Global Flavored Syrups Market is projected to be valued at USD
58,065.3 Million by 2026, expanding at a CAGR of 5.7% during the forecast
period. Flavored syrups can be used or mixed with a variety of beverages such
as carbonated water, coffee, cocktails, tea, as well as pancakes, waffles,
cake, ice cream, and other foods. They are prepared using natural or artificial
flavoring agents mixed with sugar or sucrose to obtain a concentrate. Growth of
the foodservice industry and increasing consumption of convenience food
products are the major factors driving the market growth. The growth of the
organized retail sector in Asia-Pacific is further boosting the market growth.
Rising consumer preference for natural and organic products and continuous demand
for new flavors are expected to create new opportunities for the vendors active
in the global market. However, rising health concerns due to sugar-based syrups
are restricting the growth of the market.
Based on Category, the global flavored syrups market has been
classified as organic and conventional. The conventional segment accounted for
a dominant share of the market in 2019 in terms of value. Conventional is
the most widely available form of flavored syrups in the market. The
conventional segment consists of flavored syrups with ingredients that are
cultivated with the help of chemical fertilizers.
Based on distribution channel, the global flavored syrups
market has been classified as foodservice and food retail. Foodservice is
further bifurcated as HoReCa, bars & pubs, bakery, and others. The food
retail segment is further divided into store-based and non-store-based. The foodservice
segment accounted for a dominant share of the market in 2019 in terms of value.
Flavored syrups are increasingly used in the foodservice industry to enhance
the flavors of cocktails, mocktails, coffees, baked products, and dairy
products. Rising disposable incomes and rapid urbanization are driving the
growth of the foodservice industry, with an increasing number of consumers
opting to dine out. Moreover, the rising number of restaurants and cafés
chains, especially in developing countries, is expected to boost the sales of
flavored syrups in the foodservice segment.
Regional Analysis
Geographically, the Global Flavored Syrups Market
has been categorized as North America, Europe, Asia-Pacific, and the Rest of
the World. As per MRFR analysis, Asia-Pacific dominated the market, accounting
for the largest share in 2019. The Asia-Pacific flavored syrups market is
projected to register a CAGR of 6.0% during the forecast period.
Key Players
Market Research Future recognizes Monin, Inc. (France),
Amoretti (US), R. Torre & Co. (Torani) (US), The Hershey Company (Ireland),
Kerry Group plc (US), Nestlé S.A. (Switzerland), VKL Seasoning Pvt. Ltd
(India), Conagra Brands, Inc. (US), and The J.M. Smucker Company (US) as
the Key Players in the Global Flavored Syrups Market.
Complete Report Details @ https://www.marketresearchfuture.com/reports/flavored-syrups-market-8613
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