Key Companies & Market Share in the Licorice Root Sector

Licorice Root Market Share Analysis Outlook From 2025 to 2035

The global licorice root market operates under a moderately fragmented structure with multinational corporations, regional leaders, startups, and niche brands in the same segment. Around 40% of the total market share is possessed by multinational companies such as Naturex, Martin Bauer Group, and Indena with superior extraction techniques and wide product portfolio offerings.

Regional players such as Sepidan Osareh and ASEH Licorice do well in niche markets and achieve strong deep local penetration; they hold 35% of the overall share. Startups and niche brands are 25% in all, with only Panda Licorice and Wiley Wallaby, focusing on organic and specialty items. The first five firms collective account for close to 35%; the market is moderately concentrated, but there is a lot of space for smaller firms.

Market Share by Key Players

Global Market Share 2025	Industry Share (%)
Top Multinationals (Naturex, Martin Bauer Group, Indena)	40%
Regional Leaders (Sepidan Osareh, ASEH Licorice, Norevo)	35%
Startups & Niche Brands (Panda Licorice, Wiley Wallaby, F&C Licorice)	25%

The global licorice root market is relatively moderately fragmented with relatively balanced contributions from the large players and smaller ones.

Segment Analysis

By Form Type

Roots licorice roots (28.4%) hold a huge share due to their huge consumption in traditional medicine and confectionery. A significant producer like Iran is of strong role for satisfying this demand. The roots are being exported also to pharmaceutical industries across Europe and North America.

Extracts (23.7%) are the most widely used in flavoring and medicinal applications due to their concentrated glycyrrhizin content. Martin Bauer Group is the leader in licorice extract production, serving both food and pharmaceutical markets.

Licorice powder is another growing sub-segment, preferred in dietary supplements for ease of formulation. Paste and blocks, though niche, serve specialized uses in the cosmetics and food industries, especially in premium confectionery.

By End Use

The major end-use is in the food and beverage segment, accounting for 30.8%, based on demand from natural sweeteners and flavor-enhancing applications. Premium licorice confectionery brands Darrell Lea and Panda Licorice well represent this use.

The tobacco industry accounts for 12.9% of its usage, used as flavor profiles in chewing tobacco and cigarettes, and ASEH Licorice is a big player in the tobacco industry. The pharmaceutical industries apply licorice root with anti-inflammatory as well as its antimicrobial capacity for herbal remedies and throat sores.

Companies in the cosmetic industries are focusing on the skincare properties of anti-aging produced by Bio-Botanica that offers natural solutions for various types of skins. Dietary supplementations are widely applied due to consumer health awareness in society and demands in natural therapeutic medicines.

Who Shaped the Year

The year witnessed significant development in the licorice root market, with key players at the forefront of innovation and expansion. Naturex and Martin Bauer Group developed newer lines of products through advanced extraction techniques that met growing demands for premium licorice products.

Licorice root exports by Sepidan Osareh heralded eco-friendly packages, and Panda Licorice sugar-free variants catered to diabetic consumer demands. Regional industry leaders established their dominance in Iran and India by investing in local sourcing and production capacity.

• Naturex: Released improved solubility licorice root extract for beverage manufacturers
• Martin Bauer Group: Partnered with the regional farmers to certify sustainable supply of the licorice roots.
• Indena: Launched pharmaceutical-grade licorice extracts for anti-inflammatory medicines.
• Norevo: Expands Asian operations with region-specific licorice-based sweeteners
• Sepidan Osareh: Introduced eco-friendly packaging for the export of raw licorice root
• Panda Licorice: Launched sugar-free licorice candies for diabetic customers
• Darrell Lea: Concentrated on vegan licorice production as the plant-based market grows
• ASEH Licorice: Consolidated its position in the tobacco market with innovative blends
• Wiley Wallaby: Launched organic licorice ropes in eco-friendly packaging.
• Bio-Botanica: It teamed up with cosmetic brands in developing licorice-infused skincare products.

Key Highlights from the Forecast

• Consumers are increasingly looking for responsible agriculture to source products, thus boosting eco-friendly farming.
• Untapped markets in Latin America and Southeast Asia are slated to attract more companies in this region.
• Dietary supplements and cosmetics emerged as major segments expected to increase the divergence of this market.
• Development of new, high-potency extracts for pharmaceutical and functional food applications.
• E-commerce Expansion: Online stores that can make specialty and organic licorice products more accessible.
• Health-Centric Products: Demand for sugar-free and organic licorice products is high.
• Partnerships: Companies partnering with cosmetics and nutraceuticals to create more uses for the licorice root.
• Innovative Extraction: The development of new technologies that will give a higher yield and purity level.
• Compliance with International Regulations: Ensure international quality and safety standards.

Tier-Wise Company Classification 2025

By Tier Type	Tier 1
Market Share (%)	40%
Example of Key Players	Naturex, Martin Bauer Group, Indena

By Tier Type	Tier 2
Market Share (%)	35%
Example of Key Players	Sepidan Osareh, ASEH Licorice, Norevo

By Tier Type	Tier 3
Market Share (%)	25%
Example of Key Players	Panda Licorice, Wiley Wallaby, Darrell Lea

Key Company Initiatives

Brand	Key Focus
Naturex	Developed certified organic licorice root extracts for dietary supplements.
Martin Bauer Group	Invested in a traceability system for licorice root supply chains.
Indena	Launched water-soluble licorice extracts for beverages
Norevo	Partnered with confectionery brands to develop innovative licorice flavors.
Sepidan Osareh	Introduced premium licorice roots for luxury confectionery.
Panda Licorice	Focused on expanding sugar-free product lines.
Darrell Lea	Enhanced plant-based product range with new packaging formats.
ASEH Licorice	Strengthened partnerships in the tobacco sector for flavored blends.
Bio-Botanica	Developed licorice-infused skincare solutions.
Wiley Wallaby	Released organic licorice variants in compostable packaging.

Recommendations for Brands

• Health Trend Focus: Sugar-free and organic varieties should be used to target health-conscious consumer groups. Diabetic lines can target both premium and mass markets.
• Strengthening E-commerce Channel: Develop direct-to-consumer channels to penetrate and service niche consumers. Partner with the likes of Amazon or region-specific players in a country like China through Meituan.
• Collaboration with Cosmetics Manufacturers: Partner up with skin care companies on an anti-aging and brightening type using licorice, thereby positioning it either in the high-value and/or mass-market platform.
• Sustainability: Green-farmed and eco-friendly packaging products. Examples of it include brands in the market as such as the ones from Sepidan Osareh.
• Applications: Discover the application of licorice in functional foods, beverages, and nutraceuticals for increasing revenues.
• Traceability: Establish trust with consumers by showing a clear chain of origin, production, and quality standards.

Future Roadmap

Licorice root has been used for thousands of years as an herbal medicine to promote health benefits, including digestive health and immunity. As interest in natural remedies increases, demand for licorice-based dietary supplements will likely grow.

Manufacturers can take the properties of licorice and develop the product in any specific way: for example, a licorice root extract is good for supporting the digestive system, and there are gummies infused with licorice that promote the immune system. Such supplements can address growing consumer preference for natural health solutions.

The brightening and anti-inflammatory properties of licorice-based ingredients have massive potential for cosmetics. There will be developed North America and European brightening serums, soothing face masks, and anti-aging creams based on licorice as consumers are highly interested in clean beauty and natural products. The health-conscious consumers looking for a natural solution to their skin issues will fuel the growth in the licorice-derived cosmetics market.

The pharmaceutical industry continues in exploring high-potency licorice extract for application in anti-inflammatory drugs, throat lozenges, and more. Regulatory frameworks about developing novel pharmaceutical products in Europe and North America allow manufacturers to expand focus on developing research and innovation on licorice-derived pharmaceutical formulations.

These innovative licorice-based drugs and therapeutic products can meet the unmet medical needs and fuel the growth of the licorice market in the pharmaceutical sector.

Table of Content

1. Executive Summary
2. Market Overview
3. Key Growth Drivers
4. Company Performance
5. Market Concentration
6. Segmented Analysis
7. Who Shaped the Year
8. Key Highlights from the Forecast
9. Tier-Wise Company Classification
10. Key Company Initiatives
11. Recommendations for Brands
12. Future Roadmap