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 obtained from the dried roots of Glycyrrhiza glabra plant. It has anti-cancer, anti-inflammatory, antioxidant, and antimicrobial properties, which help reduce inflammation, and kill harmful microbes. It aids in improving blood sugar levels, preventing cavities, and promoting weight loss. It is utilized in formulating medicine for heartburn, mouth sores, skin infections, and bacterial and viral infections. It is also used in preparing dietary supplements to cure various health conditions, such as digestive problems, menopausal symptoms, cough, and infections. Besides this, licorice extract is extensively used in personal care, cosmetics, and food and beverage products.

For an in-depth analysis, you can refer sample copy of the report:

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

There is a rise in the usage of licorice extracts in the pharmaceutical industry to manufacture various medicines and health supplements. Along with this, the rising occurrence of viral infections and digestive problems among individuals is bolstering the market growth.

Furthermore, the increasing adoption of the product in formulating numerous skincare products is creating a positive market outlook. The wide availability of products formulated with licorice extracts across online and offline distribution channels, such as hypermarkets, supermarkets, and medical stores, is also propelling the growth of the market.

Moreover, licorice extract is used as a flavor enhancer, additive, and natural sweetener in cake batters, chewing gums, sweet custard, and many beverages.

Leading Companies Operating in the Global Licorice Extract Industry:

  • Alfarid Corporation Limited

  • AOS Products Pvt. Ltd.

  • Avestia Pharma

  • C.E. Roeper GmbH

  • F&C 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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