Pharmaceutical Industry Demand Drives Growth Of The Licorice Root Market : Strategic Insights Driving Licorice Root Market Momentum in 2025

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How Large Will the Licorice Root Market Size By 2025?
The market for licorice root has experienced robust growth in the past few years. It is projected to increase from $3.04 billion in 2024 to $3.28 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. The historical growth can be ascribed to factors such as a growing preference for healthy tea among consumers, a rise in application of licorice root in the food and beverage industry, its augmented use in traditional medicinal systems, its popularity as a component in the sweets industry, and the demand for it in pharmaceutical concoctions.

How Big Is the Licorice Root Market Size Expected to Grow by 2029?
Expectations are high for a significant increase in the licorice root market size over the next few years. By 2029, it is anticipated to reach $4.39 billion, with a compound annual growth rate (CAGR) of 7.6%. Several factors contribute to this expected growth during the forecast period, including the rising use of licorice root as a natural sweetener in food and beverage products, an upswing in health and wellness trends, the expanding nutraceutical industry, its increased use in skincare and cosmetic products, and an enhanced emphasis on sustainable and ethically sourced materials. Key trends to watch in the forecast period include improvements in extraction technology, introduction of innovative root beer flavors, developments in herbal supplements, increased licorice root adoption due to research and development, and product formulation innovations.

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Which Key Market Drivers Powering Licorice Root Market Expansion and Growth?
The rise in requisition within the pharmaceutical sector is projected to bolster the expansion of the licorice root market. The pharmaceutical sector encompasses corporations and institutions that carry out the investigation, creation, manufacturing, and dispensation of drugs. The escalation in demand within this sector is attributed to elements such as the maturing populace, rising incidence of persistent and contagious illnesses, and superior worldwide healthcare access. Pharmaceutical applications utilize licorice root for its anti-inflammatory, antiviral, and antimicrobial characteristics, thus facilitating treatments for digestive maladies, respiratory disorders, and formulations supporting immunity. For example, in December 2022, according to the Association of the British Pharmaceutical Industry, a US-based trade group, branded pharmaceuticals will be obligated to revert nearly £3.3 billion sales revenue to the government, representative of 26.5% of sales. This denotes a notable augmentation from roughly £0.6 billion in 2021 and £1.8 billion in 2022. Hence, the ascending requisition in the pharmaceutical sector is stimulating the expansion of the licorice root market.

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Which Fast-Growing Trends Are Poised to Disrupt the Licorice Root Market?
Some of the key businesses in the licorice root market are concentrating on acquiring genuine licorice root items to create a competitive distinction and offer unique flavors and health advantages in line with contemporary wellness trends. Authentic licorice root items strictly adhere to the use of actual licorice root or its pure extracts, respect traditional and natural processing methods as well as maintaining high levels of quality, transparency, and health benefits. For instance, Lakrids by Bülow, a company based in Denmark that produces licorice root, debuted LAEMON- Mellow Yellow in July 2022. These are produced with superior natural ingredients, including licorice root. The LAEMON product marries the salty licorice with a refreshing lemon flavor. Its licorice core is lathered in white chocolate, cream, and vanilla to construct a perfect harmony of sweetness, sourness, and saltiness.

What Are the Emerging Segments 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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Who Are the Global Leaders in the Licorice Root Market?
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

Which are the Top Profitable Regional Markets for the Licorice Root Industry?
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.

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