IMARC Group, a leading market research company, has recently releases report titled “Licorice Extract Market Report by Product Type (Food Grade, Feed Grade, Pharmaceutical Grade), Form (Block, Powder, Paste, and Others), Application (Food and Beverages, Pharmaceutical, Tobacco, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the market.

How Big Is the Licorice Extract Market?

The global licorice extract market size reached US$ 2,070.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,175.7 Million by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.

Industry Overview of Licorice Extract

Licorice extract is a herbal material obtained from wild and organically grown Glycyrrhiza glabra roots. It has an aromatic and sweet flavor produced by boiling the pulp of licorice roots. Licorice extract is mainly available in the liquid, paste, block, and powdered forms. It exhibits various properties, such as anti-inflammatory, anticancer, antimicrobial, antioxidant, etc., that aid in treating acid reflux, digestive ailments, hot flashes, menopausal symptoms, heartburn, bacterial and viral infections, etc. Licorice extract also assists in treating hepatitis C, peptic ulcers, preventing cavities, improving blood sugar levels, and promoting weight loss. As a result, it finds extensive utilization across several sectors, including pharmaceutical, cosmetics, tobacco, food and beverage (FB), etc.

What are the growth prospects and trends in the licorice extract industry?

The escalating product demand as a natural sweetener in chewing gums, cake batters, and custards and as a flavor enhancer in meat rubs is primarily driving the licorice extract market.

Besides this, the elevating requirement for this material in the pharmaceutical sector to manufacture medicines for toothache, asthma, fever, indigestion, bronchitis, skin infections, etc., is further augmenting the market growth. Apart from this, the introduction of organic licorice extracts, on account of the rising consumer health concerns, is also catalyzing the global market.

Moreover, the growing product popularity in the cosmetic sector as a natural skin brightener is acting as another significant growth-inducing factor. Furthermore, the rising usage of this herbal material in the tobacco sector as a de-bittering agent is expected to propel the licorice extract market in the coming years. 

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/licorice-extract-market/requestsample

Leading Companies Operating in the Global Licorice Extract Industry:

  • Alfarid Corporation Limited
  • AOS Products Pvt. Ltd.
  • Avestia Pharma
  • C.E. Roeper GmbH
  • FC Licorice Ltd.
  • Herbochem
  • Hyundai Bioland
  • Mafco Worldwide LLC
  • Maruzen Pharmaceuticals Co. Ltd.
  • Norevo GmbH
  • Shaanxi FUJIE Pharmaceutical Co. Ltd.
  • VPL Chemicals Pvt Ltd.

Licorice Extract Market Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product Type:

  • Food Grade
  • Feed Grade
  • Pharmaceutical Grade

Breakup by Form:

  • Block
  • Powder
  • Paste
  • Others

Breakup by Application:

  • Food and Beverages
  • Pharmaceutical
  • Tobacco
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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