Global Chocolate Syrup Market 2017-2021
About Chocolate Syrup
Chocolate syrup is a chocolate-flavored condiment often used as a topping or dessert sauce for ice creams, mixed with milk to make chocolate milk, and blended with milk and ice cream to make chocolate milkshake. Chocolate syrups are sold in a variety of consistencies like a thin liquid or a thick sauce. Chocolate syrup is made using cocoa powder, corn syrup, sugar base, natural or artificial flavorings, and water. It is used as a flavor enhancer in tea and coffee.Technavio’s analysts forecast the global chocolate syrup market to grow at a CAGR of 4.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global chocolate syrup market for 2017-2021. To calculate the market size, the report considers the sales and value of the market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Chocolate Syrup Market 2017-2021
Technavio recognizes the following companies as the key players in the global chocolate syrup market: Nestlé, R. Torre & Co. (Torani), Hershey, and The J.M. Smucker Company.
Other Prominent Vendors in the market are: AH!LASKA, American Garden, Amoretti, Bosco Products, DaVinci Gourmet, H. Fox & Co., Monin, Sonoma Syrup, Tropicana Slim, Walden Farms, and Wilderness Family Naturals.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rise in demand for Fairtrade-certified organic cocoa. Fairtrade-certified organic cocoa products are made from cocoa that is produced on farms that do not follow inhuman practices such as child labor. The vendors, however, charge a Fairtrade Premium on their products. People are willing to pay the extra premium for Fairtrade-certified organic cocoa products like organic chocolate syrups.”
According to the report, one driver in the market is growing number of cafés. Increased use of chocolate syrup as a topping or flavor enhancer in desserts such as ice creams, pancakes, and pastries and beverages like coffee and tea is expected to support the market growth over the forecast period. Coffee shops or cafés are the largest end-user for chocolate syrup. Thus, increasing penetration of coffee shops is expected to fuel the market growth during the forecast period. The growing number of people dining out across developed countries will also boost the sales of chocolate syrup during the forecast period.
Further, the report states that one challenge in the market is growing health concerns about diabetes and obesity. It has been noted that the number of obese people is increasing globally. The rise in obesity levels is due to the ingredients in food products. The usage of emulsifiers in ice creams will lead to obesity and diabetes. Emulsifiers are additives that are added to the processing foods to stabilize them. As per the US Food and Drug Administration (FDA), emulsifiers are generally regarded as safe because they do not have a toxic effect on mammals and pose no risk of cancer. However, a recent study conducted in mice revealed that emulsifiers can alter the make-up of bacteria in the colon.
Nestlé, R. Torre & Co. (Torani), Hershey, The J.M. Smucker Company, AH!LASKA, American Garden, Amoretti, Bosco Products, DaVinci Gourmet, H. Fox & Co., Monin, Sonoma Syrup, Tropicana Slim, Walden Farms, and Wilderness Family Naturals.