Licorice Root Market

How big is Licorice Root Market in 2026?

USD 1.1 billion in 2026 and USD 1.8 billion by 2036 at a 5.0% CAGR.

Licorice root demand is projected to grow from USD 1.1 billion in 2026 to USD 1.8 billion by 2036 at a 5.0% CAGR. Food formulators use extract formats because they can meter sweetness and flavor effects without processing whole root at the plant. The FDA's July 2026 Substances Added to Food inventory lists licorice extract powder for flavoring and non-nutritive sweetening under 21 CFR 184.1408. That defined use gives botanical extracts market manufacturers a clearer specification route for USA formulation programs.

Country demand splits most sharply where the tobacco base is shrinking faster than non-tobacco applications can replace it. The Office for National Statistics reported in November 2025 that 10.6% of UK adults smoked cigarettes in 2024. That decline makes flavoring agents market access more important for processors that previously relied on cigarette formulations.

Key Takeaways of Licorice Root Market

• Demand rises when processors convert variable licorice roots into extract grades with defined sweetness and active-content ranges for repeat industrial use.
• By product form, extracts are estimated to hold 40.4% in 2026 owing to easier metering and tighter active-content control.
• In 2026, the tobacco industry is expected to lead end use with 71.1% share because licorice remains embedded in flavor and casing recipes.
• Spain records the highest profiled country growth at 6.5% CAGR through 2036 because food processing provides another route beyond tobacco.
• Mature cigarette consumption weakens the largest historical demand pool while glycyrrhizin control raises the documentation required for food and health applications.
• Some of the key players in this market include Maruzen Pharmaceuticals Co., Ltd., Shirin Darou Company, Norevo GmbH, Sepidan Osareh Jonoob Co., MAFCO Worldwide LLC, BGM Group Ltd, Qinghai Lake Pharmaceutical Co., Ltd., and Shaanxi Huatai Bio-fine Chemical Co., Ltd..

Analyst Perspective

"Licorice processors earn more from extract grades that hold glycyrrhizin and sensory performance inside an agreed range than from undifferentiated root supply. Tobacco volume still carries weight, but separate food and herbal specifications reduce the risk that one regulatory pathway determines the whole sales book."

- Nandini Roy Choudhury, Principal Consultant, Future Market Insights

How is the Licorice Root Market segmented?

The market is segmented by product form and end use, with region used for geographic analysis.

Product form covers extracts, paste, roots, powder, blocks, and other formats. End use covers the tobacco industry, food and beverage industry, pharmaceutical industry, cosmetic industry, and dietary supplements. Region provides the geographic framework for country and regional analysis.

Why does the Tobacco industry lead the End use category?

Tobacco manufacturers use licorice inside flavor and casing recipes repeated at industrial scale. Once a root or extract grade meets the sensory specification the same formulation can generate regular factory orders until regulation or consumption changes the volume plan.

• In 2026, the tobacco industry is expected to lead end use with 71.1% share because licorice remains embedded in established flavor recipes.
• Shirin Darou Company sought 500 tons of dried licorice root through a September 2025 public tender, showing how direct factory procurement can reach industrial scale.

What makes Extracts central to the Product form category?

Extract processors remove milling and extraction work from the customer's plant while giving formulation teams a defined assay range. BGM Group's July 2026 Form 20-F identifies licorice extract and liquid extract among current pharmaceutical ingredients. The filing confirms commercial use of processed licorice formats beside naturally derived sweeteners market applications.

• By product form, the extracts segment is estimated to hold 40.4% in 2026 owing to easier metering and tighter active-content specifications.
• Processed formats reduce plant handling and give technical teams one controlled point for testing glycyrrhizin, moisture, and sensory strength before approval.

What are the drivers, restraints and opportunities in the Licorice Root Market?

Standardized extracts strengthen repeat formulation demand while mature cigarette consumption reduces volume certainty. Current European herbal guidance provides a separate qualification route for documented licorice preparations.

• Driver: Processors that hold sweetness and glycyrrhizin within agreed specifications reduce the reformulation work required by repeat industrial customers.
• Restraint: Declining cigarette use reduces the renewal volume available from the tobacco channel that still accounts for most current end-use demand.
• Opportunity: Current European herbal guidance gives documented species and preparation routes a clearer path into pharmaceutical formulation programs.

Controlled extraction improves repeat formulation

Licorice earns repeat orders after processors turn variable roots into ingredients with defined sensory and analytical ranges. Maruzen Pharmaceuticals' September 2025 sustainability report documented its FY2024 harvest from selected licorice stolon lines and a plan to size future cultivation acreage from harvest records. The work links field planning with the plant-based ingredients market requirement for consistent botanical inputs.

Cigarette decline narrows the largest demand pool

Tobacco concentration makes cigarette trends commercially important even when licorice retains a technical role inside existing recipes. A March 2025 CDC report found that exclusive cigarette smokers in the United States fell by about 6.8 million between 2017 and 2023. Lower renewal in the largest end use pushes processors to build separate food or health programs before tobacco volume weakens further.

European herbal guidance broadens qualification routes

Herbal medicines require documented species and preparation conditions because their approval route differs from food flavoring. In July 2026 the European Medicines Agency published the final Revision 1 EU herbal monograph covering three Glycyrrhiza species for traditional medicinal use. The current reference gives herbal medicinal products market developers a clearer basis for species-specific extract specifications.

Which country CAGRs are profiled in the Licorice Root Market?

Country	CAGR
Spain	6.5%
USA	6.1%
Netherlands	5.5%
South Korea	5.1%
UK	4.5%
Japan	4.1%
Germany	3.5%

How do country-level CAGRs compare in the Licorice Root Market?

The country range spans 3.0 percentage points from Spain at 6.5% to Germany at 3.5%. Spain and the USA occupy the faster end while the Netherlands and South Korea form the middle. The UK, Japan and Germany grow more slowly as tobacco exposure or crude-drug qualification limits easy substitution.

• Spain pairs food processing with a tightly administered tobacco channel that keeps industrial purchasing formal.
• USA account value depends heavily on its wider formulation mix beyond cigarette manufacturing.
• Dutch confectionery production gives food-grade extracts a separate route from tobacco demand.
• South Korean health-product channels place extra value on botanical identity and technical files.
• UK import networks preserve specialist access while cigarette demand contracts from a mature base.
• Japanese crude-drug rules keep identity and assay review ahead of supplier substitution in established herbal formulations.
• German residue monitoring makes origin records decisive before raw licorice moves into food or herbal extraction.

Growth rates therefore need to be read beside end-use concentration and qualification cost in each country. 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

• Spain's licensed tobacco network gives extract processors a formal route into industrial accounts while food manufacturers provide a second outlet for standardized material. By 2036, Spain is projected to grow at 6.5% CAGR because confectionery and beverage applications broaden the end-use mix. From 2 January 2026 the Ministry of Finance requires every Tobacco Market Commissioner procedure to be completed electronically through the official channel. The rule gives licensed distributors a clear administrative route while raising the documentation threshold for companies entering informally. Licorice processors with plant-based beverage ingredients market relationships can separate food-grade extracts from tobacco specifications and reduce dependence on one regulated channel.
• USA formulation programs divide sharply between recognized food uses and a cigarette channel with a smaller consumer base. CDC's March 2026 release found that 9.9% of USA adults used cigarettes in 2024 and confirms a smaller conventional tobacco base. Licorice root demand in the USA is forecast to rise at 6.1% CAGR over the forecast period tied to food and health applications. The federal food inventory gives extract processors a defined flavor route while cigarette exposure limits renewal in the largest historical end use. Companies with nutraceutical ingredients market access can qualify separate botanical specifications and build more application breadth than tobacco-focused accounts.
• Dutch licorice sales draw on a food-processing base where confectionery demand gives extract processors an outlet outside tobacco formulations. The Netherlands licorice root sector is projected to record 5.5% CAGR during the assessment period aided by confectionery and beverage use. Statistics Netherlands documented in March 2025 that 18.2% of adults smoked in 2024 and reduced confidence in tobacco as a volume anchor. Short transport routes into neighboring European markets make sampling and replenishment practical for specialist extract processors. Companies using nutraceuticals market channels can widen account coverage while food-grade specifications must carry enough value to offset weaker cigarette consumption.
• South Korean customers place substantial weight on technical files because botanical ingredients often enter health and personal-care formulations beside highly specified conventional inputs. KDCA's 2025 youth survey recorded current cigarette use at 4.4% among male students and weakens the long-term case for tobacco-led growth. Adoption of licorice root in South Korea is estimated to expand at 5.1% CAGR through 2036 given pharmaceutical and functional-ingredient demand. Domestic testing capacity gives documented extracts a practical route into health-product programs while origin records and translated specifications can slow onboarding. Personal care ingredients market relationships can extend licorice-derived active sales beyond cigarette formulations.
• UK licorice processors face a mature cigarette channel so imported botanical ingredients increasingly need a second commercial use to justify qualification work. The Office for Health Improvement and Disparities recorded 10.4% adult smoking prevalence in England for 2024 in its November 2025 profile. Licorice root sales in the UK are forecast to expand at 4.5% CAGR by 2036 helped by food and supplement applications. Established import networks keep specialist botanical sourcing practical while falling cigarette use reduces the strongest historical volume base. Separate food-grade and cosmetic chemicals market specifications can protect account diversity and make mix improvement more important than tobacco recovery.
• Japanese licorice root demand remains tied to crude-drug specifications because pharmaceutical and food uses follow different qualification routes. PMDA's March 2025 provisional guidance specifically cites glycyrrhiza extract and powdered glycyrrhiza when explaining crude-drug treatment under elemental-impurity rules. That recognition keeps licorice inside a formal technical framework for regulated customer programs before manufacturers compare price or alternative origins. Japan's licorice root demand is projected to advance at 4.1% CAGR through 2036 as established herbal applications sustain controlled purchasing. Supplier changes remain slow because identity and assay results must match the specification already accepted for the finished preparation before routine manufacturing begins.
• German licorice root buyers face tighter residue scrutiny because root origin determines whether processing can begin without additional release testing at plants. BVL reported in March 2025 that matrine was quantifiable in two of 24 licorice-root samples from its monitoring project. Both quantifiable root samples exceeded the general 0.01 mg/kg maximum residue value for that analytical program during release testing. German licorice root demand is projected to grow at 3.5% CAGR through 2036 as regulated food and herbal uses persist. Orders remain cautious when a new origin adds analytical work without delivering a clear cost or specification advantage for processors.

Who are the notable companies in the Licorice Root Market?

Maruzen Pharmaceuticals Co., Ltd., Shirin Darou Company, Norevo GmbH, Sepidan Osareh Jonoob Co., MAFCO Worldwide LLC, BGM Group Ltd, Qinghai Lake Pharmaceutical Co., Ltd., and Shaanxi Huatai Bio-fine Chemical Co., Ltd. are the notable companies profiled in this market.

The eight-company register is weighted toward dedicated licorice processors because root access and extract standardization determine whether an industrial grade can be repeated. Maruzen Pharmaceuticals, BGM Group, Qinghai Lake Pharmaceutical, and Huatai Bio extend competition into pharmaceutical or purified-derivative routes. Licorice-specific production records still decide qualification for recurring industrial orders.

• Direct root and extract processors include Shirin Darou Company, Norevo GmbH, Sepidan Osareh Jonoob Co., and MAFCO Worldwide LLC.
• Botanical and pharmaceutical extract platforms include Maruzen Pharmaceuticals Co., Ltd. and BGM Group Ltd.
• Purified licorice-derivative specialists include Qinghai Lake Pharmaceutical Co., Ltd. and Shaanxi Huatai Bio-fine Chemical Co., Ltd.

Competitive Benchmarking: Licorice Root Market

Company	Licorice Form Breadth	Quality Control Depth	Application Reach	Geographic Reach
Maruzen Pharmaceuticals Co., Ltd.	Medium	High	High	Japan and international markets
Shirin Darou Company	High	High	High	Europe, Asia, Middle East, and Canada
Norevo GmbH	Low	High	High	Europe and international markets
Sepidan Osareh Jonoob Co.	High	High	High	Europe, Asia, and Middle East
MAFCO Worldwide LLC	Medium	Medium	High	North America and international markets
BGM Group Ltd	Medium	Medium	Medium	China and pharmaceutical export markets
Qinghai Lake Pharmaceutical Co., Ltd.	High	High	High	Asia and Europe
Shaanxi Huatai Bio-fine Chemical Co., Ltd.	High	High	High	China and international markets

Scoring basis: High licorice form breadth requires at least three documented formats or derivative families while Medium requires two and Low identifies one. High quality-control depth requires an independent certification plus documented analytical controls while Medium reflects one formal control route and Low identifies a basic documented control. High application reach requires at least three end-use groups while Medium requires two and Low identifies one. Geographic reach records documented sales or operating coverage.

Key Developments in the Licorice Root Market

• In February 2026, Shaanxi Huatai Bio-fine Chemical Co., Ltd. obtained ISO 22000 certification covering food-grade licorice series ingredients and HACCP-based food-safety controls.
• In December 2025, Norevo GmbH received an FSSC 22000 certification decision covering food-ingredient processing at its Möhnsen site in Germany.
• In December 2025, Maruzen Pharmaceuticals Co., Ltd. obtained FSSC 22000 certification for the Miyoshi Factory after expanding formal food-safety management at the extraction site.

Key Players in the Licorice Root Market

Dedicated Licorice Root and Extract Processors

• Shirin Darou Company
• Norevo GmbH
• Sepidan Osareh Jonoob Co.
• MAFCO Worldwide LLC

Botanical and Pharmaceutical Extract Platforms

• Maruzen Pharmaceuticals Co., Ltd.
• BGM Group Ltd

Purified Licorice-Derivative Specialists

• Qinghai Lake Pharmaceutical Co., Ltd.
• Shaanxi Huatai Bio-fine Chemical Co., Ltd.

Licorice Root Market - Report Scope

Coverage field	Report scope
Market breakdown	By product form, end use, and region.
Quantitative Units	USD Billion.
Market Definition	Commercial licorice root and processed licorice-root ingredients including extracts, paste, roots, powder, blocks, and purified derivative formats sold into defined industrial end uses.
Regions Covered	North America, Latin America, Europe, East Asia, South Asia and Pacific, and Middle East and Africa.
Countries Covered	Spain, USA, Netherlands, South Korea, UK, Japan, and Germany, and 20+ countries included in the full report.
Key Companies Profiled	Maruzen Pharmaceuticals Co., Ltd., Shirin Darou Company, Norevo GmbH, Sepidan Osareh Jonoob Co., MAFCO Worldwide LLC, BGM Group Ltd, Qinghai Lake Pharmaceutical Co., Ltd., and Shaanxi Huatai Bio-fine Chemical Co., Ltd..
Forecast Period	2026 to 2036.
Approach	Primary and secondary research with market triangulation.

Licorice Root 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 Root Market by Segments

Licorice Root Market segmented by Product Form:

• extracts
• paste
• roots
• powder
• blocks
• others

Licorice Root Market segmented by End Use:

• tobacco industry
• food and beverage industry
• pharmaceutical industry
• cosmetic industry
• dietary supplements

Licorice Root 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 (formerly EAFUS): Licorice search results.
• Office for National Statistics. (2025, November 4). Adult smoking habits in the UK: 2024.
• BGM Group Ltd. (2026, July 21). Annual report on Form 20-F for the fiscal year ended September 30, 2025.
• Shirin Darou Company. (2025, September 8). Announcement of public tender 500 (five hundred) tons of dried licorice root.
• Maruzen Pharmaceuticals Co., Ltd. (2025, September). Sustainability Report 2025.
• Arrazola, R. A., Husten, C. G., Cornelius, M. E., & Armour, B. S. (2025, March 6). Notes from the Field: Tobacco Product Use Among Adults - United States, 2017-2023.
• European Medicines Agency. (2026, July 20). Liquiritiae radix - herbal medicinal product.
• Ministerio de Hacienda, Spain. (2026, January 2). Expendedurías.
• Sohi, I., & Ng, A. E. (2026, March). Cigarette and Electronic Cigarette Use Among Adults by Urbanization Level: United States, 2024.
• Statistics Netherlands. (2025, March 21). Smoking and alcohol consumption down since 2014, obesity unchanged.
• Korea Disease Control and Prevention Agency. (2025). Korea Youth Risk Behavior Survey: 2025 current cigarette smoking rate.
• Office for Health Improvement and Disparities. (2025, November). Smoking profile: statistical commentary, November 2025.
• Maruzen Pharmaceuticals Co., Ltd. (Retrieved August 28, 2026). Production.
• Shirin Darou Company. (Retrieved August 28, 2026). Home.
• Norevo GmbH. (Retrieved August 28, 2026). Welcome to the world of Norevo.
• Sepidan Osareh Jonoob Co. (Retrieved August 28, 2026). About Us.
• MAFCO Worldwide LLC. (Retrieved August 28, 2026). About Mafco.
• Swisseutic SA. (2025, April 15). Swisseutic Announces Strategic Distribution Partnership with Qinghai Lake Pharmaceutical Co., Ltd.
• Shaanxi Huatai Bio-fine Chemical Co., Ltd. (2026, July). How to Choose a Cosmetic Raw Material Supplier? Certifications, Patents, and Supply Chain - The Strength of Huatai Bio.
• LRQA Limited. (2025, December 18). Certificate of Approval: Norevo GmbH.
• Maruzen Pharmaceuticals Co., Ltd. (2026, January 26). Acquisition of FSSC 22000 (Miyoshi Factory).
• Swisseutic SA. (2025, June 17). Swisseutic Celebrates QHL’s EcoVadis Silver Medal for Sustainable Business Practices.
• BGM Group Ltd. (2026, July 28). Form 6-K: Regained Compliance with Nasdaq Listing Rule 5250(c)(1).
• Maruzen Pharmaceuticals Co., Ltd. (2026, January 5). MARUZEN PHARMACEUTICALS Receives Silver Medal in EcoVadis Sustainability Assessment in 2025.
• Federal Office of Consumer Protection and Food Safety, Germany. (2025, March 18). National reporting on pesticide residues in food: 2023 monitoring report.
• Pharmaceuticals and Medical Devices Agency, Japan. (2025, March). Provisional Translation by Japanese Pharmacopoeia Secretariat.

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 root market in 2026 and what is its 2036 outlook?
• Why do extracts account for the largest product-form share?
• Why does the tobacco industry remain the largest end use?
• Which operating conditions increase repeat demand for standardized licorice extracts?
• How does mature cigarette consumption constrain the market?
• Which non-tobacco routes provide the clearest diversification opportunity?
• How do country CAGRs differ among Spain, USA, Netherlands, South Korea, and UK?
• Which companies have direct licorice-root processing or derivative positions?
• How do leading companies compare on form breadth, quality control, application reach, and geography?