Global Licorice Extract Powder Market Size Was valued at USD 1.9 Bn in 2024 and is predicted to reach USD 4.0 Bn by 2034 at a 7.9% CAGR during the forecast period for 2025-2034.
In food and confections, licorice extract powder, which is made from the root of the licorice plant (Glycyrrhiza glabra), is used as a natural flavoring and sweetener. It can be good for your health as well. Both its use in traditional and alternative medicine and the food and beverage industry's need for natural and herbal ingredients are driving the market trend for licorice extract powder. Additionally, a key driver of market expansion is the rising awareness of the health advantages of licorice oil powder.
The anti-inflammatory, antioxidant, and antibacterial qualities of licorice extract powder have made it more popular in medical and therapeutic settings. Furthermore, the growing demand in the food and beverage industry for licorice extract powder is another significant development factor. The extract is used in a variety of food and beverages as a flavoring and sweetener. Licorice extract powder is a perfect substitute for the increasingly popular low-sugar and natural sweeteners.
However, the market for licorice extract powder is also threatened, especially by issues with sustainability and regulations. The strict laws controlling the use of natural extracts in cosmetics, medications, and food might make it difficult to enter and expand the industry. Additionally, the growing consumer demand for natural and organic products is driving a number of potential prospects for the licorice extract powder market.
Some of the Major Key Players in the Licorice Extract Powder Market are:
The licorice extract powder market is segmented based on application and sales channel. Based on application, the market is segmented into pharmaceuticals, food and beverages, cosmetics and personal care, others. By sales channel, the market is segmented into direct sales/B2B, online, and retail. By form, the market is segmented into powder and liquid.
The food and beverages segment is expected to hold a major global market share in 2024. Licorice extract powder is mostly utilized as a natural flavoring and sweetening agent in the food and beverage sector. The use of licorice extract powder is growing as a result of the trend toward natural and organic food products. It is frequently present in drinks, functional meals, and confections. Licorice's health advantages, like its ability to lower blood sugar and its antioxidant qualities, increase its allure in the licorice extract powder market.
The popularity of online stores has grown due to their simplicity of use and wide range of products. Due to the increasing popularity of e-commerce and the trend of online purchasing, especially during the COVID-19 pandemic, licorice extract powder sales have surged through this channel. Furthermore, due to consumer preference for their accessibility, reasonable costs, and product ratings, online merchants are gaining the largest share of the licorice extract powder market.
The North American licorice extract powder market is expected to register the highest market share in revenue in the near future driven by growing consumer desire for plant-based and natural ingredients, growing use in food and drink, cosmetics, and medicines, increased knowledge of the possible health advantages of licorice extract powder, and the appeal of beverages and items with licorice flavors. After the United States, Canada also commands a sizeable portion of this market because of things like growing awareness of the possible health advantages of licorice extract powder, such as its anti-inflammatory and antioxidant qualities.
In addition, Europe is projected to grow rapidly in the global Licorice Extract Powder market. Natural and useful components are becoming more and more popular in European food, drink, and personal care goods. With its inherent sweetness and a host of health advantages, such as its anti-inflammatory and antioxidant qualities, licorice extract powder is becoming a more and more sought-after ingredient. Because of this, licorice-based products are becoming more and more popular in these areas across a range of industries, including as food and beverage, pharmaceuticals, and cosmetics.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 1.9 Bn |
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Revenue Forecast In 2034 |
USD 4.0 Bn |
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Growth Rate CAGR |
CAGR of 7.9% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Form, By Application, By Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Zagros Licorice Co., VPL Chemicals Pvt. Ltd., Maruzen Pharmaceuticals Co. Ltd., Norevo GmbH, FC Licorice Ltd., Aushadhi Herbal, Nutra Green Biotechnology Co., Ltd., MAFCO Worldwide LLC, Sepidan Osareh Jonoob Co., Ransom Naturals Ltd., and others. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Licorice Extract Powder Market Snapshot
Chapter 4. Global Licorice Extract Powder Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2034
4.8. Competitive Landscape & Market Share Analysis, By Key Player (2023)
4.9. Use/impact of AI on Licorice Extract Powder Market Trends
4.10. Global Licorice Extract Powder Market Penetration & Growth Prospect Mapping (US$ Mn), 2021-2034
Chapter 5. Licorice Extract Powder Market Segmentation 1: By Application, Estimates & Trend Analysis
5.1. Market Share by Application, 2024 & 2034
5.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Application:
5.2.1. Food and Beverages
5.2.2. Pharmaceuticals
5.2.3. Cosmetics and Personal Care
Chapter 6. Licorice Extract Powder Market Segmentation 2: Form, Estimates & Trend Analysis
6.1. Market Share by Form, 2024 & 2034
6.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Form:
6.2.1. Powder
6.2.2. Liquid
Chapter 7. Licorice Extract Powder Market Segmentation 3: By Distribution Channel, Estimates & Trend Analysis
7.1. Market Share by Distribution Channel, 2024 & 2034
7.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Distribution Channel:
7.2.1. Direct Sales/B2B
7.2.2. Online Retail
7.2.3. Brick-and-Mortar Retail
Chapter 8. Licorice Extract Powder Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. Global Licorice Extract Powder Market, Regional Snapshot 2024 & 2034
8.2. North America
8.2.1. North America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.2.1.1. US
8.2.1.2. Canada
8.2.2. North America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.2.3. North America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Form, 2021-2034
8.2.4. North America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
8.3. Europe
8.3.1. Europe Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.3.1.1. Germany
8.3.1.2. U.K.
8.3.1.3. France
8.3.1.4. Italy
8.3.1.5. Spain
8.3.1.6. Rest of Europe
8.3.2. Europe Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.3.3. Europe Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Form, 2021-2034
8.3.4. Europe Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
8.4. Asia Pacific
8.4.1. Asia Pacific Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.4.1.1. India
8.4.1.2. China
8.4.1.3. Japan
8.4.1.4. Australia
8.4.1.5. South Korea
8.4.1.6. Hong Kong
8.4.1.7. Southeast Asia
8.4.1.8. Rest of Asia Pacific
8.4.2. Asia Pacific Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.4.3. Asia Pacific Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Form, 2021-2034
8.4.4. Asia Pacific Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
8.5. Latin America
8.5.1. Latin America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.5.1.1. Brazil
8.5.1.2. Mexico
8.5.1.3. Rest of Latin America
8.5.2. Latin America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.5.3. Latin America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Form, 2021-2034
8.5.4. Latin America Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
8.6. Middle East & Africa
8.6.1. Middle East & Africa Wind Turbine Rotor Blade Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.6.1.1. GCC Countries
8.6.1.2. Israel
8.6.1.3. South Africa
8.6.1.4. Rest of Middle East and Africa
8.6.2. Middle East & Africa Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.6.3. Middle East & Africa Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Form, 2021-2034
8.6.4. Middle East & Africa Licorice Extract Powder Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Norevo GmbH (Germany)
9.2.1.1. Business Overview
9.2.1.2. Key Application/Service Overview
9.2.1.3. Financial Performance
9.2.1.4. Geographical Presence
9.2.1.5. Recent Developments with Business Strategy
9.2.2. FC Licorice Ltd. (Israel)
9.2.3. MAFCO Worldwide LLC (USA)
9.2.4. Sepidan Osareh Jonoob Co. (Iran)
9.2.5. Zagros Licorice Co. (Iran)
9.2.6. VPL Chemicals Pvt. Ltd. (India)
9.2.7. Aushadhi Herbal (India)
9.2.8. Maruzen Pharmaceuticals Co. Ltd. (Japan)
9.2.9. Nutra Green Biotechnology Co., Ltd. (China)
9.2.10. Ransom Naturals Ltd. (UK)
Segmentation of Licorice Extract Powder Market-
Licorice Extract Powder Market- By Form
Licorice Extract Powder Market-By Application
Licorice Extract Powder Market-By Sales Channel
Licorice Extract Powder Market-By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
