Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Licorice Root Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Expected Market Growth Rates for the Licorice Root Market?
The market size of the licorice root has demonstrated robust growth. The value of this market is projected to increase from $3.04 billion in 2024 to $3.24 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%.
What Are the Expected Market Growth Trends for the Licorice Root Market Through 2029?
In 2029, the global licorice root market is projected to reach a value of $4.25 billion, growing at a compound annual growth rate (CAGR) of 7.0%.
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What Are the Key Business Drivers in the Licorice Root Market Landscape?
The key drivers in the licorice root market are:
• Rising demand for licorice root in the pharmaceutical industry
• Growth in global healthcare access and pharmaceutical development
• Increasing usage of licorice root for its medicinal properties in treatments
• Surge in the usage of branded medicines contributing to the licorice root market
How Is the Licorice Root Market Divided Across Key Categories?
The licorice rootmarket covered in this report is segmented –
1) By Product Type: Essential Oils, Liquid Malt Extract, Oleoresins, Herbs And Spices Dry Malt Extract, Malt Flour
2) By Product Form: Roots, Extracts
3) By Grade Type: Essential Standard Malt, Caramelized Malt, Roasted Malt
4) By Function Type: Performance Enhancers, Palatability Enhancers
5) By End User: Food And Beverage Industry, Tobacco Industry, Pharmaceutical Industry, Cosmetic Industry, Dietary Supplements
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What Are the Ongoing Trends in the Licorice Root Market?
The key trends in the licorice root market are:
• A trend towards obtaining authentic licorice root for unique flavors and health benefits is noticeable among major companies.
• The use of real licorice root or its pure extracts in products is an emerging trend.
• There is an increasing interest in maintaining traditional and natural preparation methods within the market.
• Market players are investing in maintaining high-quality standards, transparency, and desired health benefits.
Which Companies are Expanding in the Licorice Root Industry?
Major players in the licorice root market are:
• S.r Organic
• Sarv Biolabs Pvt Ltd
• Finzelberg GmbH & Co. KG
• Maruzen Pharmaceuticals Co Ltd.
• American Licorice Company
• Beloorbayir Biotech Ltd.
• Geo Fresh Organic Privated Limited
• Nanjing Zelang Medical Technology Co. Ltd.
• Jiangsu Tiansheng Pharmaceutical Co. Ltd.
• Mafco Worldwide LLC
• Norevo GmbH
• VPL Chemicals Pvt Ltd.
• Athos Lifesciences Pvt. Ltd.
• Bio-Gate AG
• PharmaCompass,
• Ransom Naturals Ltd.
• ASEH Licorice MFG & Exp. Co
• Rainbow Expochem Company
• Windson Organic Pvt Ltd
• F&C Licorice Ltd
Which is the Largest Region the Global Licorice Root Market?
North America was the largest region in the licorice root market in 2024
