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Flavoured Syrups Market | Global Industry Competitors Strategy, Regional Analysis and Growth by Forecast to 2027

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Flavoured Syrups Market Forecast

Market Research Future’s Newly released flavored syrup industry analysis shows that global sales enjoyed year-on-year (YoY) growth of 2.9% in 2020, to total a valuation of US$ 50 Bn. Fruit flavored syrup marked growth of 4.5% to reach US$ 20.1 Mn, while vanilla flavored syrup was up 9.1% to close in on a valuation of US$ 7.3 Bn. Used extensively in a wide variety of F&B applications, flavored syrups presently can be found in almost every imaginable flavor. Consumer demand for flavored syrup has grown considerably due to innovative food and beverage trends which use novel flavors to their products. For instance, Starbucks often has innovative flavored drinks such as pumpkin spice and Irish cream that inspire consumers and result in demand for the same.

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Key Players

Prominent players in the market which use various leading market strategies and are included in MRFR’s competitive analysis are Kerry Group Plc., Sensient Technologies Corporation, Concord Foods Inc., Monin, Inc., Wild Flavors, Inc., The Hershey Company, and Tate & Lyle Plc.

Regional Analysis

North America accounts for the majority share of the global market due to the increased demand for flavor additives from the developed countries in the region. The presence of a massive and highly competitive F&B sector is expected to drive the demand for innovative flavored syrups. There is a high production volume of flavored syrups which is a key contributor to the region’s leadership position. Europe with its comparable growth pattern and high disposable income is another leader in the global Flavoured Syrups Market Industry. The biggest importers of flavored syrups include the U.S, the U.K, Germany, China, and Canada.

By flavor, the market is segmented into chocolate, vanilla, herbs & spices, coffee, fruits, maple, and others. Among these, the chocolate flavor segment dominates the market due to high consumer preference.

By application, the market is segmented into dairy & frozen desserts, beverages, confectionery & bakery products, and others. Bakery & confectionery account for the largest share due to the extensive use of Flavoured Syrups Market Industry outlook to achieve various flavored baked items. Meanwhile, the dairy & frozen desserts segment is expected to witness the highest growth rate.

By flavor type, the market is segmented into sweet, savory, sour, and others. Sale of sweet syrups is expected to drive the market significantly and accounts for the largest segment.

Market Segmentation

The global market for Flavoured Syrups Market Industry is segmented based on product type, flavor, application, flavor type, and region. By product type, the market is segmented into natural and synthetic syrups. Synthetically produced syrups account for the most significant share of the market due to the low cost of production associated with them combined with the easy availability of the same.

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