Market Analysis 

Flavored Syrups Market Size was valued at USD 40.5 Billion in 2022. The flavored syrups market industry is projected to grow from USD 42.63 Billion in 2023 to USD 64.2429 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.26% during the forecast period (2023 - 2032). Flavored syrups are made by mixing artificial or natural flavoring agents with sucrose or sugar for making a concentrate. 

Numerous factors are adding to the global flavored syrups market share. Such factors, as revealed by the recent MRFR report, include growing demand for different flavors, demand for personalized flavors, rising preference for ready-to-eat products and convenience foods, its application as a sweetener and taste enhancer, rising working population, hectic lifestyles, and increase in per capita income. Additional factors adding market growth include expanding foodservice industry, availability of flavored syrups in powdered form for fast and flexible preparation in ready to eat foods, and rising dairy products consumption such as frappes, smoothies, yogurts, whipped cream, flavored milk, and milkshakes due to preference of consumers towards a healthy lifestyle. 

On the contrary, increasing health concerns may limit the global flavored syrups market growth over the forecast period. 

Market Segmentation 

The Market Research Future Report provides an inclusive segmental analysis of the global flavored syrups market based on distribution channel, category, and type. 

By type, the global flavored syrups market is segmented into blends, nuts, mint, fruits, vanilla, chocolate, coffee, and others. Of these, blends will lead the market over the forecast period as these are a convenient means of adding multiple flavors with a single syrup, resulting in their wide consumption in the foodservice industry. 

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By category, the global flavored syrups market is segmented into conventional and organic. Of these, the organic segment will dominate the market over the forecast period. 

By distribution channel, the global flavored syrups market is segmented into food retail and foodservice. Of these, foodservice will have a major share in the market over the forecast period for the rising trend of dining out and the expanding food service industry. 

Regional Analysis

By region, the global flavored syrups market analysis covers the growth opportunities and recent trends across Europe, North America, the Middle East & Africa (MEA), and the Rest of the World (RoW). Of these, the APAC region will dominate the market over the forecast period. Factors adding to the flavored syrups market growth in the region include the growing foodservice industry in Vietnam, Indonesia, China, and India, growing organized retail sector, expansion of customer base by manufacturers, mass consumption of bakery products, the willingness of consumers to consume sweet foods, and penetration of several foreign companies in the market. It is likely to grow at a 6.1% CAGR by 2025. 

The global flavored syrups market in North America is predicted to have favorable growth over the forecast period for increasing preference for flavored syrups in beverages, desserts, snacks, and cereals by consumers, and growing demand from the bakery industry for the wide availability of flavors, fillings, toppings, and chocolates. This is encouraging the usage of flavored syrups in the food & beverage industry. 

The global flavored syrups market in Europe is predicted to have healthy growth over the forecast period, and that in the RoW is predicted to have a steady growth. 

Key Players

Leading players profiled in the global flavored syrups market report include The J.M. Smucker Company (US), Wholesome Sweeteners Inc. (US), Conagra Brands, Inc. (US), VKL Seasoning Pvt. Ltd. (India), Nestlé S.A. (Switzerland), The Hershey Company (US), Kerry Group plc (Ireland), R. Torre & Co. (Torani) (US), Amoretti (US), and Monin, Inc. (France).

Industry News

December 2019: Starbucks has recently launched a new syrup flavor and a new drink- the Irish cream syrup and the Irish cream cold brew.

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