Global Flavored Syrups Market to Surpass US$ 79.2 Bn by 2029
The global food-grade gases market is projected to reach US$ 79.2 Bn by the end of 2029. The market was valued at US$ 48.6 Bn in 2019. If these figures hold true, the market will exhibit a CAGR of 5% between 2019 and 2029. The market for flavored syrups is expected to expand as customer demand for a variety of flavors in food products and customized flavor choices and variety of products increases. Other factors driving market growth include rising customer preference for ready-to-eat and convenience foods.
Key Research Findings
- Over the next few years, the market for syrups is expected to rise as an organic commodity that is widely available in a variety of low-calorie formulations.
- Increasing variety of flavours in food products are expected to trigger growth in the market for flavoured syrups over the forecast period.
- Growing consumer preferences for convenience foods and ready-to-eat products are projected to fuel growth in the demand for flavoured syrups over the forecast period.
- The popularity of syrups in the production of drinks and as additives in yoghurts and frozen desserts is also likely to foster market growth.
- The largest share of the flavoured syrups market has been in North America.
- Asia Pacific is expected to grow at the highest CAGR.
- The bakery sector is expected to see substantial growth due to the abundant availability of high-quality products such as chocolates, toppings, fillings and flavours.
Key Factor(s) Influencing the Flavoured Syrups Market
Rising Preference for Flavour-Based Beverages: In recent years, consumer preference for flavoured drinks has burgeoned market prospects for flavoured syrups market. Syrups based on chocolate, caramel, vanilla, fruit, malt and coffee flavours have found increased popularity as taste enhancers. This is prompting key market players to invest in this domain.
High Levels of Sugar in Synthetic Sweeteners: Most of the flavoured syrups contain high sugar, which can lead to problems among consumers battling hyperglycaemia, or high-blood sugar. Moreover, consumers are also becoming more health conscious, thus shifting towards zero-sugar diets. This factor is anticipated to limit market opportunities for the flavoured syrups market.
COVID-19 Impact Analysis on Market
The outbreak of COVID-19 has brought our world to a standstill, with unimaginable and unforeseen effects on our lives, economies, communities, and livelihoods. The risks of a global recession and massive job losses are increasing. In such a situation, where it is possible to predict continued uncertainty, it is prudent to employ strategies that maximize returns, irrespective of market fluctuations. The economic implications of rules that enforce social-distancing to contain the virus will have a profound market impact. Supply chain disruptions are likely, which could hamper the overall growth prospects of the flavoured syrups market.
Flavoured Syrups Market Structure Analysis
- The global flavoured syrups market share is highly concentrated, with prominent players such as Monin Inc., Sensient Technologies, The Hershey Company, Tate & Lyle, Kerry Group, Fuerst Day Lawson, Toschi Vignola, R. Torre & Company, Concord Foods, Sensory Effects, NutriFood, and Mitr Phol Group.
- Companies are engaged in the production of sugar-free syrups for health-conscious customers to minimize extra consumption of sugar.
- Key players are more likely to manufacture organically flavoured syrups in order to meet consumers' rising desire for natural food additives. That has also contributed to increased product sales.
Base year considered
Actual estimates/Historical data
2014 - 2018
2019 - 2029
Value (USD) Bn
Product Type, Application and Region
North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA
Monin Inc., Sensient Technologies, The Hershey Company, Tate & Lyle, Kerry Group, Fuerst Day Lawson, Toschi Vignola, R. Torre & Company, Concord Foods, Sensory Effects, NutriFood, and Mitr Phol Group
Revenue forecast, company share, competitive landscape, growth factors, and trends
Demand for Fruit flavored syrups will Boost Growth
Owing to their extensive use in alcoholic products such as cocktails, soda and cold beverages, and soft drinks, fruit flavored syrups have dominated the global market. Increasing customer demand for high fruit content syrups has been a major factor pushing manufacturers to launch a large variety of naturally ingredient-infused syrup. For example, raspberry and orange are among the two most preferred fruit flavours. In addition, the willingness of consumers to try different and unique fruit flavors encourages manufacturers to develop duo-fruit syrups such as lime-ginger, lime mint, and raspberry mint which offer a mixture of sour, sweet, and bitter taste. Such syrups are primarily used in biscuits, cookies, waffles, assorted breakfast foods, ice cream and other ready-to-eat items as a topping component.
In the coming years the market is expected to pick pace as the demand from South Asia and Europe increases. Furthermore, increasing application in dairy products and frozen desserts will remain chief drivers of the market.
Economic Expansion to Offer Major Growth Opportunities in Developing Nations
The highest share in North America was 31.3 percent. Growth in the market for flavored syrups is primarily due to customer demand for flavored syrup in regular meals such as cereals, snacks, sweets, and beverages. Because of the wide availability of high quality ingredients such as chocolates, toppings, fillings and flavours, the bakery industry is expected to see significant growth in this area. It, in addition, encourages the use of flavored syrups in the food and beverage market. Thanks to their low prices, bakery products are considered a product of mass consumerism. In addition, the ability of customers to eat sweet foods has led manufacturers to launch novel products filled with flavored syrups. Several foreign firms have entered the Asian market and have succeeded in making fast inroads in this sector.
Increasing Consumer Preference towards Convenience Foods & Ready-to-Eat Products Aiding Growth
Rising in processed food demand and convenience due to easy availability through efficient distribution channels accompanied by growing working demographics that favor growth in the industry. The availability of powdered syrups in RTE food products for versatile and easy preparation would likely contribute to the market size of the flavored syrup. Growing consumption of dairy products including milkshakes, flavored milk, whipped cream, yogurts, smoothies, and frappes due to consumer preference for leading a healthy lifestyle can influence the growth of the flavored syrup market. They are used for topping which gives food products discrete tastes.
The major restriction faced by the global market for flavored syrup, however, is the presence of high sugar content used as an artificial sweetener, which is a major cause of health hazards such as high blood sugar, diabetes and stomach upsets. Maize syrup produced domestically proves to be a major restraint to growing the flavored syrup market.
Fruit segment held the leading market share
Chocolate segment forecast to higher rate of growth
Beverages segment holds dominance
Bakery & confectionary segment to rise at a higher CAGR
How Growth will Unfold
Rising demand from the food and beverage industry for flavored syrups is expected to boost the global market for flavored syrup. Flavored sugar along with a flavor enhancer agent acts as an artificial sweetener. Apart from sweet flavored syrup, the savory flavored syrup extends beverage applications beyond. Savory flavored syrups are used in salad dressing, meat recipes, confectionery preparation, and bakery products.
Nevertheless, demand for chocolate-flavored syrup plays a major role in the growth of the global market for flavored syrup due to the taste preferences of the consumers for chocolate flavor in their food. In addition to being one of the drivers for the flavored syrup industry, customer preferences for different flavored syrup in convenience foods are also expected to fuel global demand growth for flavored syrups. The pharmaceutical industry is also contributing to increased competition on the market for flavored syrup due to the need for flavored syrup in medicines to make them taste better.
In addition to aforementioned factors, growth strategies adopted by tier one, two and three companies will prove crucial for the market’s future. Successful implementation and execution of their growth startegies will aid the overall expansion of the market.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Flavored Syrups Market: Global Industry Analysis 2015-2019& Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Flavored Syrups market offers global industry analysis for 2015-2019 & opportunity assessment for 2019-2029. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Flavored Syrups market, the growth prospects of the market are obtained with maximum precision.
Flavored Syrups Market Taxonomy
The global Flavored Syrups market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Herbs & Seasonings
- Diary & Frozen Desserts
- North America
- Latin America
The executive summary of the Flavored Syrups market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global Flavored Syrups market.
Readers can find the detailed segmentation and definition of the Flavored Syrups market in this chapter, which will help them understand basic information about the Flavored Syrups market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the Flavored Syrups market report.
The associated industry assessment of the Flavored Syrups market is carried out in this section. The macroeconomic factors affecting growth of the Flavored Syrups market are provided in this section and the impact of these macroeconomic indicators on the Flavored Syrups market is analyzed. The processing overview and technological advancements in the Flavored Syrups market is also provided.
Profit margins at each level of the Flavored Syrups market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the Flavored Syrups market.
The drivers and restraints impacting the growth of the Flavored Syrups market are explained in this chapter. Opportunities and ongoing trends in the Flavored Syrups market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Flavored Syrups market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on Flavor, the Flavored Syrups market is classified into Fruit, chocolate, vanilla, coffee, herbs & seasonings. This part also offers market attractiveness analysis based on Flavor.
Based on application, the Flavored Syrups market is classified into beverages, dairy &frozen desserts, confectionery and bakery. This part also offers market attractiveness analysis based on application.
Based on Flavor type, the Flavored Syrups market is classified into Sweet, salty, sour, savory and mint. This part also offers market attractiveness analysis based on flavor type.
Based on Product type, the Flavored Syrups market is classified into natural and synthetic. This part also offers market attractiveness analysis based on product type.
This chapter explains how the Flavored Syrups market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the Flavored Syrups market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the Flavored Syrups market in Latin America. This chapter also includes growth prospects of the Flavored Syrups market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Flavored Syrups market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic,Russia, Poland, and the Rest of Western Europe are included in this chapter.
This chapter includes a detailed analysis of the growth of the Flavored Syrups market in the East Asia region, along with a country-wise assessment that includes Japan, China, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APEJ region.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia Flavored Syrups market.
This chapter offers insights into how the Flavored Syrups market is expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the market growth of Flavored Syrups in Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the Flavored Syrups market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the Flavored Syrups market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Monin Inc., Sensient Technologies, The Hershey Company, Tate & Lyle, Kerry Group, Fuerst Day Lawson, Toschi Vignola, R. Torre & Company, Concord Foods, Sensory Effects, NutriFood, and Mitr Phol Group, Wild Flavors, Inc.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Flavored Syrups report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the Flavored Syrups market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits