Licorice Candy Market – By Type , By Product , By Taste , By Distribution Channel and By Geography - Opportunity Analysis & Industry Forecast, 2025-2031
Licorice Candy Market Overview:
The Licorice Candy Market size is estimated to reach $582 million by 2031, growing at a CAGR of 5.1% during the forecast period 2025-2031. Licorice is known for its anti-inflammatory, digestive and immune-boosting properties which drives the demand from the confectionery sector. Additionally, licorice is naturally vegan which alignes with the growing demand for plant-based candies. Moreover, innovation in flavors such as fruity, herbal and spicy, various fillings and formats widened the appeal of licorice candy. A major trend in the market is the demand for sugar free licorice. The demand for sugar-free and low-calorie licorice is growing due to rising health consciousness and growing prevalence of diabetes. Another trend in the market is gourmet licorice. Premium licorice products with unique flavors, textures and fillings are attracting a niche audience. In November 2024, premium Danish confectionery brand, Lakrids by Bülow, launched an innovative selection of new product lines including its gourmet chocolate-coated licorice for the Christmas season.
Market Snapshot:
Licorice Candy Market - Report Coverage:
The “Licorice Candy Market Report - Forecast (2025-2031)” by IndustryARC, covers an in-depth analysis of the following segments in the Licorice Candy Market.
Key Takeaways:
Europe Leads the Market
Europe occupied the largest share in the market in 2024 driven by Scandinavian countries. The demand for licorice in Scandianavian countries is high as consumers in these countries have traditionally eaten licorice candy. In January, Danish licorice brand, Lakrids by Bülow, reported a strong performance for 2024, reporting 18% growth and revenues of over $50 million. As per the company’s 2023 annual report, Germany accounted for 33% of total sales while Denmark accounted for 30% of total sales. Additionally, licorice candy is also gluten free, non-GMO and vegan which aligns with consumer preferences in the region.
Sweer Licorice is the Largest Segment
Sweet licorice dominates the licorice market due to its broad consumer appeal and versatility in confectionery products. It is widely popular in regions like North America where sweet flavors are preferred over salty ones. Sweet licorice is available in various forms, such as twists, ropes and filled candies often combined with fruity or chocolatey flavors to enhance its taste. This variety appeals to both children and adults making it a staple in candy aisles and seasonal assortments. Additionally, sweet licorice is often fortified with natural ingredients such as licorice root extract which adds to its appeal as a healthier alternative to conventional sweets.
Twists and Ropes are the Largest Segment
Twists and ropes represent the largest segment in the licorice market due to their wide consumer appeal, convenient format and versatility. These products are popular across age groups, from children to adults, and are often available in various flavors, colors and fillings that cater to diverse tastes. Twists and ropes are most often sold in individually wrapped portions making them ideal for snacking on the go. Their popularity is also driven by their presence in seasonal events and celebrations, such as Halloween and Christmas, where licorice twists are a staple in candy assortments. With Halloween ranking as the second most popular holiday in the U.S, per the National Retail Federation, there is a high demand for candy, including licorice candy during this period.
Rising Popularity of Sour Candy Drives the Market
The rising popularity of sour candy positively impacts the licorice market, as manufacturers innovate to include sour flavors in licorice products. As per a 2023 report by the National Confectioners Association (NCA), Gen Z and millennials Americans prefer sour candy. Sour licorice appeals to consumers seeking bold and unique taste experiences making it a trendy choice in the confectionery segment. Sour twists, ropes and coated licorice candies are increasingly popular. The tangy-sweet balance in sour licorice products appeals to both children and adults which boosts its consumption and as an everyday treat.
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Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Licorice Candy Market. The top 10 companies in this industry are listed below:
- Cloetta AB
- Haribo GmbH & Co. KG
- American Licorice Company
- Toms Gruppen A/S
- Oy Karl Fazer Ab
- Mederer GmbH
- Amarelli Fabbrica di Liquirizia SRL
- RJ’s Licorice Limited
- Orkla Foods Finland
- Lakrids by Bülow
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