- Consumers are increasingly seeking products derived from natural sources due to concerns about synthetic additives and chemicals in their food, beverages, and personal care items. licorice root, known for its medicinal properties and historical use in traditional medicine systems, aligns with this consumer preference for natural remedies. Its perceived health benefits, including anti-inflammatory and digestive support, make it a sought-after ingredient in pharmaceuticals, herbal supplements, and skincare products
- This growing demand for natural ingredients propels the expansion of the licorice root market as it continues to be integrated into a wide range of consumer goods worldwide
- North America dominated the licorice root market with the largest revenue share of 41.3% in 2024, driven by rising demand for natural ingredients, increased awareness of herbal remedies, and robust applications in the food, pharmaceutical, and cosmetic industries
- Asia-Pacific licorice root market is projected to grow at the fastest CAGR of 15.6% from 2025 to 2032, fueled by rapid urbanization, expanding middle-class population, and growing awareness of herbal and natural remedies
- The Extracts segment dominated the market with the largest revenue share of 58.4% in 2024, driven by their widespread use in the food, pharmaceutical, and cosmetic industries due to ease of formulation and consistent active ingredient concentration
