New York, US, June 16, 2022 (GLOBE NEWSWIRE) — Flavored Syrups Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Flavored Syrups Market Information by Type, Category, Distribution Channel, Food Retail, and Region – Forecast till 2030”, the market is estimated to touch USD 59676.9 Million by 2030 at a growth rate of 5.70% between 2022 and 2030.
The syrup market has been experiencing a huge demand from the food and beverage industry. Consumers’ heightened preference for personalized and different flavors in their food has compelled manufacturers to come up with an extensive range of flavored syrups. Flavored syrups comprise natural or artificial flavorings blended with water and sugar.
The flavored syrup market is witnessing significant demand thanks to the expanding dairy and frozen dessert applications, with flavored syrup being used as a taste enhancer as well as a sweetener. Therefore, the flavored syrup market can garner notable traction considering the consumers’ surging preference for natural or artificial taste enhancers in convenience foods.
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|2030 Market Size||USD 59676.9 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Category, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Increase in Population.|
|Increase in Consumer Preference|
Market Competitive Landscape:
The eminent firms in the flavored syrups industry are
- Results SensoryEffects Inc.
- Kerry Inc
- Impact Concord Foods LLC
- TATE & LYLE SUGAR
- Hershey Company
- Stirling Flavors LLC
- Toschi Vignola sr.
- Archer Daniels Midland Company
- JM Smucker Company
- Share price WT Lynch Foods Limited
- Midwestern Syrup Company
- Malabar Food
- AJWA FOOD HELP
- RIO Syrup Company Inc.
- Sonoma Sirafu Co
Market USP Covered:
Flavored syrups are natural/organic add-ons that help sweeten and bolster the taste of the food products in cold drinks, cocktails, and numerous beverages. Consumers have the option of choosing from a vast range of low-calorie syrups, without compromising their health. Massive availability of a variety of personalized flavors bolsters the market demand as well. The heightened preference for natural and organic products will offer attractive opportunities to the brands in the years ahead.
The booming dairy industry worldwide thanks to the surging intake of milkshakes, flavored milk, whipped cream, yogurts, smoothies, and frappes favors the flavored syrup industry. The frozen desserts sector will emerge profitable in subsequent years; which will benefit the flavored syrups market, as these serve as toppings providing a savory taste to the desserts.
Singapore, China, Australia and New Zealand are a few of the top consumers of soft drinks, dairy products and ice cream. This will mean that Asia Pacific will be one of the most successful markets for flavored syrups in the following years.
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Significant sugar levels present in flavored syrups can result in issues for consumers dealing with high-blood sugar or hyperglycaemia. Other than this, with consumers becoming health conscious, there is a higher shift toward zero-sugar diets. This is bound to limit the market growth in the years to come.
COVID 19 Analysis
The COVID-19 outbreak brought the world to a complete standstill, with unforeseen and uncertain effects on people’s lives, communities, livelihoods, and economies. The risks of a worldwide recession, as well as job losses, surged. In this situation, it became imperative to predict the level of uncertainty, for which companies are adopting strategies to maximize returns, despite the market fluctuations.
The financial implications of the lockdown measures have had a profound impact on the flavored syrups market. Supply chain disruptions have been prevalent, hampering the growth prospects of the flavored syrups industry.
With respect to taste, the global market has been considered for acid, mint, candy, and more. The candy segment is ruling the flavored syrups with the biggest share. The mint segment, on the other hand, will procure the highest growth rate owing to its use in beverages, salad dressings, preparation of cookies and pancakes and meat recipes.
The various types of flavored syrups are fruits, herbs and spices, coffee, chocolate, vanilla, and others. Fruit flavor forms the leading segment in the worldwide market, while the chocolate segment should attain the highest CAGR owing to the expanding industrial applications in the development of dairy products, chocolate, frozen desserts, bakeries and ice cream, etc.
The applications of flavored syrups are Bakery, Dried, Beverages, Milky, Confectionery, and others. The beverage segment can expect to capture the highest CAGR in the years to follow, given the escalating use of flavored syrups in iced tea, mocha, tea, flavored soft drinks, coffee, and also make personalized soft drinks.
Asia Pacific occupies the biggest share in the worldwide market and will continue to be the market leader throughout the conjectured period. China is the top performer in the region, thanks to the rising preference for chocolate-flavored syrup and the mounting number of cafes as well as coffee shops. Advancing economic standards along with the surging consumer interest in exploring new recipes will favor the regional market. The market growth in Asia Pacific is further stimulated by the increasing trend of dining out as well as the surging desire to experience new cultures.
North America, with the US in the lead, has a massive number of cafés, restaurants, and bars, where the preference for flavored syrups is extremely high. Flavored syrup is used extensively in cocktails, coffee, desserts, mocktails, and tea. Another reason for the strong market growth in the region can be the substantial consumer awareness of the different varieties available market. The US will be the market leader in the region, considering the high intake of bakery and dairy products and chocolates. Besides, the expansive pool of affluent brands that offer vast lines of custom-made syrups will be favorable for the market.
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