QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report “Licorice Extract- Global Market Share and Ranking, Overall Sales and Demand Forecast 2026-2032”. Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2026-2032), this report provides a comprehensive analysis of the global Licorice Extract market, including market size, share, demand, industry development status, and forecasts for the next few years.
The global market for Licorice Extract was estimated to be worth US$ 567 million in 2025 and is projected to reach US$ 896 million, growing at a CAGR of 6.9% from 2026 to 2032.
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Product Overview and Scope of Licorice Extracts
Licorice extract is a natural active ingredient extracted from the licorice plant, with both medicinal and food applications. It is rich in glycyrrhizic acid, glycyrrhizin, and glycyrrhizin flavonoids, and possesses various health benefits, including invigorating the spleen and replenishing qi, clearing heat and detoxifying, relieving phlegm and cough, and alleviating pain. In skincare products, its antioxidant, whitening, and anti-inflammatory effects are highly regarded.
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.
Licorice Extracts Market Summary
According to the new market research report “Global Licorice Extracts Market Report 2025-2030”, published by QYResearch, the global Licorice Extracts market size is projected to reach USD 0.84 billion by 2030, at a CAGR of 6.9% during the forecast period.
Figure00001. Global Licorice Extracts Market Size (US$ Million), 2020-2031
Above data is based on report from QYResearch: Global Licorice Extracts Market Report 2025-2031 (published in 2025). If you need the latest data, plaese contact QYResearch.
Figure00002. Global Licorice Extracts Top 14 Players Ranking and Market Share (Ranking is based on the revenue of 2025, continually updated)
Above data is based on report from QYResearch: Global Licorice Extracts Market Report 2025-2031 (published in 2025). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Licorice Extracts include Norevo GmbH, Mafco Worldwide, Gansu Fanzhi Pharmaceutical, Hongyufeng Biotechnology, F&C Licorice, Ransom Naturals, Qinghai Blicsweet Licorice Technology Development, Xinjiang Longhuiyuan Pharmaceutical, Maruzen Pharmaceuticals, Agrolic Impex, etc. In 2023, the global top five players had a share approximately 38.0% in terms of revenue.
Figure00003. Licorice Extracts, Global Market Size, Split by Product Segment
Based on or includes research from QYResearch: Global Licorice Extracts Market Report 2025-2031.
In terms of product type, currently Pharmaceutical Grade is the largest segment, hold a share of 39.7%.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Licorice Extract market is segmented as below:
By Company
Magnasweet
ASEH
Zagros Licorice
Sepidan Osareh
FandC Licorice
Norevo GmbH
Ransom Naturals
Maruzen Pharmaceuticals
MCFS
Aushadhi Herbal
Avestia Pharma
VPL Chemicals
Zelang
Changyue
Bokai
Segment by Type
Pharmaceutical Grade
Food Grade
Feed Grade
Segment by Application
Pharmaceutical
Food
Cosmetic
Others
Each chapter of the report provides detailed information for readers to further understand the Licorice Extract market:
Chapter 1: Introduces the report scope of the Licorice Extract report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2021-2032)
Chapter 2: Detailed analysis of Licorice Extract manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2021-2026)
Chapter 3: Provides the analysis of various Licorice Extract market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2021-2032)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2021-2032)
Chapter 5: Sales, revenue of Licorice Extract in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2021-2032)
Chapter 6: Sales, revenue of Licorice Extract in country level. It provides sigmate data by Type, and by Application for each country/region.(2021-2032)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2021-2026)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Licorice Extract competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Licorice Extract comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Licorice Extract market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
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