Global Non-Alcoholic Concentrated Syrup Marketis is segmented By Type(Fruit Syrup, Vegetable Syrup, Flavored Syrup and Other), By Distribution Channel(Supermarkets/Hypermarkets, Specialty Stores, Convenient Stores, Online Stores and Others), By Application(Beverages, Desserts,Culinary Uses and Others), By End-User(Household and Commercial), By Region(North America, Europe, South America, Asia-Pacific and Middle East and Africa)
Market Overview
Global Non-Alcoholic Concentrated Syrup Market reached US$ 41.2 billion in 2022 and is expected to reach US$ 58.0 billion by 2030, growing with a CAGR of 6.5% during the forecast period 2023-2030.
The non-alcoholic concentrated syrup market is a dynamic and evolving sector within the beverage industry that revolves around concentrated syrups that, when mixed with water or carbonated water, create flavorful and customizable beverages. The market has witnessed significant growth due to shifting consumer preferences towards healthier and more personalized drink options.
The growing emphasis on health and well-being plays a crucial role in escalating consumer interest in the market. As individuals prioritize their health, they are proactively searching for substitutes to beverages laden with excessive sugar and synthetic flavors. For instance, the incorporation of natural sweeteners such as stevia and monk fruit within concentrated syrups addresses the needs of those aiming to decrease their sugar consumption.
Fruit syrup segment dominates the type segment with over 2/4th of the market. The segment’s natural goodness and versatile applications boosts its market share. North America dominates the regional segment with more than 2/5 th of the market share. The deep-rooted consumer preference for health-conscious options act as the primary reason behind the region’s dominance.
Market Scope
|
Metrics |
Details |
|
CAGR |
6.5% |
|
Size Available for Years |
2021-2030 |
|
Forecast Period |
2023-2030 |
|
Data Availability |
Value (US$) |
|
Segments Covered |
Type, Distribution Channel, Application, End-User and Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
|
Fastest Growing Region |
Asia-Pacific |
|
Largest Region |
North America |
|
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Market Dynamics
Evolving Consumer Preferences
Consumer preferences are shifting towards healthier and non-alcoholic beverage options, boosting the demand for non-alcoholic concentrated syrups. Non-alcoholic syrups offer a versatile base for creating a wide range of beverages, including mocktails, sodas and flavored water, aligning with the trend of reduced alcohol consumption.
As health-conscious consumers seek customizable and flavorful alternatives, the non-alcoholic concentrated syrup market is expanding. Further, the market’s share is increasing as manufacturers innovate with natural ingredients, sugar substitutes and exotic flavors to cater to diverse tastes. Moroever, the market size is projected to grow due to heightened awareness of sugar intake and the desire for premium and exotic beverage experiences.
Growing Trend of At-Home Mixology
The rise of at-home mixology has contributed significantly to the non-alcoholic concentrated syrup market's expansion. With consumers seeking to recreate bar-like experiences at home, these syrups provide an essential ingredient for crafting complex and flavorful drinks. The market share of non-alcoholic concentrated syrups is increasing as mixologists and home enthusiasts experiment with diverse flavor profiles.
Additionally, the market size is growing due to the convenience factor and the cost-effectiveness of preparing bar-quality drinks at home. Moreover, due to the rising demand for organic syrups, several major companies have redirected their efforts toward producing and capitalizing premium and artisanal syrup.
Growing Health and Wellness Trends
Health and wellness trends are key drivers of the non-alcoholic concentrated syrup market. As consumers seek beverages with natural ingredients, reduced sugar content and functional benefits, these syrups are gaining traction. Manufacturers are formulating syrups with natural sweeteners, botanical extracts and functional additives to cater to health-conscious consumers.
The market share of non-alcoholic concentrated syrups is expanding as a result of this emphasis on well-being. The market size is set to increase as consumers embrace these syrups as alternatives to sugary sodas and artificial beverages. The growing inclination towards plant-based and organic options further contributes to the market's growth trajectory.
Rising Demand for Flavor Innovation and the Integration Of Cultural and Regional Flavors
Flavor innovation is a significant driver of the non-alcoholic concentrated syrup market. Consumers are seeking novel taste experiences that go beyond traditional options, leading manufacturers to develop unique and diverse syrup flavors. The aforementioned drive for innovation enhances the market share of non-alcoholic concentrated syrups, as consumers experiment with new mixes and combinations.
Further, the market size is expanding due to the integration of cultural and regional flavors, catering to a global audience with diverse palates. Additionally, the trend of premiumization and the incorporation of high-quality ingredients contribute to the market's growth, as consumers are willing to pay for authentic and exciting flavor profiles.
Regulatory Challenges Regarding Labeling, Health Claims and Ingredient Sourcing
The non-alcoholic concentrated syrup market faces regulatory challenges that impact both its market share and size. Stringent regulations regarding labeling, health claims and ingredient sourcing can hinder the market's expansion. Compliance with differing regional regulations can be complicated and costly, discouraging some companies from joining or extending their products.
Moreover, the market size might experience constraints as companies invest resources in navigating these regulations rather than focusing on product innovation and market expansion. Innovative solutions that streamline regulatory compliance while ensuring transparency and consumer safety will be pivotal in unlocking the full potential of the non-alcoholic concentrated syrup market.
Segment Analysis
The global non-alcoholic concentrated syrup market is segmented based on type, distribution channel, application, end-user and region.
Natural Goodness and Versatile Applications of Fruit Syrups
The fruit syrup segment is a vibrant star in the non-alcoholic concentrated syrup market, reigning supreme with its natural goodness and versatile applications. Derived from an array of succulent fruits such as berries, citrus and tropical delights, fruit syrups infuse a burst of fruity essence into beverages, desserts and culinary creations and captivate taste buds with their genuine flavors.
Manufacturers currently offer a rainbow of options that cater to diverse palates. Fruit syrups tantalize mocktails, dress up ice creams and elevate pancakes with their enticing aromas. Embraced by health-conscious individuals, these syrups are cherished for their alcohol-free composition and abundant natural benefits, playing a pivotal role in propelling the segment’s market expansion.
Geographical Penetration
Health-Conscious Consumer Demand and Flavor Innovation Fuel Market Growth in North America
In North America, the non-alcoholic concentrated syrup market has emerged as a dynamic and lucrative sector. With a deep-rooted consumer preference for health-conscious options, non-alcoholic concentrated syrup have surged in popularity due to their alcohol-free composition and the enticing promise of indulgence without compromise.
The market's share and size have expanded significantly, reflecting a growing demand for premium, diverse and innovative offerings in the region. The trend mentioned above has resulted in a larger market size for North America, driven by the integration of these syrups in beverages, desserts and culinary creations.
The North American non-alcoholic concentrated syrup market share is a testament to consumers' evolving choices and the industry's ability to meet their desires. As the market continues to mature, it presents ample opportunities for businesses to innovate, expand their offerings and captivate the palates of a diverse and discerning consumer base.
Competitive Landscape
The major global players in the market include Monin, DaVinci Gourment, Amoretti, Jordan's Skinny Mixes, Stirling Flavors, 1883 Maison Routin, Hella Cocktails, Sweetbird, Fabbri 1905 s.p.a., Sonoma Syrup Co.
COVID-19 Impact Analysis
The COVID-19 pandemic had a mixed impact on the non-alcoholic concentrated syrup market. The closure of restaurants and bars and disruptions in supply chains and economic uncertainties did pose challenges leading to a drop in demand from the commercial sector. However, the trend of at-home consumption witnessed a surge as individuals sought to replicate their favorite beverages, the market share for non-alcoholic concentrated syrups witnessed a surge.
Additionally, the pandemic prompted a change in consumer preferences as health consciousness rose, affecting market share and size. With economic constraints, individuals became more cautious in their spending, potentially impacting the market's overall size. Thus, even though the pandemic brought opportunities for at-home consumption, it also highlighted the vulnerability of the market to external shocks, underscoring the need for adaptability and diversification.
Russia-Ukraine War Impact
The conflict between Russia and Ukraine could disrupt the non-alcoholic concentrated syrup market. Supply chains may be affected, causing delays and higher costs in sourcing ingredients and transportation. Export limitations and economic instability could shrink market access and demand in affected areas, impacting market size and share.
Additionally, uncertain circumstances might alter consumer spending habits, potentially affecting the consumption of non-essential items like non-alcoholic concentrated syrup. Furthermore, the geopolitical tension could create an atmosphere of caution among investors and businesses, leading to a potential decrease in overall market investments and expansion efforts.
Key Developments
- On March 14, 2023, Pansari Group, a prominent FMCG brand, launched a range of syrups called Mojee during the AAHAR-2023 International Food and Hospitality Fair. The exquisite range encompasses a selection of nine distinct flavors, featuring several options.
- On June 20, 2023, Monin, introduced its latest innovation, the Maple Pumpkin Cold Brew Coffee Concentrate. The product combines gourmet arabica espresso with the delightful essence of pumpkin spice and a luscious infusion of rich maple syrup, resulting in a flavor-packed concoction.
- On April 28, 2021, Rasna launched syrup concentrates with immunity boosters, including an Rs. 2 per glass immunity fruit-based drink, aligning with the global focus on immunity amid COVID-19. Ensuring accessibility, Rasna prioritizes affordability for children across locations.
Why Purchase the Report?
- To visualize the global non-alcoholic concentrated syrup market segmentation based on type, distribution channel, application, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of non-alcoholic concentrated syrup market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global non-alcoholic concentrated syrup market report would provide approximately 69 tables, 70 figures and 186 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Suggestions for Related Report
