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Licorice Root Market Expected To Reach $4.5 Billion By 2030 At 6.6% CAGR
The licorice root market size has experienced significant expansion in recent years. It is projected to increase from $3.24 billion in 2025 to $3.48 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 7.4%. The growth observed in the historic period can be attributed to its traditional use in medicinal preparations, the expansion of herbal medicine markets, increased sourcing of pharmaceutical ingredients, rising awareness concerning digestive health, and the availability of regions suitable for licorice cultivation.
The licorice root market is forecast to experience significant expansion over the coming years, with its valuation expected to reach $4.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.6%. This projected growth is attributed to factors like heightened demand from the nutraceuticals sector, the proliferation of clean-label food formulations, increased utilization in pharmaceutical research, expanding cosmetic applications, and a greater emphasis on sustainable herb sourcing. Prominent trends for the forecast period include a rise in the use of licorice in herbal remedies, growing interest in natural sweeteners, broader applications for licorice extract, an increasing preference for plant-based ingredients, and a stronger focus on the standardized quality of extracts.
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Licorice Root Market Growth Momentum: Which Factors Are Influencing Demand?
The expanding demand within the pharmaceutical sector is anticipated to boost the growth of the licorice root market in the future. This industry encompasses companies and entities dedicated to the research, development, manufacturing, and supply of medicines and drugs. The increase in pharmaceutical demand stems from an aging global population, a rise in chronic and infectious illnesses, and enhanced worldwide access to healthcare services. Licorice root finds application in the pharmaceutical industry owing to its anti-inflammatory, antiviral, and antimicrobial qualities, which contribute to treating digestive problems, respiratory conditions, and supporting immune health. As an illustration, the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based industry group, reported in July 2025 that the global prescription-pharmaceutical market reached $1,528,535 million in 2024, demonstrating growth over 2023. Consequently, the rising demand in the pharmaceutical industry is stimulating the expansion of the licorice root market.
Licorice Root Market Segmentation And Category Breakdown
The licorice root market covered in this report is segmented –
1) By Product Type: Oleoresins, Herbs And Spices
2) By Product Form: Roots, Extracts
3) By End User: Food And Beverage Industry, Tobacco Industry, Pharmaceutical Industry, Cosmetic Industry, Dietary Supplements
Subsegments:
1) By Oleoresins: Licorice Oleoresins for Flavoring, Licorice Oleoresins for Pharmaceuticals
2) By Herbs and Spices: Whole Licorice Root, Ground Licorice Root
Licorice Root Market Trends Reshaping Industry Growth
Leading companies active in the Licorice Root market are focusing on developing creative solutions, such as upscale licorice confectionery ranges, to satisfy the growing demand for natural, plant-derived flavoring and functional components in snacks and wellness items. High-end licorice collections typically feature superior licorice root extracts combined with complementary tastes, providing a healthier and more refined choice compared to conventional, sugar-rich licorice products. For example, in June 2024, Bülow, a confectionery business based in Denmark, introduced the 2024 Lakrids by Bülow Summer Collection, an innovative line of licorice products released after 2022. This particular collection contains licorice pieces made with natural licorice root extract, blended with exotic elements like tropical fruits and delicate spices. The products are formulated to offer a balanced flavor profile, merging the traditional sweetness and chewiness of licorice with modern taste advancements, while retaining a premium, artisan quality. These offerings are suitable for gourmet snacking, gifting, and exclusive retail settings, underscoring both taste sophistication and the attraction of natural ingredients.
Licorice Root Market Competitive Analysis Of Major Industry Participants
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
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Licorice Root Market Global Footprint: Which Region Holds Market Leadership?
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.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.