Licorice Extract Market Unlocks New Business Opportunities and Revenue Growth Potential Through 2032

Market Overview and Research Scope -

QY Research Inc., A global market research and consulting firm, has announced the release of its latest 2026 report titled "Licorice Extract - Global Market Share and Ranking, Overall Sales and Demand Forecast 2026-2032." The report provides a data-driven analysis of the global Licorice Extract market, integrating historical insights from 2020-2025 with forward-looking forecasts through 2032. It covers market size, competitive landscape, demand trends, and industry development, offering strategic insights for stakeholders navigating this rapidly evolving sector.

The global Licorice Extract market was valued at US$ 567 million in 2025 and is anticipated to reach US$ 896 million by 2032, witnessing a CAGR of 6.9% during the forecast period 2026-2032.

The report analyzes historical market performance alongside detailed forecasts, offering clarity on competitive intensity, growth catalysts, structural challenges, and emerging trends. With extensive coverage of market segmentation, regional developments, and leading company profiles, the study serves as a dependable strategic reference for organizations seeking to strengthen their position in the global Licorice Extract market.

Get Full PDF Sample Copy of the Report: (Including Full TOC, Tables & Charts): https://qyresearch.in/request-sample/chemical-material-global-licorice-extract-market-insights-industry-share-sales-projections-and-demand-outlook-2026-2032

In 2024, global sales of licorice extract reached 27,199 tons, with an average selling price of US$22,235 per ton.

Licorice extract comes from the licorice plant. The root of the plant is primarily used in preparing the extract, and the hard woody plant is pulped then boiled to further extract and refine the contents. Licorice extract is a natural ingredient often found in both food and herbal medicine supplements. While the full medicinal effectiveness of licorice has not been completely tested, some benefits have been proven and others have enough support to warrant its inclusion in a number of supplements. Often found in teas and used in a number of different products as a flavoring ingredient, licorice extract can provide help in treating stomach issues such as heartburn, but does have some noteworthy side effects that should be considered.

Major global manufacturers of licorice extract include Norevo GmbH, Mafco Worldwide, Gansu Fanzhi Pharmaceutical, Hongyufeng Bio-Technolog, F&C Licorice, Ransom Naturals, Qinghai Blicsweet Licorice Technology, and Xinjiang Long Hui Yuan Pharmaceutical. The top five manufacturers globally account for approximately 37% of the market share. Currently, China is the world's largest market, accounting for approximately 40% of the market share.

Licorice extract is made from the dried roots and rhizomes of leguminous plants such as *Glycyrrhiza uralensis*, *Glycyrrhiza inflata*, and *Glycyrrhiza glabra*. In 2023, the planting area in China reached approximately 450,000 hectares, with over 80% concentrated in arid and semi-arid regions such as Inner Mongolia, Gansu, and Xinjiang. The raw material purchase price is approximately 15 yuan/kg, fluctuating significantly due to weather and market demand. In its cost structure, raw materials account for the largest share (approximately 50%-60%), followed by energy and solvent consumption (around 20%), while labor, equipment depreciation, and environmental treatment together account for 20%-30%. If high-efficiency processes such as ultrasonic-microwave synergy or supercritical CO2 are adopted, energy consumption can be reduced by more than 30%, but the initial equipment investment is significant.

What Is the Licorice Extract Market?

The Licorice Extract Market covers the global production and use of extracts derived from the roots of the licorice plant (Glycyrrhiza glabra and related species). Licorice extract is widely used for its natural sweetening, flavoring, and functional properties across industries such as food & beverages, pharmaceuticals, nutraceuticals, cosmetics, and tobacco.

Licorice extract is available in various forms, including powder, liquid, paste, and block, and contains key bioactive compounds such as glycyrrhizin, flavonoids, and polyphenols, which contribute to its functional and therapeutic characteristics.

Why the Licorice Extract Market Is Important?

The importance of the licorice extract market is driven by growing demand for natural ingredients and plant-based solutions across consumer and healthcare products. In the food and beverage industry, licorice extract is valued as a natural sweetener and flavor enhancer, particularly in confectionery, beverages, and herbal formulations.

In pharmaceuticals and nutraceuticals, licorice extract is widely used for its digestive, anti-inflammatory, antimicrobial, and immune-support properties, supporting its inclusion in traditional medicines, dietary supplements, and herbal remedies. The cosmetics and personal care industry also uses licorice extract for its skin-soothing, anti-aging, and brightening properties.

Additionally, increasing consumer awareness around clean-label, botanical, and functional ingredients is reinforcing the role of licorice extract as a versatile natural component in multiple applications.

How the Licorice Extract Market Is Evolving?

The licorice extract market is evolving through product standardization, application diversification, and sustainability-focused sourcing practices. Manufacturers are placing greater emphasis on consistent quality, controlled glycyrrhizin content, and compliance with regulatory standards, especially for pharmaceutical and nutraceutical applications.

There is also growing demand for deglycyrrhizinated licorice (DGL) products, particularly in health and wellness segments, to address safety considerations while retaining functional benefits. Innovations in extraction technologies are improving purity, yield, and bioactive retention, enabling broader application development.

From a regional perspective, production remains concentrated in Asia and the Middle East, where licorice roots are cultivated, while consumption continues to expand globally, supported by growth in herbal medicine, functional foods, and natural cosmetics markets.

Competitive Landscape Analysis -

The report provides an in-depth evaluation of the competitive environment within the global Licorice Extract market, focusing on recent developments, expansion strategies, and long-term growth initiatives adopted by key market participants. It profiles nearly all major companies operating in the industry and examines critical business parameters such as production capacity, geographic footprint, product offerings, and strategic direction.

Each company is assessed using key performance indicators including market share, growth rate, revenue, production volume, earnings, and overall company scale. This competitive benchmarking enables stakeholders to understand relative market positioning, identify strategic gaps, and uncover opportunities for differentiation and expansion.

Magnasweet
ASEH
Zagros Licorice
Sepidan Osareh
FandC Licorice
Norevo GmbH
Ransom Naturals
Maruzen Pharmaceuticals
MCFS
Aushadhi Herbal
Avestia Pharma
VPL Chemicals
Zelang
Changyue
Bokai

Market Segmentation -

By Type

Pharmaceutical Grade
Food Grade
Feed Grade

By Application

Pharmaceutical
Food
Cosmetic
Others

The report provides valuable insights into the key segments of the global Licorice Extract market, with a strong focus on CAGR, market size, market share, and future growth potential. The market is comprehensively segmented by product type, application, and region, with each segment thoroughly analyzed to identify growth prospects, demand patterns, and emerging trends. This detailed segmental analysis plays a crucial role in uncovering high-growth and high-return opportunities across the market. By offering precise data on product- and application-level demand, the report enables businesses to prioritize profitable segments and develop targeted strategies within the global Licorice Extract market.

Regional Insights -

This research study covers key geographic regions including North America, Europe, Asia Pacific, Central and South America, and the Middle East & Africa. The analysis includes regional growth opportunity mapping and comprehensive SWOT assessments, considering political and legal, economic, and technological factors. Readers are provided with regional and country-level sales and revenue forecasts for the period starting in 2026. Additionally, this section presents key regional sales statistics segmented by type and application through 2032.

Why Purchase This Report?

This report delivers a comprehensive, evidence-based overview of the Licorice Extract market to support informed strategic planning and investment decisions. It includes free customization options, such as country-level analysis for up to five selected countries and a detailed segment-wise competitive revenue assessment of leading players.

By offering deep insights into market trends, growth drivers, challenges, competitive dynamics, and emerging opportunities, the report equips manufacturers, investors, and decision-makers with actionable intelligence to identify high-growth segments, optimize operations, and maintain a sustainable competitive advantage.

Recent Industry Developments -

The study highlights recent strategic activities undertaken by major players in the global Licorice Extract market. It covers mergers and acquisitions, partnerships, joint ventures, product launches, technological innovations, and ongoing research and development initiatives. This analysis provides a clear view of how leading companies are strengthening their market presence, accelerating innovation, and responding to evolving industry demands.

Key Benefits for Stakeholders -

✔ Enables executives, policymakers, product managers, and sales leaders to make informed strategic decisions

✔ Provides global, regional, and country-level revenue analysis to assess market share and identify new growth markets

✔ Offers detailed segmentation by type, application, technology, and end-use to support product and financial planning

✔ Helps investors evaluate market scope, risks, and expansion opportunities

✔ Supports competitive benchmarking through in-depth analysis of key players and their strategies

Key Questions Addressed in the Report -

✯ What is the overall market size and projected growth rate across global and regional segments?

✯ How does the market size and growth outlook vary across major countries?

✯ Which region or market sub-segment is anticipated to dominate growth during the forecast period?

✯ What are the primary factors expected to drive market expansion, and what challenges may restrain growth?

✯ Which emerging technologies and market trends are shaping the future landscape?

✯ What are the most significant opportunities available in the market?

✯ Who are the leading manufacturers actively participating in the global market?

✯ Which company currently holds the largest share of the market?

✯ What are the potential growth avenues for new entrants in the global market?

Benefits of purchasing QYResearch report:

Competitive Analysis:

QYResearch provides in-depth Licorice Extract analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis:

QYResearch provides Licorice Extract comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size:

QYResearch provides Licorice Extract market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.

Request for Pre-Order / Enquiry Link: https://qyresearch.in/pre-order-inquiry/chemical-material-global-licorice-extract-market-insights-industry-share-sales-projections-and-demand-outlook-2026-2032

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Licorice Extract manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Sales, revenue of Licorice Extract in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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