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Global Flavored Syrups Market Report
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Global Flavored Syrups Market Report

Home Food And Beverages Global Flavored Syrups Market Report

Global Flavored Syrups Market, By Flavor (Fruit, Chocolate, Vanilla, Coffee, Herbs & Seasoning), By Taste (Sweet, Salty, Savory, Sour, Mint), By Application (Beverage, Dairy & Frozen Dessert, Confectionery, Bakery), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021-2027

  • Published Date: June 2021
  • Report ID: BWC20372
  • Available Format: PDF
  • Page: 141

Report Overview

Global Flavored Syrups Market Size - Industry Trends & Forecast Report 2027

The global flavored syrups market was worth USD 47.5 Billion in 2020 and is further projected to reach USD 65.9 Billion by 2027, at a CAGR of 4.9% during 2021-2027 (forecast period). The basic reasons contributing to the demand of flavored syrups market are rising demand for different flavors in food products and availability of product variety in the market. Also, the shifting preference of consumers towards convenience foods and ready-to-eat products is driving the flavored syrups market growth. The global flavored syrup market is expected to expand throughout the forecast period, owing to customers' increasing preference for artificial or natural flavor enhancers in convenience foods.

Source: BlueWeave Consulting

Global Flavored Syrups Market Overview:

Artificial and natural flavorings, which are combined with water and sugar, are called flavored syrups. The basic purpose of these flavored syrups is to increase the organoleptic characteristics of the product. These syrups not only increase the flavor of the product but add nutrients as well. These syrups are used in a variety of industries, including food, drinks, baking, and confectionary. Consumer demand for convenience meals, as well as the increasing use of flavored syrups in numerous industries, are the primary factors driving the need for flavored syrups market growth.

Global Flavored Syrups Market Forecast and Trends

Growth Drivers

Increasing consumer demand for convenience foods

The rising consumer preference towards processed and convenience foods is increasing the demand for flavored syrups market. Foods that require minimal or no processing and usually requires less time and energy in making called convenience foods. Flavored syrups are used to enhance the taste and flavor of convenience foods such as bread and confectionery products, desserts, and dairy products. The increase in the income levels of consumers and the growth of the food and beverages industry are the factors, which are boosting the flavored syrups market.

Increased applications in breakfast

Another key reason driving the growth of the flavored syrups market is the use of these syrups in breakfast items. The number of working women has increased globally; consequently, their daily lifestyle has become too hectic, leaving little time for making sophisticated morning meals. Consumers therefore, prefer these syrups to add flavors to easy-to-make and ready-to-eat breakfast products as they have less time in the morning. These syrups are being used as a topping in breakfast items, which is raising consumer demand and pushing the market for flavored syrups.

Restraints

High sugar content

The primary impediment to the growth of the flavored syrups market is the health problems caused by the increasing use of high sugar content artificial sweeteners which can cause cardiac disorders, high blood sugar, diabetes, and gastrointestinal disorders. Furthermore, there is a growing concern over rising obesity as a result of excessive sugar consumption. he use of syrups in the baking and confectionary industries leads to the consumption of these items by children and the young population, which is not good for their health and wellbeing. These are the factors that are impeding the growth of the global flavored syrups market.

Impact of COVID-19 in the industry

The COVID-19 pandemic has had extraordinary and unanticipated consequences for communities as well as the global economy. The outbreak of COVID-19 has affected almost every industry and the flavored syrups market is no exception. The global flavored syrups market has witnessed a huge decline in sales throughout the pandemic.  People were only buying essential food items because of the lockdown and the severe impact it had on their income. As a result, the demand for flavored syrups was much lower in March and April 2020. This trend is expected to continue till the pandemic continues to impact the world.

Global Flavored Syrups Market: By Flavor

Based on flavor type, the global flavored syrups market is categorized into Fruit, Chocolate, Vanilla, Coffee, and Herbs & Seasoning. Fruit flavored syrups segment held the largest market share in 2020 followed by the chocolate flavored syrups, segment which is expected to grow at the highest CAGR in the coming years. Fruit-flavored syrups are extensively using in bakery and confectionery products, including desserts, ice creams. Fruit syrups add a distinctive flavor to a variety of drinks and mocktails. Consumers prefer chocolate-flavored syrups after fruit syrup due to its use in a wide variety of food products, such as cold beverages, hot beverages, toppings on ice cream, waffles, and cakes.

Global Flavored Syrups Market: By Taste Type

Based on taste type, the global flavored syrups market is categorized into Sweet, Salty, Savory, Sour and Mint. The sweet form has accounted for the largest market share in 2020. This form is increasingly used in various desserts, shakes, bakery products, and ice creams. However, the savory form is also projected to increase at the highest CAGR during the forecast period as it is increasingly used in beverages. Also, savory flavor is increasingly being used in meat dishes, salad dressings, and in the preparation of cupcakes and pancakes in bakery items, among other applications that are not confined to beverages. Savory flavored syrups, such as spicy and herb, are increasingly being used in food applications, influencing demand in this market.

Global Flavored Syrups Market: By Application

Based on application, the global flavored syrups market is segmented into Beverage, Dairy & Frozen Dessert, Confectionery, and Bakery. The beverage segment accounted for the largest share in the market in 2020 and is still growing progressively. Syrups are mostly used in the preparation of cold beverages such as flavored sodas, mochas, and iced tea. These are also used for preparing customized cocktails and mocktails. The use of flavored syrups in hot beverages such as tea and coffee is becoming increasingly popular. This aids in giving flavor variants to consumers in order to satisfy their likes and preferences.

Global Flavored Syrups Market – Regional Insights

Based on region, the global flavored syrups market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.  Among these regions, North America accounted for the largest share in 2020 due to the high demand of consumers for convenience and ready-to-eat food. The Asia Pacific is also likely to witness the fastest growth rates due to the rising demand for new and advanced products in the food and beverage industry. The rate of progress is also influenced by the growing number of new products developed and launched in the food and beverage business. Additionally, improved government regulations in the food and beverage sector in emerging economies such as China and India will also drive the expansion of the global flavored syrups market.

Competitive Landscape

Key players in the global flavored syrups market are Sensient Technologies Corporation, Kerry Inc., Sensory Effects, Inc, Concord Foods, LLC, The Hershey Company, Monin, Archer Daniels Midland Company, Starbucks Corporation, The J.M. Smucker Company, Mane, Stirling Flavors, LLC, Malabar Food Products., W.T. Lynch Foods Limited, Midwest Syrup Company, RIO Syrup Company, Inc., and other key manufacturers. The key players in the flavored syrup market have been continually using the strategy of expansion as well as investment in research and development to increase their customer base, gain important market share worldwide, and promote their brand globally.

Recent Developments

  • In February 2021, Smucker’s announced the launch of a new cupcake-flavored “Unicorn Magic Shell” ice cream topping. This Magic Shell topping has a wonderful white cupcake flavor with lovely pink, blue, and purple speckles.

  • In February 2021, Monin, an award-winning premium flavoring company with more than 100 years of experience, introduced the 2021 Flavor of the Year: Strawberry Rose. Monin Strawberry Rose Syrup combines the queen of florals with ruby red strawberry to create a sophisticated bouquet of flavors.

Scope of Report:

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Flavor, By Taste Type, By Application, By Region

Key Players

Sensient Technologies Corporation, Kerry Inc., Sensory Effects, Inc, Concord Foods, LLC, The Hershey Company, Monin, Archer Daniels Midland Company, Starbucks Corporation, The J.M. Smucker Company, Mane, Stirling Flavors, LLC, Malabar Food Products, W.T. Lynch Foods Limited, Midwest Syrup Company, RIO Syrup Company, Inc. and other key manufacturers.

 

By Flavor

  • Fruit

  • Chocolate

  • Vanilla

  • Coffee

  • Herbs & Seasoning

By Taste Type

  • Sweet

  • Salty

  • Savory

  • Sour

  • Mint

By Application

  • Beverage

  • Dairy & Frozen Dessert

  • Confectionery

  • Bakery

By Region

  • North America

  • Latin America

  • Europe

  • Asia Pacific

  • Middle East

  • Africa

1. Research Framework

    1.1. Research Objective

    1.2. Product Overview

    1.3. Market Segmentation

2. Research Methodology

    2.1. Qualitative Research

            2.1.1. Primary & Secondary Research

2.2. Quantitative Research

2.3. Market Breakdown & Data Triangulation

           2.3.1. Secondary Research

           2.3.2. Primary Research

    2.4. Breakdown of Primary Research Respondents, By Region

    2.5. Assumption & Limitation

3. Executive Summary

4. Global Flavored Syrups Market Insights

    4.1. DROC Analysis

           4.1.1. Growth Drivers

           4.1.2. Restraints

           4.1.3. Opportunities

           4.1.4. Challenges

    4.2. Recent Development

    4.3. Porter’s Five Forces Analysis

            4.3.1. Bargaining Power of Suppliers

            4.3.2. Bargaining Power of Buyers

            4.3.3. Threat of New Entrants

            4.3.4. Threat of Substitutes

            4.3.5. Intensity of Rivalry

   4.4 Value Chain Analysis

   4.5 Key Strategic Developments

5. Global Flavored Syrups Market Overview

    5.1. Market Size & Forecast by Value, 2017-2027

            5.1.1. By Value (USD Million)

    5.2. Market Share & Forecast

            5.2.1. By Product Type

                 5.2.1.1. Skin Care

                5.2.1.2. Hair Care

                5.2.1.3. Other Product Types

           5.2.2. By Distribution Channel

                5.2.2.1. Specialty Stores

                5.2.2.2. Supermarkets/Hypermarkets

                5.2.2.3. Convenience Stores

                5.2.2.4. Online Retail

                5.2.2.5. Other Distribution Channels

           5.2.3. By Region

                5.2.3.1. North America

                5.2.3.2. Latin America

                5.2.3.3. Europe

                5.2.3.4. Asia Pacific

                5.2.3.5. Middle East

                5.2.3.6. Africa

6. North America Flavored Syrups Market

         6.1. Market Size & Forecast by Value, 2017-2027

              6.1.1. By Value (USD Million)

         6.2. Market Share & Forecast

              6.2.1. By Product Type

              6.2.2. By Distribution Channel

              6.2.3. By Country

                       6.2.3.1. United States

                       6.2.3.2. Canada

7. Europe Flavored Syrups Market

      7.1. Market Size & Forecast by Value, 2017-2027

            7.1.1. By Value (USD Million)

       7.2. Market Share & Forecast

            7.2.1. By Product Type

            7.2.2. By Distribution Channel

            7.2.3. By Country

                      7.2.3.1. Germany

                      7.2.3.2. Poland

                      7.2.3.3. Russia

                      7.2.3.4. Italy

                      7.2.3.5. France

                      7.2.3.6. United Kingdom

                      7.2.3.7. Spain

                      7.2.3.8. Rest of Europe

8. Asia Pacific Flavored Syrups Market

     8.1. Market Size & Forecast by Value, 2017-2027

             8.1.1. By Value (USD Million)

     8.2. Market Share & Forecast

            8.2.1. By Product Type

            8.2.2. By Distribution Channel

            8.2.3. By Country

                8.2.3.1. China

                8.2.3.2. India

                8.2.3.3. Japan

                8.2.3.4. Malaysia

                8.2.3.5. Singapore

                8.2.3.6. Rest of Asia Pacific

9. Latin America Flavored Syrups Market

   9.1.  Market Size & Forecast by Value, 2017-2027

             9.1.1. By Value (USD Million)

    9.2. Market Share & Forecast

             9.2.1. By Product Type

             9.2.2. By Sale Channel

             9.2.3. By Country

                 9.2.3.1. Brazil

                 9.2.3.2. Mexico

                 9.2.3.3. Rest of Latin America

10. Middle East & Africa Flavored Syrups Market

   10.1. Market Size & Forecast by Value, 2017-2027

         10.1.1. By Value (USD Million)

    10.2. Market Share & Forecast

         10.2.1. By Product Type

         10.2.2. By Distribution Channel

         10.2.3. By Country

             10.2.3.1. Saudi Arabia

             10.2.3.2. UAE

             10.2.3.3. South Africa

             10.2.3.4. Rest of Middle East & Africa

11. Competitive Landscape

     11.1. List of Key Players and Their Offerings

     11.2. Market/Ranking Share Analysis

     11.3. Competitive Benchmarking, By Operating Parameters

12. COVID-19 Impact

13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

    14.1. Sensient Technologies Corporation

    14.2. Kerry Inc.

    14.3. Sensory Effects, Inc.

    14.4. Concord Foods, LLC

    14.5. The Hershey Company

    14.6. Monin

    14.7. Archer Daniels Midland Company

    14.8. Starbucks Corporation

    14.9. The J.M. Smucker Company

    14.10. Mane

    14.11. Stirling Flavors, LLC

    14.12. Malabar Food Products

    14.13. W.T. Lynch Foods Limited

    14.14. Midwest Syrup Company

    14.15. RIO Syrup Company, Inc.

    14.16. Other Prominent Players

 

14. Key Strategic Recommendations

 

* Financial information of non-listed Companies will be provided as per availability

 

**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.

                  

 

 

 

 

 

 

 

List of Figures

 

Fig: Global Flavored Syrups Market Segmentation

 

Fig: Global Flavored Syrups Market Value Chain Analysis,

 

Fig: Company Market Share Analysis, 2020

 

Fig: Global Flavored Syrups Market Size, By Value (USD Million), 2017-2027

 

Fig: Global Flavored Syrups Market Share (%), By Flavor, By Value, 2017-2027

 

Fig: Global Flavored Syrups Market Share (%), By Taste, By Value, 2017-2027

 

Fig: Global Flavored Syrups Market Share (%), By Country, By Value, 2017-2027

 

Fig: North America Flavored Syrups Market Size, By Value (USD Million), 2017-2027

 

Fig: North America Flavored Syrups Market Share (%), By Flavor, By Value, 2017-2027

 

Fig: North America Flavored Syrups Market Share (%), By Taste, By Value, 2017-2027

 

Fig: North America Flavored Syrups Market Share (%), By Application, By Value, 2017-2027

 

Fig: North America Flavored Syrups Market Share (%), By Country, By Value, 2017-2027

 

Fig: Europe Flavored Syrups Market Size, By Value (USD Million), 2017-2027

 

Fig: Europe Flavored Syrups Market Share (%), By Flavor, By Value, 2017-2027

 

Fig: Europe Flavored Syrups Market Share (%), By Taste, By Value, 2017-2027

 

Fig: Europe Flavored Syrups Market Share (%), By Application, By Value, 2017-2027

 

Fig: Europe Flavored Syrups Market Share (%), By Country, By Value, 2017-2027

 

Fig: Asia-Pacific, Flavored Syrups Market Size, By Value (USD Million), 2017-2027

 

Fig: Asia-Pacific, Flavored Syrups Market Share (%), By Flavor, By Value, 2017-2027

 

Fig: Asia-Pacific, Flavored Syrups Market Share (%), By Taste, By Value, 2017-2027

 

Fig: Asia-Pacific, Flavored Syrups Market Share (%), By Application, By Value, 2017-2027

 

Fig: Asia-Pacific, Flavored Syrups Market Share (%), By Country, By Value,      2017-2027

 

Fig: Latin America Flavored Syrups Market Size, By Value (USD Million), 2017-2027

 

Fig: Latin America Flavored Syrups Market Share (%), By Flavor, By Value, 2017-2027

 

Fig: Latin America Flavored Syrups Market Share (%), By Taste, By Value, 2017-2027

 

Fig: Latin America Flavored Syrups Market Share (%), By Application, By Value, 2017-2027

 

Fig: Latin America Flavored Syrups Market Share (%), By Country, By Value, 2017-2027

 

Fig: Middle East & Africa Flavored Syrups Market Size, By Value (USD Million), 2017-2027

 

Fig: Middle East & Africa Flavored Syrups Market Share (%), By Flavor, By Value, 2017-2027

 

Fig: Middle East & Africa Flavored Syrups Market Share (%), By Taste, By Value, 2017-2027

 

Fig: Middle East & Africa Flavored Syrups Market Share (%), By Application, By Value, 2017-2027

 

Fig: Middle East & Africa Flavored Syrups Market Share (%), By Country, By Value, 2017-2027

 

 

List of Tables

 

 

Table: Global Flavored Syrups Market Size, By Flavor, By Value (USD Million), 2017-2027

 

Table: Global Flavored Syrups Market Size, By Taste, By Value (USD Million), 2017-2027

 

Table: Global Flavored Syrups Market Size, By Application, By Value (USD Million), 2017-2027

 

Table: Global Flavored Syrups Market Size, By Region, By Value (USD Million), 2017-2027

 

Table: North America Flavored Syrups Market Size, By Flavor, By Value (USD Million), 2017-2027

 

Table: North America Flavored Syrups Market Size, By Taste, By Value (USD Million), 2017-2027

 

Table: North America Flavored Syrups Market Size, By Application, By Value (USD Million), 2017-2027

 

 

Table: North America Flavored Syrups Market Size, By Country, By Value (USD Million), 2017-2027

 

Table: Europe Flavored Syrups Market Size, By Flavor, By Value (USD Million), 2017-2027

 

Table: Europe Flavored Syrups Market Size, By Taste, By Value (USD Million), 2017-2027

 

Table: Europe Flavored Syrups Market Size, By Application, By Value (USD Million), 2017-2027

 

Table: Europe Flavored Syrups Market Size, By Country, By Value (USD Million), 2017-2027

 

Table: The Asia-Pacific Flavored Syrups Market Size, By Flavor, By Value (USD Million), 2017-2027

 

Table: The Asia-Pacific Flavored Syrups Market Size, By Taste, By Value (USD Million), 2017-2027

 

Table: The Asia-Pacific Flavored Syrups Market Size, By Application, By Value (USD Million), 2017-2027

 

Table: The Asia-Pacific Flavored Syrups Market Size, By Country, By Value (USD Million), 2017-2027

 

Table: Latin America Flavored Syrups Market Size, By Flavor, By Value (USD Million), 2017-2027

 

Table: Latin America Flavored Syrups Market Size, By Taste, By Value (USD Million), 2017-2027

 

Table: Latin America Flavored Syrups Market Size, By Application, By Value (USD Million), 2017-2027

 

 

Table: Latin America Flavored Syrups Market Size, By Country, By Value (USD Million), 2017-2027

 

Table: The Middle-East & Africa Flavored Syrups Market Size, By Flavor, By Value (USD Million), 2017-2027

 

Table: The Middle-East & Africa Flavored Syrups Market Size, By Taste, By Value (USD Million), 2017-2027

 

Table: The Middle-East & Africa Flavored Syrups Market Size, By Application, By Value (USD Million), 2017-2027

 

 

Table: The Middle-East & Africa Flavored Syrups Market Size, By Country, By Value (USD Million), 2017-2027

 

 

 

 

 

 

 

Table: Sensient Technologies Corporation Financial Analysis

Table: Sensient Technologies Corporation Business Overview

     Table: Kerry Inc, Financial Analysis

     Table: Kerry Inc, Business Overview

Table: Sensory Effects, Inc Financial Analysis

Table: Sensory Effects, Inc Business Overview

Table: Concord Foods, LLC Financial Analysis

Table: Concord Foods, LLC Business Overview

Table: The Hershey Company, Financial Analysis

Table: The Hershey Company, Business Overview

Table: Monin Financial Analysis

Table: Monin Business Overview

Table: Archer Daniels Midland Company Financial Analysis

Table: Archer Daniels Midland Company Business Overview

Table: Starbucks Corporation Financial Analysis

Table: Starbucks Corporation Business Overview

Table: The J.M. Smucker Company Financial Analysis

Table: The J.M. Smucker Company Business Overview

Table: Mane Financial Analysis

Table: Mane Business Overview

Table: Stirling Flavors Financial Analysis

Table: Stirling Flavors LLC Business Overview

Table: Malabar Food Products Financial Analysis

Table: Malabar Food Products Business Overview

Table: W.T. Lynch Foods Limited Financial Analysis

Table: W.T. Lynch Foods Limited Business Overview

Table: Midwest Syrup Company Financial Analysis

Table: Midwest Syrup Company Business Overview

Table: RIO Syrup Company, Inc. Financial Analysis

Table: RIO Syrup Company, Inc. Business Overview

 

 

 

 

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Global flavored syrups market has reached USD 47.5 Billion in 2020.
Ans: Rising demand for varied flavors in food products, as well as the availability of product variety in the market, are the primary factors driving the growth of the flavored syrups market. Furthermore, the rising customer preference for convenience foods and ready-to-eat goods is driving the growth of the flavored syrups market.
Ans: The key players in the global flavored syrups market are Sensient Technologies Corporation, Kerry Inc., Sensory Effects, Inc, Concord Foods, LLC, The Hershey Company, Monin, Archer Daniels Midland Company, Starbucks Corporation, The J.M. Smucker Company, Mane, Stirling Flavors, LLC, Malabar Food Products., W.T. Lynch Foods Limited, Midwest Syrup Company, RIO Syrup Company, Inc., and other key manufacturers.
Ans: Fruits flavor accounted for the largest share in the global flavored syrups market.
Ans: Beverages segment is growing at a higher rate in the global flavored syrups market.