Global Liquorice Shellac Market 2023-2029 | Size, Share, Growth
According to TechSci Research report, “Global Liquorice Shellac Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Liquorice Shellac Market stood at USD 418.5 Million in 2023 and is anticipated to grow with a CAGR of 4.8% in the forecast period, 2025-2029. The global liquorice shellac market is experiencing significant growth, driven by various factors that include increasing consumer preference for natural and sustainable products, expanding applications across diverse industries, and the unique properties of liquorice shellac.
The liquorice shellac market is significantly influenced by the global shift towards natural and sustainable products. As consumers increasingly prioritize clean label items, liquorice shellac, being a natural resin, resonates well with this demand. Its eco-friendly properties and sustainably sourced origin play a pivotal role in driving its increasing popularity across diverse industries.
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Liquorice shellac, derived from the resinous exudate of the licorice plant (Glycyrrhiza glabra), is a versatile natural ingredient widely utilized across various industries, including food, pharmaceuticals, cosmetics, and personal care. Its extraction involves refining the collected resin, resulting in liquorice shellac prized for its film-forming properties, moisture resistance, and environmentally friendly characteristics. The global shift towards natural and sustainable products significantly drives the liquorice shellac market, as consumers increasingly seek clean label options. Its eco-friendly attributes and sustainable sourcing further enhance its appeal across industries. In the food sector, liquorice shellac serves as a popular glazing agent, coating, and surface finish for confectionery, chocolates, and baked goods, meeting the demand for visually appealing and natural food products.
In the cosmetic and personal care industry, there’s a rising preference for natural ingredients, leading to the inclusion of liquorice shellac in formulations such as lipsticks, mascaras, and hair styling products, aligning with the clean beauty movement. Moreover, its film-forming properties make liquorice shellac a valuable ingredient in pharmaceutical formulations, used for coating tablets and capsules and providing enteric coatings. Technological advancements in extraction processes, including green extraction techniques and processing technologies, aim to enhance efficiency, yield, and sustainability. Continuous research and development efforts in extraction methods contribute to improving liquorice shellac quality, expanding its applications, and ensuring consistency in properties. While traditionally utilized in food, pharmaceuticals, and cosmetics, the liquorice shellac market is witnessing diversification in applications, with ongoing innovations in formulations and product development driving its adoption across various sectors.
The global Liquorice Shellac market is segmented into type, distribution channel, and region.
In terms of type, refined shellac emerges as the dominant player in the market, owing to its versatility and superior quality. Refined shellac undergoes a purification and filtration process to eliminate impurities, waxes, and color from raw shellac, thereby enhancing its quality and consistency. This refined form of shellac finds widespread applications across various industries due to its enhanced properties. Regionally, Asia-Pacific holds a leading position in the liquorice shellac market, primarily attributed to several factors. Firstly, Asia-Pacific boasts major licorice-producing countries such as India and China, which play a significant role in the availability of licorice, the primary raw material for liquorice shellac extraction.
Major companies operating in global Liquorice Shellac market are:
- M/S. D. Manoharlal Pvt Ltd
- Mantrose UK Ltd
- Temus PTE. LTD.
- Tianjin Sunresin New Material Co. Ltd.
- Golden Shellac Corporation
- Kusum Shellac Industries
- Shellac Exports International
- Shiva Shellac Industries
- Jain Shellac Industries
- SHEKAR INDUSTRIES PRIVATE LIMITED
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“The liquorice shellac market is experiencing robust growth driven by a surge in demand for natural and sustainable ingredients across diverse industries. Factors such as the rising popularity of liquorice shellac in the food, pharmaceutical, and cosmetic sectors, coupled with its unique properties, contribute to market expansion. Increased awareness among consumers regarding clean label products further fuels the growth. The dominant presence of licorice-producing regions, particularly in Asia-Pacific, plays a pivotal role, fostering a resilient supply chain. As technological innovations continue and market penetration strategies unfold, the liquorice shellac market is poised for sustained and significant growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Liquorice Shellac Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Bleached Shellac, Dewaxed Shellac, Refined Shellac), By Application (Food, Pharmaceuticals, Industrial, Others), By Region, By Competition, 2019-2029, has evaluated the future growth potential of global Liquorice Shellac market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Liquorice Shellac market.
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