According to The Insight Partners’ research, the flavored syrup market was valued at US$ 42,306.1 million in 2018 and is projected to accrue US$ 64,960.7 million by 2027, expanding at 4.9% CAGR between 2019 and 2027. Surging consumer demand for convenience foods, growing demand for flavored syrup from food & beverage and pharmaceutical industries, and availability of diversified range of flavors are the crucial factors contributing to market augmentation.

Syrups are defined as the dense blend of water and sugar which adds sweetness and taste to foods such as fruit, chocolate, coffee, and vanilla. The demand for flavored syrups is increasing due   to growing consumer preference for processed or convenience foods. Convenience foods are those foods which require minimal or no processing and are used to minimize time and energy needed for preparing food. With the growth of the food & beverages industry and rise in income levels, consumers are demanding more convenience foods which will drive market augmentation in the forthcoming years.

The versatility of flavored syrup and its availability in various forms makes it a perfect choice for use in several end-use applications such as dairy & frozen desserts, beverages, confectionery, bakery, thus aiding expansion of the market. Furthermore, companies are introducing savory flavors and better sugar-free options for consumers suffering from diabetes The manufacturers are looking forward to tapping such opportunities to capture a wider customer base and greater market share. On the other hand, the health hazards posed by the high sugar content in flavored syrups will likely hinder market proliferation over the forecast period.

Download PDF Brochure At: https://bit.ly/3Su6o1m

Based on flavor, the global flavored syrup market is split into fruit, chocolate, vanilla, herbs & seasonings, and others. Among these, the fruit segment held 35% of the market share in 2018. The segment was assessed at US$ 14,803.0 million in 2018 and is projected to grow at 4.8% CAGR during the forecast timeframe to garner US$ 22,551.5 million by 2027.

As per flavor type, the market is arrayed into sweet, salty & savory, sour, and mint. Among these, the sweet segment captured 38% of the market share in 2018. The segment was gauged at US$ 16,058.3 million in 2018 and is projected to accrue US$ 25,002.3 million by 2027, expanding at 5.1% CAGR throughout.

Moving on to application scope, the global flavored syrups market is divided into beverages, dairy & frozen desserts, confectionary, bakery, and others. Among these, the beverages segment accounted for 31.9% of the market share in 2018. The segment was evaluated at US$ 13,476.0 million in 2018 and is slated to garner US$ 21,106.7 million by 2027, augmenting at 5.1% CAGR between 2019 and 2027.

Geographically speaking, North America held a significant share in the market in 2018. The regional market was assessed at US$ 19,163.8 million in 2018 and is anticipated to be worth US$ 28,830.5 million by 2027, expanding at 4.7% CAGR throughout. Meanwhile, Europe is projected to record a stellar growth rate of 5.5% CAGR over the analysis timeframe and is anticipated to amass US$ 18,513.8 million by 2027.

Leading players profiled in the global flavored syrup market report are Sensient Technologies Corporation; The Kraft Heinz Company; Cedarvale Maple Syrup Co.; Archer Daniels Midland Company; American Sugar Refining, Inc.; Kerry Group plc; Monin, Inc.; Small Hand Foods; Sunny Sky Products, LLC; and The Hershey Company.