Global Generic Flavouring Syrups Market Research Report
The Global Generic Flavouring Syrups Market research report offers comprehensive coverage of this market, including recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, and regional and global market share. The report also examines emerging revenue pockets, category growth, application niches and dominance, and technological innovations. It also details key players involved in the global and regional flavored syrups market.
Health-related issues associated with flavored syrups
Flavored syrup is a concentrated solution of sugar or another aqueous liquid. A simple syrup is sucrose in purified water. A medicated syrup contains added medicinal substances. It can also contain polyols to retard the crystallization of sucrose and increase the solubility of the added ingredients. Various health-related issues are associated with generic syrups. You should be aware of these issues before you purchase any generic syrup.
Trends in flavored syrups market
Global flavored syrups market is divided into three regions namely North America, Europe, and Asia Pacific. Asia Pacific is dominated by factors such as growing disposable income and diverse food habits. The report also provides an insight into the regional market, which is led by major players such as Monin Inc., Tate and Lyle PLC, and Nutrifood. Further, this market report also identifies the most important players in the market.
The leading brands are focusing on bringing new flavors to the market. In April 2021, Nickel Dime Cocktail Syrups launched four new flavored cocktail syrups. These include the caged heat cocktail syrup made of tamarind, cardamom, and ghost pepper. In spring 2021, Starbuck introduced brown sugar syrup, which has a caramelized brown sugar flavor and is a great mixer with coffee. Moreover, Kerry Group acquired Tianning Flavor& Fragrance Co. Ltd. in January 2021, thereby introducing new brands in the market.
The global market for flavored syrups is highly competitive and consolidated. Several companies compete for market share with investments, expansions, and acquisitions. This report includes the market shares and company profiles of the key players operating in this industry. It analyzes the latest industry developments, including trade regulations, product approvals, and geographic expansions. It also includes competitive insights and market forecasts for the flavored syrups market.
The global flavored syrups market is expected to grow at a CAGR of 3.2% during the forecast period, from 2021 to 2028. The report also analyzes the market based on type, flavour, and application. In 2021, the global market for flavored syrups was valued at USD 48.7 billion and is expected to reach USD 58.8 billion by 2028. The global market for flavored syrups is largely driven by the rise in health consciousness.
In 2018, the fruit segment held the largest share of the market, with a market volume of more than 35.0%. This growth is attributed to the rising demand for fruit-based flavored syrups, as well as increasing research and development of combinations of fruits. Major players are increasingly focusing on developing fruit-based flavored syrups. These types of syrups have a variety of uses in food and beverage industries.
While health concerns about sugar-based syrups have limited the market's growth, other health-related concerns will continue to impact the industry. As a result, consumers are shifting away from sugar-based flavored syrups and opting for alternative products such as organic maple syrup. Additionally, concerns about synthetic additives will continue to pose a challenge to the market during the forecast period (2021-2028).
The global flavored syrups market is segmented by flavor type, application, and geography. Savory flavor segment is expected to grow at the highest CAGR. Other flavor types include fruit, vegetable, and malt flavours. In addition to sweeteners, syrups contain carbohydrates, sugar, and other nutrients. Furthermore, consumers are increasingly interested in health-conscious products, such as non-alcoholic beverages. While flavoured syrups offer a healthy alternative to carbonated beverages, the high sugar content in artificial sweeteners is expected to reduce demand.
North America is projected to hold the largest market share for flavored syrups in 2021. This region is fueled by a rising number of consumers and a thriving bakery industry. Moreover, Asia Pacific is expected to grow at the fastest CAGR of 5.0%. Rising disposable incomes and diverse food habits are driving growth in this region. As a result, the market is expected to grow exponentially in the coming years.
Flavored syrups are typically available in three main segments: bakery & confectionery, beverages, dairy & frozen desserts, and others. The beverage segment, with a market share of around 35.0% in 2018, is expected to be the largest. The beverages category includes hot and cold drinks, cocktails, and soft drinks. Flavored syrups are commonly used to add flavor to food products, such as soft drinks and coffee.