Licorice Extracts Market: By Grade (Food Grade, Pharmaceutical Grade, Feed Grade), By Form (Liquid, Powder), By Disease Indication (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Pulmonary Arterial Hypertension, Others), By Application (Food and Beverage, Pharmaceutical, Cosmetics, Others), and By Geography

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The Licorice Extracts Market size was valued at USD 1,722.9 Mn in 2022, growing at a CAGR of 6.2% during the forecast period 2023-2029. Licorice is the root of glycyrrhiza glabra. The licorice extracts are used as herbal medicine due to their medicinal properties. The licorice extracts are also used as sweeteners and flavoring agents in the food and beverage industry. In June 2017, Fini Sweets has launched black licorice, it's premium licorice. Industry trends in the market are evolving, which will aid players in developing successful long-term strategies. Both established and emerging markets have implemented business growth techniques.  The research report contains the COVID-19 in light of changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, market dynamics, and government involvement. The revised report considers the influence of COVID-19 on the market and includes insights, analysis, projections, and predictions. 

Licorice Extracts Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.2%

Largest Market

Europe

Fastest Growing Market

As
Licorice Extracts Market Dynamics

Increase in the health consciousness among the people coupled with surge in the preference of consumers for organic products is expected to witness the growth of the market. The mounting use of licorice extract in various applications such as pharmaceutical industry, feed industry, and food and beverage industries are anticipated to increase the demand for global licorice market. The rising prevalence of various disorders such as diabetes and obesity is adding a scope for the further growth of the market. The surge in research and development activities are expected to provide lucrative opportunities for the manufacturers. However, the lack of availability and increase in the cost of raw materials are expected to hamper the growth of the licorice extracts market.

Key Features of the Reports

  • The licorice extracts market report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Licorice Extracts Market Segmentation

By Grade
  • Food Grade
  • Pharmaceutical Grade
  • Feed Grade
By Form
  • Liquid
  • Powder
By Application
  • Food and Beverage
  • Pharmaceutical
  • Cosmetics
  • Others

Frequently Asked Questions

The Licorice Extracts Market size was valued at USD 1,722.9 million in 2022

The Licorice Extracts Market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

Asia Pacific is the fastest-growing for Licorice Extracts Market

1.Executive Summary
2.Global Licorice Extracts Market Introduction 
2.1.Global Licorice Extracts Market  - Taxonomy
2.2.Global Licorice Extracts Market  - Definitions
2.2.1.Grade
2.2.2.Form
2.2.3.Application
2.2.4.Region
3.Global Licorice Extracts Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Licorice Extracts Market Analysis, 2018-2022 and Forecast 2023-2029
4.1.  Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Licorice Extracts Market By Grade, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
5.1. Food Grade
5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Pharmaceutical Grade
5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Feed Grade
5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Licorice Extracts Market By Form, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
6.1. Liquid
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Powder
6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7.Global Licorice Extracts Market By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
7.1. Food and Beverage
7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Pharmaceutical
7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Cosmetics
7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Others
7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
8.Global Licorice Extracts Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Licorice Extracts Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
9.1. Grade Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Food Grade
9.1.2.Pharmaceutical Grade
9.1.3.Feed Grade
9.2.  Form Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Liquid
9.2.2.Powder
9.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Food and Beverage
9.3.2.Pharmaceutical
9.3.3.Cosmetics
9.3.4.Others
9.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Licorice Extracts Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
10.1. Grade Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Food Grade
10.1.2.Pharmaceutical Grade
10.1.3.Feed Grade
10.2.  Form Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Liquid
10.2.2.Powder
10.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Food and Beverage
10.3.2.Pharmaceutical
10.3.3.Cosmetics
10.3.4.Others
10.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11.Asia Pacific (APAC) Licorice Extracts Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
11.1. Grade Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Food Grade
11.1.2.Pharmaceutical Grade
11.1.3.Feed Grade
11.2.  Form Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Liquid
11.2.2.Powder
11.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Food and Beverage
11.3.2.Pharmaceutical
11.3.3.Cosmetics
11.3.4.Others
11.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Licorice Extracts Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
12.1. Grade Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Food Grade
12.1.2.Pharmaceutical Grade
12.1.3.Feed Grade
12.2.  Form Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Liquid
12.2.2.Powder
12.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Food and Beverage
12.3.2.Pharmaceutical
12.3.3.Cosmetics
12.3.4.Others
12.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Licorice Extracts Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
13.1. Grade Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Food Grade
13.1.2.Pharmaceutical Grade
13.1.3.Feed Grade
13.2.  Form Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Liquid
13.2.2.Powder
13.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Food and Beverage
13.3.2.Pharmaceutical
13.3.3.Cosmetics
13.3.4.Others
13.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Alfarid Corporation (Pakistan)
14.2.2.SepidanOsareh Co (Iran)
14.2.3.Maruzen Pharmaceuticals Co. Ltd (Japan)
14.2.4.Nutra Green (China)
14.2.5.Mafco Worldwide LLC (U.S)
14.2.6.Norevo GmbH (Germany)
14.2.7.ASEH Licorice MFG & Exp. Co (Iran)
14.2.8.F&C Licorice Ltd (Israel)
14.2.9.Zelang Group (China)
14.2.10.Aushadhi Herba (India)
14.2.11.VPL Chemicals PVT Ltd (India)
14.2.12.Ransom Naturals Ltd (UK)
15. Research Methodology 
16. Appendix and Abbreviations

 

  • Alfarid Corporation (Pakistan)
  • SepidanOsareh Co (Iran)
  • Maruzen Pharmaceuticals Co. Ltd (Japan)
  • Nutra Green (China)
  • Mafco Worldwide LLC (U.S)
  • Norevo GmbH (Germany)
  • ASEH Licorice MFG & Exp. Co (Iran)
  • F&C Licorice Ltd (Israel)
  • Zelang Group (China)
  • Aushadhi Herba (India)
  • VPL Chemicals PVT Ltd (India)
  • Ransom Naturals Ltd (UK)

Adjacent Markets