Flavored Syrups Market
Overview, Trends & Share Analysis 2032

Market Scope

Flavored Syrups
Market Size was valued at USD 40.5 Billion in 2022. The flavored syrups market
industry is projected to grow from USD 42.63 Billion in 2023 to USD 64.2429 Billion
by 2032, exhibiting a compound annual growth rate (CAGR) of 5.26% during the
forecast period (2023 - 2032).

The Flavored Syrups market research report provides a
comprehensive analysis of the global flavored syrups industry, offering
valuable insights into market trends, growth drivers, competitive landscape,
and consumer preferences. It delves into the diverse range of flavors,
applications, and regional dynamics, helping businesses make informed decisions
and strategize effectively in this dynamic and evolving market. With
data-driven analysis and market forecasts, this report serves as an essential
tool for industry stakeholders seeking to navigate the competitive landscape
and capitalize on emerging opportunities in the flavored syrups market.

Growth Boosters
and Impediments

Flavored syrups are
organic and are mostly used to sweeten and elevate the taste of food products
in cocktails, cold drinks, and various other beverages. Consumers can choose
from a wide variety of low-calorie syrups, thereby not making the compromise on
their health. Vast availability of different personalized flavors also add to
the market value. Growing preference for organic and natural products among
consumers should present attractive opportunities to the manufacturers in the
years ahead.

The dairy sector
has been booming rapidly, in view of the rising consumption of flavored milk,
milkshakes, yogurts, whipped cream, frappes and smoothies among consumers
leading a healthy lifestyle. This factor is touted to favor the flavored syrup industry
to a large extent. The frozen desserts market is projected to emerge quite
profitable in the coming years; ultimately benefitting the flavored syrups
industry, since these are used as toppings to offer savory taste to the
desserts. China, Singapore, New Zealand, and Australia are the biggest
consumers of ice cream, soft drinks and dairy products, which means that Asia
Pacific will offer a host of growth opportunities to the global vendors in
subsequent years.

Segmental
Review 

Flavored syrups
industry has been segregated with respect to type, category, and distribution
channel.

Different types
of flavored syrups in the market include fruits {Blueberry, Strawberry, Orange
Apple, and more}, Chocolate, Mint, Coffee, Caramel, Vanilla, Nuts, Blends, and
others.

Depending on category,
the segments are conventional and organic. Organic products have been gathering
intense momentum worldwide as people are growing aware about the toxic effects
of pesticides and chemicals on health. In view of this, the segment will
capture the highest growth rate in the following years.

Distribution channels
that sell flavored syrups are food retail and foodservice. The lead has been
secured by the foodservice segment, which is presumed to touch USD 35,820.3
million by 2026-end. It is also projected that the foodservice segment will
thrive at a better rate of 5.9% from 2020 to 2027. In 2019, the segment had
captured the biggest share of 62.20% in the global market, since flavored
syrups are popular items in the foodservice sector and are used extensively in mocktails,
cocktails, baked products, dairy products, and coffees for taste enhancement.

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Regional Insight

Europe, Asia
Pacific/APAC, North America, as well as RoW/rest of the world are the primary
markets for flavored syrups worldwide.

Asia Pacific
owned the highest share of 33.81% in 2019 and is therefore, identified as the
market leader out of all the regions. It is anticipated that the APAC market
would capture a growth rate of 6.0% between 2020 and 2027. China is ahead of
other markets in the race, given the booming sales of flavored syrup and the soaring
number of cafes and coffee shops. Improving economic standards and the high
interest in trying new recipes has been favorable for the regional market,
especially for chocolate syrup. The market growth is also stimulated by the
emerging trend of eating or dining out while the rising desire to explore new
cultures and eagerness to try new food items will also leave a positive impact
on the sales of flavored syrups.

North America,
especially the US, has a vast number of bars, cafés, and restaurants, which has
been tremendous for flavored syrups, as the latter is used extensively in coffee,
cocktails, tea, desserts and mocktails. Another favorable aspect can be the
significant consumer awareness about the different options available in the
market. It is expected that the US market will display the strongest gains in
the region, given the high consumption of dairy and bakery products as well as chocolates.
The massive pool of renowned vendors offering extensive ranges of custom-made syrups
should also foster the market size in the following years.

Eminent Vendors

Flavored syrup
manufactures in the global industry are The J.M. Smucker Company (US), Kerry
Group plc (US), Monin, Inc. (France), VKL Seasoning Pvt. Ltd (India), Amoretti
(US), Conagra Brands, Inc. (US), The Hershey Company (Ireland), Nestlé S.A.
(Switzerland), R. Torre & Co. (Torani) (US), and many more.

Recent News

February 2021

Monin has
launched 2021’s first flavored syrup, Monin Strawberry Rose that is a combination
of flavors like rose florals and ruby red strawberry. The syrup offers notes of
soft rose as well as candied strawberry and can be used in different receipts,
such as teas, desserts, lemonades, cocktails, dressings, lattes, sparkling
waters, to name a few.

Key
Players are:

Flavored Syrups market players included J.M. Smucker Company (US), Wholesome
Sweeteners Inc. (US), Conagra Brands, Inc. (US), VKL Seasoning Pvt. Ltd.
(India), Nestlé S.A. (Switzerland), The Hershey Company (US), Kerry Group plc
(Ireland), R. Torre & Co. (Torani) (US), Amoretti (US), and Monin, Inc.
(France).

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