Global Flavored Syrups Market By Type (Fruit, Chocolate, Vanilla, and Others), By Application (Bakery & Confectionery, Beverages, Dairy & Frozen Desserts, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Flavored Syrups Market Overview:

The global market for flavored syrups was worth USD 46.3 million in 2021 and is expected to grow at 5.5% between 2022-2032.

Global Flavored Syrups Market:

Type Analysis

2021 saw beverages account for 36.1% of total beverage sales. In 2021, beverages such as cocktails, hot and chilled drinks, and soft drinks were the most popular products to contain flavoring syrups. Starbucks has a wide variety of naturally flavored syrups, such as vanilla, caramel, and hazelnut.

The segment of bakery and confectionery is expected to grow at the fastest rate, 6.1%, over the forecast period.

Segment growth will be driven by rising consumer preferences for bread, pastries, cakes, pies, cookies, and crackers. The global market is expected to grow in the coming years due to the increased indulgence of consumers in APAC.

Application Analysis

35.9% was the highest share in 2021 for the fruit segment. Market growth is due to the high demand from consumers for fruit-infused flavor syrups. To retain their market position, manufacturers have been developing fruit syrups from combined fruits and creating new flavors.

Companies are now offering syrups that contain fruit, in response to consumer preferences. One example of the unique flavors is 100% natural sour cherry, beetroot juice, and common sea buckthorn. Poloskei Drink Kft offers fruit-flavored syrups. It creates unique syrups that combine basic flavors with blueberry-raspberry, acerola-raspberry, and other fruit syrups.

The CAGR in chocolate will be 6.3%, which is the fastest over the forecast period. It is becoming more popular in the food and drink industry. It is used in hot and cold drinks such as coffee, milkshakes, and hot and cold teas. Also, it is used in baking and confectionery products, such as waffles, cakes, pastries, and pancakes. India is expected as a major market for chocolate syrup manufacturers, The Hershey Company, in particular.

Key Market Segments:

Type

• Fruit
• Chocolate
• Vanilla
• Others

Application

• Bakery & Confectionery
• Beverages
• Dairy & Frozen Desserts
• Others

Market Dynamics:

This market growth is due to the increasing demand for flavors within the food, liquids, and beverage sector. Manufacturers are increasingly using flavored syrups as sweeteners and taste enhancers. The beverage category is the most popular, with a variety of liquid syrups available in various flavors.
Because of their widespread use in beverages like soda, cold drinks, soft drinks, and cocktails, fruit-flavored syrups are dominating the global market.

The increasing consumer preference for syrups high in fruit has prompted manufacturers to offer a wide range of syrup infused naturally. The two most loved fruit flavors are orange and raspberry. The willingness of consumers to try new and unusual fruit flavors is driving manufacturers to create duo-fruit syrups like Lime-Ginger or Raspberry-Mint that offer a combination of sweet, sour, and bitter tastes.

The companies also develop new flavors to satisfy the ever-changing tastes of their customers, which contributes to the growth of the global market. Agi fruit syrups introduce a new range of honey –Including products that contain unique flavors like elder-lime with honey, lemon balm with honey, or elder-lemon balm and honey.

Flavored syrups have high popularity in western countries, such as the U.S.A and Canada, Germany, the U.K., and France. These products are highly popular in western countries like the U.S., Canada, U.K., Germany, and France. This has contributed to the rise of the global market. These syrups are used as topping ingredients in pancakes and desserts, waffles (and other breakfast foods), ice cream, and other ready-to-eat products. In the coming years, the market is expected to be driven by the rising demand for chocolate-flavored syrups that can be used in cold drinks and other bakery and products.

Regional Analysis:

In 2021, North America accounted for 34.6% of the flavored syrups market. This is largely due to consumers’ preference to use flavored syrups in their daily meals, such as snacks, desserts, and cereals. Due to the abundance of quality ingredients, such as toppings, fillings, frostings, and flavors, the bakery industry will experience significant growth. This encourages the use of flavor syrups throughout the food- and beverage industry.

Asia Pacific will grow at the highest CAGR, 6.4%, between 2023-2032. Due to their low price, bakery products can be considered a product for mass consumption. In addition, sweet food lovers have encouraged manufacturers to develop innovative products that are flavored with syrups. Foreign companies have made rapid inroads into the Asian market. Hershey, for example, accounted in India for approximately 94% of all chocolate syrups sales in 2019.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis:

Because of the many players, the global market is very competitive. Many players have taken the initiative to improve their product offerings.

Starbucks offers many flavored syrups, including peppermint mocha and cinnamon dolce. Companies are also trying to offer sugar-free syrups to appeal to the health-conscious market. Monin offers sugar-free syrups that come in different fruit flavors like raspberry, pomegranate, peach, and pomegranate. Other sugar-free syrups that this company offers include Irish cream and almond.

Key Market Players:

• The Hershey Company
• Tate & Lyle
• Kerry Group
• Monin Inc.
• Torani
• Fuerst Day Lawson
• Starbucks Coffee Company
• Archer Daniels Midland Company
• Other Key Players

For the Flavored Syrups Market research study, the following years have been considered to estimate the market size: