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.
Flavored
Syrups Market Analysis
Asia-Pacific constituted a dominant share of the flavored
syrups market in 2019 owing to the expanding foodservice industry, especially
in developing countries such as India, China, Indonesia, and Vietnam. The
growth of the organized retail sector in the region is further fueling the
growth of the market, with products being made easily available to consumers.
Manufacturers are also highly focused on expansion in Asia-Pacific. The market
in Europe is anticipated to register the second-largest CAGR during the review
period. The large presence of bars in Europe who purchase flavored syrups to
prepare alcoholic and non-alcoholic beverages to ensure consistency of taste
also drive the market growth. Moreover, the demand for blends of flavored
syrups is rising in the region due to the high demand for innovative flavor
combinations.
Segmental Analysis
Global Flavored Syrups Market has been segmented on the basis
of Type, Category, Distribution Channel, and Region.
By Type, the market has been divided into fruits, coffee,
chocolate, vanilla, mint, nuts, caramel, blends, others. The fruits segment is
further bifurcated into strawberry, blueberry, apple, orange, and others. The blends segment
accounted for the maximum market share in 2019 whereas, the mint segment
is expected to register the highest CAGR of 6.5% during the forecast period. Mint
syrup has various applications, including the preparation of alcoholic and
non-alcoholic beverages. It is used as a natural flavor in cocktails, coffee,
tea, cake, and in icings or fillings in desserts. Growing awareness of
the benefits of consuming mints, such as improvement in digestion, increased
appetite, and recovery from cold and flu, is driving the growth of the 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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