Plant extract that has skin-soothing properties. In addition, licorice root may be effective in improving the look of an uneven skin tone.
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.
References for this information:
Fitoterapia, October 2013, pages 160-184
Journal of Clinical and Aesthetic Dermatology, July 2010, pages 20-31
International Journal of Molecular Science, 2009, issue 9, 4066-4087
Natural Product Research, December 2007, pages 1,234-1,241