Overview and Scope
Flavored syrup is a simple syrup that is flavored either naturally or artificially with the essence of fruits or plants. It is made by combining sugar and water while heating it. The sole purpose of flavoring syrup is to give various alcoholic and non-alcoholic beverages color and flavor.
Sizing and Forecast
The flavored syrups market size has grown steadily in recent years. It will grow from $48.68 billion in 2023 to $50.9 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to growth in beverage industry, consumer demand for diverse flavors, increased adoption in foodservice industry, convenience in home cooking, growing awareness of global cuisines.
The flavored syrups market size is expected to see steady growth in the next few years. It will grow to $61.15 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to growing demand for low/no-sugar varieties, adoption of exotic and unusual flavors, rise in plant-based and natural sweeteners, culinary tourism influence, eco-friendly packaging solutions, focus on health and wellness.. Major trends in the forecast period include diversification of flavor profiles, e-commerce and direct-to-consumer sales, customization and personalization, collaborations with food and beverage brands, innovation in mixology..
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Segmentation & Regional Insights
The flavored syrups market covered in this report is segmented –
1) By Product Type: Natural, Synthetic
2) By Flavor Type: Fruit, Chocolate, Vanilla, Coffee, Herbs and Seasonings, Other Flavors
3) By Distribution Channel: Food Service, Food Retail
North America was the largest region in the flavored syrups market share In 2023. The regions covered in the flavored syrups market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing consumption of convenience food products are expected to drive the flavored syrups market. Convenience foods are prepared, ready-to-eat foods frequently seen on restaurant menus or grocery shops, including frozen foods and snacks. There has been an increase in the consumption of convenience food due to changing consumption patterns and living standards. Flavored syrups are used in various convenience food products, including waffles, coffee, pancakes, tea, cake, ice cream, and other foods to add needed flavors. For instance, according to the Institute of Food Technologists, a US-based scientific society of professionals engaged in food science and food technology, the US snack sales increased 5% in the first half of 2021 compared to the same period in 2020. Additionally, sales of frozen lunch products increased by 36.4% and those of frozen meals by 26% in 2021. Therefore, the growing demand for convenience food products is propelling the growth of the flavored syrups market.
Key Industry Players
Major companies operating in the flavored syrups market report are Monin Inc., Sensient Technologies Corporation, The Hershey Company, Tate & Lyle plc, Kerry Group plc, Fuerst Day Lawson Ltd., Toschi Vignola srl, R. Torre & Company Inc., Concord Foods LLC, Mitr Phol Group, KF Nutri Foods International Inc., Amoretti LLC, The J.M. Smucker Company, Wholesome Sweeteners Inc., Archer Daniels Midland Company, Britvic plc, Kraft Heinz Company, Sensoryeffects Flavor Systems LLC, Sonoma Syrup Co., Cedarvale Maple Syrup Co., Torani Inc., Panos Brands LLC, Skinny Mixes LLC, Nature’s Flavors Inc., Ghirardelli Chocolate Company, Wild Flavors Inc., Starbucks Coffee Company, Walden Farms Inc., H. Fox & Company, Jordan’s Skinny Mixes LLC, DaVinci Gourmet LLC
The flavored syrups market report table of contents includes:
1. Executive Summary
2. Flavored Syrups Market Characteristics
3. Flavored Syrups Market Trends And Strategies
4. Flavored Syrups Market – Macro Economic Scenario
5. Global Flavored Syrups Market Size and Growth
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26. South America Flavored Syrups Market
27. Brazil Flavored Syrups Market
28. Middle East Flavored Syrups Market
29. Africa Flavored Syrups Market
30. Flavored Syrups Market Competitive Landscape And Company Profiles
Top Major Players:
- Monin Inc
- Sensient Technologies Corporation
- The Hershey Company
- ate & Lyle PLC
- Kerry Group PLC
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