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.
Competitive Landscape
Some of the Major Key Players in the Licorice Extract Powder Market are:
- 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.
- Others
Market Segmentation:
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.
Based On The Application, The Food And Beverages Segment Is Accounted As A Major Contributor To The Licorice Extract Powder Market
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.
Online Segment To Witness Growth At A Rapid Rate
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.
In The Region, The North American Licorice Extract Powder Market Holds A Significant Revenue Share
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.
Licorice Extract Powder Market Report Scope :
|
Report Attribute |
Specifications |
|
Market Size Value In 2024 |
USD 1.9 Bn |
|
Revenue Forecast In 2034 |
USD 4.0 Bn |
|
Growth Rate CAGR |
CAGR of 7.9% from 2025 to 2034 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
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. |
|
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. |
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