170 Pages Market Research Survey by Fact.MR, A Market Research and Competitive Intelligence Provider Offers Insights into Factors Driving the Market Growth for Flavored Syrups
NEW YORK, July 15, 2021 /PRNewswire/ -- Flavored fruit syrup sales outlook remains optimistic as a latest Fact.MR Analysis. The survey report discloses insights into flavored syrup market in terms of flavors, end use, and sales channel. It identifies product launches and differentiation as key strategies adopted by flavored syrup manufacturers to gain edge over competition.
Fact.MR: The global flavored syrup market is expected to surpass a valuation of US$ 84 billion by 2031, growing at a CAGR of 5% during the forecast period 2021 to 2031 in comparison to 4% CAGR registered between 2016 to 2020. As per Fact MR, the increasing demand in household and bakery & confectionery sectors will give tailwinds to flavored syrup sales, which is estimated to grow at 1.6X during the assessment period.
Fruit flavored syrup is dominating the global market due to its widespread applications in beverage products such as cocktails, mocktails, soda, and soft drinks. As these syrups are utilized as a topping ingredient in cakes, rolls, pancakes, and desserts, the fruit flavor segment is likely to account for over 38% of the revenue share by 2021.
On the flip side, the COVID-19 pandemic has severely impacted the global market. A significant decline in sales has been witnessed due to the closure of the leading syrup consuming sectors - hotel, restaurant, and catering (HoReCa) amidst lockdown. Considering this, the demand for flavored syrup was down by 2.4% in 2020. Nevertheless, with increasing demand from the household sector and ease of lockdown, the market is expected to bolster.
As per an analysis Fact.MR, North America is dominating the market, accounting for a revenue of US$ 17 billion in the year 2020. In response to rapidly expanding food industry and rise in number of restaurant chains, North America is anticipated to account for more than 30% of the syrup demand throughout the forecast period.
"Flavored syrup manufacturers are emphasizing on developing innovative flavors by using duo-fruit and honey-containing syrups to cater to frequently changing preferences in the taste of the consumer, in turn, contributing to the global market growth," says the Fact.MR analyst.
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Leading players in the flavored syrup industry are focusing on developing innovative flavors to enhance their product portfolio and expand their market share. For instance,
In February 2021, Monin Inc. announced a launch of its new strawberry rose flavored syrup. The flavor adds a scarlet hue while it carries soft rose and notes of candied strawberry in sip and bites of the products in which it is used.
In June 2021, Torani the launched its new line of flavors including Puremade Mangonada Syrup, Puremade Chocolate Hazelnut Sauce, and Puremade Black Sugar Syrup.
Some of the leading players operating in the flavored syrup market profiled by Fact.MR are:
The Hershey Company
Tate & Lyle
Fuerst Day Lawson
Archer Daniels Midland Company
Starbucks Coffee Company
More Valuable Insights on Flavored SyrupMarket
Fact.MR, in its new report, offers an unbiased analysis of the global flavored syrup market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in the flavored syrup market with detailed segmentation:
Fruit Flavored Syrup
Chocolate Flavored Syrup
Vanilla Flavored Syrup
Other Flavor Syrups
By End Use
Household Consumption of Flavored Syrup
Flavored Syrup for Bakery and Confectionery
Flavored Syrup for HoReCa
Flavored Syrup for Dairy Product Manufacturers
Flavored Syrup Other Applications
By Sales Channel
Direct Sales of Flavored Syrup
Modern Trade of Flavored Syrup
Flavored Syrup Sold at Convenience Stores
Flavored Syrup Sold at Specialty Food Stores
Flavored Syrup Sold through Other Sales Channels
Key Questions Covered in the Flavored SyrupMarket Report
The market survey also highlights projected sales growth for the flavored syrup market between 2021 and 2031
The report offers insight into flavored syrup demand outlook for forecast period 2021-2031
Flavored syrup market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Flavored syrup market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Explore Fact.MR's Coverage on the Food & Beverage Domain –
Brown Rice Syrup Market- Added sugar has been linked to major health issues such as obesity, heart disease, diabetes, and cancer. As a result, natural sweeteners are consumed in large quantities in a variety of forms. Brown rice syrup's high protein and vitamin B concentration makes it an effective treatment for damaged hair and nails, as well as a mental stabilizer. North America and APAC are prospective markets for brown rice syrup because of the growing number of health-conscious people and changing lifestyle trends. Furthermore, nutritional concerns are a primary driver of increased demand for brown rice syrup on a global scale.
Natural Flavor Carrier Market- The need of value addition has become increasingly significant in the food processing business, where products that add flavor or nutritional value are in great demand. In addition, as a result of urbanization, the development of the middle class, and growing living standards, emerging economies are seeing an increase in demand for processed and packaged foods, resulting in a significant dietary shift toward value-added products. Demand for specialty flavor ingredients such as natural flavor carriers is expected to rise significantly in the future years.
Organic Bakery Market- Consumer demand for organic bakery products is driving producers to develop new organic bakery products with improved taste and flavor using cutting-edge technology and procedures. Manufacturers are also looking for new ways to extend the product's shelf life. Natural flavors are used in the production of organic bakery products, and manufacturers are still looking for natural preservatives that will keep the organic bakery items fresh for a long time. Organic baking is gaining popularity among manufacturers as well.
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