Market Definition
Flavored syrups are prepared with the help of natural or artificial flavoring agent mixed with sugar to obtain a concentrate. They are manufactured in various flavors and are available throughout the globe. Diverse application of these concentrates across various industries as a potential flavor enhancer has made them popular across the regions. These syrups based on their flavors are used with coffee, frozen desserts, pancakes, waffles, and others to increase their organoleptic properties. Growth in food and beverage industry is fueling the growth of flavoured syrups market. The flavored syrups are now widely used in packed fruit juices, concentrates, and fruit purees based on its property to add nutrients as well as to enhance the flavor. Economy development and increasing disposable income is supporting the growth of flavoured syrups in the global market.
Market Scenario
A shift in the global food consumption pattern has spurred the market for flavoured syrups owning to its varied application in food and beverages. Improvement in the economic conditions and consumers’ increasing awareness through product promotions is also playing a significant role in the growth of this market. High demand for bakery and confectionery food products along with healthy beverages is supporting the growth of the flavored syrups in the global market. Increasing focus of Manufacturers’ on product innovations is also adding value to various flavoured syrups produced globally. Technological strides has supported in fueling up the market share of flavoured syrups in the global market.
Key players have more inclination towards the production of organically flavoured syrups to suffice the growing demand from consumers for natural food additives. This has further led to increased sale of the product. Increasing working women population and rising tread of consumption of ready to eat convenience food has also increased the sale of flavoured syrups on a global level.
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Key Findings
- Application of flavoured syrups in dairy and frozen desserts will growing at a higher rate during the forecast period owing to rising consumers demand for frozen desserts
- Top exporters of flavoured syrups include the U.S., Germany, the Netherlands, the U.K. and France
Segments
- Flavoured syrups has been segmented on the basis of product-type, which comprises natural, synthetic. The synthetically flavored syrups is found to hold a major share owning to low production cost and easy availability.
- Flavoured syrups has been segmented on the basis of flavor, which include chocolate, vanilla, maple, herbs & spices, coffee, fruits, and others. Among these segments, chocolate flavored syrup dominates the market followed by vanilla.
- Flavoured syrups has been segmented on the basis of application, which comprises of confectionary & bakery products, dairy & frozen desserts, beverages, and others. Application of flavoured syrups in confectionary & bakery products holds a major share based on the high demand for bakery and confectionery products throughout the globe.
- Flavoured syrups has been segmented on the basis of flavour-type, which comprises sweet, savoury, sour, others. Sale of sweet flavoured syrups is evaluated to be dominating the market based on high industrial demand for sweetened food products.
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Regional Analysis
The global flavoured syrups market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). North America accounts for the major market share followed by Europe. High demand for food additives and flavors from the countries of these regions is influencing the high production volume of flavoured syrups. Owing to economic developments and changing food consumption pattern, flavored syrups market is projected to generate high revenue during the given forecast period.
Furthermore, urbanization and increasing disposable income will support the sale of flavoured syrups across the regions during the same period. The Major importers of flavoured syrups include the U.S., the U.K., Germany, China, and Canada.
Key Players
Some of the key players profiled in the global flavoured syrups market are The Hershey Company (U.S.), Kerry Group Plc. (Ireland), Sensient Technologies Corporation (U.S.), Tate & Lyle plc. (U.K.), Monin, Inc. (U.S.), Concord Foods Inc. (U.S.), and Wild Flavors, Inc. (U.S.)
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