1. What is the size of the global Licorice Extracts market in 2024?

The global Licorice Extracts market was valued at USD 3.40 Billion in 2024.

2. What is the expected growth rate of the Licorice Extracts market over the forecast period?

The global Licorice Extracts market is expected to expand at a CAGR of 6.4% between 2025 and 2032.

3. What factors are driving the global Licorice Extracts market currently?

The global Licorice Extracts market is driven by increasing demand in pharmaceuticals for anti-inflammatory and digestive benefits, growing use in food & beverages as a natural flavoring agent, rising applications in cosmetics for skin care formulations, expanding nutraceutical consumption, and growing adoption by the tobacco industry.

4. Who are the key players in the global Licorice Extracts market space?

MAFCO Worldwide LLC, F&C Licorice Ltd., Norevo GmbH, Zagros Licorice Co., Naturex SA, Sepidan Osareh Co., AOS Products Pvt. Ltd., Maruzen Pharmaceuticals Co., Ltd., ASEH Licorice MFG Co., VPL Chemicals Ltd.

5. Which region accounted for the largest share in the global Licorice Extracts market?

Asia Pacific accounted for the largest share in the global Licorice Extracts market, led by China, India, and Japan. This dominance is attributed to traditional herbal medicine usage, strong demand in food processing, and large-scale pharmaceutical and nutraceutical production in the region.

Licorice Extracts Market Size, Trends, Share, Growth, and Opportunity Forecast, 2025 – 2032 Global Industry Analysis By Type (Powdered Extracts, Liquid Extracts, Block Extracts, Deglycyrrhizinated Extracts (DGL), and Flavored Extracts), By Application (Pharmaceuticals, Food & Beverages, Personal Care Products, Nutraceuticals, and Tobacco Products), By End-User (Pharmaceutical Companies, Food Processing Units, Cosmetic Manufacturers, Dietary Supplement Brands, and Tobacco Industry Players), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Region: Global

Published: August 2025

Report Code: CGNCAM1770

Pages: 253

Description Table Of Content Highlights Methodology Request Sample

Chapter 1.    Executive Summary
1.1. Global Licorice Extracts Market Size and Forecast, 2020 - 2032 (USD Million)
1.2. Global Licorice Extracts Market Snapshot, by Segmentation
1.3. Global Licorice Extracts Market Snapshot, by Region
1.4. Global Licorice Extracts Market Snapshot, by Manufacturers
Chapter 2.    Research Methodology
2.1. Research Approach
2.2. Scope, Definition, and Assumptions
2.3. Data Sources
2.3.1. Secondary Sources
2.3.1.1.         Preliminary Data Mining
2.3.2. Primary Sources
2.3.2.1.         Statistical Model
2.3.2.2.         Data Triangulation
2.3.2.3.         Research Objective
Chapter 3.    Market Outlook
3.1. Introduction
3.2. Key Trends
3.2.1. Type Trends
3.2.2. Application Trends
3.2.3. End-User Trends
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.1.1.         Impact Analysis of Market Drivers
3.3.2. Market Restraints
3.3.2.1.         Impact Analysis of Market Restraints
3.3.3. Market Opportunities
3.3.3.1.         Impact Analysis of Market Opportunities
3.3.4. Market Challenges
3.3.4.1.         Impact Analysis of Market Challenges
3.4. Porter’s Five Forces’ Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of New Entrant
3.4.4. Threat of Substitutes
3.4.5. Competitive Rivalry
3.5. Value Chain Analysis
3.6. COVID-19 Impact Assessment in Licorice Extracts Market
3.6.1. Impact Assessment on Global Licorice Extracts Market
3.6.2. Market Trends and Opportunities in the Covid-19 Landscape
3.7. Industry SWOT Analysis: Global Licorice Extracts Market
3.8. PESTLE Analysis: Global Licorice Extracts Market
Chapter 4.    Competitive Landscape
4.1. Global Licorice Extracts Market Revenue and Share by Manufacturers (2023 and 2024)
4.2. Global Licorice Extracts Market Concentration Rate
4.2.1. Licorice Extracts Market Share of Top 3 and Top 5 Manufacturers
4.3.    Competitive Environment, 2024
4.3.1. Player Competition Dashboard, 2024
4.3.2. Heat Map Analysis – Market Competition
4.3.3. Pyramid Analysis – Tier Wise Ranking
4.4.    Strategic Framework
4.4.1. Partnership/Collaborations/Agreement
4.4.2. Expansion
4.4.3. Mergers & Acquisitions
4.4.4. New Product Development
Chapter 5.    Global Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
5.1. Global Licorice Extracts Market Share, By Type, 2020 - 2032 (USD Million)
5.1.1. Powdered Extracts
5.1.1.1.         Overview
5.1.1.2.         Market Size and Projections, 2020 - 2032 (USD Million)
5.1.2. Liquid Extracts
5.1.2.1.         Overview
5.1.2.2.         Market Size and Projections, 2020 - 2032 (USD Million)
5.1.3. Block Extracts
5.1.3.1.         Overview
5.1.3.2.         Market Size and Projections, 2020 - 2032 (USD Million)
5.1.4. Deglycyrrhizinated Extracts (DGL)
5.1.4.1.         Overview
5.1.4.2.         Market Size and Projections, 2020 - 2032 (USD Million)
5.1.5. Flavored Extracts
5.1.5.1.         Overview
5.1.5.2.         Market Size and Projections, 2020 - 2032 (USD Million)
5.2. Market Attractiveness Analysis, by Type
Chapter 6.    Global Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
6.1. Global Licorice Extracts Market Share, By Application, 2020 - 2032 (USD Million)
6.1.1. Pharmaceuticals
6.1.1.1.         Overview
6.1.1.2.         Market Size and Projections, 2020 - 2032 (USD Million)
6.1.2. Food & Beverages
6.1.2.1.         Overview
6.1.2.2.         Market Size and Projections, 2020 - 2032 (USD Million)
6.1.3. Personal Care Products
6.1.3.1.         Overview
6.1.3.2.         Market Size and Projections, 2020 - 2032 (USD Million)
6.1.4. Nutraceuticals
6.1.4.1.         Overview
6.1.4.2.         Market Size and Projections, 2020 - 2032 (USD Million)
6.1.5. Tobacco Products
6.1.5.1.         Overview
6.1.5.2.         Market Size and Projections, 2020 - 2032 (USD Million)
6.2. Market Attractiveness Analysis, by Application
Chapter 7.    Global Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
7.1. Global Licorice Extracts Market Share, By End-User, 2020 - 2032 (USD Million)
7.1.1. Pharmaceutical Companies
7.1.1.1.         Overview
7.1.1.2.         Market Size and Projections, 2020 - 2032 (USD Million)
7.1.2. Food Processing Units
7.1.2.1.         Overview
7.1.2.2.         Market Size and Projections, 2020 - 2032 (USD Million)
7.1.3. Cosmetic Manufacturers
7.1.3.1.         Overview
7.1.3.2.         Market Size and Projections, 2020 - 2032 (USD Million)
7.1.4. Dietary Supplement Brands
7.1.4.1.         Overview
7.1.4.2.         Market Size and Projections, 2020 - 2032 (USD Million)
7.1.5. Tobacco Industry Players
7.1.5.1.         Overview
7.1.5.2.         Market Size and Projections, 2020 - 2032 (USD Million)
7.2. Market Attractiveness Analysis, by End-User
Chapter 8.    Global Licorice Extracts Market Overview, By Geography, 2020 - 2032 (USD Million)
8.1. Global Licorice Extracts Market Share, By Geography, 2020 - 2032 (USD Million)
8.1.1. Market Size and Projections, by Countries, 2020 - 2032 (USD Million)
8.1.2. Market Share and CAGR Comparison, by Countries, 2023 and 2030 (%)
8.2. Market Attractiveness Analysis, by Geography
Chapter 9.    North America Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
9.1.    North America Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
9.1.1.     Market size and projections, 2020 - 2032 (USD Million)
9.1.2.     North America Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
9.1.3.     North America Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
9.1.4.     North America Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
9.2.    North America Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
9.2.1.     U.S. Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
9.2.1.1.         U.S. Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
9.2.1.2.         U.S. Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
9.2.1.3.         U.S. Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
9.2.2.     Canada Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
9.2.2.1.         Canada Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
9.2.2.2.         Canada Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
9.2.2.3.         Canada Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
9.2.3.     Mexico Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
9.2.3.1.         Mexico Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
9.2.3.2.         Mexico Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
9.2.3.3.         Mexico Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
Chapter 10. Europe Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
10.1. Europe Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
10.1.1.   Market size and projections, 2020 - 2032 (USD Million)
10.1.2.   Europe Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
10.1.3.   Europe Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
10.1.4.   Europe Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
10.2. Europe Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
10.2.1.   Germany Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
10.2.1.1.       Germany Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
10.2.1.2.       Germany Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
10.2.1.3.       Germany Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
10.2.2.   France Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
10.2.2.1.       France Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
10.2.2.2.       France Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
10.2.2.3.       France Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
10.2.3.   UK Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
10.2.3.1.       UK Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
10.2.3.2.       UK Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
10.2.3.3.       UK Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
10.2.4.   Italy Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
10.2.4.1.       Italy Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
10.2.4.2.       Italy Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
10.2.4.3.       Italy Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
10.2.5.   Russia Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
10.2.5.1.       Russia Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
10.2.5.2.       Russia Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
10.2.5.3.       Russia Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
10.2.6.   Rest of Europe Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
10.2.6.1.       Rest of Europe Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
10.2.6.2.       Rest of Europe Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
10.2.6.3.       Rest of Europe Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
Chapter 11. Asia Pacific Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
11.1. Asia Pacific Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
11.1.1.   Market size and projections, 2020 - 2032 (USD Million)
11.1.2.   Asia Pacific Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
11.1.3.   Asia Pacific Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
11.1.4.   Asia Pacific Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
11.2. Asia Pacific Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
11.2.1.   India Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
11.2.1.1.       India Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
11.2.1.2.       India Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
11.2.1.3.       India Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
11.2.2.   China Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
11.2.2.1.       China Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
11.2.2.2.       China Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
11.2.2.3.       China Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
11.2.3.   Japan Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
11.2.3.1.       Japan Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
11.2.3.2.       Japan Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
11.2.3.3.       Japan Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
11.2.4.   South Korea Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
11.2.4.1.       South Korea Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
11.2.4.2.       South Korea Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
11.2.4.3.       South Korea Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
11.2.5.   Australia Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
11.2.5.1.       Australia Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
11.2.5.2.       Australia Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
11.2.5.3.       Australia Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
11.2.6.   Rest of Asia Pacific Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
11.2.6.1.       Rest of Asia Pacific Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
11.2.6.2.       Rest of Asia Pacific Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
11.2.6.3.       Rest of Asia Pacific Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
Chapter 12. South America Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
12.1. South America Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
12.1.1.   Market size and projections, 2020 - 2032 (USD Million)
12.1.2.   South America Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
12.1.3.   South America Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
12.1.4.   South America Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
12.2. South America Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
12.2.1.   Brazil Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
12.2.1.1.       Brazil Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
12.2.1.2.       Brazil Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
12.2.1.3.       Brazil Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
12.2.2.   Argentina Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
12.2.2.1.       Argentina Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
12.2.2.2.       Argentina Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
12.2.2.3.       Argentina Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
12.2.3.   Rest of South America Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
12.2.3.1.       Rest of South America Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
12.2.3.2.       Rest of South America Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
12.2.3.3.       Rest of South America Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
Chapter 13. Middle East & Africa Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
13.1. Middle East & Africa Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
13.1.1.   Market size and projections, 2020 - 2032 (USD Million)
13.1.2.   Middle East & Africa Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
13.1.3.   Middle East & Africa Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
13.1.4.   Middle East & Africa Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
13.2. Middle East & Africa Licorice Extracts Market Overview, By Countries, 2020 - 2032 (USD Million)
13.2.1.   GCC Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
13.2.1.1.       GCC Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
13.2.1.2.       GCC Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
13.2.1.3.       GCC Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
13.2.2.   South Africa Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
13.2.2.1.       South Africa Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
13.2.2.2.       South Africa Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
13.2.2.3.       South Africa Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
13.2.3.   Rest of Middle East & Africa Licorice Extracts Market Overview, 2020 - 2032 (USD Million)
13.2.3.1.       Rest of Middle East & Africa Licorice Extracts Market Overview, By Type, 2020 - 2032 (USD Million)
13.2.3.2.       Rest of Middle East & Africa Licorice Extracts Market Overview, By Application, 2020 - 2032 (USD Million)
13.2.3.3.       Rest of Middle East & Africa Licorice Extracts Market Overview, By End-User, 2020 - 2032 (USD Million)
Chapter 14. Key Vendor Analysis
14.1. MAFCO Worldwide LLC*
14.1.1.       Business Overview
14.1.2.       Product Benchmarking
14.1.3.       Financial Data
14.1.4.       SWOT Analysis
14.1.5.       Strategic Overview
14.1.6.       Key Developments
*Similar sub-pointers will be included for rest of the companies listed below
14.2. F&C Licorice Ltd.
14.3. Norevo GmbH
14.4. Zagros Licorice Co.
14.5. Naturex SA
14.6. Sepidan Osareh Co.
14.7. AOS Products Pvt. Ltd.
14.8. Maruzen Pharmaceuticals Co., Ltd.
14.9. ASEH Licorice MFG Co.
14.10. VPL Chemicals Ltd.
Chapter 15. Key Conclusions & Analyst Recommendations
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