Liquorice Shellac Market by Grade (Food Grade, Pharmaceutical Grade), Application (Beverages, Confectionery, Pharmaceuticals), Distribution Channel - Global Forecast 2024-2030

Liquorice Shellac Market by Grade (Food Grade, Pharmaceutical Grade), Application (Beverages, Confectionery, Pharmaceuticals), Distribution Channel - Global Forecast 2024-2030

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.

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.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Liquorice Shellac Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Expanding need to improve the quality and texture of food and beverage products
Investments in the pharmaceutical sector for the development of novel coatings

Market Restraints

Difficulty in acquiring and developing liquorice plants and variations in quality

Market Opportunities

Advancements to improve the quality of liquorice shellac products and improvements in manufacturing processes
Development of sustainable and organic liquorice shellac products

Market Challenges

Availability of alternative materials to shellac

Market Segmentation Analysis

Grade: Increasing applications of food grade to enhance the appearance and shelf-life
Application: Suitability in beverage industry as a flavoring agent, imparting a distinctive sweet, woody, and slightly bitter taste

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Liquorice Shellac Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Liquorice Shellac Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

HKBU unveils treatment potential of herbal extract compound isoliquiritigenin for pancreatic cancer

Hong Kong Baptist University, in its innovative research, unveiled the anticancer capabilities of isoliquiritigenin (ISL), a flavonoid derived from licorice, in combating pancreatic cancer. This groundbreaking study impedes pancreatic cancer growth and boosts the effectiveness of standard chemotherapy treatments. Leveraging network pharmacology to map out the interactions between phytochemicals from licorice and pancreatic cancer markers, discovered ISL's distinct mechanism of action blocking autophagy, leading to cancer cell death, and exhibiting lower toxicity in comparison to traditional chemotherapeutics.

Licorice leaf extract holds promise as a natural fungicide

Germany-based Federal Research Centre for Cultivated Plants (JKI) unveiled promising results that showcase the potential of certain licorice varieties to enhance plant resilience against biotic stressors, such as fungi and bacteria. This effort delved into the plant's antifungal and antibacterial properties and its capability to fortify the plant's immune system. This groundbreaking study highlighted that while the industry primarily values licorice roots, the plant's leaves, often seen as byproducts, possess potent attributes for developing plant protection products suitable for both conventional and organic farming.

Active Concepts Launches Zero-waste, Upcycled Anti-aging Ingredients

Active Concepts has introduced revolutionary zero-waste, upcycled anti-aging solutions, AC OleaShield and AC AmaraSense, utilizing potent natural ingredients from olive water, licorice root, white willow bark, and artichoke leaf extracts. AC OleaShield harnesses the power of bio-fermented olive water enriched with Lactobacillus to stimulate cellular autophagy, reduces the appearance of wrinkles, and enhance skin elasticity by leveraging the antioxidant properties of polyphenols.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Liquorice Shellac Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

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

Please Note: PDF & Excel + Online Access - 1 Year