Flavoured Syrups Market Insights
Market Research Future’s newest report on the global The Flavoured Syrups Market size is estimated to reach $52.9 Billion by 2025, growing at a CAGR of 4.12% during the forecast period 2020-2025. The Syrups are defined as the dense blend of water and sugar, which adds sweetness and taste to foods such as fruit, chocolate, coffee, and vanilla flavored, among others. Increasing popularity of the varieties of flavors in food products and rising disposable income are some of the factors driving market growth during the forecast period 2020-2025.
Available both naturally and artificially flavored, these syrups are in high demand due to their concentrated flavor and flexibility of use. They can be added to bakery products, beverages, frozen desserts, and others. Used extensively to make flavored lattes, cakes, and as toppings for waffles and pancakes, the demand for popular flavors and classic flavors has grown exponentially due to growing demand for the above-mentioned food items. A rapidly growing population with rising disposable incomes has resulted in increased demand for trendy food items. Flavored syrups are also used in cocktails, packed juices and along with novel home carbonation machines so that consumers can create their own sodas. Product promotions and increasing innovations in flavors are expected to offer opportunities for growth. Moreover, the demand for healthier syrups sweetened with sugar alternatives, and containing fewer artificial ingredients will likely impact the market positively in the coming years.
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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.
The global market for flavored syrups market Size 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.
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 flavored syrups market Size 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.
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 flavored syrups market Size. The biggest importers of flavored syrups include the U.S, the U.K, Germany, China, and Canada.
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