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Licorice Root Market Historical Growth Vs. Forecast Growth: How Do The Numbers Compare?
The licorice root market size has experienced strong growth in recent years. It is projected to expand from $3.24 billion in 2025 to $3.48 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 7.4%. Historically, this growth is attributable to its traditional use in medicinal preparations, the expansion of herbal medicine markets, increased pharmaceutical ingredient sourcing, rising awareness of digestive health, and the availability of licorice cultivation regions.
The licorice root market size is predicted to experience robust expansion over the next few years. It is forecasted to reach $4.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.6%. The anticipated growth during this period can be attributed to increased demand from the nutraceuticals industry, the proliferation of clean-label food products, heightened application in pharmaceutical research, expanding cosmetic uses, and a greater emphasis on responsibly sourced herbs. Prominent trends for the forecast period include the increased incorporation of licorice in herbal remedies, a rising need for natural sweeteners, the broadening of licorice extract applications, an evolving preference for plant-based components, and a strengthened focus on the consistent quality of extracts.
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The Leading Growth Driver In The Licorice Root Market Explained
The increasing demand within the pharmaceutical industry is projected to fuel the expansion of the licorice root market. The pharmaceutical industry encompasses organizations and companies dedicated to the research, development, production, and distribution of drugs and medications. This rising demand in the sector is driven by factors such as an aging population, a higher prevalence of chronic and infectious diseases, and improved worldwide access to healthcare. Licorice root is employed in the pharmaceutical industry for its anti-inflammatory, antiviral, and antimicrobial characteristics, assisting in treatments for digestive problems, respiratory conditions, and immune support formulations. For instance, in July 2025, the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based industry association, stated that the global prescription-pharmaceutical market grew to $1,528,535 million in 2024, indicating an increase compared to 2023. Thus, the growing demand from the pharmaceutical industry is a key driver for the licorice root market’s growth.
Key Segments Shaping The Licorice Root Market Landscape
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 Trend Spotlight: Key Shifts Shaping Future Demand
Key companies operating in the Licorice Root market are concentrating on developing novel solutions, such as high-end licorice confectionery lines, to address the growing demand for natural, plant-based flavoring and functional ingredients in snacks and wellness products. These upscale licorice assortments generally incorporate superior licorice root extracts alongside complementary tastes, providing a more wholesome and sophisticated option compared to conventional, sugar-laden licorice items. For instance, in June 2024, Bülow, a Denmark-based confectionery firm, released its 2024 Lakrids by Bülow Summer Collection, an innovative licorice product series unveiled after 2022. This collection features licorice items made with natural licorice root extract, mixed with exotic elements like tropical fruits and subtle spices. The products are crafted to deliver a balanced taste, merging the classic sweetness and chewiness of licorice with contemporary flavor advancements, all while preserving a premium, handcrafted essence. Such offerings are ideal for refined snacking, present-giving, and upscale retail environments, emphasizing both sophisticated taste and the attractiveness of natural ingredients.
Licorice Root Market Competitive Analysis: Who Are The Main Competitors?
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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Mapping The Licorice Root Market: Regional Leadership And Global Reach
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.
