The global Liquorice Market Comprehensive Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Grade (Food grade, Feed grade, Pharmaceutical grade), By Application (Food and beverages, Pharmaceuticals, Tobacco, Others)
In 2024, the liquorice market continues to captivate consumers with its distinctive flavor profile and versatile applications in confectionery, herbal remedies, and culinary creations. Liquorice, derived from the root of the Glycyrrhiza plant, boasts a sweet and slightly bitter taste, making it a popular ingredient in candies, chocolates, teas, and liqueurs. Beyond its culinary uses, liquorice is prized for its potential health benefits, including soothing digestive issues, relieving coughs, and promoting hormonal balance. As consumers seek nostalgic treats and natural remedies, liquorice products are experiencing a resurgence in popularity, with artisanal brands and gourmet offerings catering to discerning palates. Moreover, the market is witnessing innovation in liquorice-based products, including sugar-free options, functional snacks, and herbal supplements, appealing to health-conscious consumers seeking indulgence without guilt. In 2024, the liquorice market is poised for continued growth as consumers rediscover the timeless appeal and therapeutic properties of this ancient botanical ingredient.
The market report analyses the leading companies in the industry including AOS Products Pvt. Ltd, Aushadhi Herbal, Avestia Pharma, Beijing Gingko Group, Botanic Healthcare Group, C.E. Roeper GmbH, Extroil Naturals, F and C Licorice Ltd, Glycyrrhiza Glabra Co. Ltd, HB Natural Ingredients, Herbal Creations, Mafco Worldwide LLC, Maruzen Pharmaceutical Co. Ltd, Norevo GmbH, Nutra Green Biotechnology Co. Ltd, Ransom Naturals Ltd, Sepidan Osareh Jonoob Co., Shaanxi FUJIE Pharmaceutical Co. Ltd, Shirin Daru Co. , Zagros Licorice co., and Others.
The market for liquorice is witnessing a prominent trend towards the growing demand for natural and functional ingredients, driven by factors such as increasing consumer interest in herbal remedies, rising awareness of the health benefits of plant-based ingredients, and the desire for clean label products. As consumers seek alternatives to synthetic additives and artificial flavors, there is a heightened demand for liquorice known for its distinctive flavor profile, medicinal properties, and versatility in various applications. This trend is fueled by the popularity of traditional and alternative medicine, wellness trends promoting herbal supplements, and endorsements from health professionals advocating for the use of natural ingredients in dietary and therapeutic products, driving market growth and adoption among health-conscious consumers seeking natural and functional ingredients to support their well-being.
A significant driver behind the market for liquorice is the expansion in the food, beverage, and healthcare industries, driven by factors such as product innovation, changing consumer preferences, and the incorporation of herbal ingredients into formulations. As liquorice offers a unique flavor profile, as well as potential health benefits such as soothing properties for the throat, anti-inflammatory effects, and digestive support, there is a growing demand for its use as a flavoring agent, sweetening agent, and active ingredient in various applications. This driver is further fueled by the popularity of liquorice-infused products such as teas, confectionery, dietary supplements, and skincare remedies, driving market growth and consumption of liquorice as a key ingredient in a wide range of consumer goods and healthcare products.
An opportunity exists for manufacturers of liquorice to explore new applications and market segments to diversify their product offerings and expand market reach. By targeting emerging industries such as functional foods, natural cosmetics, or herbal remedies, manufacturers can tap into growing consumer demand for natural and functional ingredients and create new revenue streams. Moreover, exploring opportunities in niche markets such as pet supplements, aromatherapy products, or herbal beverages can allow manufacturers to differentiate their products and capture market share in specialized segments with high growth potential. This opportunity allows manufacturers to leverage the versatility and popularity of liquorice, meet evolving consumer needs, and establish themselves as leaders in the expanding market for natural and functional ingredients.
In the liquorice market, the food grade segment is the largest and most dominant, driven by its versatile applications across the food and beverage industry. Food grade liquorice is widely used as a flavoring agent and sweetening agent in various confectionery products, beverages, and culinary preparations, owing to its distinctive sweet and earthy taste profile. Additionally, its natural properties make it a popular ingredient in herbal teas, dietary supplements, and traditional medicines, further expanding its market reach. The stringent quality standards and regulatory compliance required for food grade liquorice ensure its safety and purity for consumption, making it the preferred choice among manufacturers and consumers alike. Further, the growing demand for natural and plant-based ingredients in food products fuels the adoption of food grade liquorice as a healthier alternative to artificial sweeteners and flavor enhancers, driving its sustained dominance in the market. As the food industry continues to innovate and cater to evolving consumer preferences, the food grade segment of the liquorice market is poised for continued growth and expansion.
Among the diverse applications of liquorice, the pharmaceuticals sector is experiencing rapid growth, driven by the increasing recognition of liquorice's medicinal properties and its versatile applications in pharmaceutical formulations. Liquorice is renowned for its natural healing properties, including anti-inflammatory, antiviral, and expectorant properties, making it a valuable ingredient in various pharmaceutical products such as cough syrups, herbal supplements, and topical ointments. Further, the growing prevalence of respiratory ailments, digestive disorders, and skin conditions worldwide fuels the demand for liquorice-based pharmaceuticals, as consumers seek natural and holistic remedies. Additionally, ongoing research and development efforts focusing on unlocking the therapeutic potential of liquorice compounds contribute to the expansion of its applications in pharmaceuticals. As the global healthcare industry continues to prioritize natural and plant-based remedies, the pharmaceuticals sector of the liquorice market is poised for sustained growth, making it a key area of focus for industry players and investors alike.
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
AOS Products Pvt. Ltd
Aushadhi Herbal
Avestia Pharma
Beijing Gingko Group
Botanic Healthcare Group
C.E. Roeper GmbH
Extroil Naturals
F and C Licorice Ltd
Glycyrrhiza Glabra Co. Ltd
HB Natural Ingredients
Herbal Creations
Mafco Worldwide LLC
Maruzen Pharmaceutical Co. Ltd
Norevo GmbH
Nutra Green Biotechnology Co. Ltd
Ransom Naturals Ltd
Sepidan Osareh Jonoob Co.
Shaanxi FUJIE Pharmaceutical Co. Ltd
Shirin Daru Co.
Zagros Licorice co.
*- List Not Exhaustive
Chapter 1. TABLE OF CONTENTS
Chapter 2. Introduction to Liquorice Market
2.1. Market Overview
2.2. Key Statistics and Report Highlights
2.3. Scope of the Comprehensive Study
2.3.1. Market Definition
2.3.2 Countries and Regions Covered
2.3.3 Research Objective
2.3.4 Units, Currency, and Conversions
2.3.5 Industry Value Chain
2.4. Key Market Segments
2.5. Key Companies
2.6. Study Period
Chapter 3. Strategic Analysis Review
3.1. Liquorice Pricing Analysis and Forecast
3.2. Porter’s Five Forces
3.3. Market Ecosystem
3.4. SWOT Analysis
3.5. Regulatory Scenario
3.3. Effects of Inflation, Russia-Ukraine War, moderating economic growth, and other macroeconomic factors
Chapter 4. Competitive Landscape
4.1. Market Share Analysis
4.1.1. Global Liquorice Market Share by Company, 2023
4.1.2. Product Offerings of Leading Liquorice Companies
4.2. Market Entropy
4.2.1. New Product Launches in the Industry
4.2.2. Mergers, Acquisitions, Joint ventures, and Partnerships
4.3. Key Strategies and Best Practices
Chapter 5. Global Market Projections: Best, Reference, and Low Case Scenarios
5.1. Growth Analysis- Case Scenario Definitions
5.2. Low Growth Case Scenario Forecasts
5.3. Reference Growth Case Scenario Forecasts
5.4. High Growth Case Scenario Forecasts
Chapter 6. Market Dynamics
6.1. Liquorice Market Drivers
6.2. Liquorice Market Challenges
6.6. Liquorice Market Opportunities
6.4. Liquorice Market Trends
Chapter 7. Global Liquorice Market Outlook Trends
7.1. Global Liquorice Revenue (USD Million) and CAGR (%) by Type (2021-2032)
7.2. Global Liquorice Revenue (USD Million) and CAGR (%) by Application (2021-2032)
7.3. Global Liquorice Revenue (USD Million) and CAGR (%) by Product (2021-2032)
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Chapter 8. Global Liquorice Regional Analysis and Outlook
8.1. Global Liquorice Revenue (USD Million) By Regions (2021- 2032)
8.2. North America Liquorice Revenue (USD Million) by Country (2021-2032)
8.2.1. United States Liquorice Regional Analysis and Outlook
8.2.2. Canada Liquorice Regional Analysis and Outlook
8.2.3. Mexico Liquorice Regional Analysis and Outlook
8.3. Europe Liquorice Revenue (USD Million), by Country (2021-2032)
8.3.1. Germany Liquorice Regional Analysis and Outlook
8.3.2. France Liquorice Regional Analysis and Outlook
8.3.3. United Kingdom Liquorice Regional Analysis and Outlook
8.3.4. Spain Liquorice Regional Analysis and Outlook
8.3.5. Italy Liquorice Regional Analysis and Outlook
8.3.6. Russia Liquorice Regional Analysis and Outlook
8.3.7. Rest of Europe Liquorice Regional Analysis and Outlook
8.4. Asia Pacific Liquorice Revenue (USD Million) by Country (2021-2032)
8.4.1. China Liquorice Regional Analysis and Outlook
8.4.2. Japan Liquorice Regional Analysis and Outlook
8.4.3. India Liquorice Regional Analysis and Outlook
8.4.4. South Korea Liquorice Regional Analysis and Outlook
8.4.5. Australia Liquorice Regional Analysis and Outlook
8.4.6. South East Asia Liquorice Regional Analysis and Outlook
8.4.7. Rest of Asia Pacific Liquorice Regional Analysis and Outlook
8.5. South America Liquorice Revenue (USD Million), by Country (2021-2032)
8.5.1. Brazil Liquorice Regional Analysis and Outlook
8.5.2. Argentina Liquorice Regional Analysis and Outlook
8.5.3. Rest of South America Liquorice Regional Analysis and Outlook
8.6. Middle East and Africa Liquorice Revenue (USD Million) by Country (2021-2032)
8.6.1. Middle East Liquorice Regional Analysis and Outlook
8.6.2. Africa Liquorice Regional Analysis and Outlook
Chapter 9. North America Liquorice Analysis and Outlook
9.1. North America Liquorice Revenue (USD Million) by Segments (2021-2032)
9.1.1. North America Liquorice Revenue (USD Million) by Type (2021-2032)
9.1.2. North America Liquorice Revenue (USD Million) by Application (2021-2032)
9.1.3. North America Liquorice Revenue (USD Million) by Product (2021-2032)
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Chapter 10. Europe Liquorice Analysis and Outlook
10.1. Europe Liquorice Revenue (USD Million), by Segments (USD Million) (2021-2032)
10.1.1. Europe Liquorice Revenue (USD Million) by Type (2021-2032)
10.1.2. Europe Liquorice Revenue (USD Million) by Application (2021-2032)
10.1.3. Europe Liquorice Revenue (USD Million) by Product (2021-2032)
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Chapter 11. Asia Pacific Liquorice Analysis and Outlook
11.1. Asia Pacific Liquorice Revenue (USD Million), and Revenue (USD Million) by Segments (2021-2032)
11.1.1. Asia Pacific Liquorice Revenue (USD Million) by Type (2021-2032)
11.1.2. Asia Pacific Liquorice Revenue (USD Million) by Application (2021-2032)
11.1.3. Asia Pacific Liquorice Revenue (USD Million) by Product (2021-2032)
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Chapter 12. South America Liquorice Analysis and Outlook
12.1. South America Liquorice Revenue (USD Million), by Segments (2021-2032)
12.1.1. South America Liquorice Revenue (USD Million) by Type (2021-2032)
12.1.2. South America Liquorice Revenue (USD Million) by Application (2021-2032)
12.1.3. South America Liquorice Revenue (USD Million) by Product (2021-2032)
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Chapter 13. Middle East and Africa Liquorice Analysis and Outlook
13.1. Middle East and Africa Liquorice Revenue (USD Million), by Segments (2021-2032)
13.1.1. Middle East and Africa Liquorice Revenue (USD Million) by Type (2021-2032)
13.1.2. Middle East and Africa Liquorice Revenue (USD Million) by Application (2021-2032)
13.1.3. Middle East and Africa Liquorice Revenue (USD Million) by Product (2021-2032)
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Chapter 14. Liquorice Company Profiles
14.1 Business Overview
14.2 Product Profiles
14.3 SWOT Profiles
14.5 Recent Developments
14.6 Financial Profile
List of Companies
AOS Products Pvt. Ltd
Aushadhi Herbal
Avestia Pharma
Beijing Gingko Group
Botanic Healthcare Group
C.E. Roeper GmbH
Extroil Naturals
F and C Licorice Ltd
Glycyrrhiza Glabra Co. Ltd
HB Natural Ingredients
Herbal Creations
Mafco Worldwide LLC
Maruzen Pharmaceutical Co. Ltd
Norevo GmbH
Nutra Green Biotechnology Co. Ltd
Ransom Naturals Ltd
Sepidan Osareh Jonoob Co.
Shaanxi FUJIE Pharmaceutical Co. Ltd
Shirin Daru Co.
Zagros Licorice co.
15. Methodology and Data Sources
15.1 Customization Offerings
15.2 Subscription Services
15.3 Related Reports
15.4 Publisher Expertise
LIST OF TABLES
Table 1 Market Segmentation Analysis
Table 2 Global Liquorice Market Share of Leading Companies, 2023
Table 3 Product Offerings of Leading Companies
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Liquorice Revenue (USD Million) And CAGR (%) By Type (2021-2032)
Table 8 Global Liquorice Revenue (USD Million) And CAGR (%) By Application (2021-2032)
Table 9 Global Liquorice Revenue (USD Million) And CAGR (%) By Product (2021-2032)
Table 10 Global Liquorice Market Revenue (USD Million) By Regions (2021-2032)
Table 11 Global Liquorice Market Share (%) By Regions (2021-2032)
Table 12 North America Liquorice Revenue (USD Million) By Country (2021-2032)
Table 13 Europe Liquorice Revenue (USD Million) By Country (2021-2032)
Table 14 Asia Pacific Liquorice Revenue (USD Million) By Country (2021-2032)
Table 15 South America Liquorice Revenue (USD Million) By Country (2021-2032)
Table 16 Middle East and Africa Liquorice Revenue (USD Million) By Region (2021-2032)
Table 17 North America Liquorice Revenue (USD Million) By Type (2021-2032)
Table 18 North America Liquorice Revenue (USD Million) By Application (2021-2032)
Table 19 North America Liquorice Revenue (USD Million) By Product (2021-2032)
Table 20 Europe Liquorice Revenue (USD Million) By Type (2021-2032)
Table 21 Europe Liquorice Revenue (USD Million) By Application (2021-2032)
Table 22 Europe Liquorice Revenue (USD Million) By Product (2021-2032)
Table 23 Asia Pacific Liquorice Revenue (USD Million) By Type (2021-2032)
Table 24 Asia Pacific Liquorice Revenue (USD Million) By Application (2021-2032)
Table 25 Asia Pacific Liquorice Revenue (USD Million) By Product (2021-2032)
Table 26 South America Liquorice Revenue (USD Million) By Type (2021-2032)
Table 27 South America Liquorice Revenue (USD Million) By Application (2021-2032)
Table 28 South America Liquorice Revenue (USD Million) By Product (2021-2032)
Table 29 Middle East and Africa Liquorice Revenue (USD Million) By Type (2021-2032)
Table 30 Middle East and Africa Liquorice Revenue (USD Million) By Application (2021-2032)
Table 31 Middle East and Africa Liquorice Revenue (USD Million) By Product (2021-2032)
LIST OF FIGURES
Figure 1. Market Scope
Figure 2. Pricing Forecasts Per Unit, 2023- 2032
Figure 3. Porter’s Five Forces
Figure 4. Global Liquorice Market Revenue (USD Million) By Regions (2021-2032)
Figure 5. Global Liquorice Market Share (%) By Regions (2023)
Figure 6. North America Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 7. United States Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 8. Canada Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 9. Mexico Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 10. Europe Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 11. Germany Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 12. France Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 13. United Kingdom Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 14. Spain Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 15. Italy Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 16. Russia Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 17. Rest of Europe Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 11. Asia Pacific Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 12. China Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 13. Japan Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 14. India Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 15. South Korea Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 16. Australia Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 17. South East Asia Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 18. South America Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 19. Brazil Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 20. Argentina Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 21. Rest of Asia Pacific Liquorice Revenue (USD Million) By Country (2021-2032)
Figure 22. Middle East and Africa Liquorice Revenue (USD Million) By Region (2021-2032)
Figure 23. Saudi Arabia Liquorice Revenue (USD Million) By Region (2021-2032)
Figure 24. The UAE Liquorice Revenue (USD Million) By Region (2021-2032)
Figure 25. Rest of Middle East Liquorice Revenue (USD Million) By Region (2021-2032)
Figure 26. South Africa Liquorice Revenue (USD Million) By Region (2021-2032)
Figure 27. Africa Liquorice Revenue (USD Million) By Region (2021-2032)
Figure 28. North America Liquorice Revenue (USD Million) By Type (2021-2032)
Figure 29. North America Liquorice Revenue (USD Million) By Application (2021-2032)
Figure 30. North America Liquorice Revenue (USD Million) By Product (2021-2032)
Figure 31. Europe Liquorice Revenue (USD Million) By Type (2021-2032)
Figure 32. Europe Liquorice Revenue (USD Million) By Application (2021-2032)
Figure 33. Europe Liquorice Revenue (USD Million) By Product (2021-2032)
Figure 34. Asia Pacific Liquorice Revenue (USD Million) By Type (2021-2032)
Figure 35. Asia Pacific Liquorice Revenue (USD Million) By Application (2021-2032)
Figure 36. Asia Pacific Liquorice Revenue (USD Million) By Product (2021-2032)
Figure 37. South America Liquorice Revenue (USD Million) By Type (2021-2032)
Figure 38. South America Liquorice Revenue (USD Million) By Application (2021-2032)
Figure 39. South America Liquorice Revenue (USD Million) By Product (2021-2032)
Figure 40. Middle East and Africa Liquorice Revenue (USD Million) By Type (2021-2032)
Figure 41. Middle East and Africa Liquorice Revenue (USD Million) By Application (2021-2032)
Figure 42. Middle East and Africa Liquorice Revenue (USD Million) By Product (2021-2032)
By Grade
Food grade
Feed grade
Pharmaceutical grade
By Application
Food and beverages
Pharmaceuticals
Tobacco
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Liquorice Market Size is valued at $1.8 Billion in 2024 and is forecast to register a growth rate (CAGR) of 5.4% to reach $2.7 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
AOS Products Pvt. Ltd, Aushadhi Herbal, Avestia Pharma, Beijing Gingko Group, Botanic Healthcare Group, C.E. Roeper GmbH, Extroil Naturals, F and C Licorice Ltd, Glycyrrhiza Glabra Co. Ltd, HB Natural Ingredients, Herbal Creations, Mafco Worldwide LLC, Maruzen Pharmaceutical Co. Ltd, Norevo GmbH, Nutra Green Biotechnology Co. Ltd, Ransom Naturals Ltd, Sepidan Osareh Jonoob Co., Shaanxi FUJIE Pharmaceutical Co. Ltd, Shirin Daru Co. , Zagros Licorice co.
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume