United States (US) Licorice Market Overview, 2029

The market for licorice in the United States is a vibrant, diverse industry that reflects the wide range of uses and rising customer demand for licorice products. Originating from the Glycyrrhiza plant, licorice is widely used in many sectors due to its sweet taste and therapeutic qualities. The food and beverage industry dominates the licorice market in the United States. Licorice is widely used as a flavoring ingredient in a variety of items, such as baked goods, chewing gum, and sweets. The US pharmaceutical sector also makes a substantial contribution to the licorice market. The medicinal qualities of licorice are well known, and they include anti-inflammatory, antioxidant, and calming actions. Licorice is used by the American tobacco business because it enhances taste. The industry is anticipated to have continued expansion in spite of supply and regulatory constraints, as a result of market trends toward natural ingredients and the pursuit of novel health advantages.

According to the research report "USA Licorice Market Outlook, 2029," published by Bonafide Research, the USA Licorice market was valued at more than USD 500 Million in 2023. In the Product of changing consumer tastes and industrial trends, the U.S. licorice market has been expanding in several directions across multiple industries. Consumer preferences in the food, beverage, pharmaceutical, and cosmetic industries are shifting toward natural and plant-based components. The biggest American market for licorice is still the food and beverage industry. In confectionery items such as sweets, chewing gum, and baked goods, licorice is frequently employed as a flavoring ingredient. In this field, licorice is becoming more and more popular due to the rising interest in complementary and alternative medicine. Licorice extracts are now more frequently used in cosmetic formulas to satisfy the needs of customers looking for mild yet effective skincare treatments, thanks to the growing popularity of natural and organic beauty products. The tobacco business uses licorice to make its products sweeter and more flavorful. The growing demand for nutraceuticals and functional foods is contributing to the licorice market's expansion.

The most common and traditional type of licorice is black licorice. The licorice root extract gives it a powerful, distinctive flavor, and anise oil is frequently added to improve the flavor. Black licorice is still the most popular kind in the United States market because of its long history of use and loyal customer base. Candy with fruit flavors has grown in popularity, particularly among younger customers and those seeking a more agreeable, sweeter substitute for conventional black licorice. Apple- and anise-flavored licorice appeal to particular palates. Because anise is used, anise-flavored licorice has a taste similar to regular licorice but with a slightly distinct character that appeal to people who appreciate herbal and aromatic aromas. Following its established customer base and historical significance, black licorice continues to be the most popular kind in the United States licorice industry. But fruit-flavored sweets are becoming a big and rising market, especially with younger audiences. Apple and anise-flavored licorice and cinnamon-flavored licorice cater to specialist and niche markets, adding to the general richness and diversity of the American licorice industry.

The U.S. licorice market offers a variety of licorice forms, including as powder, liquid, and block, to meet the demands of different industries. Among them, licorice powder dominates the market due to its adaptability and wide variety of uses. In the food and beverage sector, licorice powder is widely used as a sweetener and flavoring. It's quite popular since it's simple to add to baked goods, drinks, and confections. Due to its therapeutic qualities, licorice powder is highly valued in the pharmaceutical sector and is frequently included in herbal supplements, capsules, and medicinal powders. Because of its ability to brighten and soothe the skin, licorice powder is widely used in the cosmetic sector and is a vital component of many skincare products. Because of its versatility and efficiency in a variety of industries, powdered form is the most often used form.

Demand for licorice in the United States is driven by diverse uses in many industries, each of which contributes differently to the market dynamics. The food and beverage industry is the most common use of licorice in the United States. In this business, licorice is frequently employed as a coloring, sweetening, and flavoring agent. Due to its unique flavor and chewy texture, licorice is a common ingredient in sweets, chocolates, and chewing gum. Another important use area for licorice in the United States is the pharmaceutical industry. Licorice is often utilized in pharmaceutical formulations because of its therapeutic qualities. Despite regulatory obstacles facing the tobacco industry as a whole, flavored tobacco continues to be a sizable business, which supports Licorice’s use as a flavor enhancer in this particular niche.



Companies Mentioned:
Mars Wrigley Confectionery, div. of Mars Inc., Ferrero Group, Haribo GmbH & Co. K.G., Perfetti Van Melle, Meiji Co. Ltd., Nestle SA, Hershey Co., Lotte Confectionery Co Ltd, Mondelez International, Lindt & Sprungli AG

Considered in this report
• Historical Year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects Covered in the report:
• Licorice Market Size By Value for the time period (2018-2029F)
• Market Share by Type (Black Licorice, Fruit Flavoured Candy, Anise & Apples, Cinnamon) By Value
• Market Share by Form (Powder, Liquid, Block) By Value
• Market Share by Applications (Food & Beverages, Pharmaceuticals, Tobacco and Others) By Value

By Type
• Black Licorice
• Fruit Flavoured Candy
• Anise & Apples
• Cinnamon

By Form
• Powder
• Liquid
• Block

By Application
• Food & Beverages
• Pharmaceuticals
• Tobacco
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to sugar confectionery industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.