Global Flavored Syrup Market Size to Grow by USD 58.8
WASHINGTON, June 03, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global…
WASHINGTON, June 03, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Flavored Syrup Market finds that increasing demand for various types of syrups from the food and beverage industry and the pharmaceutical industry, are some major parameters that are responsible for the growth of the Flavored Syrup Market in recent years. Additionally, changing taste and flavour preferences of the consumers, as well as increasing adoption of ready-to-eat food products is further propelling the market growth.
The total Global Flavored Syrup Market is estimated to reach USD 58.8 Billion by the year 2028 and is projected to grow exhibiting a compound annual growth rate (CAGR) of 3.2%, states Vantage Market Research, in a report, titled “Flavored Syrup Market Size, Share & Trends Analysis Report by Flavor (Fruit, Chocolate, Vanilla, Coffee), by Application (Beverages, Dairy & Frozen Desserts, Confectionery, Bakery), by Type (Sweet, Salty, Sour, Savory), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”. The Global Market revenue stood at USD 48.7 Billion in the year 2021.
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Increasing Demand for Flavoured Syrups from Food and Beverage Industry
For the last decade, the food and beverage industry has been witnessing a significant growth in the sale of food and beverages made for kids. Especially beverages made for kids. This can be majorly attributed to increasing spending power of customers and the availability of several types of flavoured beverages. Some of the majorly accepted beverage flavours are fruit, chocolate, vanilla, and coffee. Today, children mostly avoid drinking plain water to that extent, but around 20% of water need is accomplished by solid fruits and vegetables. Considering this in mind, various market players have introduced different products for children to remain hydrated, such as fruit flavoured water, fruit juices, and 100% fruit juices.
In addition to this, considering the increasing demand for flavoured syrups in the food and beverage industry, several major players engaged in the market are adopting the strategy of acquisition and merger. For instance, in February 2021, Monin Inc. announced the launch of its new strawberry rose flavoured syrup.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Flavored Syrup market is predicted to grow at a CAGR of roughly 3.2% during the forecast period.
- The Flavored Syrup market was estimated to be worth roughly USD 48.7 Billion in 2021 and is expected to reach USD 58.8 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Flavored Syrup market.
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Segmentation of the Global Flavored Syrup Market:
- Herbs & Seasonings
- Others (Nuts Floral and Confectionery)
- Dairy & Frozen Desserts
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Increasing demand for Flavoured Syrups from Pharmaceutical Industry
Nowadays, the demand for pharmaceutical products is increasing steeply, owing to increasing disease prevalence. In particular, the outbreak of COVID has propelled the prevalence among all generations. Drugs used in several dosage forms are bitter in taste along with an unacceptable smell. This decreases the acceptance of liquid dosage products among customers, especially among children. Thus, to increase the adoption, several flavouring agents are used. Hence, increasing demand for such products is increasing the demand for flavoured syrups, ultimately driving the market growth.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Flavored Syrup Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
North America Holds Maximum Market Share
North America accounted to have maximum growth for the Flavored Syrup Market in 2021. This surge is attributed to factors such as presence of major players in the region such as Sensient Technologies Corporation, and the Hershey Company among other players. However, Asia Pacific is anticipated to have fastest growth for the Flavored Syrup Market over the forecast period. This is owing to factors such as diverse food habits, increasing popularity of the varieties of flavours in food products, and rising disposable income.
List of Prominent Players in the Flavored Syrup Market:
- Sensient Technologies Corporation (U.S.)
- Monin Inc. (France)
- Kerry Group plc (Ireland)
- The Hershey Company (U.S)
- Tate & Lyle (U.K.)
- R. Torre & Company (U.S.)
- Fuerst Day Lawson (U.K.)
- Sensory Effects (U.S.)
- Concord Foods (U.S.)
- Nutri Food (U.S.)
- Mitr Phol Group (Thailand)
- Toschi Vignola (Italy)
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on “Flavored Syrup Market Size, Share & Trends Analysis Report by Flavor (Fruit, Chocolate, Vanilla, Coffee), by Application (Beverages, Dairy & Frozen Desserts, Confectionery, Bakery), by Type (Sweet, Salty, Sour, Savory), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)“ View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/flavored-syrup-market-621285
June, 2021: Torani the launched its new line of flavors including Puremade Mangonada Syrup, Puremade Chocolate Hazelnut Sauce, and Puremade Black Sugar Syrup.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Flavored Syrup Market?
- How will the Flavored Syrup Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Flavored Syrup Market?
- What is the Flavored Syrup market drivers and restrictions?
- What will be the CAGR and size of the Flavored Syrup Market throughout the forecast period?
This market titled “Flavored Syrup Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
|Market Size Provided for Years||2016-2028|
|Segments Covered|| • Flavor
• Herbs & Seasonings
• Others (Nuts Floral and Confectionery)
• Dairy & Frozen Desserts
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
|Region & Counties Covered|| • North America
• Rest Of Europe
• Asia Pacific
• South Korea
• South East Asia
• Rest Of Asia Pacific
• Latin America
• Rest Of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest Of Middle East & Africa
|Companies Covered|| • Sensient Technologies Corporation (U.S.)
• Monin Inc. (France)
• Kerry Group plc (Ireland)
• The Hershey Company (U.S)
• Tate & Lyle (U.K.)
• R. Torre & Company (U.S.)
• Fuerst Day Lawson (U.K.)
• Sensory Effects (U.S.)
• Concord Foods (U.S.)
• NutriFood (U.S.)
• MitrPhol Group (Thailand)
• Toschi Vignola (Italy)
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
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