Analysis of Flavored Syrup Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Expanding at a CAGR of 5%, the global flavored syrup market is predicted to increase from a valuation of US$ 52 billion in 2023 to US$ 85 billion by 2033-end.
Demand for fruit-flavored syrups is predicted to rise at the fastest CAGR through 2033. Consumption of fruit-infused flavored drinks has been constantly rising. Consumer perception of 'natural' associated with fruit flavors is the key reason for its high market share.
In recent years, there has been a considerable increase in consumer interest in cooking. Several TV channels as well as social media streaming channels designated to cooking have led to a surge in consumer interest in cooking innovative dishes at home.
This has triggered demand for several ingredients at household levels, which are mostly purchased by food & beverage processors and hotels, and restaurant businesses. Flavored syrup is among such food ingredients that have garnered traction from household consumers.
Besides, the fact that homemade cuisines can be entirely customized to suit the needs of people who are allergic to certain ingredients, or want a specific nutrient balance, is further encouraging them to cook cuisines at home. This is consequently driving demand for flavored syrups.
A constant surge in urbanization in developing countries has drastically transformed the consumption pattern of people. Owing to this, more numbers of international cuisines are being observed to feature on different occasions as a part of celebrations or weekend hangouts. All these transformations have imparted a positive impact on the entire supply chain. The flavored syrup has also garnered significant attention from restaurants and hotels in developing countries.
Flavored syrups are prepared by thoroughly mixing water and sugar while heating them. These tastes may contain natural or synthetic ingredients, also referred to as synthesized flavorings. Some sellers of flavored syrups also substitute sugar. The growing diversity of tastes in food products is anticipated to enhance the sales growth of the global market.
Due to customers' growing preference for flavored beverages, the market potential for flavoring syrups has lately expanded. Syrups with flavors such as chocolate, caramel, fruit, vanilla, coffee, and malt have become more common as flavor enhancers.
The market is experiencing an increase in the use of flavored syrups as toppings, particularly for breakfast foods. The need for unique flavored syrups is growing as a result of the unexpectedly growing consumer demand for sweeteners to accompany breakfast meals. Additionally, a select few companies have been introducing the concept of naturally flavored syrups since natural foods have become increasingly popular and are enticing health-conscious consumers.
Flavored syrups are natural supplements that help sweeten and enhance the flavor of food products in iced drinks, mixed drinks, and many other beverages. Customers can select from a wide variety of low-calorie syrups without risking their health. The massive availability of a wide range of customized tastes further supports market demand. The increased demand for natural and organic goods will give businesses appealing chances.
Millennials are amongst the most experimental customers when it comes to trying new cuisines. Furthermore, with their high purchasing power, millennials are also open to spending more on just regular cuisines. While they purchase flavored syrup for making household cuisines, they also spend heavily on their restaurant bills where flavored syrup is used.
Rising desire for frozen bakery products and ready-to-eat foods among consumers who lead busy lives as well as the rise in consumer demand for a wider variety of food flavors all have a positive impact on market expansion.
Flavored Syrup Market Size (2023)
US$ 52 Billion
Projected Market Value (2033)
US$ 85 Billion
Global Market Growth Rate (2023-2033)
Market Share of Fruit Flavored Syrups
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“Increasing Consumer Preference for Convenience Food Products”
Demand for processed foods is increasing because they are more convenient and easily accessible through effective distribution methods and because the working population is expanding, which supports industry growth.
The market size of the flavored syrup will probably be influenced by the availability of powdered syrups in RTE food products for adaptable and simple preparation. Due to consumer preference for adopting a healthy lifestyle, there may be an increase in the consumption of dairy products.
“Availability of Substitutes and High Levels of Sugar in Artificial Sweeteners”
The greatest challenge facing the global market for flavored syrups is the excessive sugar content used as an artificial sweetener, which is a major factor that poses health hazards.
Consumer preference shifts toward alternatives such as organic maple syrup are anticipated to restrain industry expansion.
“Aspiring Market Players Should Introduce New Flavors to Meet Consumers' Shifting Taste Preferences”
New entrants are creating and introducing new flavors to meet consumers' constantly shifting taste preferences, which is helping the global market expansion.
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“Growing Usage of Flavored Syrups in Everyday Meals in North America”
North America holds 40% market share of the global market due to the widespread use of fruit syrups and growing customer preference for flavored syrups in everyday meals such as snacks, cereals, beverages, and desserts.
Owing to the abundance of high-quality toppings, chocolates, tastes, and fillings in this area, the bakery business is predicted to experience tremendous expansion. Thus, the food and beverage industry is being encouraged to employ flavored syrups.
“Presence of Successful Brands That Offer Specialty Syrups”
People in the U.S. consume a significant volume of coffee, pancakes, waffles, cake, ice cream, and flavored milk that uses flavored syrup. Increasing consumption of these products is expected to boost demand for flavored syrup in the country.
In addition, the industry will benefit from the large number of successful brands that offer extensive lines of specialty syrups.
“Availability of Products at Low Prices in South Korea”
The market in South Korea is expected to grow greatly as a result of the availability of products at low prices, which has helped it become very popular among consumers with middle-class incomes as well.
Key producers have introduced novel items infused with diverse taste syrups such as fruit and chocolate as a result of consumers' propensity for eating sweet foods.
“Rise in Number of Cafes & Coffee Shops across Germany”
Increasing popularity of chocolate-flavored syrup, a rise in the number of cafes and coffee shops, and the presence of top vendors of flavored syrups are driving market growth in Germany. The market will benefit from improving economic conditions as well as rising customer interest in trying new recipes.
“Growing Consumption of Bakery Products & Beverages in Japan”
The market in Japan is projected to expand rapidly during the forecast period. With the surge in urbanization, the dietary habits of consumers have also been changing. Their consumption of bakery products and beverages such as coffee and milkshake has increased significantly. This has led to a considerable spurt in the demand for related ingredients, including flavored syrup.
Rising popularity of eating out and the soaring interest in discovering other cultures both serve to further fuel market growth.
“Fruit Flavored Syrups Gaining Traction Owing to Their High Usage in Alcoholic & Non-alcoholic Beverages”
Based on flavor, the market is segmented into fruit, chocolate, vanilla, and others. At present, fruit flavored syrups account for 40% share of the global market due to their widespread use in alcoholic beverages including cocktails, soda, other cold drinks, and soft drinks.
To maintain their position in the international market, producers have also been concentrating on creating mixed fruit syrups and introducing novel flavors. Companies are also creating syrups infused with fruit content in response to consumer preferences for pure, natural, and organic products.
For instance, some of the distinctive flavors blended with high-fruit ingredients include beetroot juice, apple, 100% natural sour cherries, and common sea buckthorn.
“Surging Demand for Custom Flavors in Beverage Industry”
The market is classified into beverages, dairy & frozen desserts, bakery and confectionery, and others based on the application.
One of the key reasons propelling the market for flavored syrups is the rise in demand for custom flavors in the beverage sector. The availability of customized flavor options, product variety, and broad use of the product in beverage goods such as cocktails, carbonated and cold beverages, and soft drinks all contribute to the increased sales of flavored syrups.
The market potential has increased recently due to consumer preference for flavored beverages. As flavor enhancers, syrups with the flavors of chocolate, caramel, vanilla, fruit, malt, and coffee have grown in popularity.
Sales of beverages designed for children have increased significantly during the past ten years in the beverage industry. This is mostly due to two factors: consumers' rising purchasing power and the accessibility of many flavors of flavored beverages. To a large extent, children today avoid drinking simple water, although about 20% of their water needs are met by solid fruits and vegetables.
Top flavored syrup producers are diversifying their product offerings, increasing their global footprint, and meeting the needs of diverse customer segments in various regions.
Key companies in the flavored syrup market are investing in cutting-edge technologies to generate bigger sales over the coming years and maintain their competitive edge in the market. The introduction of new tastes in the syrup industry will aid firms in searching for better prospects for expansion and securing a commanding position in the market.
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Worldwide consumption of flavored syrups is predicted to increase at a CAGR of 5% through 2033.
Kerry Group, Tate & Lyle, and Monin Inc. are key suppliers of flavored syrups.
Increasing variety of flavors in food products and growing popularity of syrups in the production of drinks are driving market growth.
Global demand for flavored syrups is slated to reach US$ 85 billion by 2033.
Fruit flavored syrups are estimated to account for more than 40% share of the global market.
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