The global licorice root market is expected to experience robust growth over the next decade. It is projected to reach a value of USD 1,052.52 million in 2025, with a compound annual growth rate (CAGR) of 7.4%, reaching USD 2,149.18 million by 2035. This growth trajectory is largely driven by increasing demand for licorice root in traditional medicine and as a key ingredient in various industries, including food and beverages, pharmaceuticals, and cosmetics. As awareness of its health benefits rises, the market is poised to expand further across diverse regions.
Licorice root, known for its anti-inflammatory, anti-viral, and digestive properties, has been used in traditional medicine for centuries, particularly in Asia. Its role in treating ailments such as respiratory issues, digestive discomfort, and stress is increasingly recognized worldwide. Furthermore, licorice root’s versatility in food applications, including its use as a flavoring agent and in functional foods, enhances its appeal. Additionally, its inclusion in cosmetic formulations for skin care and hair care is contributing to its growing popularity in the beauty industry.
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Key Licorice Root Market Trends Highlighted
Several key trends are shaping the licorice root market. The increasing shift towards plant-based, natural ingredients in food and beverages has led to a surge in the demand for licorice root as a flavor enhancer and functional ingredient. The global rise in health consciousness, coupled with a preference for natural remedies, is driving the demand for licorice root in dietary supplements and herbal products. Moreover, the expanding trend of incorporating functional foods—products that provide health benefits beyond basic nutrition—further elevates the potential for licorice root.
Licorice Root Industry Developments
The licorice root industry has witnessed significant developments in recent years. With the growing popularity of natural and organic ingredients, key players in the food and pharmaceutical industries are increasingly turning to licorice root for its versatile benefits. New research highlighting its potential in treating chronic conditions like diabetes and obesity is also fueling its growth. In addition, innovative extraction methods and the development of new licorice root-based products are opening up fresh opportunities in the market, particularly in functional foods, beverages, and personal care products.
Key Takeaways of Report
- The global licorice root market is projected to grow at a CAGR of 7.4%, reaching USD 2,149.18 million by 2035.
- Traditional medicine, particularly in Asia, remains a major driver of licorice root demand.
- The rise in chronic diseases and the demand for alternative therapeutic options support the market’s expansion.
- Licorice root’s integration into functional foods and beverages is a key trend.
- The market is witnessing significant developments, including innovative product formulations and new applications across various industries.
Licorice Root Market Drivers
A major driver for the licorice root market is its increasing utilization in traditional medicine, especially across Asia. As consumers become more health-conscious and seek natural alternatives to synthetic treatments, licorice root is gaining traction for its medicinal properties. The rising prevalence of chronic diseases such as diabetes and obesity is also boosting demand for alternative treatments, further elevating the role of licorice root in managing these conditions.
Additionally, the growing trend of functional foods and beverages is creating significant opportunities for incorporating licorice root as a flavoring and health-enhancing ingredient. Consumers are increasingly looking for food and beverage products that offer added health benefits, and licorice root’s role in promoting digestive health, reducing inflammation, and boosting immunity positions it as a valuable addition to these products.
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Licorice Root Market Regional Insights
The licorice root market is experiencing varied growth across different regions. Asia, particularly China and India, remains the largest market for licorice root, driven by its long-standing use in traditional medicine. North America and Europe are also witnessing significant growth, with increasing demand for licorice root in functional foods, beverages, and dietary supplements. In particular, the U.S. and the U.K. are seeing a rising interest in herbal products and natural remedies, further contributing to market expansion.
Competition Outlook
The competitive landscape of the licorice root market is marked by the presence of several key players, including suppliers of raw licorice root and manufacturers of licorice-based products. These players are focusing on product innovation, strategic partnerships, and expansion into emerging markets to capitalize on the growing demand. The industry is also witnessing an increasing emphasis on sustainability and ethical sourcing practices, as consumers and companies alike become more aware of the environmental impact of sourcing natural ingredients.
Leading Brands
- Norevo GmbH
- MAFCO Worldwide LLC
- Zagros Licorice Co.
- F&C Licorice Ltd
- BGG World Maruzen Pharmaceuticals Co., Ltd
- Naturex SA
- Maruzen Pharmaceuticals Co. Ltd.
- Aushadhi Herbal
Country-wise CAGR Analysis (2025 to 2035)
- India Licorice Root Market: 7.9%
- Japan Licorice Root Market: 6.3%
- China Licorice Root Market: 5.9%
- USA Licorice Root Market: 5.1%
- UK Licorice Root Market: 2.7%
The growth rates in key countries reflect the diverse demand for licorice root in various regions. India is anticipated to lead with the highest CAGR, driven by its growing herbal medicine market and increasing health-conscious consumer base. China, the largest producer of licorice root, continues to hold a substantial market share, while North America and Europe are catching up, driven by the growing interest in herbal and functional food products.
As the licorice root market continues to evolve, its increasing applications in traditional medicine, functional foods, and personal care products are expected to fuel continued growth over the next decade, offering significant opportunities for stakeholders across the value chain.
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Key Segments of the Report
By Product Form:
The market is segmented into roots, extracts, blocks, powder, paste, and others, with extracts dominating due to their widespread use in pharmaceuticals and food applications.
By End Use:
The market is categorized into the food and beverage industry, tobacco industry, pharmaceutical industry, cosmetic industry, and dietary supplements, with pharmaceuticals leading due to increasing herbal medicine demand.
By Region:
The market is analyzed across North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, Central Asia, Balkan and Baltic countries, Russia and Belarus, and the Middle East & Africa.
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