Liquorice Extract Market, Global Outlook and Forecast 2025-2032

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The global liquorice extract market was valued at USD 512 million in 2023 and is projected to grow steadily, reaching USD 894.84 million by 2032. This growth reflects a Compound Annual Growth Rate (CAGR) of 6.40% over the forecast period.

The rising preference for natural and herbal ingredients across food, pharmaceutical, and cosmetic applications is driving this expansion. Increased awareness of the side effects associated with synthetic additives has led consumers and manufacturers alike to seek out botanical alternatives such as liquorice extract.

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What is Liquorice Extract?
Liquorice extract is a concentrated substance derived from the Glycyrrhiza glabra root. Known for its naturally sweet flavor and health benefits, it has been used for centuries in traditional medicine systems such as Ayurveda and Traditional Chinese Medicine.

The extract contains glycyrrhizin, a powerful compound with anti-inflammatory, antioxidant, and antimicrobial properties, making it a valuable ingredient in a variety of industries:

Food & Beverages: Used in confectionery, teas, and beverages for flavor enhancement.

Pharmaceuticals: Applied in treatments for sore throat, ulcers, and respiratory conditions.

Cosmetics: Valued for its skin-soothing, brightening, and anti-aging benefits.

Tobacco: Used to improve flavor.

Liquorice Extract Market Trends and Dynamics
Key Growth Drivers
Rising demand for natural products: A significant shift toward clean-label and herbal formulations in food, beauty, and health industries.

Expansion of the nutraceutical sector: Increased use in health supplements and OTC medications.

Global revival of traditional medicine: Growing popularity of Ayurvedic and holistic treatments.

Supportive regulations: Approvals from regulatory authorities and scientific validation of health benefits.

Market Restraints
Health concerns from overuse: Excessive intake of glycyrrhizin can cause side effects like high blood pressure and electrolyte imbalance.

Raw material pricing volatility: Supply of liquorice roots is subject to climatic and geopolitical influences.

Strict quality standards: Regulatory requirements in pharmaceuticals and food can limit new market entrants.

Opportunities Ahead
Growth in natural cosmetics: Increased use in skincare for its anti-inflammatory and brightening effects.

Functional beverages: Rising popularity of herbal teas and wellness drinks.

Sustainable sourcing: Demand for eco-friendly and ethically farmed ingredients is increasing.

Market Challenges
Global supply chain disruptions: Transportation and logistics issues may impact availability.

Low awareness in some markets: Underutilization of liquorice extract due to lack of consumer knowledge.

Competition from alternatives: Synthetic ingredients may be preferred in cost-sensitive applications.

Liquorice Extract Market by Region
Asia-Pacific
This region dominates the global market, with China, India, and Japan leading in production and consumption. China's traditional medicine industry and India's Ayurvedic segment are key drivers.

Europe
The second-largest market, led by Germany, France, and the UK, thanks to a strong demand for organic and natural ingredients, especially in confectionery.

North America
Experiencing fast growth due to rising interest in health and wellness. The U.S. market is fueled by the trend toward organic skincare and natural remedies.

Middle East & Africa
Though smaller, this region is showing potential due to historical use and rising awareness of liquorice extract's benefits.

Latin America
Countries like Brazil and Mexico are showing gradual uptake, driven by a growing food and beverage industry and the appeal of botanical ingredients.

Market Segmentation
By Application
Pharmaceuticals

Food & Beverages

Cosmetics

Animal Feed

Others

By Product Type
Pharmaceutical Grade

Food Grade

Feed Grade

Key Players in the Liquorice Extract Market
Several companies are investing in product innovation, sustainable sourcing, and market expansion to remain competitive. Notable players include:

Norevo GmbH – Germany-based supplier of natural raw materials.

F&C Licorice Ltd. – Global supplier of raw and processed liquorice.

ASEH – Iran-based leader in blocks and powder extract.

Magnasweet – U.S. firm specializing in flavor enhancement and masking.

Zagros Licorice Co. – A major exporter from the Middle East.

Comprehensive Market Analysis
This report offers a complete overview of the global liquorice extract market, including market size, trends, challenges, SWOT analysis, and competitive landscape. It serves as a strategic resource for:

Industry professionals

Investors and consultants

Researchers and business strategists

Companies exploring entry into the liquorice market

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Frequently Asked Questions (FAQs)
1. What is the current size of the liquorice extract market?
The market was valued at USD 512 million in 2023 and is projected to reach USD 894.84 million by 2032, growing at a CAGR of 6.40%.

2. Who are the key players in the market?
Major companies include Norevo GmbH, F&C Licorice Ltd., ASEH, Magnasweet, and Zagros Licorice Co.

3. What are the main growth drivers?
Increased demand for natural ingredients, growth in nutraceuticals, and rising cosmetic applications.

4. Which regions lead the market?
Asia-Pacific leads, followed by Europe and North America.

5. What are the emerging trends?
Trends include natural skincare, functional beverages, and a growing focus on sustainable sourcing.

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