Flavored Syrup Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Flavored Syrup Market is segmented By Type ( Chocolate,  Ginger,  Vanilla,  Fruit,  Corn,  Others), By Flavor ( Savory,  Sweet,  Salty,  Mint,  Sour,  Others), By Product ( Organic,  Natural), By Application ( Coffee*,  Deserts,  Bakery Products,  Shakes,  Others), By Region (North America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

Market Overview

Global Flavored Syrup Market reached USD million in 2022 and is expected to reach USD million by 2030 growing with a CAGR of xx% during the forecast period 2024-2031. The increasing use and rising demand for the flavored syrups in the food & beverage sectors are driving the growth of the global flavored syrup market.

The increasing consumer demand for a variety of flavors in food products is expected to grow the market expansion. The growing popularity of the personalized flavor options and product varieties raises the demand for customized flavors in the food and beverage sectors. The increasing consumer preference towards convenience foods & ready-to-eat products boosts the market for flavored syrup due to its wide use in food and beverages.

The producers are developing and launching new flavors and organic products, which is assisting in the expansion of the market. For instance, in 2022, Singing Dog Vanilla, a vanilla extract and flavor company, introduced, organic vanilla syrup. This syrup is used in the preparation of tea, iced coffee, latte, and beverage products to add a pure flavor.

Market Scope

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Market Dynamics 

Increasing Expansion of the Food Service Sector Drives the Market Growth.

The flavored syrups are significantly used in various food service applications. It is used in large quantities in coffee shops, bakeries, and bars. They are also used as a topping for pastries, coffee, and other drinks. The fruit flavored, chocolate, and caramel syrup are mostly used in the bakery sector. Moreover, they are ingredients in the majority of mocktails, cocktails, and other non-alcoholic beverages. 

The increased consumption of cocktails and mocktails at social events, business conferences, and concerts, in turn, caused the rise of flavored syrup sales. Flavored syrup demand is primarily fueled by the rising popularity of eating out and the strong demand for beverages and sweets. The consumers' preferences for various flavored syrups, foods, and beverages, accelerate the growth of the global flavored syrup market.

Increasing Demand for New Flavors Drives the Market Growth

There is a rising demand for new flavors making the key players invest more in R&D efforts. The evolving lifestyles, eating patterns, and a desire for diversity, have changed the consumer preferences. Producers of flavour syrup are focusing on releasing new flavors in order to compete in the worldwide market and satisfy consumers' evolving tastes. They are adding new flavors and fruit-based combinations to their products to satisfy the rising demand for these flavors.

The local producers of flavored syrups give distinctive varieties like acerola raspberry and blueberry-raspberry syrups that are created by fusing fundamental flavors. Due to consumers' growing willingness to attempt novel products, market players might also concentrate on launching unusual and exotic flavors. Some regional players have launched dual-fruit flavored syrups with the flavors of lime-mint, baked apples with honey, lime-ginger, a raspberry-lemon balm with honey, and mint.

Increasing Health Concerns Restrains the Market Growth.

The major restraint for the global flavored syrup market is the increasing health concerns among people. The flavored syrup is made up of synthetic sweeteners mostly. These particular synthetic sweeteners are loaded with higher levels of sugar. These flavored syrups’ regular consumption can lead to health issues such as obesity, and diabetes due to their high sugars and calories. 

There is an increased health consciousness among consumers. This is leading to an increasing preference towards healthy food habits. With the increase in health concerns like diabetes and obesity, the consumer is shifting towards zero or low-calorie diets. The World Health Organisation estimated that about 422 million people worldwide are suffering from diabetes. This factor is anticipated to limit market opportunities for the flavoured syrups market.

Segment Analysis 

The global flavored syrup market is segmented based on type, flavor, product, application, and region.

In the Flavored Syrup Market, the Fruit  Segment Holds the Largest Market Share. 

The global flavored syrup market has been segmented by type into chocolate, ginger, vanilla, fruit, corn, and others. The fruit segment held the largest flavored syrup market share of 3o.8% in 2022 in the flavored syrup market analysis report. The increased trade and production of the fresh fruits are driving the target segment’s expansion.

The increasing demand for flavor-infused syrups with fruit infusions and unique flavors is one of the primary drivers fueling this segment’s growth. The fruit flavoured syrups are used in the preparation of various products such as milkshakes, pastries, ice cream, cocktails, and fruit drinks. They are also great for topping delicacies like pastries, ice cream, and fruit salads. The growing demand for fruit flavored syrup is driving the segment’s growth.

Geographical Penetration

The North America Held the Largest Share of the Global Flavored Syrup Market.

The global flavored syrup market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American flavored syrup market held the largest market share of 38.6% in 2022 in the flavored syrup market analysis. Increasing disposable income and rising purchasing power in this region boosts the market growth. 

The increased use of flavouring syrup is promoted in the food and beverage industry. The abundance of high-quality ingredients, such as toppings, chocolates, and flavors, in turn, increased the use of flavored syrup in this region. The increased acceptance of fruit syrups in the U.S. and Canada and rising consumers’ preference for flavored syrups in daily meals such as beverages, desserts, snacks, and cereals is boosting this region’s market. 

Major Key Players

The major global players in the market include Sensient Colors LLC, MONIN, Kerry, The Hershey Company, Tate & Lyle, Toschi Vignola s.r.l., ADM, Starbucks Coffee Company, The J.M. Smucker Company, and MANE.

COVID-19 Impact Analysis

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

The unprecedented COVID-19 pandemic in 2020 profoundly affected the food support and services industry. Covid-19 has considerably impacted the global food support and services supply chain phases involving flavored syrup production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments. 

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food support and services industries as well. The COVID-19 pandemic is upending life, and the food support and services sector is seeing increased trends like flavored syrup. The food support and services businesses are launching innovative programs, including flavored syrup, that are straightforward to utilize.

By Type

• Chocolate
• Ginger
• Vanilla
• Fruit
• Corn
• Others

By Flavor

• Savory
• Sweet
• Salty
• Mint
• Sour
• Others

By Product

• Organic
• Natural

By Application

• Coffee
• Desserts
• Bakery Products
• Shakes
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In November 2022, MONIN, a French syrup manufacturing company, introduced Le Crush de MONIN, a fresh product line with the flavors strawberry, pineapple, and mango. 
• In August 2022, Singing Dog Vanilla, vanilla flavor manufacturer, introduced an organic vanilla syrup in the US market. 
• In June 2022, First Day Lawson Ltd., an ingredients provider company, bought Quest Ingredients Ltd., a taste, and botanical extracts manufacturer. The main objectives of FDL's acquisition strategy are increased primary markets and customer bases in Europe and the US.

Why Purchase the Report?

• To visualize the global flavored syrup market segmentation based on type, flavor, product, application, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development. 
• Excel data sheet with numerous data points of flavored syrup market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The Global Flavored Syrup Market report would provide approximately 69 tables, 73 figures and 165 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies