Market Scope
Market Research Future (MRFR) projects The market for flavored syrups is expected to grow at a CAGR of 5.1% from 2022 to 2030, with a projected size of around USD 51.31 billion by 2030.
Growth Drivers and Challenges
Flavored syrups are popular given their organic nature, extensively used for imparting sweetness to food products and improve their taste. Some of the common food products in which flavored syrups are used include cold drinks, cocktails, and several other beverages.
A vast range of low-calorie syrups are currently sold in the market, which helps consumers maintain their health. Availability of various personalized flavors adds to the appeal of flavored syrups as well. Surging preference for natural and organic products worldwide should provide lucrative business opportunities to the vendors in the years to come.
With the rapidly booming dairy industry across the globe, consumption of milkshakes, flavored milk, whipped cream, yogurts, smoothies, and frappes has surged exponentially among consumers. This is the result of the heightened focus on a healthy lifestyle, which will facilitate further growth of the flavored syrup industry. The frozen desserts segment can expect to attain a prime position in the worldwide market in subsequent years. Singapore, China, Australia, and New Zealand are the top consumers of soft drinks, dairy products, and ice cream; making Asia Pacific one of the most profitable markets for flavored syrups.
Segmental Review
Flavored syrup types available in the global industry are Blends, fruits {Orange Apple, Strawberry, Blueberry, and more}, Mint, Chocolate, Caramel, Coffee, Nuts, Vanilla, and others.
The major categories discussed in the study are organic as well as conventional.
Distribution channels selling flavored syrups include food retail as well as foodservice.
Regional Insight
Asia Pacific owns maximum portion of the worldwide Flavoured Syrups Market Overview, which accounts for 33.81% as recorded in 2019. As the global leader, the APAC market will be observing robust growth at a rate of 6.0% over the following years, with China reckoned to be the top performer. The escalating number of restaurants, bakeries, coffee shops, and cafes in the country, paired with the rising economic standards would also bolster the market value. Consumers in the region are showing great interest in exploring new recipes that involve the use of flavored syrups, especially chocolate syrup. The rapidy surging trend of dining out and the eagerness to consume new recipes will further elevate the market share in the approaching years.
North America, with the US in the lead, has a massive number of cafés, restaurants, and bars, which pushes the demand for flavored syrups. These are majorly used in cocktails, coffee, desserts, mocktails, and tea, in the region. Another growth enhancing factor can be the heightened awareness level among consumers about the varieties available in the market. The US market size will be burgeoning rapidly in the years ahead, thanks to the rising sales of dairy, several bakery products along with chocolates.
Eminent Vendors
The favored syrup brands and distributors in the global industry are Monin, Inc. (France), VKL Seasoning Pvt. Ltd (India), The Hershey Company (Ireland), Kerry Group plc (US), R. Torre & Co. (Torani) (US), The J.M. Smucker Company (US), Nestlé S.A. (Switzerland), Amoretti (US), Conagra Brands, Inc. (US), and many more.
Recent News
December 2021
Death & Co, a popular New York City bar, has released a range of cocktails that contain spirits, in partnership with The Craft Spirits Cooperative. The first three products will be Ranger Buck (ginger syrup, birch, amaro, and Woody Creek Bourbon), Moonsail Fizz (vanilla syrup, red bitter liqueur, Bimini Gin, lime, and passion fruit), along with Aurora Highball (mint syrup, pear brandy, Woody Creek Vodka, green tea, and sake).
According to the MRFR reports, the global Flavoured Syrups Market Size is likely to attain a over USD 51.31 Billion by the end of 2030 while flourishing at a healthy CAGR of over 5.1% during the forecasted era.
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