Flavored Syrup Market Size, Share, Trends, Forecast to 2027

The flavored syrup market was valued at US$ 42,306.1 million in 2018 and is expected to grow at a CAGR of 4.9% from 2019 to 2027 to reach US$ 64,960.7 million by 2027.

The flavored syrup is produced with natural or artificial flavoring ingredients mixed with sugar to obtain a concentrate. The flavored syrup is used in a variety of food and beverages such as coffee, frozen desserts, pancakes, waffles, and others to increase their organoleptic properties. Growing consumer demand for convenience foods coupled with rising application of flavored syrup in the food beverages and pharmaceutical industries are the prominent factors boosting the flavored syrup market growth. However, health risk associated with the presence of high sugar content in the flavored syrup is projected to hamper the market growth over the forecast period. Moreover, the significant shift of the consumers towards sugar-free products and the availability of a variety of sugar-free flavored syrup provides a lucrative growth opportunity for the key players operating in the market. North America accounted for the largest share of the global flavored syrup market.

The growth of the market in this region is primarily attributed to the growing demand from the fast-food chains and restaurants in countries such as the US, Canada, and Mexico. Additionally, the demand for convenience and ready to eat food products is increasing in the region due to the busy lifestyle and a higher standard of living and purchasing power among the consumers. Rising consumption of bakery and dairy products is further propelling the demand for the global flavored syrup market. Further, manufacturers such as Amoretti, Archer Daniels Midland Company, ASR Group, and Monin, Inc. have established a strong presence in the region and are aiming to capture better market share.  

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Flavored Syrup Market: Strategic Insights

Flavored Syrup Market

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  CAGR (2018 - 2027)

  4.9%
• Market Size 2018
  US$ 42.31 Billion
• Market Size 2027
  US$ 64.96 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Archer Daniels Midland Company
• ASR Group
• Cedarvale Maple Syrup Co
• Kerry Group
• Kraft Heinz Company
• Monin Inc
• Sensient Technologies Corporation
• Small Hand Foods
• Sunny Sky Products Llc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Flavor

• Fruit
• Chocolate
• Vanilla
• Herbs and Seasonings

Flavor Type

• Sweet
• Salty & Savory
• Sour
• Mint

Application

• Beverages
• Dairy & Frozen Desserts
• Confectionery
• Bakery

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Market Insights

Growing Consumer Demand for Convenience Foods is leading to Rising Demand for Flavored Syrup

Syrups are defined as the dense blend of water and sugar, which adds sweetness and taste to foods such as fruit, chocolate, coffee, and vanilla flavored, among others. The demand for flavored syrups is increasing due to growing consumer preference towards processed or convenience foods. Convenience foods are those foods that require minimal or no processing and are used to minimize the time and energy needed for preparing food. Flavored syrups are toppings and ingredients added to convenience food items such as bakery and confectionery products, dairy products, ready-to-eat foods, frozen desserts, and on-the-go beverages so as to improve its taste and flavor. With the growth of the food and beverage industry and the rise in income levels, consumers are inclining more toward convenience foods. These factors are boosting the flavored syrup market.

Flavor Insights

The flavored syrup market is segmented on the basis of flavor fruit, chocolate, vanilla, herbs and seasonings, and others. The global flavored syrup market based on flavor was led by the fruit segment and held the largest market share. Fruit syrups, also known as a fruit juice concentrates, are available for almost all fruits on the market and has had rising demand for the fruit-flavored syrups in the global region. The fruit flavored syrups are heat extracted juices and used not only as flavoring agents but also as sweeteners in simple syrup preparations.

Flavor Type Insights

The global flavored syrup market based on flavor was led by the fruit segment and held the largest market share. Fruit syrups, also known as fruit juice concentrates, are available for almost all fruits on the market and has had rising demand for the fruit-flavored syrups in the global region. The fruit flavored syrups are heat extracted juices and used not only as flavoring agents but also as sweeteners in simple syrup preparations.

Application Insights

The global flavored syrup market based on application has been segmented into beverages, dairy & frozen desserts, confectionery, bakery, and others. The beverage applications segment held the largest share in the global flavored syrup market in 2018. The growth of the beverages segment is mainly attributed to the growing demand for various beverages such as packed fruit juices, concentrates, fruit purees, milkshakes, flavored milk, cocktails, soda and cold drinks, and hot beverages such as tea and coffee. Moreover, growing health concerns among the people along with the increasing consumer awareness through effective product promotion strategy are another two other factors bolstering the growth of the market.

Product launch and marketing of new products through media, campaigns, and advertisements are commonly adopted by companies to expand their footprint worldwide, which is further impacting the size of the market. The players present in the flavored syrup market adopt the strategy of expansion and investment in research and development to enlarge the customer base and to gain significant market share across the world, which also permits the players to maintain their brand name globally.

Flavored Syrup Market Report Scope

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Global Flavored Syrup Market – By Flavor

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

Global Flavored Syrup Market – By Flavor Type

• Sweet
• Salty & Savory
• Sour
• Mint  

Global Flavored Syrup Market – By Application 

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

Company Profiles

• Sensient Technologies Corporation
• Kraft Heinz Company
• Cedarvale Maple Syrup Co
• Archer Daniels Midland Company
• ASR Group
• Kerry Group
• Monin, Inc
• Small Hand Foods
• Sunny Sky Products, Llc
• The Hershey Company