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.
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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.
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.
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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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