Chocolate Syrup Market Size, Share, and Industry Analysis by Type (Organic and Conventional), Analysis by Distribution Channel (B2B and B2C [Supermarket/Hypermarket, Convenience Stores, Online Stores, Others]), and Regional Forecast, 2024-2032

The global chocolate syrup market is a delightful segment of the food industry, experiencing steady growth and a positive outlook for the future. The demand for chocolate syrup has been growing as it is used as a flavor enhancer and toppings in several sweet dishes such as cakes, pastries, ice cream, doughnuts, and others. Manufacturers have been incorporating chocolate syrups in various dishes and responding with exciting new offerings. For instance, in February 2024, Krispy Kreme, an American multinational doughnut company and coffeehouse chain, collaborated with an American multinational confectionery company and launched Hershey’s Black & White Chocolate Chip doughnut. The new product is drizzled with Hershey’s chocolate syrup and mini chocolate chips on top.

Consumers are drawn toward premium chocolate syrups made with high cocoa content and natural ingredients, offering a richer and more decadent taste. Sugar-free options are also gaining traction owing to a growing health-conscious consumer base. Manufacturers are responding to this trend with innovative product launches. For instance, in August 2021, Enlightened, a dessert brand, launched a sugar-free chocolate syrup.

The COVID-19 pandemic positively impacted the sales of chocolate syrup due to an upsurge in baking activities at home. Moreover, prominent players such as Hersheys recorded a sharp rise in the sale of their syrups, cocoa powder, and bread spreads amid the pandemic, further fueling the market growth.

Key Insights

The report covers the following key insights:

• Overview of the Chocolate Syrup Market


• Market Dynamics


• Drivers, Restraints, and Opportunities


• Impact of COVID-19 on the Global Chocolate Syrup Market


• Key Developments

Segmentation

Analysis by Type

The conventional segment is expected to hold a major share of the global market. Conventional syrups are generally more affordable compared to organic or specialty ones. This makes them accessible to a wide range of consumers, especially budget-conscious consumers. Manufacturers often create exciting variations such as caramel, hazelnut, or even fruit-infused chocolate flavors within the conventional segment catering to diverse taste preferences.

The organic segment is expected to grow significantly over the forecast period. A growing number of consumers are prioritizing health and wellness, seeking out organic and natural food products. Similar trends have been observed in chocolate syrup as consumers are looking for options perceived as healthier or containing fewer artificial ingredients. Moreover, organic chocolate syrups are often positioned as premium products using higher-quality ingredients and potentially contain more natural sugars or sugar alternatives, catering to consumers willing to pay extra for what they perceive as a healthier choice.

Analysis by Distribution Channel

The B2C segment is expected to hold a major share of the global market. Chocolate syrup is a popular household ingredient used for various desserts such as ice cream, pancakes, milkshakes, and others. The frequent usage in everyday use drives consistent demand for the product in the B2C segment. Chocolate syrup is a readily available and easy-to-use topping perfectly aligned with the convenience trends in today’s fast-paced world. The supermarkets/hypermarkets dominate the B2C segment as they offer a wide variety of chocolate syrups catering to diverse taste preferences.

The B2B segment is expected to grow considerably over the forecast period. The growth in the bakery and pastry business and the rise in popularity of cafes and restaurants would propel the growth of the segment.

Analysis by Region

Asia Pacific is expected to hold a major share of the global chocolate syrup market. The region is experiencing significant economic growth, leading to a rise in disposable income. This allows consumers to spend more on discretionary products such as chocolate syrup, indulging in treats, and experimenting with new flavors. Rapid urbanization in the region is leading to busier lifestyles and a rising demand for convenient foods. Chocolate syrup aligns with this trend, offering an easy way to elevate desserts and further fuel the market growth in the region.

North America is expected to grow significantly over the forecast period. Chocolate syrup is a popular dessert topping in North America, and it is used in various dishes. This cultural preference has driven the high consumption rates in the region. The fast-paced lifestyle and preference for convenience in North America align well with the ease of use of chocolate syrup as a topping. Moreover, established players such as Hershey’s and Kraft Heinz have a strong foothold in the region, contributing significantly to the market’s dominance. There has been a growing demand for organic and natural products owing to growing health concerns among consumers. Therefore, manufacturers are also focusing on promoting their products to increase product sales. For instance, in September 2021, RxSugar, a U.S.-based company, won a 2021 Editors’ Pick award for its Organic Chocolate Syrup. The product is made from organic ingredients and is a plant-based syrup with zero net carbs, zero blood sugar, and zero calories.

Key Market Players

The report provides the profiles of key players such as The Hershey's Company, Nestlé S.A., The J.M. Smucker Company, The Kroger Co., Torani, Bosco, Hollander Chocolate, Inc., Walder Farms, Gold's Pure Foods, LLC., and Amoretti.

Key Developments

• In July 2021, Dabur India Ltd., one of India’s leading science-based Ayurveda companies, entered the syrups and spreads category with the launch of Dabur Honey Tasties. The new product is a honey-infused syrup and is available in chocolate and strawberry flavors.