windson Organic Pvt Ltd, F&C Licorice Ltd

How Is the Licorice Root Market Evolving?
Leading firms in the licorice root market are prioritizing the acquisition of genuine licorice root products to improve product uniqueness in a fiercely competitive environment and to offer distinct tastes and health advantages that coincide with current health and wellness trends. Genuine licorice root goods utilize real licorice root or its pure extracts, stick to age-old and natural production techniques, and adhere to high standards of quality, transparency, and health benefits. For instance, Lakrids by Bülow, a Denmark-based licorice root manufacturer, unveiled LAEMON- Mellow Yellow in July 2022. This product is crafted using top-grade, natural ingredients such as licorice root. LAEMON melds salty licorice with the invigorating taste of lemon, with the licorice core swathed in white chocolate, cream, and vanilla for an appealing blend of sweet, sour, and salty flavors.

What Are the Different Segmentations in the Licorice Root Market?
The licorice root market covered in this report is segmented -

1) By Product Type: Essential Oils, Liquid Malt Extract, Oleoresins, Herbs And Spices Dry Malt Extract, Malt Flour
2) By Product Form: Roots, Extracts
3) By Grade Type: Essential Standard Malt, Caramelized Malt, Roasted Malt
4) By Function Type: Performance Enhancers, Palatability Enhancers
5) By End User: Food And Beverage Industry, Tobacco Industry, Pharmaceutical Industry, Cosmetic Industry, Dietary Supplements

Subsegments:
1) By Essential Oils: Pure Licorice Essential Oil, Licorice Oil Blends
2) By Liquid Malt Extract: Light Liquid Malt Extract, Dark Liquid Malt Extract
3) By Oleoresins: Licorice Oleoresins for Flavoring, Licorice Oleoresins for Pharmaceuticals
4) By Herbs and Spices: Whole Licorice Root, Ground Licorice Root
5) By Dry Malt Extract: Light Dry Malt Extract, Dark Dry Malt Extract
6) By Malt Flour: Light Malt Flour, Dark Malt Flour

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Which Region Is at the Forefront of the Licorice Root Market?
North America was the largest region in the licorice root market in 2024. The regions covered in the licorice root market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Licorice Root Global Market Report?

- Market Size Analysis: Analyze the Licorice Root Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Licorice Root Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Licorice Root Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Licorice Root Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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