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Global Licorice Extract Market Size, Share, Growth, and Forecast 2030

Global Licorice Extract Market

The licorice extract market is predicted to be worth USD 1.8 billion in 2021 and USD 2.7 billion by 2030, with a compound annual growth rate (CAGR) of 4.8% between 2022 and 2030.

The study explores the global licorice extract market’s drivers, restraints/challenges, and the influence they will have on demand over the forecast period. Furthermore, the paper investigates fresh potential in the licorice extract market.

Licorice Extract Market: Overview

Licorice extract is a herbal extract made from the roots of the plant Glycyrrhiza glabra, which grows wild and spontaneously. It is created by boiling licorice root pulp and has a sweet and fragrant flavour. It comes in paste, liquid, block, and powdered forms and is commonly used as a natural sweetener and flavouring in confections, beverages, and pharmaceuticals. Because of its anti-inflammatory, anticancer, antibacterial, and antioxidant characteristics, they can be used to treat hot flashes, acid reflux, digestive difficulties, menopausal symptoms, heartburn, and bacterial and viral infections. Hepatitis C, peptic ulcers, cavities, blood sugar control, and weight loss can all benefit from licorice extract. As a result, it has numerous uses in a variety of industries.

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Licorice Extract Market: Growth Drivers

The roots of the Glycyrrhiza glabra plant, which grows naturally and in the wild, are used to make licorice extract. It is created by boiling licorice root pulp and has a sweet and fragrant flavour. It is available as a paste, liquid, block, or powdered form and is utilised as a natural sweetener and flavouring in confections, beverages, and pharmaceuticals.

Because of its anti-inflammatory, anticancer, antibacterial, and antioxidant characteristics, they can be used to treat hot flashes, acid reflux, digestive difficulties, menopausal symptoms, heartburn, and bacterial and viral infections. Licorice extract can help with Hepatitis C, gastric ulcers, cavities, blood sugar regulation, and weight loss. As a result, it has a wide range of applications, notably in medicines.

Licorice Extract Market: Segmentation

The global market for licorice extract is classified into four segments: type, form, application, and geography.

On the global market, there are three varieties of food grade, feed grade, and pharmaceutical grade. Pharmaceutical grade had the biggest revenue share in 2021, and this is likely to continue throughout the projection period. Licorice extract of pharmaceutical grade is widely found in pharmaceuticals, cough syrup, lotions, and cosmetics. It is beneficial for indigestion, acid reflux, and sore throats. Licorice extract is utilised in the pharmaceutical business as a liquid and powder ingredient in tablets, lotions, ointments, syrups, and cosmetics. Licorice extract is used to treat eczema and acne in creams and cosmetics. As a result, segmental growth picks up.

Licorice extract is classified into three types: liquid, block, and powder. In 2021, the powder segment held the largest market share, and this trend is expected to continue throughout the forecast period. Licorice extract powder is made by spray drying licorice extract until it becomes a fine powder.

Typically, the liquid is extremely thick and viscous, with a viscosity comparable to paste. A liquid extract is the most common. The food and beverage industries rely the most on liquid extraction. Licorice candy is a popular delicacy in many parts of Europe and America. They can be used to make tea and root beer, among other things.

Licorice Extract Market: Competitive Analysis

The global licorice extract market is dominated by players like

NOREVO
FC Liquorice
Iranlicorice.com
Zagros Liquorice co.
VPL Chemicals
MAFCO Worldwide LLC
RANSOM NATURALS LTD
Aushadhi Herbal
Aseh Co.
Green Wave Ingredients Inc.
Sanat Products LTD.
Maruzen Pharmaceutical Co. Ltd.
Alfarid Corporation Limited
Avestia Pharma
Nutra Green Biotechnology Co. Ltd.
Mafco Worldwide LLC
Mitsubishi Corporation Life Sciences Limited.
HYUNDAI BIOLAND

The global licorice extract market is segmented as follows:

By Type

Feed Grade
Pharmaceutical Grade
By Form
Liquid
Block
Powder

By Application

Food Beverages
Tobacco Products
Cosmetics Personal Care
Pharmaceuticals
Others

By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East Africa
GCC
South Africa
Rest of Middle East Africa

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