Liquorice Shellac Market

Market Overview:

The global liquorice shellac market size reached US$ 1.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.55% during 2024-2032. The increasing product utilization in the food and beverage (F&B) industry, growing product adoption in the pharmaceutical industry, and the rising demand for natural and clean-label products represent some of the key factors driving the market.

Liquorice shellac is a naturally occurring amorphous and resinous substance used in candies, gums, and other sweet treats. Its production involves mechanical processing of raw resins, filtration, heat treatment, solidification, grinding, and packaging. Liquorice shellac is widely used as a glossy and protective coating on chocolates, gumdrops, tablets, capsules, baked goods, dietary supplements, lipsticks, nail polish, and hair sprays. It’s a cost-effective and versatile substance that improves product quality, enhances visual appeal, increases shelf life, and creates a protective barrier against moisture, air, light, and other environmental factors. It also adds a sweet and tangy flavor, which enhances the overall flavor profile, improves the texture, and maintains freshness for an extended period. As a result, liquorice shellac finds extensive applications across the food and beverage (F&B), confectionery, bakery, cosmetics, personal care, pharmaceutical, and tobacco industries.

Liquorice Shellac Market Trends:

The increasing utilization of liquorice shellac in the food and beverage (F&B) industry is one of the primary factors providing a thrust to the market growth. Liquorice shellac is widely used as a natural food additive and flavor enhancer in pastries, cookies, donuts, fruit products, nuts, and seeds, owing to its sweet and tangy taste. Along with this, the widespread product adoption as a glazing agent in confectionery to provide a shiny and protective coating, enhance the appearance, and preserve the freshness of candies, chocolates, and gums is acting as another growth-inducing factor. Furthermore, the growing product demand in the pharmaceutical industry as a coating material for tablets and capsules, which provides a smooth and protective layer, masks the taste and odor of the active ingredients, improves swallowability, and enhances product stability, is favoring the market growth. Additionally, the widespread product adoption as a natural ingredient that does not contain any synthetic or artificial additives owing to the rising demand for natural and clean-label products due to the rising health consciousness among the masses, is positively influencing the market growth. Moreover, the increasing product application in the cosmetics and personal care industry to provide protection and improve the texture of lipsticks, balms, creams, lotions, nail polishes, and hair sprays is contributing to the market growth. Other factors, including the increasing preference for natural flavors, growing expenditure capacities of consumers, widespread product utilization in traditional remedies, and rising awareness among the masses regarding various product benefits, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global liquorice shellac market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type and application.

Type Insights:

• Hot Filtration
• Solvent Method
   

The report has provided a detailed breakup and analysis of the liquorice shellac market based on the type. This includes hot filtration and solvent method. According to the report, hot filtration represented the largest segment.

Application Insights:

• Food Industry
• Pharmaceuticals
• Others
   

A detailed breakup and analysis of the liquorice shellac market based on the application has also been provided in the report. This includes the food industry, pharmaceuticals, and others. According to the report, food industry accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for liquorice shellac. Some of the factors driving the North America liquorice shellac market included significant growth in the F&B industry, changing consumer dietary preferences, and growing demand for natural ingredients.  

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global liquorice shellac market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include M/S. D. Manoharlal Pvt, Mantrose UK Limited (RPM International Inc), Temuss Products Canada Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global liquorice shellac market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global liquorice shellac market?
• What is the impact of each driver, restraint, and opportunity on the global liquorice shellac market?
• What are the key regional markets?
• Which countries represent the most attractive liquorice shellac market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the liquorice shellac market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the liquorice shellac market?
• What is the competitive structure of the global liquorice shellac market?
• Who are the key players/companies in the global liquorice shellac market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the liquorice shellac market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global liquorice shellac market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the liquorice shellac industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.