Overview and Scope
Flavoring syrups and concentrates are liquids that are made by dissolving sugar in water or by reducing naturally sweet juices.
Sizing and Forecast
The flavoring syrup and concentrate market size has grown strongly in recent years. It will grow from $57.46 billion in 2023 to $61.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rise in disposable income and rising preference for processed food products.
The flavoring syrup and concentrate market size is expected to see strong growth in the next few years. It will grow to $77.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to demand for ready to drink beverages and demographic shifts in emerging markets . Major trends in the forecast period include manufacturing products with organic ingredients, automation technology to improve production efficiency and profits, manufacturing sugar free products to increase consumer demand, manufacturing versatile and flavored food products, offering products infused with cbd and offering unique flavors products.
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Segmentation & Regional Insights
The flavoring syrup and concentrate market covered in this report is segmented –
1) By Type: Syrups, Molasses, Sweet Spreads, Jam, Jellies, Preservatives, Savory Spreads
2) By Flavors: Fruit, Chocolate, Vanilla, Coffee, Herbs & Seasonings, Other Flavours
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Food And Beverages Stores, E-Commerce, Other Distribution Channels
4) By Application: Individuals, Beverages, Dairy & Frozen Desserts, Confectionery, Bakery, Other Applications
Asia-Pacific was the largest region in the flavoring syrup and concentrate market in 2023. North America was the second-largest region in the flavoring syrup and concentrate market. The regions covered in the flavoring syrup and concentrate 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 growth of the flavouring syrup and concentrate manufacturing markets is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021, both according to the IMF. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market’s growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the flavoring syrup and concentrate manufacturing market during the forecast period.
Key Industry Players
Major companies operating in the flavoring syrup and concentrate market report are International Flavors & Fragrances Inc, Kerry Group plc, The Hershey Company, Golden State Foods, WILD Flavors and Specialty Ingredients (ADM), Monin, Inc., Sodastream USA, Concord Foods, LLC, R. Torre & Company, Inc., Small Hand Foods, Rasna Private Limited, Feroze Foods And Flavours, Xi’an FlavorSpring Biotech Co., Ltd., Ajinomoto Co., Inc., Givaudan, Shenzhen Tangzheng Biological Technology Co., Ltd., Doehler Natural Food & Beverage Ingredients (JINSHAN) CO. Ltd., Jinan JINHUAFANG Food Technology Co. Ltd., Fuerst Day Lawson, Tate & Lyle, Toschi Vignola, Cargill, Sensient Technologies, Archer Daniels Midland Company, Symrise, ASR Group, Arme, Fleurs et Fruits, Great Valley Juices, Kraft Heinz Company, Cedarvale Maple Syrup Co., Keurig Dr Pepper Inc., Refresco Group BV, Smucker’s, Sunny Sky Products, Amoretti, Hershey Company, Starbucks Coffee Company, WILD Flavors, PepsiCo, Frutarom Group, Florasynth, Trofina Food, Nettari, Fruit Fusion.
The flavoring syrup and concentrate market report table of contents includes:
1. Executive Summary
2. Flavoring Syrup And Concentrate Market Characteristics
3. Flavoring Syrup And Concentrate Product/Service Analysis -Product/Service Examples
4. Flavoring Syrup And Concentrate Market Trends And Strategies
5. Flavoring Syrup And Concentrate Market – Macro Economic Scenario
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68. Global Flavoring Syrup And Concentrate Market Competitive Benchmarking
69. Global Flavoring Syrup And Concentrate Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Flavoring Syrup And Concentrate Market
71. Flavoring Syrup And Concentrate Market Future Outlook and Potential Analysis
72. Appendix
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