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Flavored Syrup Industry analysis research and trends
report for 2017-2024: Global Market Insights Inc.
Flavored Syrup Market size may grow significantly over the projected period owing to
strong application outlook in beverages, bakery, dairy & frozen desserts and
Global syrups market may witness a significant growth of 4% over the forecasted
timeframe. Flavored syrup is organic in nature and widely used for sweetening and
enhancing taste mainly in bars, cold drinks, and cocktails. They are available in wide
range of low calorie formulations thereby increasing demand among health-conscious
consumer. Shifting preferences towards variety of personalized flavors in food
products may drive flavored syrup market size.
Rise in processed and convenience food demand owing to easy availability through
efficient distribution channels accompanied with increasing working demographics
may favor industry growth. Global packaged food market may exceed to USD 3.05
trillion in sales by 2024, with gains at 4.5%. Availability of syrups in powder form for
flexible and fast preparation in RTE food products is likely contribute towards flavored
syrup market size.
Growing dairy products consumption including milkshakes, flavored milk, whipped
cream, yogurts, smoothies and frappes owing to consumer preference towards leading
healthy lifestyle may influence flavored syrup market growth. Global dairy & frozen
desserts market is estimated reach USD 25 billion by 2024, with gains at over 8%.
They are used for topping that provides discrete tastes to food products. Singapore,
China, Australia and New Zealand consume large scale of dairy products, ice cream
and soft drinks, making Asia Pacific a huge market for flavored syrup.
Global confectionery market size was valued at over USD 180 billion in 2015, and is
likely to reach USD 235 billion by 2024, foreseeing a 4% growth during the forecasted
period. Confectionery market includes varieties of food products such as raw pastes,
chocolates and various sugar-based products. The market is increasing at a steady
pace due to growing demand from middle-class consumers. Consumers with busy
schedule are often inclined to confectionary product owing to good taste and less
consumption time is likely to drive confectionery market thereby stimulating flavored
Chocolate flavored syrup accounts for high market share and may witness strong
gains over the forecasted time frame. It has wide applications in diverse food products
including dairy drinks, desserts, hot & cold beverages and desserts. Increase in
demand from coffee shops and cafes mainly in India, China and Brazil should propel
Flavored syrup contains large amount of sugar additives. Sugar is considered as the
key element responsible for occurrence of diabetes and obesity. Credit Suisse Equity
Research found that over 85% of medical expert connect obesity with high intake of
sugar which is likely to limit industry growth.
Cocoa and sugar are the primary raw materials used in confectionery production.
Volatile raw material prices due to political instability, pests & diseases and extreme
weather may affect flavored syrup market price trend. Growing demand and less
production have impacted the sugar prices.
Global meat and meat products may show significant gains up to 2024. U.S. meat
market accounted over USD 7.5 billion revenue in 2016. Savory flavored syrups are
used in meat recipes, salad dressings, and in pancakes and cupcakes preparations in
bakery items. Increase in consumption meat & meat products owing to decreasing
cultural barriers supported by consumer inclination towards better diet should boost
Asia Pacific led by India, Japan South Korea and China flavored syrup market grow
significantly. Rise in number of coffee shops and restaurants due to increasing
economic standards has led to growing chocolate syrup demand thereby, stimulating
regional industry growth.
North America flavored syrup market driven by U.S. may show strong gains.
Increasing bakery and dairy products demand for daily consumption along with rising
chocolate intake may fuel product demand in this region. Presence of various
companies providing custom made flavors choices is another contributing factor
towards regional growth.
Global flavored syrup market share is highly concentrated with prominent players such
as Monin Inc., Sensient Technologies, The Hershey Company, Tate & Lyle, Kerry
Group, Fuerst Day Lawson, Toschi Vignola, R. Torre & Company, Concord Foods,
Sensory Effects, NutriFood, and Mitr Phol Group.
Companies are engaged in developing sugar free syrups for health-conscious
consumer to cut down extra sugar intake may positively influence industry growth.
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