- Market Research
- Shellac Market Segmentation By type - Waxed Shellac,Dewaxed shellac,Bleached shellac; By grade - Orange,Lemon,Garnet,Black,Others; By form -Flakes,Discs/Buttons,Liquid; By process - Machine made, Hand mad; By end user industry - Fruit Coating,Cosmetics,Pharmaceuticals,Paints & Varnishes,Textile,Industrial,Others
Market Outlook for Shellac:
Shellac is a resin obtained from the lac secreted by the female lac bug as a protective cocoon for their larvae. This lac is present on the trees growing in South East Asia in countries such as India, Myanmar, Indonesia, and Thailand. It is used as a surface glazing agent in a plethora of applications. Shellac is an edible resin and is used in both food and non-food end-use industries. It is usually processed further to obtain different grades which suit the end use industry. It is the shiniest coating ingredient available for industrial applications and hence faces unbeatable competition in the market. A record of substitutes of vegetable origin have been launched on the market but shellac outstrips the beneficial functions of these substitutes.
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Shellac shines as a safe coating ingredient in the food sector
The use of shellac as a glazing and coating ingredient for fruits and pharmaceuticals industry is expected to drive the demand for in the market. Besides making fruit coats shinier and more attractive, shellac also lends an enhanced shelf life to the fruits. Lately, there has been a tremendous rise in the demand for shelf-life stable fruits and vegetables and retail outlets have also contributing to cater to this demand, which acts as a significant driver for the growth of the shellac market.
On the other hand, shellac has been met with sustainability and clean-label issues in the developed economies. It has especially become unpopular amongst the vegan demo graph, who are condemning products coated with shellac. Marketers have even taken to promote shellac-free products, which is a major setback hindering the growth of the market. Most noteworthy are the socio-political issues arising in the Middle-Eastern regions which have obstructed India’s shellac exports. The Middle East was the major location through which Indian shellac reached the North American and European continents, but due to political instability, it has severed off export channels of Indian non-woof forest products, globally.
The demand for shellac for the industrial purpose such as automobiles and electrical is particularly high in developed regions and more applications are being explored through research.
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Global Shellac Market: Segmentation:
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Global Shellac Market: Key Takeaways
In October 2018, the company Pace International, which develops fruit preservatives and protectants, launched a new fruit coating- PrimaFresh® 606 GL which has a shellac base. This product was specifically launched to enhance the freshness and nutritional quality of fruits.
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Opportunities for the Market Participants:
The international trade ties between the shellac producing regions and consuming regions are considerably weak. Collecting, processing, and selling of non-wood forest product is a major source of livelihood for some locals in the small developing countries. Hence, their efforts to expand markets is quite limited. With adequate support and guidance from government bodies and organizations, the market potential can be strategically untapped, fuelling the growth of the market.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges in the Shellac Market
- Competition & Companies involved
- Technology Used In the Extraction and Refining Of Shellac Market
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from shellac industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of the shellac. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the Shellac industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments in the shellac market
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for shellac market players to sustain and enhance their market footprint