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Licorice Extract Market Witnesses Remarkable Growth, Poised to Reach USD 1.6 Billion by 2035 Amidst Soaring Demand for Natural Ingredients
Licorice Extract Market
Enhanced Market Demand: Discover Thorough Trends and Insights in Our Complete Report:https://www.futuremarketinsights.com/reports/licorice-extract-market
Driving Factors Behind the Market Surge
The increasing consumer inclination towards plant-based immunity boosters is a key propeller of this market expansion. Licorice, recognized for its natural adaptogenic and anti-inflammatory properties, is experiencing heightened demand. Its versatility extends to formulations for digestive health, skin health, and liver support, further broadening its market potential. The global push for clean-label, botanical ingredients in dietary products is specifically boosting the demand for both glycyrrhizin-rich and de-glycyrrhizinated licorice (DGL) variants.
Innovations in delivery formats, such as capsules, chewable tabletsand HPMC-based supplements, are enhancing consumer accessibility. Furthermore, manufacturers are increasingly focusing on high-purity extracts, standardized concentrations, and organic licorice sourcing to meet stringent global regulatory and quality standards.
Competitive Landscape and Market Concentration
The licorice extract industry is characterized by a moderate to high level of player concentration, featuring a blend of established leaders and agile regional firms. Tier 1 companies, including Naturex SA, Frutarom Industries Ltd. (a subsidiary of International Flavors & Fragrances Inc.), and Shaanxi Fujie Pharmaceutical Co., Ltd., command approximately 25% to 30% of the market share. Their dominance stems from extensive product portfolios, robust distribution networks, and substantial R&D investments.
Tier 2 players account for a significant 35% to 40%, while the remaining share is held by Tier 3 players. This dynamic environment fosters continuous innovation, adherence to stringent quality standards, and responsiveness to evolving consumer preferences for natural health products. Key players influencing the market include Sichuan Union Herb, Shaanxi Jiahe Phytochemicals, Zhejiang Kangling, Hebei Jingu, and Hunan Huakang.
The industry's value chain is comprehensive, starting with sourcing raw licorice from prime regions like China, Spain, and the Middle East, followed by processing into diverse product forms, and finally distribution across various channels, including pharmaceuticals, dietary supplements, cosmetics, and the food and beverage industries.
Key Market Segments and Applications
Liquid Licorice Extract Dominance
The liquid licorice extract segment is anticipated to be the leading form by 2025, capturing a significant 44.9% market share. Its higher concentration, ease of formulation, and rapid absorption make it highly preferred in pharmaceutical and industrial applications. It's widely utilized in cough syrups, herbal tonics, and skincare emulsions due to its excellent miscibility. Its flavor-enhancing properties also make it a favorite among food manufacturers for beverages and confectionery.
Immune Support Leading Functional Product Use
The immune support application is projected to account for 22.6% of the total market share by 2025. The growing interest in botanical solutions for strengthening the body's natural defenses drives this segment. Glycyrrhizin, the key bioactive compound in licorice, has demonstrated antiviral and anti-inflammatory properties, boosting its popularity in traditional and modern immune health formulations. The COVID-19 pandemic further accelerated the demand for immunity-based products, cementing licorice extract's role in teas, functional foods, and nutraceutical blends.
Regional Growth Hotspots
The Asia-Pacific region, particularly India, China, and Australia, is identified as a key growth region. India is projected to exhibit the highest CAGR of 11.5% through 2035, driven by expanding applications in Ayurvedic medicines and nutraceuticals. China follows with a robust 7.8% CAGR, fueled by its rich Traditional Chinese Medicine (TCM) heritage. Australia is set to grow at a rapid 8.4% CAGR, reflecting a growing preference for natural health solutions. The United States is also showing promising growth at a CAGR of 6.7%, driven by increasing consumer awareness of natural health supplements.
Recent Innovations and Industry Developments
The market is witnessing continuous innovation and strategic collaborations. In 2024, Norevo GmbH launched a Fair-Trade certified licorice extract line in Europe, emphasizing ethical sourcing. In 2023, Mafco Worldwide LLC introduced an organic licorice extract powder for North American pharmaceutical manufacturers, addressing the rising demand for clean-label, plant-derived ingredients. These developments underscore the industry's commitment to sustainability, quality, and consumer preferences.
Future Outlook
The licorice extract market is poised for sustained growth, propelled by increasing consumer awareness of its diverse health benefits, the burgeoning demand for natural ingredients in various industries, and ongoing technological advancements in extraction and formulation. As research continues to validate its therapeutic uses, licorice extract is set to play an increasingly significant role in the future of natural healthcare solutions globally.
Discover How Market Trends Are Shaping Industries: Access Your Sample Report:https://www.futuremarketinsights.com/reports/sample/rep-gb-3307
Key Segments of Report
By Application:
As per application, the industry has been categorized into Boost Energy, Brain Health, Colon Health, Digestive Health, Immune Support, Liver Support and Skin Health
By Form:
The segment is further categorized into Chewable Tablets, Capsules, Gelatin, HPMC, Chews, Powder and Liquid
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa
Explore FMI's related ongoing Coverage in Food and Beverage Domain
Licorice Extract Market Share Analysis:https://www.futuremarketinsights.com/reports/licorice-extract-market-share-analysis
UK Licorice Extract Market:https://www.futuremarketinsights.com/reports/united-kingdom-licorice-extract-market
Licorice Root Market:https://www.futuremarketinsights.com/reports/licorice-root-market
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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