Global
Liquorice Shellac Market Dynamics:
The
growth of the global
liquorice shellac market
is driven by growing demand for processed food, rising use of
prebiotics in animal feed, and growing demand for the confectionary
product. Macroeconomic factors such as growing economy, increasing
per capita income, growing young population changing consumer
lifestyle, the rapid rate of urbanization, and employment rate
driving the global liquorice shellac market. However, factors such as
shortage of liquorice and increasing price of liquorice are expected
to restrain the liquorice shellac market over the forecast period.
High investment costs and product pricing may act as a challenge to
new participants in the market. Increasing R&D with an aim of
application development is expected to provide market participants
with opportunities over the forecast period. Factors trending the
global liquorice shellac market include the merger and acquisition
among the liquorice shellac manufacturers and end-use industries and
high demand for nutraceutical across the globe. The company operates
in the liquorice shellac market have significantly high opportunity
in regions such as Asia-Pacific, Middle East & Africa, and Latin
America attributed to the significantly growing economy.
Liquorice
shellac is an extract of liquorice plant mostly used in the
manufacturing of candies and pharmaceutical products. The global
liquorice shellac market is expected to have significant growth rate,
attributed to growing food and pharmaceutical industry and high
demand for liquorice shellac in the confection. Asia-Pacific except
Japan has substantial growth in the global liquorice shellac market,
owing to rising demand in dietary supplements and increasing
investment in the food industry.
Global
Liquorice Shellac Market Segmentation:
The
global liquorice shellac market is segmented on the basis of
application, end-use, and region. On the basis of application, the
global liquorice shellac market is segmented as confectionary,
processed food, and medical application. Medical application is
further segmented as antimicrobial, antiviral, hepatoprotective,
anti-inflammatory, and others. Among application segment, the
confectionary segment is expected to have a substantial growth rate
in liquorice shellac market, owing to rapidly growing young
population across many regions of the globe. On the basis of end-use,
the global liquorice shellac market is segmented as the food
industry, pharmaceutical industry, and others, wherein food industry
segment have significant revenue share and is expected to have
substantial growth rate, owing to high demand for confectionaries by
young population across the globe.
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Based
on application, the global liquorice shellac market is segmented
into:
Confectionary
Processed
Food
Medical
Application
- Antimicrobial
- Antiviral
- Hepatoprotective
- Anti-inflammatory
- Others
Based
on end-use, the global liquorice shellac market is segmented into:
- Food Industry
- Pharmaceuticals
- Others
Global
Liquorice Shellac Market Regional Outlook:
Based
on the geographies, the global liquorice shellac market is fragmented
into seven regions -- North America, Latin America, Western Europe,
Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East
& Africa. Among the regions, Asia-Pacific except Japan account
for a relatively high value and volume share of the liquorice shellac
market, attributed rapidly growing young population across the
region. The North America region also accounts for the significant
value share in the global liquorice shellac market with substantial
growth rate, owing to the rapidly changing lifestyle of the consumers
and predominance of lifestyle diseases across the region. Eastern
Europe and Japan accounts for moderate value share in the global
liquorice shellac market. The developing economy such as Middle East
Africa and Latin America have a substantial growth in the global
liquorice shellac market. Overall, the outlook for the global
liquorice shellac market will have a positive growth over the
forecast period, growing confectionary industry being counterfeiting
factors.
Global
Liquorice Shellac Market Player:
Few
players in the global liquorice shellac market include Licorice
extract Co., Ltd., Excom Europe Ltd., Ana International, Ferrotex
Ltd., Tawheed Usmani Production Co., Ltd., and S.D. Pharmaceuticals.
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