The global Liquorice Extract market is witnessing significant growth, driven by its diverse applications across multiple industries, including pharmaceuticals, food, cosmetics, and animal feed. The extract, derived from the root of the liquorice plant, is valued for its medicinal properties, flavoring capabilities, and functional benefits in various products.
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As of 2023, the global Liquorice Extract market was estimated at USD 512 million. It is projected to reach USD 894.84 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.40% during the forecast period.
The North America Liquorice Extract market was valued at USD 148.45 million in 2023, with a projected CAGR of 5.49% from 2025 through 2032, indicating steady demand in the region.
Pharmaceutical Grade
Used in medicinal formulations for treating respiratory ailments, digestive disorders, and inflammation.
High demand in traditional and modern medicine.
Food Grade
Primarily utilized as a natural sweetener and flavor enhancer.
Popular in confectionery, beverages, and baked goods.
Feed Grade
Incorporated into animal feed for its anti-inflammatory and digestive health benefits.
Helps improve livestock well-being and productivity.
Pharmaceutical Industry
Liquorice extract is widely used in cough syrups, digestive medicines, and anti-inflammatory treatments.
Recognized for its antiviral, antibacterial, and antioxidant properties.
Food Industry
Enhances flavors in confectionery, beverages, and dairy products.
Increasing use in functional foods due to health benefits.
Cosmetic Industry
Found in skincare products for its anti-inflammatory and skin-brightening properties.
Used in formulations for treating hyperpigmentation and sensitive skin conditions.
Feed Industry
Used in livestock and pet nutrition for its health-boosting properties.
Helps improve gut health and immune function in animals.
Others
Includes applications in herbal medicine, tobacco products, and nutraceuticals.
Rising Demand for Natural Ingredients: Increased consumer preference for plant-based and clean-label products.
Expanding Pharmaceutical Applications: Growing use of liquorice extract in herbal and traditional medicine.
Growth in Functional Foods & Beverages: Surge in demand for natural sweeteners and flavor enhancers.
Advancements in Cosmetic Formulations: Increasing incorporation in anti-aging and skin-care products.
Supply Chain Constraints: Seasonal availability and dependency on specific geographic regions.
Regulatory Hurdles: Stringent food and drug safety regulations affecting market entry.
Potential Health Risks: Overconsumption linked to blood pressure issues and other health concerns.
Innovation in Extraction Methods: Enhanced extraction processes improving yield and purity.
Strategic Partnerships: Collaboration between manufacturers and end-user industries for product development.
Sustainable Sourcing Initiatives: Growing focus on ethical and environmentally friendly sourcing practices.
The Liquorice Extract market is poised for steady growth, driven by increasing consumer awareness, technological advancements, and expansion in emerging markets. Future innovations in natural product formulations, personalized nutrition, and herbal medicine will shape the industry landscape.
The global liquorice extract market was valued at $512 million in 2023 and is expected to reach $894.84 million by 2032, growing at a CAGR of 6.4% during the forecast period.
In North America, the market was valued at $148.45 million in 2023 and is expected to grow at a CAGR of 5.49% through 2032.
The market is segmented by type and application:
By Type:
By Application:
Key factors include: