Liquorice Shellac Market worth $1,262.20 million by 2030, growing at a CAGR of 4.76% - Exclusive Report by 360iResearch

The "Liquorice Shellac Market by Grade (Food Grade, Pharmaceutical Grade), Application (Beverages, Confectionery, Pharmaceuticals), Distribution Channel - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Liquorice Shellac Market to grow from USD 911.07 million in 2023 to USD 1,262.20 million by 2030, at a CAGR of 4.76%.

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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.

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 Segmentation & Coverage:

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

Based on Grade, market is studied across Food Grade and Pharmaceutical Grade. The Food Grade is projected to witness significant market share during forecast period.

Based on Application, market is studied across Beverages, Confectionery, and Pharmaceuticals. The Confectionery is projected to witness significant market share during forecast period.

Based on Distribution Channel, market is studied across Offline and Online. The Online is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.42% in 2023, followed by Asia-Pacific.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Liquorice Shellac Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Liquorice Shellac Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

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.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Liquorice Shellac Market, by Grade
7. Liquorice Shellac Market, by Application
8. Liquorice Shellac Market, by Distribution Channel
9. Americas Liquorice Shellac Market
10. Asia-Pacific Liquorice Shellac Market
11. Europe, Middle East & Africa Liquorice Shellac Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Liquorice Shellac Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Liquorice Shellac Market?
3. What is the competitive strategic window for opportunities in the Liquorice Shellac Market?
4. What are the technology trends and regulatory frameworks in the Liquorice Shellac Market?
5. What is the market share of the leading vendors in the Liquorice Shellac Market?
6. What modes and strategic moves are considered suitable for entering the Liquorice Shellac Market?

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