Flavoured Syrups Market Size Estimated to Reach $52.9 Billion by 2025
The Flavoured Syrups Market size is estimated to reach $52.9 Billion by 2025, growing at a CAGR of 4.12% during the forecast period 2020-2025. The Syrups are defined as the dense blend of water and sugar, which adds sweetness and taste to foods such as fruit, chocolate, coffee, and vanilla flavored, among others. Increasing popularity of the varieties of flavors in food products and rising disposable income are some of the factors driving market growth during the forecast period 2020-2025.
Flavoured Syrups Market Segment Analysis - By Flavour Type
Based on Flavour Type, Flavoured Syrups Market is segmented into Chocolate, Vanilla, Maple, Coffee, Fruits, Herbs and Species, and others. The fruit flavour segment holds the largest share in terms of revenue in 2019. This is owing to rise in demand for fruit-flavored drinks are set to provide lucrative growth opportunities for the beverage flavors formulators in the region. The Chocolate flavour segment is set to be the fastest-growing CAGR 4.98% during the forecast period 2020-2025. This is owing to the growing demand for chocolate flavoured syrups for cold beverages and confectionary products in the food and beverages industry.
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Flavoured Syrups Market Segment Analysis - By Application Type
Based on Application type, Flavoured Syrups Market is segmented into Confectionery and Bakery Products, Dairy and Frozen desserts, Beverages, and among others. The beverages segment held the largest share in 2019. This is owing to increasing trend of using cold and hot beverages such as iced tea, coffee, mochas, flavored sodas and customized cocktails and mocktails at foodservice outlets all over the world. However, The Bakery and confectionary segment is set to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to increasing consumer preferences for products such as bread, cakes pies, rolls, pastries, cookies, crackers, and pretzels and is set to fuel the segment growth during the forecast period 2020-2025.
Flavoured Syrups Market Segment Analysis - By Geography
Based on Geography, The Flavoured Syrups Market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America region dominated the Flavoured Syrups Market in 2019 with a share of 33.1%. This is owing to increased consumption of convenience foods, dairy and frozen dessert products in the region. However Asia Pacific is set to be the fastest growing CAGR during the forecast period 2020-2025. This is owing to the increasing number of restaurants, increasing economic standards, and large scale consumption of dairy products, and ice creams in Asia Pacific region.
Flavoured Syrups Market Drivers
Growing demand for flavoured syrups by the food and beverages industry
The main activities flavoring syrup in the food and beverages industry include soft drinks concentrates, frozen dessert topping addictives for yogurt, flavoring powders, and multiflavoured beverages syrups for the use in food and soft drinks. The fruit flavored syrup is widely applied to beverages products such as soda, soft drinks cocktails and are dominates the Flavoured Syrups Market. However, The food and beverage industry being one of the drivers for the flavored syrup market, consumers preferences for different flavored syrup inconvenience, foods are about to boost up the global flavored syrup market growth.
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Flavoured Syrups Market Challenges
The presence of high sugar content which is used as an artificial sweetener and it becomes a major cause for health issues. Such as stomach upset, diabetes, high blood sugar and among other problems.thse are the main factors that delay the growth of the flavoured syrups market. However, the availability of substitute products in the market is set to restrain the growth of the market.
Flavoured Syrups Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Flavoured Syrups Market. Key companies of this market are Wild Flavors, Inc, The Hershey Company, Kerry Group Plc, Sensient Technologies Corporation, Tate & Lyle Plc, Monin, Inc, Concord Foods Inc, Fuerst Day Lawson, The J.M. Smucker Company, and Starbucks Coffee Company among others.
Flavoured Syrups Market Developments:
In July, 2016, Concord Foods Inc launches Concord caramel dip. As a leading caramel manufacturer, Concord Foods has used its expertise to create a caramel dip that not only tastes great, but is made with simple ingredients, NO artificial flavors, colors or preservatives, NO high fructose corn syrup and is Non-GMO. This is set to be the first clean label caramel dip in the produce department.
Key Takeaways
Geographically, The North America region held the highest market share in 2019. This is owing to Economic Developments and changing food consumption pattern in the region.
The factors such as High demand for food additives and flavours from these regions influencing the high production volume of flavoured syrups lead to growth of the market during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Flavoured Syrups Market.
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