Liquorice Shellac Market by Grade, Application, Distribution Channel

Description

List of Tables

[186 Pages Report] The Liquorice Shellac Market size was estimated at USD 911.07 million in 2023 and expected to reach USD 953.43 million in 2024, at a CAGR 4.76% to reach USD 1,262.20 million by 2030.

Liquorice shellac refers to a natural, food-grade glaze derived from the lac bug secretion further combined with liquorice extract. It is commonly applied as a coating on various confectionery products, pharmaceuticals, and even some fruits to impart a glossy appearance, improve shelf-life, and sometimes enhance flavor with a subtle hint of liquorice. Given its origin, Liquorice Shellac is a preferred choice in applications requiring natural ingredients for glazing or finishing, serving as a protective barrier to add value through visual appeal and flavor enhancement. Increasing demand for natural & organic products has increased the applications of liquorice shellac. Favorable regulations promoting the use of safe, non-toxic additives in food, pharmaceuticals, and cosmetics further enhanced the market scope. However, dependency on lac bug populations and environmental factors affecting shellac production may challenge the market growth. Nevertheless, the development of eco-friendly and sustainable production methods for shellac exploring novel applications in industries beyond the current scope, such as in environmental protection or biodegradable materials, may provide an opportunistic view for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 911.07 million
Estimated Year [2024]	USD 953.43 million
Forecast Year [2030]	USD 1,262.20 million
CAGR (%)	4.76%

Grade: Increasing applications of food grade to enhance the appearance and shelf-life

Food grade liquorice shellac is a premium quality shellac specifically processed and purified to meet the stringent requirements of the food industry. It is primarily used as a glazing agent or coating to enhance the appearance and shelf-life of various food products, including confectionery, fresh fruits, and pharmaceutical coatings for taste masking. This grade of shellac is characterized by its exceptional purity and safety, being free from harmful impurities and allergens. Pharmaceutical grade liquorice shellac is a specially refined version of shellac used extensively in the pharmaceutical industry for its excellent film-forming properties. It excels in applications requiring controlled release of active ingredients in oral dosage forms, including tablets and capsules. This grade is distinct in its compliance with rigorous pharmaceutical standards, such as the United States Pharmacopeia (USP) and European Pharmacopoeia (EP), ensuring its suitability for medicinal use.

Application: Suitability in beverage industry as a flavoring agent, imparting a distinctive sweet, woody, and slightly bitter taste

In the beverage industry, liquorice shellac is primarily used as a flavoring agent, imparting a distinctive sweet, woody, and slightly bitter taste desirable in certain drinks. Beyond flavor, it also serves as a natural stabilizer and emulsifier in cloudy beverages, improving their appearance and shelf life. Additionally, its natural origin makes liquorice shellac an attractive option for companies targeting the growing market for organic and natural products. Liquorice shellac has a notable presence in the confectionery sector, where it functions as both a flavoring agent and a glazing agent. In terms of flavor, it adds a unique depth to sweets, particularly in liquorice-flavored candies, which are popular in many parts of the world. As a glazing agent, liquorice shellac is prized for its ability to provide a glossy, protective coating to candies, thereby enhancing their appearance, texture, and resistance to moisture. The pharmaceutical application of liquorice shellac spans a wide range of uses, from flavoring of syrup-based medicines to serve as an enteric coating for capsules and tablets. This natural coating helps mask the unpleasant taste of drugs and improves patient compliance. Furthermore, liquorice shellac's bioadhesive properties are leveraged in drug delivery systems, improving the efficiency of drug absorption and therapeutic effects.

Regional Insights

In the Americas, particularly in the United States and Canada, the demand for liquorice shellac has consistently increased, primarily driven by the confectionery and pharmaceutical industries. The United States, being one of the largest markets for confectionery products, has a significant influence on the market dynamics of liquorice shellac. The shift towards natural additives and ingredients in the food sector is a notable trend propelling the demand for liquorice shellac. Moreover, the pharmaceutical sector utilizes liquorice shellac as a coating agent for various medicinal formulations, bolstering its consumption in this region. Regulations set by the U.S. Food & Drug Administration (FDA) pertaining to food additives play an important role in shaping the market landscape. The EMEA region exhibits a diverse market landscape for Liquorice Shellac, with Europe leading in consumption. The demand in European countries is primarily fueled by the food and beverage industry, particularly in natural and organic products, which aligns with the region's stringent regulations on food safety and additives. The Middle Eastern markets have shown a growing interest in high-quality confectionery products, subsequently increasing the demand for Liquorice Shellac. The Asia Pacific region showcases an opportunistic landscape for liquorice shellac, with countries such as China, India, Japan, and South Korea at the forefront with expanding food & beverage industry and rising consumer spending on premium confectionery products. The pharmaceutical sector in the region also presents a substantial demand for Liquorice Shellac, driven by increasing healthcare expenditure and a growing population. Local regulations and standards regarding food additives are pivotal in shaping the market, with countries adopting more stringent guidelines to ensure product safety and quality.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Liquorice Shellac Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Liquorice Shellac Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Liquorice Shellac Market, highlighting leading vendors and their innovative profiles. These include Beijing Gingko Group, Botanic Healthcare Group, C.E. Roeper GmbH, Extroil Naturals, F and C Licorice Ltd., Fyna Superior Liquorice Co., Mantrose UK Limited, Nutra Green Biotechnology Co. Ltd., Shaanxi FUJIE Pharmaceutical Co. Ltd., and Taveners.

Market Segmentation & Coverage

This research report categorizes the Liquorice Shellac Market to forecast the revenues and analyze trends in each of the following sub-markets:

Grade
- Food Grade
- Pharmaceutical Grade

Application
- Beverages
- Confectionery
- Pharmaceuticals

Distribution Channel
- Offline
- Online

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Liquorice Shellac Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Liquorice Shellac Market?

3. What are the technology trends and regulatory frameworks in the Liquorice Shellac Market?

4. What is the market share of the leading vendors in the Liquorice Shellac Market?

5. Which modes and strategic moves are suitable for entering the Liquorice Shellac Market?

Product Code: MRR-F97DD5A7D797

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Expanding need to improve the quality and texture of food and beverage products
  - 5.1.1.2. Investments in the pharmaceutical sector for the development of novel coatings
- 5.1.2. Restraints
  - 5.1.2.1. Difficulty in acquiring and developing liquorice plants and variations in quality
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements to improve the quality of liquorice shellac products and improvements in manufacturing processes
  - 5.1.3.2. Development of sustainable and organic liquorice shellac products
- 5.1.4. Challenges
  - 5.1.4.1. Availability of alternative materials to shellac
5.2. Market Segmentation Analysis
- 5.2.1. Grade: Increasing applications of food grade to enhance the appearance and shelf-life
- 5.2.2. Application: Suitability in beverage industry as a flavoring agent, imparting a distinctive sweet, woody, and slightly bitter taste
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Liquorice Shellac Market, by Grade

6.1. Introduction
6.2. Food Grade
6.3. Pharmaceutical Grade

7. Liquorice Shellac Market, by Application

7.1. Introduction
7.2. Beverages
7.3. Confectionery
7.4. Pharmaceuticals

8. Liquorice Shellac Market, by Distribution Channel

8.1. Introduction
8.2. Offline
8.3. Online

9. Americas Liquorice Shellac Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Liquorice Shellac Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Liquorice Shellac Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. HKBU unveils treatment potential of herbal extract compound isoliquiritigenin for pancreatic cancer
- 12.3.2. Licorice leaf extract holds promise as a natural fungicide
- 12.3.3. Active Concepts Launches Zero-waste, Upcycled Anti-aging Ingredients
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio