Global Flavored Syrup Market: Popularity of Chocolate Flavored Syrup to Increase, says TMR

Transparency Market Research (TMR) in its latest report, answers key questions with regards to the future growth prospects and scope of the flavored syrups market. The report is titled “Flavored Syrup Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” This market research report gives a thorough study of the flavored syrups industry, including the growth drivers, boosting the industry and challenging factors, restricting the growth of the industry. The key trends prevailing in the flavored syrups industry are identified and information as to how manufacturers are expected to re-align their strategies to adapt to the changing consumer demands. Manufacturers are striving for innovation to attract more customers. The report identifies key opportunities in the market and segments the market on the basis of key criteria. The leading, declining, and fastest growing segments are pointed out along with the reasons behind the state of the segment.

The increasing consumer preference for personalized flavors is compelling manufacturers to develop wide range of flavored syrups, and thus the flavored syrups market is growing. Of the two types of flavors in market, natural and artificial flavor, the demand for natural flavor is increasing. The use of flavored syrup in dairy and frozen product markets is creating a heightened demand for syrups. Flavored syrups are also in demand for applications where the flavor of the syrup acts as a sweetener and taste enhancer. The thriving convenience foods market is also one of the key factors boosting the demand for flavored syrups. This is because there is an increasing demand for flavored syrups as taste enhancer in convenience foods.

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Savory flavored syrups are being used in yogurts, salad dressings, confectionary and bakery items, and meat recipes. One of the trends in the market, that has been seen of late, is the increasing demand for chocolate flavored syrup. In addition to flavored syrups being used across the food and beverage industries, they are also being used in the pharmaceutical industry so as to make medicines flavorsome and appetizing. All these factors are expected to ensure a continued growth of the flavored syrup market across the globe. However, one of the biggest challenges faced by the market is the presence of high sugar content. Many health hazards such as diabetes, stomach upsets, and high blood sugar are caused by flavored syrup, used as artificial sweetener. In addition to this, the domestically made corn syrup is another key restraint challenging the market.

The global key players in the flavored syrup market include Kerry Group, The Hershey’s Company, Tate & Lyle, Concord Foods, Monin Inc., and Guangzhou Zhengliang.

Consumers increasing preference for Different & Personalized Flavors in Food has Driven the Syrup Manufacturers to Produce a Wide Range of Flavored Syrups

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.