Flavored
Syrup Market Introduction
Global
syrup market is witnessing a significant demand generated by the food
and beverage industry. Consumers’ increasing preference for
different and personalized flavors in food has driven the syrup
manufacturers to produce a wide range of flavored syrups. Flavored
syrups contain artificial or natural flavorings mixed along with
sugar and water. Increasing demand of flavored syrups especially
among the consumers contributes to the growth of global syrup market.
Flavored syrup market witnesses a high market demand owing to dairy
and frozen product applications wherein flavored syrup serves as a
taste enhancer and a sweetener. Thus, the global flavored syrup
market is expected to grow during the forecast period owing to
consumers’ growing preference for artificial or natural taste
enhancer in convenience foods.
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Flavored
Syrup Market: Market Dynamics
Growing
demand for flavored syrups by the food and beverage industry is
expected to boost the global flavored syrup market. Flavored syrup’s
primary activities in food and beverage industry include the
production of soft drink concentrates, beverage syrups in different
flavors, an additive for frozen desserts topping for yogurt, flavored
powder for use in food and soft drinks. Flavored syrup serves as an
artificial sweetener along with a taste enhancer agent. Apart from
sweet flavored syrup, the savory flavored syrup is expanding its
applications beyond beverages. Savory flavored syrups are used in
salad dressing, meat recipes, preparation of confectionery and bakery
items. However, the demand for chocolate flavored syrup plays a major
role in the growth of the global flavored syrup market owing to the
consumers’ taste preferences for chocolate flavor in their foods.
Besides, the food and beverage industry being one of the drivers for
flavored syrup market, consumers’ preferences for different
flavored syrup in convenience foods are also expected to boost up the
global flavored syrup market growth. Pharmaceutical industry too
contributes to the growing demand for flavored syrup market owing to
its requirement of flavored syrup in medicines to make it flavorsome
and appetizing.
However,
the major restraint faced by global flavored syrup market is the
presence of high sugar content used as an artificial sweetener is a
major cause for health hazards such as high blood sugar, diabetes,
and stomach upsets. Domestically produced corn syrup proves to be a
major restraint for the flavored
syrup market to grow.
Flavored
Syrup Market: Market Segmentation
Flavored
syrup market can be segmented on the basis of different types of
flavors, which includes:
- Vanilla
- Strawberry
- Chocolate
- Coffee
- Mint
- Fruit
- Savory
- Others
On
the basis of application, flavored syrup market can be segmented
into:
Dairy
Products & Frozen Desserts
- Yoghurt
- Ice creams
- Fruit purees
- Custard
- Mousse
- Milk shakes
- Others
Confectionary
& Bakery Products
- Cupcakes
- Chocolates
- Candies
- Muffins
- Others
Beverages
- Cocktails
- Mock tails
- Juices
- Tea/Coffee
- Others
Food
- Pancake
- Salad
- Meat
- Waffles
- Others
Flavored
Syrup Market: Regional Outlook
Regional
coverage for flavored syrup market includes North America, Latin
America, Europe, Asia- Pacific and China (APAC) and the Middle East
and Africa (MEA). North America and Europe dominated the flavored
syrup market owing to the increased consumption of convenience foods
and dairy and frozen desserts. However, APAC region is expected to
dominate the flavored syrup market attributed to the large scale
consumption of dairy products, ice creams, and beverages. APAC offers
a potential opportunity for the flavored syrup market to grow during
the forecast period. China accounts for one of the leading countries
for flavored syrup market.
Flavored
Syrup Market: Market Players
The
key players in the flavored syrup market include The Hershey’s
Company , Kerry Group, Tate & Lyle, Monin Inc., Concord Foods,
Guangzhou Zhengliang and others.
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