Chocolate Syrup Market Size, Share, Growth Analysis, By Type(Conventional and organic), By Distribution Channel(B2B and B2C), By Region - Industry Forecast 2024-2031

In 2021, Asia Pacific dominated the global market, accounting for the largest revenue share of 35.9%. The region has experienced rapid development and industrial upgrading in the confectionery industry, leading to increased demand for chocolate-flavored syrups and sweeteners. Moreover, the rising accessibility of these products and the growing presence of major market players in the region are contributing to the market's growth. Younger consumers and millennials in the Asia Pacific are interested in trying out new and international sweet dishes, such as gourmet sweets, donuts, cookies, and pancakes, among others, which further drives market growth.

The Middle East & Africa region is expected to witness the fastest growth rate. This can be attributed to the availability of a wide range of products in authentic flavors and consumers' willingness to experiment with new flavors. Additionally, the interest in baked goods that use chocolate-flavored syrups and sweeteners has increased during and after the COVID-19 pandemic, especially in economies like South Africa. Prominent players such as The Hershey Company, Monin, and Nestlé are expanding their presence in gourmet chocolate-flavored products across the region, which is expected to fuel market growth.