This application is a continuation-in-part of pending U.S. patent application Ser. No. 10 / 065,995 by the authors, filed on Dec. 9, 2002, for a Commercial Process for Isolation and Purification of Glabridin with High Tyrosinase Inhibitory Activity and its Cosmetic Compositions and Methods Of Use. The current invention discloses the use of Glabridin containing Licorice extract (4-90% Glabridin) as metalloprotease and hyaluronidase inhibiting component in cosmetic topical or oral formulations. These extracts and particularly Glabridin, are useful in anti-wrinkle and anti-aging products, providing elasticity, firmness, tone and texture to the skin, ameliorating fine lines and crows feet in under eye preparations, and prevent skin and hair damage due to UV rays, inflammation and itch, diaper rashes in baby products, as massage or toning oils or emulsion for babies.