The global Licorice Extract Market is projected to grow from USD 1,184.8 million in 2025 to USD 1,250.0 million in 2026, reaching USD 2,135.2 million by 2036, according to the latest market intelligence report published by Future Market Insights (FMI). The market is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2026 to 2036, supported by recurring demand for natural flavoring and sweetening ingredients, expanding botanical applications, and increasing use of standardized licorice-derived compounds in food, nutraceutical, and pharmaceutical products.
Manufacturers are increasingly evaluating licorice extract according to its physical form, grade, marker levels, and suitability for specific applications. Consistent ingredient quality, documented testing methods, and compliance with applicable regulations are expected to remain important considerations for suppliers and commercial buyers throughout the forecast period.
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Market Size & Growth Forecasts
- 2025 Baseline Value: USD 1,184.8 million
- 2026 Estimated Market Size: USD 1,250.0 million
- 2036 Projected Market Value: USD 2,135.2 million
- Growth Rate:5% CAGR (2026–2036)
- Incremental Growth Opportunity: USD 885.2 million between 2026 and 2036
The market includes revenue from licorice extract sold in powder, block, and semi-fluid or paste forms across food, pharmaceutical, and feed grades. The market scope covers defined applications and excludes downstream finished-product revenue and adjacent or substitute ingredient categories.
Key Market Segments
By Form
- Powder: Projected to account for 3% of form demand in 2026, supported by convenient handling and measured dosing in dry production systems.
- Block and Semi-Fluid/Paste: Serve applications requiring different ingredient-feeding, handling, and dispersion methods.
Powder formats can integrate with existing dry-ingredient dosing systems. Buyers nevertheless need to assess moisture content, glycyrrhizin levels, and batch consistency before approving materials for routine production.
By Grade
- Food Grade: Estimated to represent 9% of grade demand in 2026, driven by recurring use in commercial recipes for flavoring and sweetening.
- Pharmaceutical and Feed Grades: Address additional applications subject to their respective quality specifications, intended uses, and applicable regulatory requirements.
Standardized testing and reliable documentation can help manufacturers compare suppliers and evaluate ingredients against their technical and regulatory requirements.
By Application
- Food & Beverages: Expected to account for 9% of application demand in 2026, supported by established use in confectionery, beverages, and other commercial food formulations.
- Other Applications: Pharmaceuticals, tobacco, and additional uses contribute to the market’s application diversity.
The use of licorice extract in small quantities can help manufacturers adjust flavor and sweetness without substantially changing established recipes, supporting repeat purchasing across relevant applications.
By Country and Region
FMI projects the following growth rates for key national markets through 2036:
- United Kingdom: Expected to grow at a 9% CAGR, supported by demand across relevant food, botanical, and regulated product applications.
- United States: Forecast to expand at a 3% CAGR, with established food applications and defined ingredient-use requirements shaping purchasing decisions.
- Mexico: Projected to record a 9% CAGR, with product classification and regulatory documentation influencing commercial access.
- Japan: Expected to grow at a 3% CAGR, supported by established pharmacopoeial standards and botanical ingredient applications.
- South Korea: Forecast to expand at a 5% CAGR, with standardized testing and imported botanical ingredients influencing qualification processes.
- Germany: Projected to register a 9% CAGR, reflecting demand within a market where analytical methods and product specifications are important to regulated purchasing.
The report also covers North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and the Middle East and Africa.
Major Market Trends and Growth Drivers
- Recurring Food and Beverage Demand: Established confectionery and beverage formulations support repeat purchases of licorice extract for flavoring and sweetening applications.
- Growing Interest in Standardized Botanical Ingredients: Demand for products with defined levels of glycyrrhizin, glabridin, and glycyrrhetinic acid is creating opportunities for suppliers offering consistent specifications and appropriate analytical documentation.
- Regulatory Compliance and Product Qualification: Applicable use conditions, dose limits, and quality standards influence ingredient selection. Suppliers that provide clear product identity, test methods, and batch documentation can help customers streamline qualification.
- Advances in Testing and Standardization: Comparable analytical methods can reduce repeated testing and simplify evaluation across supplier batches, supporting more consistent procurement processes.
Competitive Landscape
The Licorice Extract Market includes suppliers serving direct food-formulation requirements, standardized botanical ingredient applications, and purified licorice-derived active compounds. Competition is shaped by product-format breadth, marker standardization, cross-application capabilities, technical documentation, and geographic reach.
Key Companies Profiled Include: MAFCO Worldwide LLC, Norevo GmbH, Huisong Pharmaceuticals, Sabinsa Corporation, Indena S.p.A., Sunpure Extracts Pvt Ltd, and Licorice Extract LLC.
These companies serve different commercial requirements. MAFCO Worldwide LLC, Norevo GmbH, and Licorice Extract LLC supply licorice formats for food and formulation applications. Huisong Pharmaceuticals, Sabinsa Corporation, and Sunpure Extracts Pvt Ltd participate in standardized botanical ingredient markets, while Indena S.p.A. supplies purified licorice-derived active ingredients for pharmaceutical applications.
Recent developments also highlight the growing importance of ingredient standardization. In April 2026, Rohto Pharmaceutical reported acceptance of a functional food using gliasperin B derived from licorice extract powder. In August 2026, L’Oréal Paris published an ingredient entry identifying glabridin and liquiritin in skincare formulations.
Analyst Perspective / Insight: “Increasing application of licorice extract in food, nutraceutical and pharmaceutical products is expected to support the market demand. Manufacturers requires defined physical form and marker levels, due to which suppliers providing proper test method and regulatory documents are likely to gain better opportunities over the forecast period.” — Nandini Roy Choudhury, Principal Consultant, Future Market Insights
For detailed market forecasts, form and end-use segmentation, country-level growth rates and competitive analysis, read Future Market Insights :
https://www.futuremarketinsights.com/reports/licorice-extract-market
About Future Market Insights (FMI)
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