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

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.