Key Players
Competitive Landscape
Three supplier categories define the licorice root market: dedicated extract processors, purified-derivative specialists, and broader botanical manufacturers with licorice extraction lines.
The competitive change became visible in April 2025 when Swisseutic signed a European distribution partnership with Qinghai Lake Pharmaceutical for licorice derivatives. Maruzen Pharmaceuticals received an EcoVadis silver medal in January 2026. These actions put more weight on regional access and documented company controls beside extract specification.
Company developments mapped to drivers, trends and opportunities (2025-2036)
| Development | Driver | Trend | Opportunity |
|---|---|---|---|
| April 2025: Swisseutic signed a European distribution partnership with Qinghai Lake Pharmaceutical for licorice derivatives. | European formulators gained a regional route to purified licorice ingredients with existing pharmaceutical and food documentation. | Specialist distribution is shortening the distance between Asian derivative manufacturers and European formulation teams. | Qualified distributors can earn revenue from technical support and recurring orders for glycyrrhizinate salts and purified extracts. |
| June 2025: Qinghai Blicsweet Licorice Technology Development received an EcoVadis silver medal. | Large customers increasingly screen supplier controls beside assay results before adding a botanical ingredient source. | Formal company assessments are becoming part of licorice-derivative qualification for regulated accounts. | Processors with third-party assessments can target customers that require documented company controls during vendor approval. |
| July 2026: BGM Group regained Nasdaq periodic-filing compliance after filing its FY2025 annual report. | Listed-company customers and investors regained current public records for the group operating the Qilian Shan pharmaceutical business. | Public filing discipline now forms part of the information available around licorice-preparation producers in listed groups. | Current filings reduce diligence friction for accounts that require ownership and operating transparency before qualification. |
Norevo GmbH, Shirin Darou Company, Sepidan Osareh Jonoob Co., MAFCO Worldwide LLC, and Huatai Bio compete through licorice-specific extraction, derivative purification, and application coverage.
Source: Future Market Insights, Licorice Root Market and Botanical Extracts Market Reports, 2026-2036.
Leading companies collectively cover raw-root processing, standardized extracts, purified glycyrrhizinate derivatives, and industrial qualification for food, pharmaceutical, tobacco, supplement, and cosmetic programs.
Who leads the licorice root market?
No public source establishes a single verified share leader. Dedicated licorice processors and purified-derivative manufacturers hold the clearest positions because they control licorice-specific extraction or purification.
Which suppliers have documented qualification or quality approvals?
Maruzen Pharmaceuticals, Norevo GmbH, Qinghai Lake Pharmaceutical, and Huatai Bio publish current certification or regulatory records that support formal customer qualification.
Which companies provide extract products?
Shirin Darou Company, Norevo GmbH, Sepidan Osareh Jonoob Co., MAFCO Worldwide LLC, BGM Group, Maruzen Pharmaceuticals, and the two Chinese derivative specialists document licorice-derived ingredients.
Which suppliers serve Europe and Asia?
Qinghai Lake Pharmaceutical gained a documented European distribution route in 2025 while Shirin Darou, Sepidan, Norevo, Maruzen, and MAFCO maintain international customer channels.
Representative Company Overview
| Company | Positioning | Verified Development |
|---|---|---|
| Swisseutic SA | European natural-ingredient distributor with a dedicated route for Qinghai Lake Pharmaceutical licorice derivatives. | In April 2025, signed a European distribution partnership with Qinghai Lake Pharmaceutical Co., Ltd. for licorice derivatives. |
| Qinghai Lake Pharmaceutical Co., Ltd. | Licorice-derivative manufacturer supplying glycyrrhizinate salts, enoxolone, glycyrrhizic acid, and purified extracts. | In April 2025, entered a European distribution partnership with Swisseutic SA for its licorice-derivative portfolio. |
| Qinghai Blicsweet Licorice Technology Development Co., Ltd. | Food-licensed sister company supporting licorice-derived ingredients with food-safety and quality certifications. | In June 2025, received an EcoVadis silver medal for its company sustainability assessment. |
| BGM Group Ltd | Listed pharmaceutical group whose Qilian Shan operations include licorice preparations among pharmaceutical ingredients. | In July 2026, regained compliance with Nasdaq periodic-filing requirements after filing its FY2025 annual report. |
| Maruzen Pharmaceuticals Co., Ltd. | Japanese botanical-extract manufacturer with long-running licorice extraction and purification operations. | In January 2026, received a silver medal in the EcoVadis 2025 company sustainability assessment. |
| Shaanxi Huatai Bio-fine Chemical Co., Ltd. | Licorice-derivative manufacturer serving food and cosmetic formulation programs with purified actives. | In December 2025, received high-tech enterprise recognition from Shaanxi Province covering its plant-extraction business. |
Research Methodology
The companies mapped here illustrate the market structure rather than an exhaustive ranking. Inclusion requires current, verifiable evidence that a company supplies licorice root, licorice-root extract, or purified licorice derivatives within the defined market scope. Evidence comes from regulatory approvals, third-party certifications, company announcements, product documentation, and public filings. Capabilities are attributed to the stated licorice-root product family or purified-derivative service line rather than generalised across broader corporate portfolios. Market-share estimates remain proprietary FMI assessments for the forecast period.
