Syrups Market Size
Trends & Forecast Report 2027
The global flavored syrups market was worth USD 47.5
Billion in 2020 and is
further projected to reach USD 65.9 Billion by 2027, at a CAGR of 4.9% during
2021-2027 (forecast period). The basic reasons contributing to the demand of
flavored syrups market are rising demand for different flavors in food products
and availability of product variety in the market. Also, the shifting
preference of consumers towards convenience foods and ready-to-eat products is
driving the flavored syrups market growth. The global flavored syrup market is
expected to expand throughout the forecast period, owing to customers'
increasing preference for artificial or natural flavor enhancers in convenience
Global Flavored Syrups Market Overview:
and natural flavorings, which are combined with water and sugar, are called
flavored syrups. The basic purpose of these flavored syrups is to increase the
organoleptic characteristics of the product. These syrups not only increase the
flavor of the product but add nutrients as well. These syrups are used in a
variety of industries, including food, drinks, baking, and confectionary.
Consumer demand for convenience meals, as well as the increasing use of
flavored syrups in numerous industries, are the primary factors driving the
need for flavored syrups market growth.
Syrups Market Forecast
consumer demand for convenience foods
The rising consumer preference towards
processed and convenience foods is increasing the demand for flavored syrups
market. Foods that require minimal or no processing and usually requires less
time and energy in making called convenience foods. Flavored syrups are used to
enhance the taste and flavor of convenience foods such as bread and
confectionery products, desserts, and dairy products. The increase in the
income levels of consumers and the growth of the food and beverages industry
are the factors, which are boosting the flavored syrups market.
applications in breakfast
Another key reason driving the growth of the
flavored syrups market is the use of these syrups in breakfast items. The
number of working women has increased globally;
consequently, their daily lifestyle has become too hectic, leaving
little time for making sophisticated morning meals. Consumers
therefore, prefer these syrups to add flavors to easy-to-make and
ready-to-eat breakfast products as they have less time in the morning. These
syrups are being used as a topping in breakfast items, which is raising
consumer demand and pushing the market for flavored syrups.
The primary impediment to the growth of the
flavored syrups market is the health problems caused by the increasing use of
high sugar content artificial sweeteners which can cause cardiac disorders, high
blood sugar, diabetes, and gastrointestinal disorders. Furthermore, there is a
growing concern over rising obesity as a result of excessive sugar consumption.
he use of syrups in the baking and confectionary industries leads to the
consumption of these items by children and the young population, which is not
good for their health and wellbeing. These are the factors that are impeding
the growth of the global flavored syrups market.
of COVID-19 in the industry
The COVID-19 pandemic has had extraordinary
and unanticipated consequences for communities as well as the global economy. The
outbreak of COVID-19 has affected almost every industry and the flavored syrups
market is no exception. The global flavored syrups market has witnessed a huge
decline in sales throughout the pandemic. People were only buying essential food items
because of the lockdown and the severe impact it had on their income. As a
result, the demand for flavored syrups was much lower in March and April 2020.
This trend is expected to continue till the pandemic continues to impact the
Syrups Market: By Flavor
Based on flavor type, the global flavored
syrups market is categorized into Fruit, Chocolate, Vanilla, Coffee, and Herbs
& Seasoning. Fruit flavored syrups segment held the
largest market share in 2020 followed by the chocolate flavored syrups, segment
which is expected to grow at the highest CAGR in the coming years. Fruit-flavored
syrups are extensively using in bakery and confectionery products, including
desserts, ice creams. Fruit syrups add a distinctive flavor to a variety of
drinks and mocktails. Consumers prefer chocolate-flavored syrups after
fruit syrup due to its use in a wide variety of food products, such as cold
beverages, hot beverages, toppings on ice cream, waffles, and cakes.
Syrups Market: By Taste
Based on taste type, the global flavored
syrups market is categorized into Sweet, Salty, Savory, Sour and Mint. The
sweet form has accounted for the largest market share in 2020. This form is
increasingly used in various desserts, shakes, bakery products, and ice creams.
However, the savory form is also projected to increase at the highest CAGR
during the forecast period as it is increasingly used in beverages. Also, savory
flavor is increasingly being used in meat dishes, salad dressings, and
in the preparation of cupcakes and pancakes in bakery items, among other
applications that are not confined to beverages. Savory flavored syrups, such
as spicy and herb, are increasingly being used in food applications,
influencing demand in this market.
Syrups Market: By Application
Based on application, the global flavored syrups
market is segmented into Beverage, Dairy & Frozen Dessert, Confectionery,
and Bakery. The beverage segment accounted for the largest share in the market in
2020 and is still growing progressively. Syrups are mostly used in the
preparation of cold beverages such as flavored sodas, mochas, and iced tea.
These are also used for preparing customized cocktails and mocktails. The
use of flavored syrups in hot beverages such as tea and coffee is becoming
increasingly popular. This aids in giving flavor variants to consumers in order
to satisfy their likes and preferences.
Syrups Market –
Based on region, the global flavored syrups
market is divided into North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa. Among these
regions, North America accounted for the largest share in 2020 due to the high
demand of consumers for convenience and ready-to-eat food. The Asia Pacific is also
likely to witness the fastest growth rates due to the rising demand for new and
advanced products in the food and beverage industry. The rate of progress is
also influenced by the growing number of new products developed and launched in
the food and beverage business. Additionally, improved government regulations
in the food and beverage sector in emerging economies such as China and India
will also drive the expansion of the global flavored syrups market.
In February 2021 – Smucker’s announced the
launch of a new cupcake-flavored “Unicorn Magic Shell” ice cream topping. This
Magic Shell topping has a wonderful white cupcake flavor with lovely pink, blue,
and purple speckles.
In February 2021, Monin, an award-winning
premium flavoring company with more than 100 years of experience, introduced the
2021 Flavor of the Year: Strawberry Rose. Monin Strawberry Rose Syrup combines
the queen of florals with ruby red strawberry to create a sophisticated bouquet
Key players in the global flavored syrups
market are Sensient Technologies Corporation, Kerry Inc., Sensory Effects, Inc,
Concord Foods, LLC, The Hershey Company, Monin, Archer Daniels Midland Company,
Starbucks Corporation, The J.M. Smucker Company, Mane, Stirling Flavors, LLC,
Malabar Food Products., W.T. Lynch Foods Limited, Midwest Syrup Company, RIO
Syrup Company, Inc., and other key manufacturers. The key players in the
flavored syrup market have been continually using the strategy of expansion as
well as investment in research and development to increase their customer base,
gain important market share worldwide, and promote their brand globally.
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain,
Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South
Africa, Saudi Arabia
By Flavor, By Taste Type,
By Application, By Region
Key players for global flavored syrups market are
Sensient Technologies Corporation, Kerry Inc., Sensory Effects, Inc, Concord
Foods, LLC, The Hershey Company, Monin, Archer Daniels Midland Company,
Starbucks Corporation, The J.M. Smucker Company, Mane, Stirling Flavors, LLC,
Malabar Food Products, W.T. Lynch Foods Limited, Midwest Syrup Company, RIO
Syrup Company, Inc. and other key manufacturers.
Herbs & Seasoning
Dairy & Frozen Dessert
1. What is the current size of the global flavored syrups market?
Global flavored syrups market has reached USD 47.5
Billion in 2020.
2. What are the major factors driving the
growth of global flavored
Answer: Rising demand for
varied flavors in food products, as well as the availability of product variety
in the market, are the primary factors driving the growth of the flavored
syrups market. Furthermore, the rising customer preference for convenience
foods and ready-to-eat goods is driving the growth of the flavored syrups
3. Who are the key players in the global flavored syrups market?
The key players in the global flavored syrups market are Sensient Technologies
Corporation, Kerry Inc., Sensory Effects, Inc, Concord Foods, LLC, The Hershey
Company, Monin, Archer Daniels Midland Company, Starbucks Corporation, The J.M.
Smucker Company, Mane, Stirling Flavors, LLC, Malabar Food Products., W.T.
Lynch Foods Limited, Midwest Syrup Company, RIO Syrup Company, Inc., and other
4. Which flavor type segment accounted
for the largest share in the global flavored
Fruits, by flavor type, accounted for the largest share in the global flavored
5. Which application segment accounted
for the largest share in global flavored
Beverages segment is growing at a higher rate in the global flavored syrups