Licorice Root Market Report 2026

The licorice root market size has grown strongly in recent years. It will grow from $3.24 billion in 2025 to $3.48 billion in 2026 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to traditional use in medicinal preparations, expansion of herbal medicine markets, growth of pharmaceutical ingredient sourcing, rising awareness of digestive health, availability of licorice cultivation regions.

The licorice root market size is expected to see strong growth in the next few years. It will grow to $4.5 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing demand from nutraceuticals sector, expansion of clean-label food formulations, rising use in pharmaceutical research, growing cosmetic applications, increasing focus on sustainable herb sourcing. Major trends in the forecast period include increasing use of licorice in herbal remedies, rising demand for natural sweeteners, expansion of licorice extract applications, growing preference for plant-based ingredients, enhanced focus on standardized extract quality.

Growing demand in the pharmaceutical industry is expected to propel the growth of the licorice root market going forward. The pharmaceutical industry includes companies engaged in the research, development, production, and distribution of drugs and medications. Demand within this industry is rising due to factors such as an aging population, the increasing prevalence of chronic and infectious diseases, and improved global access to healthcare. Licorice root is widely used in pharmaceuticals for its anti-inflammatory, antiviral, and antimicrobial properties, supporting treatments for digestive disorders, respiratory conditions, and immune health formulations. For instance, in July 2025, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based industry association, the global prescription pharmaceutical market reached $1.52 trillion in 2024, reflecting growth compared to 2023. Therefore, growing demand in the pharmaceutical industry is driving the growth of the licorice root market.

Major companies operating in the licorice root market are focusing on developing innovative solutions, such as premium licorice confectionery collections, to meet rising demand for natural, plant-based flavoring and functional ingredients across snacks and wellness products. Premium licorice collections typically incorporate high-quality licorice root extracts blended with complementary flavors, offering a refined alternative to traditional sugar-heavy licorice products. For example, in June 2024, Bülow, a Denmark-based confectionery company, launched the 2024 Lakrids by Bülow Summer Collection, featuring licorice made with natural licorice root extract combined with tropical fruits and delicate spices. These products deliver a balanced flavor profile that merges traditional licorice characteristics with modern taste innovations while maintaining a premium, artisanal appeal suitable for gourmet snacking and gifting.

In June 2023, Theo Chocolate, a Seattle-based chocolate company in the United States, announced its merger with American Licorice Company. This strategic partnership allows Theo Chocolate to address rising costs and operational challenges while continuing its commitment to delivering high-quality organic chocolate. American Licorice Company, known for manufacturing licorice root products, brings valuable expertise to the merger.

Major companies operating in the licorice root market are S.r Organic, Sarv Biolabs Pvt Ltd, Finzelberg GmbH & Co. KG, Maruzen Pharmaceuticals Co. Ltd., Beloorbayir Biotech Ltd., Geo Fresh Organic Pvt Ltd, Nanjing Zelang Medical Technology Co. Ltd., Jiangsu Tiansheng Pharmaceutical Co. Ltd., Mafco Worldwide LLC, Norevo GmbH, VPL Chemicals Pvt Ltd, Athos Lifesciences Pvt. Ltd., Ransom Naturals Ltd., ASEH Licorice MFG & Exp. Co, Rainbow Expochem Company, Windson Organic Pvt Ltd, F&C Licorice Ltd, Norevo Licorice Extracts, Naturex (Givaudan Active Botanicals), Martin Bauer Group, Shaanxi Sciphar Natural Products Co Ltd, Xi’an Natural Field Bio-Technique Co Ltd.

North America was the largest region in the licorice root market in 2025. The regions covered in the licorice root market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the licorice root market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The licorice root market consists of the sales of glycyrrhiza glabra, glycyrrhiza uralensis, and glycyrrhiza inflata. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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