Flavored Syrups Market Size & Growth Analysis to 2030

The global flavored syrups market size is anticipated to register a significant CAGR of 5% during the forecast period 2021 to 2027 and estimated to reach around USD 65 billion by 2027. The rising demand for personalized flavors and increasing consumer preference toward convenience food are some major factors to drive the market growth. The consumer shift towards sugar-free products and the availability of various types of sugar-free flavor syrup is anticipated to witness significant growth in the market. However, the risk associated with the presence of high sugar content in flavor syrups is projected to restrain the market over the forecast period.

The increasing consumer preference towards various flavored syrups is expected to provide new opportunities in the market. The manufacturers are focusing to develop innovative flavors due to the increasing consumer demand is further expected to fuel the global market growth. For example, a new range of products with uniquely flavored honey was introduced by Agi syrup.

Market Drivers:

Increasing Demand for Variety in Beverages: Consumers today are seeking a wide range of flavor options and unique taste experiences in their beverages. Flavored syrups offer a convenient way to enhance the flavor profile of beverages such as coffee, tea, cocktails, sodas, and milkshakes. The demand for flavored syrups is driven by the desire for diverse and customizable beverage options.

Growth of the Specialty Coffee and Tea Industry: The specialty coffee and tea industry has been experiencing significant growth in recent years. Flavored syrups are commonly used in coffeehouses, cafes, and specialty beverage shops to create signature drinks and add unique flavors to coffee and tea-based beverages. The expansion of this industry is fueling the demand for flavored syrups.

Rising Popularity of Craft Cocktails: Craft cocktails have gained popularity worldwide, with mixologists and bartenders constantly experimenting with flavors and ingredients to create unique and innovative drinks. Flavored syrups play a crucial role in adding complexity and depth to cocktails, enabling mixologists to craft enticing flavor combinations. The growing trend of craft cocktails is driving the demand for flavored syrups in the beverage industry.

Increasing Consumer Interest in Natural and Artisanal Products: There is a growing preference among consumers for natural and artisanal food and beverage products. Flavored syrups that are made with natural ingredients, free from artificial additives, and sourced sustainably appeal to this consumer segment. The demand for natural and artisanal flavored syrups is driven by the desire for healthier and high-quality beverage options.

Growth of the Foodservice Industry: The foodservice industry, including restaurants, cafes, hotels, and catering services, is expanding globally. Flavored syrups are widely used in the foodservice sector to enhance the flavor of various dishes, desserts, and beverages. The increasing number of foodservice establishments and their demand for flavoring ingredients are contributing to the growth of the flavored syrups market.

Consumer Preference for Customization and Personalization: Consumers today are seeking personalized and customizable food and beverage experiences. Flavored syrups allow individuals to customize their drinks according to their taste preferences by adding specific flavors and sweetness levels. This desire for customization and personalization is driving the demand for flavored syrups as a versatile ingredient.

Convenience and Versatility: Flavored syrups offer convenience and versatility in beverage preparation. They are easy to use, mix, and store, making them popular among consumers and foodservice professionals. Flavored syrups can be used in a wide range of applications, including hot and cold beverages, desserts, baked goods, and more, making them a versatile choice for flavor enhancement.

Market Attributes:

Market Insights:

The global flavored syrups market is bifurcated into type, application, and geography. On the basis of type, the market is further segmented into fruit, chocolate, vanilla, and others. The fruit segment dominated the market in 2020 and accounted to hold the largest revenue share over one-third of the market. The segment growth is attributed to the increasing consumer preference towards fruit-infused flavored syrups coupled with the unique tests. Furthermore, the increasing investment by the manufacturers to develop innovative flavors combined with fruit syrups has contributed to the segment growth.

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By application, the flavored syrups market is divided into bakery & confectionery, beverages, dairy & frozen desserts, and others. The beverage segment holds the largest revenue share of the market and valued at over one-third percent of the market in 2020. The increasing use of flavored syrups in various beverages such as cocktails, soft drinks, hot & cold beverages has contributed to the segment growth around the world. on the other hand, the bakery and confectionery segment is accounted to grow at the fastest CAGR over the forecast period due to the increasing consumer preference towards bakery products.

The flavored syrups comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2020 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The flavored syrups market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Fruit
• Chocolate
• Vanilla
• Others

By Application:

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

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the flavored syrups market report comprises dedicated sections centering on the regional market revenue and trends. The flavored syrups market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The flavored syrups market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Flavored syrups market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Market Competition Assessment:

Key players operating in the global flavored syrups market are Hershey Company, Kerry Group, Tate & Lyle, Monin Inc., and Fuerst Day Lawson. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Hershey Company
• Kerry Group
• Tate & Lyle
• Monin Inc.
• Fuerst Day Lawson
• Torani
• Archer Daniels Midland Company
• Starbucks Coffee Company
• Smucker’s
• Walden Farms
• Fox Syrups

Key Questions Answered by Flavored Syrups Market Report:

• Global flavored syrups market forecasts from 2021-2027
• Regional flavored syrups market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Flavored syrups submarket forecasts from 2021-2027 covering the market by type, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to flavored syrups market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level flavored syrups markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the flavored syrups market