Licorice Extract Market

How big is Licorice Extract Market in 2026?

USD 1.3 billion in 2026 and USD 2.2 billion by 2036 at a 5.5% CAGR.

Demand for licorice extract is projected to rise from USD 1.3 billion in 2026 to USD 2.2 billion by 2036 at 5.5% CAGR during the forecast period. Licorice extract has a defined commercial role in food formulations and regulated herbal preparations that require repeatable ingredient specifications. FDA's July 28, 2026, food-substance record identifies licorice extract as a flavoring agent or adjuvant under 21 CFR 184.1408. The federal listing gives food formulators a recognized use route but leaves glycyrrhizin control and application limits with the finished-product manufacturer.

Qualification burden diverges materially by country despite the same licorice extract serving a defined technical function. Germany requires more contaminant scrutiny than the United States because BVL found quantifiable matrine in 30 of 35 licorice samples during its 2023 monitoring project. The report published March 18, 2025, recorded a maximum matrine concentration of 0.26 mg/kg in licorice. The residue record increases the value of origin documentation and release testing before German customers accept a previously qualified specification.

Key Takeaways of Licorice Extract Market

• Food and herbal formulators reorder licorice extract after the assay range and botanical identity fit a validated finished-product specification.
• By form, powder is estimated to hold 48.3% in 2026 owing to dry dosing that limits handling variation during routine blending.
• In 2026, food is expected to lead grade with 45.9% share because recognized flavoring uses support repeat commercial specifications.
• Food & beverages are projected to hold 32.0% share in 2026 due to repeated recipe use in flavoring and sweetening applications.
• Glycyrrhizin exposure limits and botanical residue controls increase testing work before one specification can serve several finished-product categories.
• Some of the key players in this market include MAFCO Worldwide LLC, Ransom Naturals Limited, BGM Group Ltd, Natural Remedies Private Limited, Yangling Dailyhealth Bio-Engineering Technology Co., Ltd., LLC "ZELYONIE RASTENIYA IZVLECH", Sunnycare Inc, and Shri Ahimsa Naturals Limited.

Analyst Perspective

"Food and pharmaceutical customers do not evaluate licorice extract solely on concentration or the quoted unit price. Commercial value rises provided that glycyrrhizin, physical form, and release records stay stable enough to avoid repeating qualification work."

- Nandini Roy Choudhury, Principal Consultant, Future Market Insights

How is the Licorice Extract Market segmented?

The licorice extract market is segmented by form, grade, application, and region.

Form covers powder, block, and semi-fluid/ paste. Grade includes food, pharmaceutical, and feed. Application covers food & beverages, pharmaceuticals, tobacco, and others. Regional analysis spans North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and the Middle East and Africa.

Why do Food & Beverages lead the Application category?

Food and beverage formulators use licorice extract where one ingredient must provide a defined flavor or sweetening function without changing the finished product's main identity. Botanical extracts become easier to reorder after a recipe has cleared internal sensory and release testing. MFDS issued a January 13, 2026 import record for seasoned salmon roe that lists licorice extract among the declared ingredients.

• By application, food & beverages are forecast to represent 32.0% in 2026 driven by repeated recipe use in approved flavor systems.
• Manufacturers prefer specifications that preserve sensory intensity during storage because reformulation costs increase after a finished recipe passes internal release testing.

Why does Powder lead the Form category?

Powder fits dry metering systems and premixes that require controlled flow before the final blending step. Natural food flavors also depend on dosing accuracy because small concentration changes alter sensory output and batch records. FDA's July 28, 2026 powder record identifies flavoring and non-nutritive sweetening functions for licorice extract powder.

• By form, the powder segment is estimated to hold 48.3% in 2026 owing to dry handling that reduces dosing variation in routine industrial blending.
• Production teams can release powder into premixes faster after incoming tests confirm the agreed identity and marker range for a validated recipe.

Why does Food lead the Grade category?

Food-grade extract serves the widest routine flavor and sweetness specifications because finished-food plants can standardize one assay range for repeated recipes. Its commercial fit overlaps with functional food ingredients that must preserve composition records through repeat lot approval. FDA's July 28, 2026 licorice record identifies flavor-enhancing and flavoring functions under 21 CFR 184.1408.

• In 2026, food is expected to lead grade with 45.9% share because commercial food production uses repeat flavor specifications.
• Food manufacturers can qualify more routine recipes than pharmaceutical plants and still require botanical identity plus glycyrrhizin limits for each approved commercial specification.

What are the drivers, restraints and opportunities in the licorice extract market?

Documented food and herbal uses sustain repeat purchasing, glycyrrhizin and residue controls slow qualification, and stable specifications support higher-value account retention.

• Driver: Food and herbal formulators reorder licorice extract after a defined specification meets the intended flavor or medicinal application.
• Restraint: Glycyrrhizin limits and botanical residue checks narrow usable inclusion ranges and increase analytical work before each lot receives commercial release.
• Opportunity: Manufacturers that keep assay ranges and identity records consistent can shorten customer requalification and retain longer purchasing programs.

Defined food and herbal uses sustain repeat purchasing

Licorice extract has repeat demand because food and herbal applications already specify what the ingredient must do. EMA published its revised liquorice-root monograph on July 20, 2026 with cough and cold plus gastrointestinal therapeutic areas retained in the assessment. The revised monograph keeps a regulated medicinal route visible for herbal medicinal products and gives extract manufacturers a reason to maintain stable identity records beside food-grade specifications.

Marker and residue controls lengthen qualification

Qualification slows after customers must reconcile glycyrrhizin exposure with botanical residue limits for the intended finished product. BVL's March 18, 2025 national report states a 0.01 mg/kg general maximum residue level for matrine and oxymatrine in the monitored licorice products. Food additives manufacturers therefore need lot-specific analytical results before accepting raw material as equivalent to a previously qualified commercial supply.

Stable specifications convert approval work into account retention

Manufacturers can retain accounts longer if customers do not need to repeat the same release checks after each shipment. The MHRA's April 21, 2026 fee schedule retains a dedicated Traditional Herbal Registration Scheme application category for herbal medicines. Functional foods and medicinal accounts therefore reward extract producers that preserve extraction records and assay methods between deliveries because stable documentation shortens repeat-purchase review.

Which country CAGRs are profiled in the licorice extract market?

Country	CAGR
UK	6.9%
USA	6.3%
Mexico	5.9%
Japan	5.4%
South Korea	4.5%
Germany	3.9%

How do country-level CAGRs compare in the licorice extract market?

Country outlook spans 3.0 percentage points from the UK at 6.9% to Germany at 3.9%. The UK and USA remain above the global rate while Mexico and Japan cluster around it. South Korea and Germany progress more slowly as local exposure rules and documentation requirements narrow specification flexibility.

• UK herbal registrations reward dossier continuity over small ingredient-price differences.
• USA food rules recognize licorice extract despite stricter substantiation under the proposed GRAS reform.
• Mexico public tenders expose botanical identity requirements before public purchase.
• Japan separates specified glycyrrhiza excipient uses from broader impurity controls.
• South Korean import filings expose ingredient identity and overseas manufacturer details.
• German residue monitoring makes lot documentation central before a licorice extract specification moves into repeat food production.

Similar CAGRs therefore convert into different selling conditions under each country’s qualification route. The full report provides country-level CAGR analysis across North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Africa.

Country-wise Analysis

• UK herbal-medicine manufacturers work through the Traditional Herbal Registration route before a licorice preparation reaches routine commercial sale. The UK licorice extract sector is projected to record 6.9% CAGR during the assessment period because registered herbal products preserve a defined route for qualified botanical inputs. MHRA updated its list of medicines holding THR status on October 28, 2025 and kept a public register of approved products. The route favors extract manufacturers that provide stable identity records and timely dossier support. Registration work lengthens the selling cycle because a specification change can trigger additional review before the finished product proceeds. Local customers therefore value document continuity during registration more than a small ingredient-price saving.
• US-based food manufacturers can use a federal licorice-extract category that already defines flavoring use under 21 CFR 184.1408. FDA proposed mandatory notification for certain new GRAS uses on August 10, 2026 and stated that the change would increase information available for safety oversight. Licorice extract demand in the USA is forecast to rise at 6.3% CAGR over the forecast period tied to codified food use and tighter substantiation expectations. Naturally derived sweeteners can enter the same formulation review during comparisons of sweetness contribution against declared technical function. The constraint is documentation workload because new uses may require more formal support before commercial launch.
• Public-health purchasing can specify botanical identity before plant material enters a traditional-medicine program. Mexico is estimated to post 5.9% CAGR over the forecast period given the presence of both food and herbal channels for documented licorice inputs. Puebla's July 2025 tender listed Glycyrrhiza glabra and required sanitization plus taxonomic identification certificates for the material. Nutraceutical ingredients sold through private channels face a different test because distributors compare usable concentration against landed cost and inventory depth. Private accounts remain price-sensitive despite institutional preference for traceability. Extract manufacturers therefore need separate commercial offer structures for public tenders and routine commercial distribution.
• In Japan, pharmaceutical manufacturers classify glycyrrhiza by its exact role inside the finished medicine and apply pharmacopoeial controls accordingly. PMDA's March 2025 translation states that products using glycyrrhiza extract or powdered glycyrrhiza as sweetening or flavoring agents can fall outside a specified elemental-impurity scope. Adoption of licorice extract in Japan is estimated to expand at 5.4% CAGR through 2036 attributable to a defined regulatory treatment for those uses. Local customers still expect assay methods and release records to match their own pharmaceutical specification. The slower modelled CAGR does not remove demand for higher-documentation grades because disciplined qualification can preserve value per approved account.
• Importers rely on product-level filings that identify the overseas manufacturer and declared ingredients before commercial distribution begins. Licorice extract sales in South Korea are forecast to expand at 4.5% CAGR by 2036 supported by food and health-product applications with documented ingredient lists. MFDS issued an import record on April 9, 2026, for UC CON-M and listed licorice extract among the formulation's ingredients. Nutraceuticals entering this channel need complete declarations that match the imported product and the named foreign manufacturer. Repeat orders depend on document continuity because a changed ingredient record can disrupt importer preparation even after commercial demand is present.
• German licorice extract buyers place residue control beside assay consistency because both factors determine whether a specification can enter food production. BVL published March 2025 results showing all 30 licorice samples with quantifiable matrine exceeded the 0.01 mg/kg general maximum residue value. That result makes documentation commercially relevant before manufacturers commit a new origin to recurring recipes. German licorice extract demand is projected to grow at 3.9% CAGR through 2036 as food and herbal applications retain controlled use. Qualification remains slower because buyers need release data that connects extract identity with residue status and intended dosage for repeat customers.

Who are the notable companies in the licorice extract market?

MAFCO Worldwide LLC, Ransom Naturals Limited, BGM Group Ltd, Natural Remedies Private Limited, Yangling Dailyhealth Bio-Engineering Technology Co., Ltd., LLC "ZELYONIE RASTENIYA IZVLECH", Sunnycare Inc, and Shri Ahimsa Naturals Limited are the notable companies serving this market.

Competition depends on licorice-specific manufacturing records and current qualification evidence more than corporate scale alone. MAFCO documents several commercial licorice formats whereas Ransom carries current UK active-substance registration for liquorice liquid extract. The company set also overlaps with botanical ingredients because certification and regulator import records determine whether a named licorice extract clears commercial qualification.

• MAFCO Worldwide LLC and Ransom Naturals Limited document licorice processing routes with current qualification or regulatory records.
• BGM Group Ltd, Sunnycare Inc, and Shri Ahimsa Naturals Limited document licorice extract through current filings or product-specific certification.
• Natural Remedies Private Limited, Yangling Dailyhealth Bio-Engineering Technology Co., Ltd., and LLC "ZELYONIE RASTENIYA IZVLECH" have regulator-recorded licorice extract shipments into South Korea.

Competitive Benchmarking: Licorice Extract Market

Company	Verified Extract-Form Evidence	Regulated Market Evidence	2025-2026 Record Depth	Geographic Reach
MAFCO Worldwide LLC	Medium	Medium	Medium	North America and Europe
Ransom Naturals Limited	Low	High	High	United Kingdom
BGM Group Ltd	Medium	Low	High	China
Natural Remedies Private Limited	Low	Medium	Low	India and South Korea
Yangling Dailyhealth Bio-Engineering Technology Co., Ltd.	Low	Medium	Low	China and South Korea
LLC "ZELYONIE RASTENIYA IZVLECH"	Low	Medium	High	Uzbekistan and South Korea
Sunnycare Inc	Low	Medium	High	China
Shri Ahimsa Naturals Limited	Low	High	High	India

Scoring basis: High format evidence requires at least three verified licorice forms while Medium requires two and Low identifies one. High regulated evidence requires a manufacturing registration, GMP certificate, or equivalent licorice-specific control. Medium reflects a regulator import record or product certification and Low reflects a current corporate filing. Ratings use regulator records, SEC filings, and third-party certification records that explicitly name licorice extract or a directly relevant licorice preparation.

Key Developments in the Licorice Extract Market

• In January 2025, BGM Group Ltd filed its annual report on Form 20-F and documented Qilian Shan licorice extract plus liquid extract within its operating portfolio.
• In June 2025, Ransom Naturals Limited completed an MHRA GMP inspection at its Hitchin active-substance manufacturing site under current regulated oversight.
• In March 2025, LLC "ZELYONIE RASTENIYA IZVLECH" received a South Korean MFDS import record for LICORICE S as a licorice extract preparation manufactured in Uzbekistan.

Key Players in the Licorice Extract Market

Regulated manufacturing and current filing evidence

• Ransom Naturals Limited
• BGM Group Ltd
• Shri Ahimsa Naturals Limited

Certified licorice ingredient manufacturers

• MAFCO Worldwide LLC
• Sunnycare Inc

Regulator-recorded export manufacturers

• Natural Remedies Private Limited
• Yangling Dailyhealth Bio-Engineering Technology Co., Ltd.
• LLC "ZELYONIE RASTENIYA IZVLECH"

Licorice Extract Market - Report Scope

Coverage field	Report scope
Market breakdown	By form, grade, application, and region.
Quantitative Units	USD Billion.
Market Definition	Commercial licorice extracts derived from Glycyrrhiza roots or rhizomes and sold in powder, block, or semi-fluid/ paste forms for food, pharmaceutical, feed, tobacco, and other qualified applications.
Regions Covered	North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa.
Countries Covered	UK, USA, Mexico, Japan, South Korea, and Germany, and 20+ countries included in the full report.
Key Companies Profiled	MAFCO Worldwide LLC, Ransom Naturals Limited, BGM Group Ltd, Natural Remedies Private Limited, Yangling Dailyhealth Bio-Engineering Technology Co., Ltd., LLC "ZELYONIE RASTENIYA IZVLECH", Sunnycare Inc, and Shri Ahimsa Naturals Limited.
Forecast Period	2026 to 2036.
Approach	Primary and secondary research with market triangulation.

Licorice Extract Market - Research Methodology

Method	Approach
Primary Research	FMI analysts gathered input from manufacturers, service providers, technology developers, distributors, end users, procurement teams, and subject-matter experts. Interviews examined purchasing decisions, product or service evaluation, adoption barriers, approval requirements, pricing considerations, and expectations for technical or commercial support. Respondents were also asked what evidence is required before a trial, pilot, or initial order develops into regular purchasing.
Desk Research	Desk research covered government statistics, regulatory publications, trade data, industry associations, technical literature, standards, company filings, product information, and official corporate announcements. Sources were reviewed for relevance, publication date, geographic coverage, and consistency with the defined market scope. Claims relating to performance, applications, approvals, capacity, investment, and commercial activity were retained only when supported by credible public evidence.
Market Sizing and Forecasting	The market model combined the baseline value with historical performance, segment structure, pricing and volume indicators, adoption levels, company participation, and country-level demand conditions. Forecast assumptions considered economic activity, investment trends, regulatory developments, technology adoption, purchasing cycles, supply availability, and barriers to wider market use. Segment and regional estimates were reconciled before the final market total was calculated.
Data Validation	Estimates were checked against multiple independent indicators, including public data, company activity, trade patterns, industry developments, and findings from primary interviews. Validation also tested whether products, services, applications, and company revenues fell within the defined market boundaries. Adjacent categories, unsupported claims, overlapping revenues, and activities without direct market relevance were excluded to reduce double counting and maintain consistency across segments and countries.

Licorice Extract Market by Segments

Licorice Extract Market segmented by Form:

• Powder
• Block
• Semi-fluid/ Paste

Licorice Extract Market segmented by Grade:

• Food
• Pharmaceutical
• Feed

Licorice Extract Market segmented by Application:

• Food & Beverages
• Pharmaceuticals
• Tobacco
• Others

Licorice Extract Market by Region:

• North America
  • United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
• Western Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Benelux
  • Nordics
• Eastern Europe
  • Poland
  • Czech Republic
  • Romania
  • Hungary
• East Asia
  • China
  • Japan
  • South Korea
• South Asia and Pacific
  • India
  • ASEAN
  • Australia and New Zealand
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Türkiye
  • Israel

Research Sources and Bibliography

• USA Food and Drug Administration. (2026, July 28). Substances Added to Food: Licorice extract (Glycyrrhiza spp.).
• USA Food and Drug Administration. (2026, July 28). Substances Added to Food: Licorice extract powder (Glycyrrhiza spp.).
• USA Food and Drug Administration. (2026, July 28). Substances Added to Food: Licorice (Glycyrrhiza spp.).
• USA Food and Drug Administration. (2026, August 10). Generally Recognized as Safe (GRAS).
• Bundesamt für Verbraucherschutz und Lebensmittelsicherheit. (2025, March 18). Nationale Berichterstattung Pflanzenschutzmittelrückstände in Lebensmitteln 2023.
• European Medicines Agency. (2026, July 20). Liquiritiae radix - herbal medicinal product.
• Medicines and Healthcare products Regulatory Agency. (2025, October 28). Herbal medicines granted a traditional herbal registration (THR).
• Medicines and Healthcare products Regulatory Agency. (2026, April 21). Current MHRA fees.
• Medicines and Healthcare products Regulatory Agency. (2025, June 2). UK API 39937 Insp GMP 39937/345063-0012: Ransom Naturals Limited.
• Medicines and Healthcare products Regulatory Agency. (2026, May 12). UK API 39937: Ransom Naturals Limited.
• Pharmaceuticals and Medical Devices Agency. (2025, March). Provisional Translation by Japanese Pharmacopoeia Secretariat: Question and Answer about Handling of Elemental Impurities.
• Gobierno del Estado de Puebla. (2025, July). Licitación Pública Nacional GEP-SPFA-LPN-159-468/2025.
• Ministry of Food and Drug Safety. (2026, January 13). Import record: Frozen seasoned salmon roe.
• Ministry of Food and Drug Safety. (2026, April 9). Import record: UC CON-M.
• Ministry of Food and Drug Safety. (2025, June 23). Import record: Flavonoid Rich Licorice Extract - Natural Remedies Private Limited.
• Ministry of Food and Drug Safety. (2025, July 8). Import record: Glycyrrhiza glabra extract_D - Yangling Dailyhealth Bio-Engineering Technology Co., Ltd.
• Ministry of Food and Drug Safety. (2025, March 11). Import record: LICORICE S (Licorice Extract) - LLC ZELYONIE RASTENIYA IZVLECH.
• Ministry of Food and Drug Safety. (2026, April 23). Import record: LICORICE S (Licorice Extract) - LLC ZELYONIE RASTENIYA IZVLECH.
• BGM Group Ltd. (2025, January 27). Annual report on Form 20-F for the year ended September 30, 2024.
• BGM Group Ltd. (2026, July 21). Annual report on Form 20-F for the year ended September 30, 2025.
• Shandong Halal Certification Service. (2025, July 22). Halal certificate attachment: Sunnycare Inc.
• Kashrut Division of the London Beth Din. (2025, September 2). Kosher certificate: Sunnycare Inc.
• MAFCO Worldwide LLC. (2024, March 14). Annual report filing describing licorice extract products and formats.
• KOF-K Kosher Supervision. (2025, October 5). Kosher certificate - MAFCO MAGNASWEET 100F.
• Halal Certification Services India Private Limited. (2025, August 26). Halal product certificate: Shri Ahimsa Naturals Limited.
• MAP Certifications Pvt. Ltd. (2025, December 2). WHO-GMP certificate of registration: Shri Ahimsa Naturals Limited.

This bibliography is provided for reader reference and is not exhaustive. The full report contains the complete reference list and detailed citations

This Report Answers

• How large is the licorice extract market in 2026 and what value is projected for 2036?
• Which formulation and regulatory conditions support repeat licorice extract purchasing?
• Why does powder account for 48.3% of form demand in 2026?
• Why does food grade represent 45.9% of grade demand in 2026?
• Why do food & beverages hold 32.0% of application demand in 2026?
• How do the five profiled country CAGRs differ through 2036?
• Which local qualification frictions affect the UK, USA, Mexico, Japan, and South Korea?
• Which companies have current evidence of licorice extract production or regulator-recorded supply?
• How do leading companies compare on format breadth, regulated application evidence, and current qualification records?