Report Ocean presents a new report on flavor syrup market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.
The flavor syrup market is forecast to grow at a compound annual growth rate (CAGR) of more than 5% during the forecast period from 2021-2030.
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Simple syrup (heated sugar fully dissolved in water) is the most common basis for syrups flavored with natural or artificial flavors. In addition to carbonated water, flavored syrups add taste to coffee, pancakes, waffles, tea, cake, ice cream, or other foods. It is available in hundreds of flavors, including cherry peach, vanilla, hazelnut, coconut, almond, gingerbread, chocolate, peppermint, root beer, and even toasted marshmallow. Food, beverages, baking, and confectionery industries use these syrups.
Factors Impacting the Market
Increasing consumer preference for processed and convenience foods has led to an increase in demand for flavored syrups.
The rise in income levels of consumers and the surge in the food and beverage industry are factors driving the growth of the flavored syrup market.
Since consumers have less time in the morning, these syrups serve to flavor easy-to-make and ready-to-eat breakfast products. In addition to their use as breakfast toppings, these syrups also drive the demand for flavored syrups.
Increasing consumption of artificial sweeteners with high sugar content is causing health problems in the flavored syrup market, including cardiac disorders, high blood sugar, diabetes, and gastrointestinal disorders. In addition, obesity is on the rise as a result of excessive sugar consumption. In the baking and confectionery industries, syrups form a part of product preparation, which leads to children and the young population consuming these items, which is detrimental to their health and wellbeing. The factors listed above prevent the market for flavored syrups from growing.
Impact Analysis of COVID-19
It has been a pandemic with extraordinary unanticipated impacts on communities and the global economy. As a consequence of the outbreak of COVID-19, almost every industry has been affected. The flavoring syrup industry is no exception. Since the pandemic, sales of flavored syrup have decreased dramatically. The lockdown severely diminished people’s income, so they only bought basic necessities. Globally, this trend will likely continue until the pandemic ends.
In the forecast period, a healthy growth rate anticipates due to the recovery in the economies of most developing nations, pushing the flavored Syrups market towards its post-COVID levels.
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Regional Overview
North America accounted for the largest share due to consumers’ high demands for convenience and ready-to-eat foods. The food and beverage sector in the Asia Pacific will also see the highest growth rates due to the desire for new and advanced products. A rise in new products developed and launched in the food and beverage industry has also accelerated the pace of progress. In addition, better regulations in emerging economies such as China and India will also fuel the growth of the global flavored syrups market.
Leading Competitors
The leading competitors in the global flavored syrup market are:
Sensient Technologies Corporation (United States)
Kerry Group PLC (Europe)
Sensory Effects, Inc (United States)
Concord Foods, LLC (United States)
The Hershey Company (United States)
Monin (France)
Archer Daniels Midland Company (United States)
Starbucks Corporation (United States)
The J.M. Smucker Company (United States)
Mane SA (France)
Stirling Flavors, LLC (United States)
Malabar Food Products (United States)
W.T. Lynch Foods Limited (Canada)
Midwest Syrup Company (United States)
RIO Syrup Company, Inc. (United States)
Other Key Manufacturers
Scope of the Report
The global flavored syrup market segmentation focuses on Flavor, Taste Type, Application, and Region.
Segmentation based on Flavor
Fruit
Chocolate
Vanilla
Coffee
Herbs & Seasoning
Segmentation based on Taste Type
Sweet
Salty
Savory
Sour
Mint
Segmentation based on Application
Beverage
Dairy & Frozen Dessert
Confectionery
Bakery
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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