Asia Pacific Flavored Syrup Market to Grow at a CAGR of 5.0% to reach US$ 12,472.5 million from 2019 to 2027

The flavored syrup market in Asia Pacific was valued at US$ 8,046.6 Mn in 2018 and is projected to reach US$ 12,472.5 Mn by 2027; it is expected to grow at a CAGR of 5.0% from 2019 to 2027.

Rapid expansion in the food and beverage industry in developed and developing countries such as China, India, Australia, and Japan boost the flavored syrup demand in the Asia Pacific region.

Asia Pacific comprises of several countries such as the China, India, Australia, and Japan etc. The flavored syrup companies in this region are continuously enhancing the overall business processes and product portfolio to meet the rising demand from beverages, dairy & frozen desserts, confectionery, and bakery producers. Many domestic and international companies have a strong foothold in Asia Pacific. The China is one of the largest consumers of flavored syrup, followed by India, and Australia. The region mainly supports the growth of the flavored syrup market through effective food manufacturing sector and flexible trade policies. The steady growth of flavored syrup production in Asia Pacific is fuelled by constant demand from flavored syrup from retailers and an efficient supply chain. Growing consumers' preferences for flavored food and beverages have also been contributing to the steady demand for flavored syrup. These are the few factors driving the Asia Pacific flavored syrup market. Factors such as rapid urbanization, high purchasing power among the customers, and rising participation of women in the workforce and are driving the demand for convenience and easy to prepare food products. This factor has propelled the demand for flavored syrup products.

Fruit flavored syrups dominated the Asia Pacific market due to its widespread application in beverage products such as cocktails, soda and cold drinks, and soft drinks. Growing consumer preference for syrups with high fruit content has been a major factor driving the manufacturers to introduce wide varieties of syrups infused with natural ingredients.

Asia Pacific Flavored syrup Market

Market Insights   

Growing demand for flavored syrup from food beverages and pharmaceutical industries

The growth of the flavored syrup market is primarily attributed to the growing demand for customized flavors in the food and beverage industry. These syrups are also used by dairy products, bakery and confectionery products, and desserts and others, to enhance or modify the taste of the product. The syrups in powdered form are used for flexible and fast preparation in ready-to-eat (RTE) food products. The flavored syrup is highly demanded by the beverage industry as different varieties of syrups are added to produce unique beverages. Therefore, with the growth of the food and beverage industry, the demand for flavored syrups is expected to rise. The flavored syrups are extensively being used in packed fruit juices and fruit purees to improve nutrient content and enhance flavor. Moreover, these syrups are widely used in the preparation of beverage items such as coffee, tea, iced tea, flavored milk and other forms of beverages, these syrups are added along with the preservatives to improve the shelf life of these products. The growing popularity of western food trends are, further, boosting the market growth.

Apart from their use in the food and beverage industries, these syrups are also used in the pharmaceutical industry. They are added to medicines and syrups to make them palatable and augment their medicinal actions. These syrups helps to add taste and flavor to pharmaceutical medicines so as to make it consumable. Flavored syrups add pleasantly flavored substances to the medicinal syrups such as cherry syrup, acacia syrup, etc.

Flavor Insights

The Asia Pacific Flavored syrup market is segmented on the basis of fruit, chocolate, vanilla, herbs and seasonings, and others. Fruit flavoured syrups are used to garnish, tenderize or drizzle it on several food and beverage product such as desserts, pancakes or cereals. They also acts as a flavorsome additive to prepare in drinks and beverages. For instance, the apple flavored syrups are commonly used in breakfast with hot buttered toast and in mocktail preparations. This syrup is made by peeling apples, followed by cutting and boiling those to produce apple juice. The juice added with sugar or any sweetener of choice is then used as an apple syrup, which can be stored for a long time. The lemon syrup is a lemon-infused sugar syrup that adds sweetness and imparts lemon flavor to the desserts and cocktails. Chocolate syrups are regarded as a source of energy and are known to possess anti-aging, antioxidant, and stress suppressant characteristic features. The rising health awareness related to consumption of chocolate syrups along with a growing demand for chocolate syrups is driving the growth of the market.

Flavor Type Insights

The Asia Pacific Flavored syrup market is segmented on the basis of flavor type is segmented into sweet, salty and savory, sour, and mint. Different types of sweet-flavored syrups include sugar syrup, sugar-free sweetener syrups, honey-flavored syrup, maple-flavored syrup, and agave syrup. The simple sugar syrups are widely used in cappuccino, lemonade, iced tea, and coffee preparations. The sugar-free sweetener syrups are the choice of syrups for the health-conscious people looking forward to cutting down the calorie count as their sweetness is due to natural pulps of the fruits rather than regular white sugar. The honey-flavored syrup has a golden colored appearance and is prepared using water, sugar, pure cane sugar, and honey. The maple-flavored syrup is used to add a rich maple taste and a dark-colored texture to recipes while sweetening.

ASIA PACIFIC FLAVORED SYRUP MARKET SEGMENTATION

Flavored Syrup Market, by Flavour

• Fruit
• Chocolate
• Vanilla
• Herbs and Seasonings
• Others

Flavored Syrup Market, by Flavour Type

• Sweet
• Salty & Savory
• Sour
• Mint

Flavored Syrup Market, by Application

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

Asia Pacific Flavored Syrup Market – By Country

• Australia
• China
• Japan
• India
• South Korea
• Rest of APAC

Company Profiles

• Sensient Technologies Corporation
• Kraft Heinz Company
• Archer Daniels Midland Company
• Kerry Group
• Monin, Inc.
• Sunny Sky Products, Llc.
• The Hershey Company

Asia Pacific Flavored Syrup Report Scope