Deep Analysis of Impact of COVID-19 on “Flavored Syrups Market 2019-2025” Growth Worldwide….

The global flavored syrups market size is expected to reach USD 65.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% over the forecast period. Application of flavored syrups as a taste enhancer and sweetener is gaining an increasing traction among the manufacturers across the food and beverage industry. The market growth is primarily attributed to increasing demand for customized flavors in the food and beverage industry.

Moreover, consumers’ desire to try out different and unique fruit flavors are encouraging the manufacturers to develop duo-fruit syrups such as Lime-Ginger, Lime-Mint, and Raspberry-Mint, which offer a blend of sour, sweet, and bitter taste. Moreover, the companies are developing innovative flavors to cater to the frequently changing taste preferences of the consumers, thereby contributing to the global market growth. For instance, The Ági fruit syrups range introduced a new category of honey-containing products with unique flavors such as baked apples with honey, raspberry-lemon balm with honey, and elder-lime with honey.

The fruit segment held the largest share of 35.3% in 2018. Consumers’ demand for fruit infused flavored syrups, coupled with high preferences for unique tastes, is a major factor driving the market. Based on the consumer’s inclination towards pure, natural, and organic products, companies are also introducing syrups infused with fruit content. For instance, 100% natural sour cherry, apple and common sea-buckthorn, and apple and beetroot juice are some of the unique flavors blended with high fruit ingredients.

Similarly, Pölöskei Drink Kft is a company that offers combined fruit flavored syrup. It blends basic flavors in its fruit syrups and also develops unique varieties such as acerola-raspberry and blueberry-raspberry. Caramel, hazelnut, and coffee flavors are also gaining significant traction in the beverage category. For instance, Starbucks uses a wide range of naturally flavored syrups such as caramel, hazelnut, and vanilla in their coffee.

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Bakery and confectionery products are expected to register the fastest CAGR of 5.6% over the forecast period. Increasing consumer preferences for products such as bread, rolls, pastries, cakes pies, cookies, crackers, and pretzels are expected to augment demand for the global market. Beverages accounted for a share of more than 35.0% in 2018. Beverages, particularly cocktails, hot and cold beverages, and soft drinks are some of the common products that contain flavored syrups as a taste and sweetness enhancer ingredient.

Further key findings from the report suggest:

·         The global flavored syrups market is expected to expand at a CAGR of 5.1% from 2019 to 2025 and reach a value of USD 65.6 billion by 2025

·         Asia Pacific is estimated to register the fastest CAGR of 5.6% over the forecast period owing to high demand and product launches in India and China

·         By type, chocolate is expected to register the fastest CAGR of 5.7% over the forecast period

·         By application, beverages accounted for the largest share of more than 35.0% in 2018.

The global flavored syrups market size was valued at USD 46.3 billion in 2018 and is expected to expand at a CAGR of 5.1% from 2019 to 2025. The market growth is primarily attributed to increasing demand for personalized flavors in the food and beverage industry. Application of flavored syrups as a taste enhancer and sweetener is gaining an increasing traction among the manufacturers across the industry. The beverage category has been contributing to the maximum demand for the market, comprising a wide variety of liquid syrups in different flavors.

Fruit flavored syrups have been dominating the global market due to its widespread application in beverage products such as cocktails, soda and cold drinks, and soft drinks. Growing consumer preference for syrups with high fruit content has been a major factor driving the manufacturers to introduce wide varieties of syrups infused with natural ingredients. For instance, the two most preferred fruit flavors include raspberry and orange. Moreover, consumers’ willingness to try out different and unique fruit flavors is encouraging the manufacturers to develop duo-fruit syrups such as Lime-Ginger, Lime-Mint, and Raspberry-Mint, which offer a blend of sour, sweet, and bitter taste.

Moreover, the companies are developing innovative flavors in order to cater to the frequently changing taste preferences of the consumers, thereby contributing to the global market growth. For instance, The Ági fruit syrups range introduced a new category of honey-containing products with unique flavors such as baked apples with honey, raspberry-lemon balm with honey,andelder-lime with honey.

Flavored syrups are highly popular in the western countries such as U.S., Canada, U.K., Germany, and France. High production and consumption of these products in the above-mentioned countries have been contributing to the growth of the global market. These syrups are majorly consumed as a topping ingredient in pancakes, desserts, waffles, various breakfast foods, ice cream, and other ready to eat products. Moreover, growing demand for chocolate flavored syrups for cold beverages and various bakery and confectionery products is expected to drive the market in the next few years.

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Grand View Research has segmented the global flavored syrups market on the basis of type, application:

Flavored Syrups Type Outlook (Revenue, USD Million, 2015 - 2025)

·         Fruit

·         Chocolate

·         Vanilla

·         Others

Flavored Syrups Application Outlook (Revenue, USD Million, 2015 - 2025)

·         Bakery & Confectionery

·         Beverages

·         Dairy & Frozen Desserts

·         Others

Beverages accounted for a share of more than 35.0% in 2018. Beverages, particularly cocktails, hot and cold beverages, and soft drinks are some of the common products that contain flavored syrups as a taste and sweetness enhancer ingredient. For instance, Starbucks uses a wide range of naturally flavored syrups such as caramel, hazelnut, and vanilla in their coffee.

The bakery and confectionery segment is expected to register the fastest CAGR of 5.6% over the forecast period. Increasing consumer preferences for products such as bread, rolls, pastries, cakes pies, cookies, crackers, and pretzels is expected to fuel the segment growth. Introduction of novel flavors, along with increasing indulgence factor among the consumers in the APAC countries, is expected to drive the demand for the global market in the next few years.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.