Global Licorice Extract Market Strategic Research Report

Scope of the Report

The global Licorice Extract market size is predicted to grow from US$ 583 million in 2025 to US$ 914 million in 2032; it is expected to grow at a CAGR of 6.7% from 2026 to 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 presents a comprehensive overview of the global Licorice Extract market, covering market size and forecast, segmentation by product type and application, competitive landscape, leading players and regional and country-level outlook.

Segment by Type

• Pharmaceutical Grade
• Food Grade
• Feed Grade

Segment by Extraction Methods

• Water Extraction
• Alcohol Extraction
• Supercritical CO₂ Extract
• Other

Segment by Product Physical Form

• Concentrated Extract
• Spray-Dried Powder
• Block Extract
• Other

Segment by Application

• Pharmaceutical
• Food
• Cosmetic
• Others

Who Can Use This Report?

This report is written for decision-makers who need a clear, data-backed view of the global Licorice Extract market:

• Manufacturers, suppliers and solution providers benchmarking their position and planning product, capacity and go-to-market strategy
• Distributors, channel partners and end users in Pharmaceutical, Food, Cosmetic evaluating demand and sourcing options
• Investors, financial analysts and consultants assessing growth opportunities, competitive dynamics and M&A potential
• Government agencies, industry associations and research institutions tracking industry developments and policy impact