Licorice Extracts - Global Strategic Business Report

The global market for Licorice Extracts was estimated at US$2.0 Billion in 2023 and is projected to reach US$2.4 Billion by 2030, growing at a CAGR of 2.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Licorice Extracts Market - Key Trends & Drivers Summarized

Why Are Licorice Extracts Rising in Popularity?

Licorice extracts, derived from the roots of the Glycyrrhiza plant, have become increasingly popular in various industries, particularly for their therapeutic properties and applications in food, pharmaceuticals, and cosmetics. Known for their anti-inflammatory, antioxidant, and antimicrobial properties, licorice extracts have long been used in traditional medicine to treat ailments like sore throats, digestive issues, and skin conditions. As consumer interest in natural, plant-based ingredients continues to grow, licorice extracts are being integrated into an expanding range of products, from natural sweeteners to skincare formulations.

What Are the Innovations in Licorice Extract Production and Applications?

The production of licorice extracts has evolved, with innovations aimed at enhancing extract purity, potency, and sustainability. Advanced extraction techniques, including supercritical CO2 and ultrasonic extraction, have improved the yield and quality of active compounds like glycyrrhizin and flavonoids in licorice extracts. These innovations have made it possible to tailor extracts for specific uses, such as glycyrrhizin-enriched extracts for antiviral applications or flavonoid-rich extracts for anti-inflammatory purposes. Additionally, the use of licorice in functional foods and beverages is expanding, as manufacturers seek to develop products that appeal to health-conscious consumers.

How Are Different Industries Utilizing Licorice Extracts?

Licorice extracts are widely used in the pharmaceutical, food and beverage, and personal care industries. In pharmaceuticals, licorice is valued for its soothing and anti-inflammatory effects, making it an ingredient in treatments for respiratory and digestive disorders. The food and beverage industry uses it as a natural sweetener and flavoring agent, particularly in herbal teas and confectioneries. Meanwhile, in the cosmetics industry, licorice extracts are included in skin-brightening products due to their gentle yet effective melanin-inhibiting properties, appealing to consumers seeking natural solutions for hyperpigmentation and skin aging.

The Growth in the Licorice Extracts Market Is Driven by Several Factors

The growth in the licorice extracts market is driven by several factors, including rising demand for natural ingredients, health-conscious consumer behavior, and expanding applications across industries. Increased interest in herbal medicine and functional foods has amplified demand for licorice extracts in therapeutic and wellness-oriented products. Furthermore, regulatory approval for the safe use of licorice derivatives in food and cosmetics has boosted its adoption. Additionally, the increasing trend of using plant-based ingredients in cosmetics and personal care aligns with consumer preference for sustainable and clean-label products. These drivers position licorice extracts as a versatile ingredient with promising growth potential.

Scope of the Study

The report analyzes the Licorice Extracts market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Application (Pharmaceutical, Tobacco, Food and Beverage); Type (Pharmaceutical Grade, Food Grade, Feed Grade)

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Pharmaceutical Grade Licorice Extracts segment, which is expected to reach US$860.4 Million by 2030 with a CAGR of a 3.3%. The Food Grade Licorice Extracts segment is also set to grow at 2.7% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $529.4 Million in 2023, and China, forecasted to grow at an impressive 5.0% CAGR to reach $523.8 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Licorice Extracts Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Licorice Extracts Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Licorice Extracts Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Global Licorice Extracts Market such as F&C Licorice Ltd., MAFCO Worldwide LLC, Maruzen Petrochemical Co., Ltd., Norevo GmbH, Ransom Naturals Ltd. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 58 companies featured in this Global Licorice Extracts Market report include:

• F&C Licorice Ltd.
• MAFCO Worldwide LLC
• Maruzen Petrochemical Co., Ltd.
• Norevo GmbH
• Ransom Naturals Ltd.
• Sepidan Osareh Co.
• VPL Chemicals Pvt Ltd
• Zagros Licorice co.
• Zelang Group (America Branch) Inc.