Flavored syrup is generally a concoction of sugar with added flavors, which may be natural or artificial. Sometimes, a sugar substitute may also be used to cater to the health-conscious population. It is available in a range of flavors and are used as a condiment over various foods and beverages. Some of the popular flavors are chocolate, strawberry, caramel, and vanilla among others. These are used to flavor coffee, milkshakes, as a dessert topping, and in baked goods among a host of other possible end uses. Regional variations of flavored syrups exist which are influenced by local cultures and cuisines and are a regular feature in local kitchens.
Flavored Syrup Market Outlook
- The consumption of flavored syrup has been witnessing a surge in the recent years. This is in line with the growing demand for the key end products like baked goods and frozen desserts as well as food and beverages, thus covering a wide range including most food items. This is indicative of the diversity of the product and is a key factor driving its growth.
- Further, flavored syrups are a key ingredient in most processed foods whose consumption is on a rise the world over. This would be another driving factor boosting the market’s growth over the forecast period.
- A larger number manufacturers are introducing flavored syrups that use natural sweeteners and also products with zero added sugar to cater to the growing health conscious population. This product segment would drive the market’s growth over the forecast period.
Flavored Syrup Market: Regional Highlights
- The study has been conducted across the key regions like North America, Europe, Asia Pacific, and Rest of the World. Rest of the World comprises Latin America and Middle East and Africa.
- Growing disposable income in the emerging regions of Asia Pacific and Latin America on the back of an economic expansion would bring hitherto unaffordable products within reach. These include a range of food and beverage products which use flavored syrup.
- Further, North America and Europe dominate the market currently in 2019 owing to the favorable economic and demographic conditions as also their relative higher consumption of key end products.
Flavored Syrup Market Segmental Overview
- Fruit, chocolate and vanilla are among the most preferred types of flavored syrups owing to their ability to pair well with a range of dishes. Chocolate flavored syrup is a favorite across a wide range of consumers followed by vanilla and caramel.
- Flavored syrups are a common addition to beverages like coffee and milkshake as well as a topping for frozen desserts and ice cream. They may also be used as a topping on confectionery products or to add flavor to cakes and pastries.
Flavored Syrup Market Key Players
The major companies operating in the flavored syrup market include ADM, Concord Foods, LLC, Kerry Inc, MONIN, Nestlé, NutriFoods, PANOS brands, SensoryEffects, Inc, TATE & LYLE SUGARS, The Hershey Company, The J.M. Smucker Company, Torani, and William Fox Drinks Co Ltd among others.
The key players in the flavored syrup market are keeping their ears to the ground so as to not miss out on any upcoming market developments. Keeping a pulse of the rapidly changing consumer behavior would benefit the makers and would enable them to stay ahead of the curve to obtain a competitive edge in a dynamic market. In this regard, new product development and adopting sustainable manufacturing practices is a leading strategy being adopted by the manufacturers given the nature of the market. Additionally, with the rising disposable income in the emerging regions, the population has a greater spending power and this geography presents attractive and incremental growth opportunities for the key players across the flavored syrups market.