Plant extract that has skin-soothing properties.  In addition, licorice root may be effective in improving the look of an uneven skin tone. [2,3]
One of its components, known as glabridin, is a potent antioxidant and skin-soothing ingredient, which is why licorice often shows up in products meant for sensitive, reddened skin. 
- Ebanks J, Wickett R, Boissy R. Mechanisms Regulating Skin Pigmentation: The Rise and Fall of Complexion Coloration. Int J Mol Sci.. 2009;10(9):4066-4087.
- Simmler C, Pauli G, Chen S. Phytochemistry and biological properties of glabridin. Fitoterapia. 2013;90:160-84.