The licorice extract market continues to demonstrate robust growth globally, driven by rising demand in pharmaceuticals, cosmetics, and food & beverage sectors. Recent market trends highlight expanding applications and increasing consumer preference for natural ingredients, positioning the licorice extract industry for significant expansion over the forecast period.
Market Size and Overview
The Global Licorice Extract Market size is estimated to be valued at USD 1,779.59 million in 2025 and is expected to grow at a CAGR of 5.7% from 2025 to 2032. This growth reflects the escalating market revenue driven by increased adoption across diverse industries including healthcare and personal care.
The Licorice Extract Market Report reveals expanding industry size and market share, driven by innovations in extraction technologies and formulation improvements enhancing bioavailability and effectiveness.
Market Drivers
- Growing Demand for Natural and Organic Products: In 2024, the rising consumer inclination towards natural and organic products significantly propelled market growth. For instance, the food and beverage industry increasingly incorporates licorice extract as a natural sweetener and flavor enhancer, driving market revenue.
The pharmaceutical sector also benefits from its anti-inflammatory and antioxidant properties, contributing to expanding market opportunities.
- Recent data shows a 7% year-on-year increase in licorice extract usage in skincare formulations, confirming that market drivers are effectively boosting market dynamics.
PEST Analysis
- Political: Regulatory reforms in regions like the EU during 2024 encouraged the use of natural extracts, positively influencing licorice extract product approvals and market growth strategies.
- Economic: Economic recovery and rising disposable incomes in emerging markets in 2025 have expanded market scope, enabling increased consumer spending on premium natural products including licorice extract-based goods.
- Social: Heightened health consciousness and preference for plant-based ingredients across Europe and North America, recorded in 2024 surveys, are driving the licorice extract market trends and business growth.
- Technological: Advancement in extraction technologies in 2025, such as ultrasound-assisted extraction, have optimized yield and purity, enhancing industry size and market revenue while overcoming market challenges related to product efficacy.
Promotion and Marketing Initiative
- A 2025 promotional campaign by a key licorice extract market player leveraged influencer marketing combined with sustainability messaging, leading to a 15% increase in brand engagement and contributing positively to market growth. These initiatives emphasize transparency and product origin, helping companies tap into new market segments and boost overall market share.
- Such modern marketing approaches demonstrate how strategic promotion enhances business growth in the licorice extract market landscape.
Key Players
Prominent market companies in the licorice extract market include:
- Norevo GmbH
- MAFCO Worldwide LLC
- FC Licorice
- Zagros Licorice Co.
- Li Natural Ingredients
- Sabinsa Corporation
- Tianjin Zhongxin Pharmaceutical Group
- Euromed S.A.
- Indesso Aromatics
- Guangdong Yushi Pharmaceutical
- Radix Biosolutions
- Fenchem
Recent Strategies:
- Norevo GmbH expanded its production facilities in Germany (2024), enhancing market capacity and meeting growing demand for organic licorice extract derivatives.
- MAFCO Worldwide LLC launched a premium licorice extract product tailored for the pharmaceutical industry in early 2025, resulting in a 10% revenue increase in Q2.
- FC Licorice partnered with cosmetic brands in 2024 to supply standardized extracts, driving mutual growth in natural skincare market segments.
These expansions and partnerships highlight dynamic business growth and validate the licorice extract market report's insights on competitive market players and growth trajectories.
FAQs
1. Who are the dominant players in the Licorice Extract market?
Dominant market companies include Norevo GmbH, MAFCO Worldwide LLC, and FC Licorice, all of whom have enhanced their production capabilities and expanded partnerships in 2024 and 2025 to strengthen their market position.
2. What will be the size of the Licorice Extract market in the coming years?
The licorice extract market size is projected to increase steadily from USD 1,779.59 million in 2025 with a CAGR of 5.7% through 2032, driven by diverse applications and rising natural ingredient adoption.
3. Which end-user industry has the largest growth opportunity?
The pharmaceutical and personal care industries present the largest growth opportunities, with pharmaceutical companies incorporating licorice extract for its therapeutic properties and personal care brands focusing on natural and organic product lines.
4. How will market development trends evolve over the next five years?
The market trends indicate a shift towards enhanced extraction technologies and wider use in niche segments such as nutraceuticals and specialty cosmetics, supported by growing consumer demand for clean-label products.
5. What is the nature of the competitive landscape and challenges in the Licorice Extract market?
The landscape is competitive with players focusing on innovation and sustainability, though challenges remain related to raw material supply fluctuations and regulatory compliance across regions.
6. What go-to-market strategies are commonly adopted in the Licorice Extract market?
Market players frequently adopt strategies such as product innovation, strategic partnerships, and targeted digital marketing campaigns that emphasize product purity and sustainability to capture growing market segments.
Get more insights on: Licorice Extract Market
Get this Report in Japanese Language: 甘草エキス市場
Get this Report in Korean Language: 감초추출물시장
Read More Articles Related to this Industry: Key Developments in Medium Chain Triglycerides Industry
About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
copyright src="chrome-extension://fpjppnhnpnknbenelmbnidjbolhandnf/content_script_web_accessible/ecp_regular.js" type="text/javascript">