North America Licorice Extract Market
North America Licorice Extract Market Trends & Forecast 2034
The North America Licorice Extract Market is on an impressive growth trajectory. Valued at USD 76.4 million in 2024, it is projected to surge to USD 156.9 million by 2034, registering a CAGR of 8.6%. The region’s increasing demand for natural, clean-label products and health-conscious consumer trends are driving this growth. The market spans diverse applications in the food and beverage, pharmaceutical, nutraceutical, and cosmetics industries. This comprehensive report reveals key trends, market dynamics, segmentation analysis, and growth forecasts that offer valuable insights for investors, stakeholders, and new entrants.
Market Trends Shaping the North America Licorice Extract Industry
- Surging Demand for Plant-Based Extracts: The demand for natural, herbal, and clean-label products is propelling licorice extract sales. Consumers’ shift toward plant-based diets and sustainable products is driving this trend.
- Boom in Preventive Healthcare Products: As consumers prioritize health, licorice extract’s role as a supplement for immune support, digestive health, and skincare is expanding.
- Clean Label Movement: Heightened interest in “clean label” ingredients is pushing manufacturers to reformulate products using natural additives like licorice extract.
- Government Initiatives & Regulatory Support: Government initiatives supporting natural and herbal ingredients have created a favorable environment for the licorice extract market in North America.
Market Drivers for North America Licorice Extract Market
- Health & Wellness Focus: Licorice’s health benefits, such as anti-inflammatory, antioxidant, and digestive support properties, are accelerating demand.
- Natural Sweeteners: Food and beverage companies are increasingly adopting licorice extract as a natural flavoring and sweetening agent.
- Rise of Functional Foods & Beverages: The demand for health-boosting foods and beverages has skyrocketed, with licorice extracts being used in herbal teas, dietary supplements, and health drinks.
Restraining Factors for North America Licorice Extract Market
- Regulatory Challenges: Regulatory restrictions on glycyrrhizin content pose a challenge for market players.
- Sourcing Difficulties: Dependence on specific climatic conditions and global supply chain challenges for licorice roots impact production capacity and product availability.
Segment & Category Analysis in North America Licorice Extract Market
By Form
| Form | Market Share (2024) | CAGR (2024-2034) |
| Chewable Tablets | 40% | 11.2% |
| Powder | 25% | 9.4% |
| Capsules | 20% | 8.6% |
| Liquid Extracts | 15% | 7.9% |
Chewable tablets lead the market as consumer preference for easy-to-consume formats rises. These tablets are favored for their convenience and palatability, especially for children and elderly consumers.
By Application
| Application | Market Share (2024) | CAGR (2024-2034) |
| Food & Beverage | 35% | 9.6% |
| Pharmaceuticals | 25% | 8.9% |
| Cosmetics | 20% | 8.2% |
| Nutraceuticals | 20% | 9.1% |
The food and beverage industry remains the dominant application sector due to licorice’s role as a natural sweetener and flavoring agent. Additionally, its use in pharmaceutical formulations and skin-lightening products in the cosmetic industry is on the rise.
Key Growth Regions in North America Licorice Extract Market
| Region | Market Value (2034) | CAGR (2024-2034) |
| USA | USD 140.1 million | 8.5% |
| Canada | USD 17.9 million | 9.7% |
The USA dominates the North America licorice extract market with a substantial market share, driven by the high demand for natural sweeteners in food & beverage and nutraceuticals. Canada is also witnessing growth due to increased production of licorice-based supplements and beauty products.
Market Composition
The North America licorice extract market is characterized by the presence of local and international players. Market players are focused on launching innovative products to meet the rising demand for clean-label products and functional foods. Companies are competing in terms of price, product differentiation, and distribution network.
Competition Landscape
Key Players in North America Licorice Extract Market
- BioMatrix International
- Swanson
- Bio-Botanica Inc.
- NOW Foods
- Carlyle Nutritionals
- NIKKO CHEMICALS CO., LTD.
- PharmaChoice
- Hard Eight Nutrition LLC.
- Nature’s Sunshine Products, Inc.
- Horbäach
These key players employ a mix of organic and inorganic growth strategies, such as partnerships, mergers, and new product launches, to strengthen their market position.
Company Overview & Insights for North America Licorice Extract Market
| Company | Revenue (2024) | Market Share (%) | Strategy |
| Bio-Botanica | USD 12 million | 18% | Product Diversification |
| Carlyle Nutrition | USD 8 million | 12% | Expansion of Product Portfolio |
| Swanson | USD 15 million | 20% | New Product Launches |
Contact our advisory for knowing more about established and emerging players.
Frequently Asked Questions (FAQs) for North America Licorice Extract Market
- What are the key drivers of the North America licorice extract market?
- Growing interest in plant-based and clean-label products, along with increasing demand for natural flavoring agents in the food & beverage industry.
- Which form of licorice extract is most preferred?
- Chewable tablets are the most popular form due to their ease of consumption and taste enhancement properties.
- Which country dominates the market in North America?
- The USA leads with a market valuation of USD 140.1 million by 2034, driven by high demand for licorice-based products in the food, beverage, and nutraceutical industries.
- What are the top challenges faced by the market?
- Regulatory issues related to glycyrrhizin content and sourcing constraints due to the climate-dependent nature of licorice root production.
- How is licorice extract used in the cosmetics industry?
- Licorice extracts are used in cosmetic formulations for skin lightening and anti-inflammatory properties, enhancing skincare products’ appeal.
Table of Market Data for North America Licorice Extract Market
| Year | Market Size (USD Million) | CAGR (%) |
| 2024 | 76.4 | 8.6% |
| 2029 | 120.5 | 8.6% |
| 2034 | 156.9 | 8.6% |
The North America Licorice Extract Market is on a growth path with a projected value of USD 156.9 million by 2034. Factors such as the clean-label movement, preventive healthcare, and rising consumer inclination towards natural sweeteners are driving this market. The robust demand for chewable tablets, liquid extracts, and cosmetic applications showcases the growing versatility of licorice extracts.
This report provides in-depth insights, forecasts, and a comprehensive competitive analysis to support strategic decision-making. With trends, drivers, and opportunities clearly mapped out, this report is a must-have resource for stakeholders, industry participants, and investors.
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