USD 51.2 billion
Flavored Syrup Market Size, Share, Growth Analysis, By Product(Fruit, Chocolate, Vanilla, Coffee), By Distribution Channel(B2B and B2C), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30G2021 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
77
Flavored Syrup Market Insights
Global Flavored Syrup Market size was valued at USD 51.2 billion in 2021 and is poised to grow from USD 52.7 billion in 2022 to USD 70.2 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).
The increase in demand for personalized flavors in the food and beverage industry is responsible for the market's expansion. Growing consumer preference for convenience and ready-to-eat foods is another element influencing the market. The demand for flavored syrups has been slightly impacted by COVID-19. Due to limitations on consumer movement and outside dining, the sales of flavored syrups in hotels and restaurants have decreased. In 2020, however, the demand for household consumption remained largely stable as the work-from-home culture encouraged people to cook a variety of meals at home and buy new ingredients like flavored syrups. This element contributed to the market's expansion during the pandemic. During the projection period, demand in the industry is likely to increase as the worldwide market is anticipated to recover to pre-lockdown levels as lockdowns ease and customers return to hotels and restaurants.
Due to their extensive use in a variety of drinks, including soda, cold drinks, cocktails, and soft drinks, fruit-flavored syrups have been the market's top sellers. Additionally, producers have released a variety of syrups infused with natural ingredients in response to consumer demand for syrups with a high fruit content, which is expected to accelerate market expansion. The two most popular fruit flavors, for instance, are orange and raspberry. In addition, the desire of consumers to experiment with novel and uncommon fruit flavors is inspiring the makers of duo-fruit syrups like Lime-Mint, Raspberry-Mint, and Lime-Ginger, which offer a blend of the sweet, sour, and bitter taste.
Additionally, to satisfy consumers' ever-changing palate preferences, producers are developing and launching new flavors, which is assisting in the expansion of the global industry. A new product category comprising honey with distinctive flavors, such as baked apples with honey, elder-lime with honey, and raspberry-lemon balm with honey, was for instance introduced by the gi fruit syrups line.
Additionally, growth is being fueled by the rising popularity of flavored syrups in western nations like the U.S., Germany, the U.K., France, and Canada. Additionally, the expansion of the global market has been aided by the increased production and consumption of these items in the aforementioned nations. These syrups are mainly used as a topping for ready-to-eat foods such ice cream, desserts, pancakes, other breakfast dishes, waffles, and others. Additionally, it is anticipated that throughout the course of the projection period, the consumption of chocolate-flavored syrups for various bakery, cold beverage, and confectionery goods will increase.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
B2B
Fastest Growth
B2B
Growth Rate
4% CAGR
Global Flavored Syrup Market 2022-2030 ($ Bn)
Country Share for Europe Region- 2022 (%)
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Flavored Syrup Market Segmental Analysis
Global Flavored Syrup Market is segmented based on Product, Distribution Channel and region. Based on Product the market is segmented into Fruit, Chocolate, Vanilla, Coffee, Others. Based on Distribution Channel the market is segmented into B2B and B2C. Based on region the global Flavored Syrup Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
In 2021, the fruit segment held the highest share with over 35.0%. The growing demand for flavored syrups with fruit infusions and unique flavors is one of the primary drivers of market expansion. Producers have also focused on developing mixed fruit syrups and offering unique flavors in order to preserve their place on the global market. Businesses are also developing syrups infused with fruit content in response to consumer demands for clean, natural, and organic products. For instance, some of the unusual flavors mixed with high-fruit ingredients include beetroot juice, apple, 100% natural sour cherries, and common sea buckthorn.
The chocolate market is expected to grow at the quickest rate, or 4.4%, between 2022 and 2030. Growing demand for chocolate syrup in the food and beverage industry is what is driving the market. This market is primarily driven by its use in baked goods like pastries, cakes, waffles, and pancakes as well as hot and cold beverages like milkshakes, smoothies, and hot and cold coffee. China and India, which are projected to be among the markets that makers of chocolate syrup will concentrate on, are developing countries that have a strong preference for chocolate-based products.
Analysis by Distribution Channel
In 2021, the B2B distribution channel sector had the highest share—more than 80.0%. The segment encompasses a number of different sectors, including beverages, frozen desserts, dairy products, and bakery & confectionery. Some of the common goods that contain flavored syrups as a taste and sweetness enhancer ingredient are beverages, especially cocktails, hot and cold beverages, and soft drinks. For instance, Starbucks employs a variety of naturally flavored syrups in its coffee, including caramel, hazelnut, and vanilla.
Global Flavored Syrup Market By Distribution Channel 2022 (%)
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Flavored Syrup Market Regional Insights
North America has surpassed Europe as the largest regional market in the world with a revenue share of over 30.0% in 2021 due to the widespread use of fruit syrups in the United States and Canada as well as the growing consumer demand for flavored syrups in everyday foods such as snacks, cereals, beverages, and desserts. The bakery business is anticipated to grow significantly as a result of the region's access to several premium toppings, chocolates, tastes, and fillings. As a result, flavoring syrup use is encouraged in the food and beverage business.
Asia Pacific is predicted to experience the greatest CAGR of 4.4% between 2022 and 2030. Bakery foods and beverages are widely consumed because of their low prices. As a result of consumers' inclination for eating sweet foods, companies have also produced unique things that are infused with varied flavor syrups like fruit and chocolate. Numerous foreign businesses have entered the Asian market and have been successful in expanding swiftly within this market sector.
Global Flavored Syrup Market By Geography, 2022-2030
- Largest
- Fastest
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Flavored Syrup Market Dynamics
Drivers
Increasing Demand for Flavored Beverages to Bolster Market Growth
- The demand for flavored beverages such as coffee, tea, and soft drinks has been increasing steadily, driving the growth of the flavored syrup market.
Restraints
Increasing Health Concerns to Hinder Market Growth
- The high sugar content of flavored syrups has been a major concern for consumers and health experts, leading to a decrease in demand for traditional syrups.
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Flavored Syrup Market Competitive Landscape
To appeal to consumers, both big and small firms are launching cutting-edge products and broadening their product lines. Starbucks, for instance, provides a selection of flavored syrups, including peach, toffee nuts, cinnamon dolce, and peppermint mocha. To appeal to the health-conscious market, businesses are concentrating on providing sugar-free syrups. Monin, for instance, sells sugar-free syrups in a range of fruit tastes, including raspberry, pomegranate, and peach. This company also provides various sugar-free syrups, including hazelnut, almond, and Irish cream.
Top Player’s Company Profiles
- The Hershey Company
- The Kraft Heinz Company
- Monin Inc.
- Torani Syrups, Inc.
- Nestle S.A.
- DaVinci Gourmet LLC
- Kerry Group plc
- Tate & Lyle PLC
- Sensient Technologies Corporation
- Archer Daniels Midland Company (ADM)
- Conagra Brands, Inc.
- PepsiCo Inc.
- Coca-Cola Company
- Pinnacle Foods Inc.
- The J.M. Smucker Company
- Royal FrieslandCampina N.V.
- Dr. Oetker GmbH
- Fontana Flavors Inc.
- Sweetbird Ltd.
- Ghirardelli Chocolate Company
Recent Developments
- In August 2022, In the US market, Singing Dog Vanilla introduced an organic vanilla syrup. The producer claims that the organic vanilla syrup will add a pure and complex flavor to tea, lattes, iced coffee, and other beverage products.
- In February 2022, Daysie introduced a collection of simple syrups, including a trio for coffee, salted caramel, coconut almond, and Madagascar vanilla.
Flavored Syrup Key Market Trends
- Growing demand for natural and organic flavors: Consumers are increasingly seeking natural and organic flavored syrups as they become more health-conscious and concerned about the use of artificial ingredients.
- Increasing popularity of premium and gourmet flavors: The demand for premium and gourmet flavored syrups is on the rise, as consumers seek more unique and sophisticated flavors for their beverages and desserts.
- Rising demand for sugar-free and reduced-sugar syrups: The growing concern over sugar consumption and its impact on health has led to an increase in demand for sugar-free and reduced-sugar flavored syrups.
- Expansion into new application areas: Flavored syrups are being used in a variety of new applications, such as smoothies, protein shakes, and iced teas, which is driving the growth of the market.
- Growing popularity of online sales channels: The rise of e-commerce and online sales channels is making it easier for consumers to access a wider range of flavored syrups from various brands and suppliers.
Flavored Syrup Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Flavored Syrup market is the increase in demand for personalized flavors in the food and beverage industry is responsible for the market's expansion. Growing consumer preference for convenience and ready-to-eat foods is another element influencing the market. The high sugar content of flavored syrups has been a major concern for consumers and health experts, leading to a decrease in demand for traditional syrups. The growing concern over sugar consumption and its impact on health has led to an increase in demand for sugar-free and reduced-sugar flavored syrups.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 51.2 billion |
| Market size value in 2031 | USD 70.2 billion |
| Growth Rate | 4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flavored Syrup Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flavored Syrup Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flavored Syrup Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flavored Syrup Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flavored Syrup Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flavored Syrup Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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