Flavored Syrups Market by Flavor (Fruit, Chocolate, Vanilla, Coffee, Herbs & Seasoning), Flavor Type (Sweet, Salty, Savory, Sour, Mint), Application (Beverage, Dairy & Frozen Dessert, Confectionery, Bakery), & by Region - Global Forecast to 2021
The flavored syrups market is projected to reach USD 51.31 billion by 2021, at a CAGR of 4.0% from 2016 to 2021. The market is driven by factors such as increasing consumer demand for a variety of flavors in food products, personalized flavor options and product variety, and increasing consumer preference towards convenience foods & ready-to-eat products. The high growth potential in emerging markets and untapped regions provides new opportunities for market players.
“Chocolate flavored syrup type is projected to be the fastest-growing segment from 2016 to 2021”
The chocolate flavored syrup segment is projected to grow at the highest CAGR from 2016 to 2021. In industrial usage, chocolate syrups and their varieties are widely used in bakery products, production of chocolate-flavored dairy drinks, frozen desserts, ice creams, chocolate confectionery, and chocolate-flavored beverages. Among final consumers, chocolate syrup is increasingly preferred in milkshakes, cold beverages, hot beverages such as tea and coffee, and as a topping on ice creams, pancakes, waffles, and cakes. Chocolate flavored syrups are mostly used in the North American and European regions.
“Sweet flavor led the market with the largest share in 2015”
On the basis of flavor, the flavored syrups market was led by the sweet flavor followed by the savory segment in 2015. The savory flavored syrups is projected to grow at the highest CAGR from 2016 to 2021. The importance of savory flavors are increasing as their applications have expanded beyond beverages and are now commonly used in meat recipes, salad dressings, and for the preparation of cupcakes & pancakes in bakery items among other applications. Savory flavored syrups, such as spicy and herb, are also increasingly used in food applications.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as mentioned below.
By Company Type: Tier 1 – 40%, Tier 2 – 50%, and Tier 3 – 10%
By Designation: Director level – 40%, and C Level – 60%
By Region: North America – 30%, Europe – 18%, and Asia-Pacific – 52%
Major players include:
Sensient Technologies Corporation (U.S.)
Monin Inc. (France)
Kerry Group (Ireland)
The Hershey’s Company (U.S.)
Tate & Lyle (U.K.)
The above-mentioned companies have collectively accounted for the largest portion of the flavored syrups market in 2015. Other players also have a strong presence in this market. These include:
Mitr Phol Group (Thailand)
Sensory Effects (U.S.)
Fuerst Day Lawson (U.K.)
R.Torre & Company (U.S.)
Concord Foods (U.S.)
Toschi Vignola (Italy)
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the global flavored syrups market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on flavored syrups offered by the top players in the global market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the flavored syrups market
Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for flavored syrups across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global flavored syrups market
Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of the leading players in the global flavored syrups market