Global Licorice Extract Supply, Demand and Key Producers, 2026-2032
Description
The global Licorice Extract market size is expected to reach $ 914 million by 2032, rising at a market growth of 6.7% CAGR during the forecast period (2026-2032).
In 2024, global sales of licorice extract reached 27,199 tons, with an average selling price of US$22,235 per ton.
Licorice extract comes from the licorice plant. The root of the plant is primarily used in preparing the extract, and the hard woody plant is pulped then boiled to further extract and refine the contents. Licorice extract is a natural ingredient often found in both food and herbal medicine supplements. While the full medicinal effectiveness of licorice has not been completely tested, some benefits have been proven and others have enough support to warrant its inclusion in a number of supplements. Often found in teas and used in a number of different products as a flavoring ingredient, licorice extract can provide help in treating stomach issues such as heartburn, but does have some noteworthy side effects that should be considered.
Major global manufacturers of licorice extract include Norevo GmbH, Mafco Worldwide, Gansu Fanzhi Pharmaceutical, Hongyufeng Bio-Technolog, F&C Licorice, Ransom Naturals, Qinghai Blicsweet Licorice Technology, and Xinjiang Long Hui Yuan Pharmaceutical. The top five manufacturers globally account for approximately 37% of the market share. Currently, China is the world's largest market, accounting for approximately 40% of the market share.
Licorice extract is made from the dried roots and rhizomes of leguminous plants such as *Glycyrrhiza uralensis*, *Glycyrrhiza inflata*, and *Glycyrrhiza glabra*. In 2023, the planting area in China reached approximately 450,000 hectares, with over 80% concentrated in arid and semi-arid regions such as Inner Mongolia, Gansu, and Xinjiang. The raw material purchase price is approximately 15 yuan/kg, fluctuating significantly due to weather and market demand. In its cost structure, raw materials account for the largest share (approximately 50%–60%), followed by energy and solvent consumption (around 20%), while labor, equipment depreciation, and environmental treatment together account for 20%–30%. If high-efficiency processes such as ultrasonic-microwave synergy or supercritical CO₂ are adopted, energy consumption can be reduced by more than 30%, but the initial equipment investment is significant.
This report studies the global Licorice Extract production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Licorice Extract and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Licorice Extract that contribute to its increasing demand across many markets.
Highlights and key features of the study
Global Licorice Extract total production and demand, 2021-2032, (MT)
Global Licorice Extract total production value, 2021-2032, (USD Million)
Global Licorice Extract production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (MT), (based on production site)
Global Licorice Extract consumption by region & country, CAGR, 2021-2032 & (MT)
U.S. VS China: Licorice Extract domestic production, consumption, key domestic manufacturers and share
Global Licorice Extract production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (MT)
Global Licorice Extract production by Type, production, value, CAGR, 2021-2032, (USD Million) & (MT)
Global Licorice Extract production by Application, production, value, CAGR, 2021-2032, (USD Million) & (MT)
This report profiles key players in the global Licorice Extract market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Magnasweet, ASEH, Zagros Licorice, Sepidan Osareh, FandC Licorice, Norevo GmbH, Ransom Naturals, Maruzen Pharmaceuticals, MCFS, Aushadhi Herbal, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Licorice Extract market
Detailed Segmentation:
Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (MT) and average price (USD/MT) by manufacturer, by Type, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.
Global Licorice Extract Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World
Global Licorice Extract Market, Segmentation by Type:
Pharmaceutical Grade
Food Grade
Feed Grade
Global Licorice Extract Market, Segmentation by Extraction Methods:
Water Extraction
Alcohol Extraction
Supercritical CO₂ Extract
Other
Global Licorice Extract Market, Segmentation by Product Physical Form:
Concentrated Extract
Spray-Dried Powder
Block Extract
Other
Global Licorice Extract Market, Segmentation by Application:
Pharmaceutical
Food
Cosmetic
Others
Companies Profiled:
Magnasweet
ASEH
Zagros Licorice
Sepidan Osareh
FandC Licorice
Norevo GmbH
Ransom Naturals
Maruzen Pharmaceuticals
MCFS
Aushadhi Herbal
Avestia Pharma
VPL Chemicals
Zelang
Changyue
Bokai
Key Questions Answered:
1. How big is the global Licorice Extract market?
2. What is the demand of the global Licorice Extract market?
3. What is the year over year growth of the global Licorice Extract market?
4. What is the production and production value of the global Licorice Extract market?
5. Who are the key producers in the global Licorice Extract market?
6. What are the growth factors driving the market demand?
In 2024, global sales of licorice extract reached 27,199 tons, with an average selling price of US$22,235 per ton.
Licorice extract comes from the licorice plant. The root of the plant is primarily used in preparing the extract, and the hard woody plant is pulped then boiled to further extract and refine the contents. Licorice extract is a natural ingredient often found in both food and herbal medicine supplements. While the full medicinal effectiveness of licorice has not been completely tested, some benefits have been proven and others have enough support to warrant its inclusion in a number of supplements. Often found in teas and used in a number of different products as a flavoring ingredient, licorice extract can provide help in treating stomach issues such as heartburn, but does have some noteworthy side effects that should be considered.
Major global manufacturers of licorice extract include Norevo GmbH, Mafco Worldwide, Gansu Fanzhi Pharmaceutical, Hongyufeng Bio-Technolog, F&C Licorice, Ransom Naturals, Qinghai Blicsweet Licorice Technology, and Xinjiang Long Hui Yuan Pharmaceutical. The top five manufacturers globally account for approximately 37% of the market share. Currently, China is the world's largest market, accounting for approximately 40% of the market share.
Licorice extract is made from the dried roots and rhizomes of leguminous plants such as *Glycyrrhiza uralensis*, *Glycyrrhiza inflata*, and *Glycyrrhiza glabra*. In 2023, the planting area in China reached approximately 450,000 hectares, with over 80% concentrated in arid and semi-arid regions such as Inner Mongolia, Gansu, and Xinjiang. The raw material purchase price is approximately 15 yuan/kg, fluctuating significantly due to weather and market demand. In its cost structure, raw materials account for the largest share (approximately 50%–60%), followed by energy and solvent consumption (around 20%), while labor, equipment depreciation, and environmental treatment together account for 20%–30%. If high-efficiency processes such as ultrasonic-microwave synergy or supercritical CO₂ are adopted, energy consumption can be reduced by more than 30%, but the initial equipment investment is significant.
This report studies the global Licorice Extract production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Licorice Extract and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Licorice Extract that contribute to its increasing demand across many markets.
Highlights and key features of the study
Global Licorice Extract total production and demand, 2021-2032, (MT)
Global Licorice Extract total production value, 2021-2032, (USD Million)
Global Licorice Extract production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (MT), (based on production site)
Global Licorice Extract consumption by region & country, CAGR, 2021-2032 & (MT)
U.S. VS China: Licorice Extract domestic production, consumption, key domestic manufacturers and share
Global Licorice Extract production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (MT)
Global Licorice Extract production by Type, production, value, CAGR, 2021-2032, (USD Million) & (MT)
Global Licorice Extract production by Application, production, value, CAGR, 2021-2032, (USD Million) & (MT)
This report profiles key players in the global Licorice Extract market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Magnasweet, ASEH, Zagros Licorice, Sepidan Osareh, FandC Licorice, Norevo GmbH, Ransom Naturals, Maruzen Pharmaceuticals, MCFS, Aushadhi Herbal, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Licorice Extract market
Detailed Segmentation:
Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (MT) and average price (USD/MT) by manufacturer, by Type, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.
Global Licorice Extract Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World
Global Licorice Extract Market, Segmentation by Type:
Pharmaceutical Grade
Food Grade
Feed Grade
Global Licorice Extract Market, Segmentation by Extraction Methods:
Water Extraction
Alcohol Extraction
Supercritical CO₂ Extract
Other
Global Licorice Extract Market, Segmentation by Product Physical Form:
Concentrated Extract
Spray-Dried Powder
Block Extract
Other
Global Licorice Extract Market, Segmentation by Application:
Pharmaceutical
Food
Cosmetic
Others
Companies Profiled:
Magnasweet
ASEH
Zagros Licorice
Sepidan Osareh
FandC Licorice
Norevo GmbH
Ransom Naturals
Maruzen Pharmaceuticals
MCFS
Aushadhi Herbal
Avestia Pharma
VPL Chemicals
Zelang
Changyue
Bokai
Key Questions Answered:
1. How big is the global Licorice Extract market?
2. What is the demand of the global Licorice Extract market?
3. What is the year over year growth of the global Licorice Extract market?
4. What is the production and production value of the global Licorice Extract market?
5. Who are the key producers in the global Licorice Extract market?
6. What are the growth factors driving the market demand?
Table of Contents
135 Pages
- 1 Supply Summary
- 2 Demand Summary
- 3 World Manufacturers Competitive Analysis
- 4 United States VS China VS Rest of the World
- 5 Market Analysis by Type
- 6 Market Analysis by Application
- 7 Company Profiles
- 8 Industry Chain Analysis
- 9 Research Findings and Conclusion
- 10 Appendix
Pricing
Currency Rates
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