Flavored Syrups Market Size, Share, and Industry Analysis, By Flavor (Fruit, Chocolate, Coffee, Vanilla, and Others), By End-Use (Beverages, Baked Foods, Confectioneries, and Frozen Desserts) and Regional Forecast, 2024-2032

The global flavored syrups market consists of several flavors, such as fruit, chocolate, vanilla, and coffee, among others, used in several products, such as baked foods, confectionaries, frozen desserts, and beverages, to improve their taste and texture. Thus, the demand for flavored syrups is high across several global food and beverage manufacturers owing to the extensive end-use of these syrups.

The driving factor of the global flavored syrups market is the extensive demand for syrups in packaged food products that provide convenience to consumers, such as a ready-to-eat product range across industries. The syrup formulation is highly flexible, a significant trait that makes it a preferred taste enhancer in various food and beverage products. Furthermore, the wide range of flavors is another factor that tends to cater to the extensively changing consumer preference and thus contribute toward market growth. The rise in convenient food consumption with increasingly busier and single lifestyles among individuals in countries, such as Japan, China, and others will further fuel global market growth.

However, the increasing prevalence of diseases, such as diabetes and obesity among the younger generation shall restrain the global flavored syrups market growth. In addition, the growing awareness of the side effects of higher sugar intake shall further negatively impact global consumption. Thus, manufacturers are looking for sugar alternatives to cater to changing consumer preferences.

The pandemic significantly impacted the global supply chain with trade restrictions, the closing of borders, and the shutting down of food service outlets, resulting in a considerable decline in global demand for syrups. However, with increasing home cooking trends and individuals stuck at home, the demand for syrups in retail did show a spike. However, with the disruption of the global supply chain with limited trade and production, the supply chain gap started to increase, resulting in a rise in product prices.

Key Insights

The report covers the following key insights:

• Overview of Parent/Related Market


• Supply Chain Analysis


• Industry SWOT Analysis


• Key Industry Developments (Product launches, Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Flavored Syrups Market

Segmentation

Analysis by Flavor

The flavor segment includes fruit, chocolate, coffee, vanilla, and others. Fruit-flavored syrups hold a significant global market share due to their broad utilization in soft and fruit drinks. Furthermore, the demand for fruit syrups is high in frozen deserts, and increasing consumption of these products across regions has contributed to the segment growth.

The rising liking for coffee flavor also boosts its usage in different applications. In addition to the rapidly changing consumer preferences, manufacturers are looking for new product developments with blended flavors.

Analysis by End-Use

The end-use segment includes beverages, baked goods, confectioneries, and frozen desserts. The beverages segment holds a significant share of the global market due to the vast usage of different flavors in soft drinks and the high consumption of soft drinks globally. The strong affection for chocolate and coffee-based products, especially among Millenials and Gen Z, further boosts the use of these flavors in frozen desserts and confectionery products.

Regional Analysis

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The global market is geographically segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America holds a significant share of the global market, followed by Europe. The higher share of North America is owing to the higher consumption rate of ready-to-eat, bakery, confectionery, and soft drinks in the U.S. Furthermore, the higher preference for syrups in daily meals, such as snacks, desserts, and cereals in the U.S. and Canada is one of the significant factors in the region being dominant in global flavored syrup consumption. For instance, as per the U.S. Department of Agriculture (USDA) and the National Confectionery Association (NCA), around 92% of U.S. citizens eat candy at least 2-3 times a week.

Key Players Covered

The Hershey Company, Monin, Kerry Group, Concord Foods, Ghirardelli Chocolate Company, Tate & Lyle PLC, Nestlé S.A., Sonoma Syrup Co., The J. M. Smucker Company, and Natural Flavors, Inc. are a few significant players in the global flavored syrups market.

Key Industry Developments

• In April 2024, Torani, the leading flavor products company, launched its all-new dragon fruit syrup. The new addition is based on the company’s consumer research to cater to the increasing demand for dragon fruits in the global market.


• In August 2023, Torani announced the expansion of its syrup product range by launching its all-new syrup called Torani Sweet Heat Syrup.


• In April 2022, Mitalee Bharadwaj and Lisa Yala, Baristas, launched their all-new venture, Transcendence Coffee, an organic and natural flavored syrup manufacturer. The company formulates syrups from sugar cane, water, and whole spices.