Flavoured Syrups Market Research Report - Forecast to 2030

Flavoured Syrups Market Global Information by Product-Type (Natural, Synthetic), Flavour (Chocolate, Vanilla, Maple, Herbs & Spices, Coffee, Fruits and others), Application (Confectionary & Bakery Products, Dairy & Frozen Desserts, Beverages and others), Flavour-Type (Sweet, Savoury, Sour and others) and Region - Forecast to 2030

ID: MRFR/F-B & N/2940-HCR | 110 Pages | Published By Tejas Chaudhary on March 2023         

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Flavoured Syrups Market

Flavoured Syrups Market projected to grow at a CAGR of 5.1%, to reach USD 51.31 Billion by 2030.

By Product-Type Natural Synthetic
By Flavour Chocolate Vanilla Maple Herbs & Spices Coffee Fruits
By Application Confectionary & Bakery Products Dairy & Frozen Desserts Beverages
By Flavour-Type Sweet Savoury Sour
Key Players
Companies Profiled   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.)    Wild Flavors Inc. (U.S.)
Market Driving Forces   Increasing demand for health-conscious and healthier products    Growing consumer preference for flavors    Rising number of consumers in emerging economies
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Flavoured Syrups Market Overview

Flavoured Syrups Market size is projected to reach approximately USD 51.31 Billion by 2030, at a CAGR of 5.1% from 2022 to 2030. Flavored syrups are great for those who enjoy sweet and salty snacks. They are also an excellent option for people who like to make their ice cream or milkshakes. You can find many different flavors of syrups, ranging from minty to coffee-flavored, fruity, and more. These products are easy to find in grocery stores, drugstores, and specialty stores like Whole Foods.

Flavored syrups can be found in almost every type of beverage, from milkshakes to cocktails. In the United States, the Flavoured Syrups Market for flavored syrups is worth more than $1 billion. Flavored syrups are a growing trend in the food industry. This is because they help add flavor to the meal and bring in more money for businesses. The Flavoured Syrups Market is expected to grow at a CAGR of 5.1% during the forecast period.

COVID-19 Analysis

The study showed that the Flavoured Syrups Market is expected to grow at a CAGR of over 5.1% during the forecast period. Flavored syrups are mainly used in various beverages like coffee, tea, and cocktails. Flavors are important in personalizing the taste of drinks and making them tastier. The growth can also be attributed to the increasing demand for healthy beverages due to changing lifestyle choices among consumers. However, there is also an increase in awareness about more nutritional drinks among consumers. Health drinks found a place in almost every household during the COVID-19 pandemic. With the health drinks market rising, the Flavoured Syrups Market was in high demand as well.

Market Dynamics

Drivers: The drivers of this Flavoured Syrups Market are the ever-increasing demand for health-conscious and healthier products, changing lifestyle trends towards a more active and social lifestyle, changing consumer preferences, and increasing disposable income. Drivers for this market include growing consumer preference for flavors and a rising number of consumers in emerging economies such as India and China. In addition, companies are gradually shifting towards retailing these syrups to increase their availability across the globe.

Restraints: To grow as a business, manufacturers of confectionery products need to be more innovative and efficient with their product development process and marketing strategy. This is not easy with the changing environment in the UK and Europe – with consumers becoming more health-conscious and focused on natural ingredients – but it can be done if these companies have a strong R&D team to develop new flavor combinations that will satisfy consumers' needs.

Opportunities: Opportunities lie in the growing demand for fewer calories and sugar-free products along with changing consumer preferences towards fruit-flavored drinks and functional benefits of added ingredients like vitamins, minerals, antioxidants, etc. Furthermore, the increasing demand for dietetic products has boosted the demand for low-calorie drinks, which are expected to grow rapidly during this period.

Challenges: The variety of tastes is limited as only a few flavors dominate this space. Taste experience can be limited as some people might not enjoy the taste that much. There are limited distribution opportunities as many people might not be aware of these products or don't have access to retail outlets that sell these products.

Cumulative Growth Analysis: The global Flavoured Syrups Market is expected to grow at a CAGR of 5.1% in the next seven years. The main drivers are changing preferences due to rising health concerns, increasing disposable income, and changing lifestyles. Flavors also reflect this trend with products such as pomegranate flavors that are beneficial to brain function and refreshing taste for consumers who are always on the go.

Value Chain Analysis

The value chain for flavored syrups is a fully developed, highly competitive industry. Many players in the market are constantly trying to take over each other's share. The companies that produce flavored syrups have to be aware of the strengths and weaknesses of their competitors. They have to understand what their competitors don't and what they need that their competitors can provide. This includes knowing what the Flavoured Syrups Market opportunity looks like, who the target customers are, how much profit margin there is, etc.

Value Chain Analysis is one of the tools used by companies to understand customer needs better and make decisions accordingly. It helps them improve sales by better understanding customer demands and giving them an overall idea of how profitable different products can be.

Segment Overview

Technology: The usage of technology in the Flavoured Syrups market has been rapidly increasing over the years. More and more clients are now looking for a brand that offers a taste-tempting and safe way to enjoy their product. The use of technology in this market is largely dependent on the type of flavoring used. Most companies such as The Hershey Company, Tate & Lyle Plc, and Monin Inc. use technologies. In the years to come, flavored syrups will play a major role in the next generation of food and beverage products. Technology in this market is expected to grow significantly in the coming years owing to technological advancement in production techniques and ingredients.

Application Areas: Flavour syrups are used in desserts. They can be found in numerous recipes. This includes cakes, cookies, ice cream, and even coffee. The application of flavor syrups is not limited only by the imagination of the cook or chef. They are also produced in many varieties that create different flavors for different dishes and tastes. With so much variety available, these flavor syrups can provide a significant boost to your business's profits. Flavor syrups are now becoming one of the modern-day necessities for the food industry. They offer a huge advantage over conventional ingredients like salt or sugar, which can be caloric or preservative-laden.

Regional Analysis

Flavoured Syrups Market production has been growing steadily due to increasing demand from consumers and the increased popularity of flavored ice cream and other desserts made with them. This growth is expected to continue as this industry expands into regions such as North America and Asia-Pacific (APAC). Currently, Asia-Pacific contributes more than half of the total market share, followed by North America, Europe, Latin America, and finally the Middle East & Africa.

Competitive Landscape

The competition in this market is increasing by the day. The market is not only facing competition from major players but also newcomers. The segmentation of the Flavoured Syrups Market into sub-segments is very important to understand their performance. This can be done by grouping them based on the different types of flavors they produce, end uses, and geographical locations.

The market has seen steady growth due to increasing demand for gourmet burgers, desserts, and flavored coffees. However, the market is highly competitive with players like The Hershey Company (U.S.) and Kerry Group Plc. (Ireland), two key players in this sector globally. The global Flavoured Syrups Market may be lucrative, but it offers few opportunities for new players to enter. There are few barriers to entry in this sector, like the high cost of innovation and low entry barriers due to the availability of experienced players in the industry, making it difficult for new entrants to compete against incumbents.

The key players 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.)

  • Wild Flavors, Inc. (U.S.)

Recent Developments

Recently, the Flavoured Syrups Market has seen a significant boom, with more popular flavors being replaced by alternatives like bubblegum and taro. Vanilla is becoming less popular with its replacement coming in at number one with 32% of sales volume this year. This recent boom is due to an increase in global consumer awareness due to lifestyle changes that have taken place in recent years.

The Flavoured Syrups Market is an interesting topic to discuss to understand the future trends of this industry. The flavor syrup market has undergone a revolution in recent years regarding technology, production, and consumption. All these factors have led to the emergence of new trends and developments.

Report Overview

This is a market research report on the Flavoured Syrups Market. It provides an in-depth analysis of the global market size along with insights into various segments within it.

  • Historical Period: 2019-2020

  • Base Year: 2021

  • Forecast Period: 2022-2030


By Type:

  • Coffee

  • Chocolate

  • Vanilla

  • Fruits

  • Mint

  • Nuts

  • Blends

  • Others

By Category:

  • Conventional

  • Lactose-free

  • By Distribution Line

  • Food Service

  • Food Retail

  • Store-Based

  • Non-Food Based

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 51.31 Billion
  CAGR   5.1%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product-Type, Flavour, Application, Flavour-Type, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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.), Wild Flavors, Inc. (U.S.)
  Key Market Opportunities   Growing demand for fewer calories and sugar-free products, Increasing demand for dietetic products
  Key Market Drivers   Increasing demand for health-conscious and healthier products, Growing consumer preference for flavors, Rising number of consumers in emerging economies

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Frequently Asked Questions (FAQ) :

The study period of global flavor syrup market is 2022-2030.

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.), Wild Flavors, Inc. (U.S.) are the major companies operating in global flavor syrup market.

The global flavor syrup market is growing at a CAGR of 5.1% over the forecast period.

Asia Pacific is expected register the highest CAGR during 2022-2030.