Overview:

The worldwide market for licorice root is projected to expand significantly, starting at USD 1,052.52 million in 2025. By the conclusion of 2035, forecasts indicate the market will reach USD 2,149.18 million, demonstrating a compounded annual growth rate of 7.4% over the ten-year period.

Growth in this sector is primarily fueled by rising consumer interest in botanical elements and natural alternatives across diverse segments such as food and beverages, pharmaceuticals, and personal care products. Heightened awareness of health benefits associated with licorice root, including its anti-inflammatory, antiviral, and digestive properties, is influencing purchasing decisions.

In response to this increasing demand, companies operating within the licorice root supply chain are expanding their processing capabilities. Furthermore, leading industry participants are implementing sustainable cultivation and procurement strategies to ensure a stable and ethical source of raw materials.

Companies are also investing in advanced extraction technologies to maximize the yield and purity of licorice root extracts. Collaborative efforts between growers and processors are helping to secure necessary raw materials while verifying adherence to environmentally conscious and ethical agricultural methods.

The surge in demand for plant-derived foods and therapeutic products is a key market driver. This trend is encouraging consumers to seek herbal remedies, leading to greater uptake of licorice root ingredients in both food and medicinal applications.

Businesses are incorporating licorice root into various products, including herbal infusions, nutritional supplements, and natural sweetening agents, capitalizing on evolving consumer preferences. Additionally, the cosmetic sector is increasingly utilizing botanicals like licorice root for benefits such as skin brightening and anti-aging.

Product innovation is playing a crucial role in market expansion and customer acquisition. New offerings like licorice-flavored drinks, certified organic licorice root powder, and botanical pharmaceuticals with clear ingredient lists are gaining traction among consumers.

As knowledge of the varied applications and health advantages of licorice root becomes more widespread, the market is poised for substantial development. Factors such as a focus on sustainability, continuous innovation, and scaling up production facilities will be instrumental in this growth trajectory.