Global Compound Liquorice Market Size By Type (Tablets, Mixtures), By Application (Hospital Pharmacies, Retail Pharmacies), By Region, And Segment Forecasts, 2023 to 2032

The Global Compound Liquorice Market was valued at USD 1.02 billion in 2023 and is projected to reach USD 1.64 billion by 2031, growing at a CAGR of 6.2% during the forecast period from 2023 to 2031. This market growth is primarily driven by rising demand for natural herbal ingredients in food, pharmaceutical, and cosmetic applications. Compound liquorice, known for its antioxidant, anti-inflammatory, and flavoring properties, is widely used across industries as a natural sweetener, medicinal herb, and additive.

Increasing consumer preference for organic and natural health products, combined with growing awareness of liquorice’s health benefits, is fueling market expansion. Additionally, the shift away from synthetic ingredients in various industries has significantly amplified the global demand for compound liquorice extracts and formulations.

Drivers:

1. Rising Demand for Natural Medicinal Ingredients:

Growing use of liquorice in traditional medicine and its incorporation into pharmaceutical products for treating respiratory, digestive, and dermatological conditions are boosting market growth.

2. Expansion in the Food and Beverage Sector:

The flavoring properties of compound liquorice are being increasingly recognized in confectionery, beverages, and functional foods, aligning with clean-label trends and driving demand globally.

3. Increased Application in Personal Care Products:

Liquorice’s skin-brightening and anti-inflammatory attributes have spurred its inclusion in skincare and cosmetic formulations, especially in Asia-Pacific and North America.

Restraints:

1. Potential Health Risks with Overconsumption:

Excessive intake of liquorice can lead to adverse health effects such as hypertension and hypokalemia, leading to regulatory scrutiny and limiting its dosage in formulations.

2. Supply Chain Challenges and Agricultural Dependence:

Since liquorice is an agriculturally derived product, its supply is subject to climate conditions and geopolitical factors, affecting production consistency and pricing.

Opportunity:

1. Rising Popularity of Ayurvedic and Herbal Supplements:

Consumer interest in herbal wellness supplements is growing, creating substantial opportunities for liquorice-based nutraceutical products.

2. Innovation in Extraction and Standardization:

Advancements in extraction technologies and efforts to standardize glycyrrhizin content offer manufacturers better quality control and expand market accessibility, particularly in pharmaceutical applications.

Market by System Type Insights:

Based on system type, the Extract Powder segment dominated the market in 2023 due to its widespread application in pharmaceuticals and functional food products. It offers easy formulation, longer shelf life, and concentrated active ingredients. Meanwhile, the Liquid Extract segment is expected to witness the fastest growth, favored for its solubility and usage in beverages and syrups.

Market by End-use Insights:

The Pharmaceuticals segment emerged as the largest revenue contributor in 2023, driven by increased use of compound liquorice in cough syrups, anti-inflammatory medications, and gastrointestinal treatments. The Food & Beverage segment is also expanding rapidly, with liquorice being used in flavoring agents and natural sweeteners, particularly in Europe and Asia-Pacific.

Market by Regional Insights:

Asia-Pacific led the market in 2023, fueled by traditional medicine use in China and India, combined with growing industrial processing in these regions. Europe followed, with significant usage in herbal medicines and confectionery. North America is expected to witness steady growth due to increasing preference for plant-based supplements and clean-label food products.

Competitive Scenario:

Key players operating in the Global Compound Liquorice Market include:

Norevo GmbH

Mafco Worldwide LLC

Zagros Licorice Co.

Maruzen Pharmaceuticals Co. Ltd.

Avestia Pharma

Shaanxi Jiahe Phytochem Co., Ltd.

F&C Licorice Ltd.

VPL Chemicals Ltd.

These companies are actively engaged in strategic partnerships, product innovations, and regional expansions. For instance:

In 2023, Norevo GmbH launched a high-purity liquorice powder for pharma-grade formulations.

In 2024, Mafco Worldwide introduced a clean-label compliant sweetening solution for beverage manufacturers.

Scope of Work – Global Compound Liquorice Market

Report Metric Details

Market Size (2023) USD 1.02 Billion

Projected Market Size (2031) USD 1.64 Billion

CAGR (2023–2031) 6.2%

Market Segments By System Type (Extract Powder, Liquid Extract), By End-use (Pharmaceuticals, Food & Beverage, Personal Care)

Growth Drivers Natural ingredient demand, expansion in pharmaceuticals and F&B sectors

Opportunities Herbal supplement boom, extraction innovations

Key Market Developments:

2023: Zagros Licorice Co. introduced a high-grade extract aimed at European pharmaceutical companies.

2024: Avestia Pharma expanded its manufacturing capabilities in India to cater to rising demand from the nutraceutical sector.

2025: Maruzen Pharmaceuticals partnered with a leading cosmetic brand in Japan to develop skin-lightening formulations using standardized liquorice extract.

FAQs:

1. What is the current market size of the Global Compound Liquorice Market?

The market was valued at USD 1.02 billion in 2023.

2. What is the major growth driver of the Global Compound Liquorice Market?

The increasing demand for natural and herbal ingredients across food, pharmaceutical, and cosmetic industries is the primary growth driver.

3. Which is the largest region during the forecast period in the Global Compound Liquorice Market?

Asia-Pacific dominates the market due to high traditional usage and expanding industrial applications.

4. Which segment accounted for the largest market share in the Global Compound Liquorice Market?

The Extract Powder segment led the market in 2023 owing to its versatility and ease of use in multiple formulations.

5. Who are the key market players in the Global Compound Liquorice Market?

Key players include Norevo GmbH, Mafco Worldwide, Zagros Licorice Co., Maruzen Pharmaceuticals, and Avestia Pharma.

Let me know if you’d like this formatted into a Word document or want the report description for another topic!