Industry Trends

Practices › Consumer F&BFlavored Syrups Market


Flavored Syrups Market


Food & Beverage
Consumer F&B

The market size is projected to reach USD 51.31 Billion by 2021, at a CAGR of around 4.0% from 2016 to 2021. The global flavored syrups market has grown exponentially in the last few years. Emerging countries such as China, Thailand, and Singapore are the primary targets of the industry. Increasing consumer demand for a variety of flavors in food products, personalized flavor options and product variety, and increasing consumer preference towards convenience foods & ready-to-eat products are some of the major driving factors for this market.

On the basis of type, the global market based on type is segmented into fruits, chocolate, vanilla, coffee, herbs & seasonings, and others (nuts, floral, and confectionery). Fruit flavored syrups accounted for the largest market share in 2015 followed by chocolate flavored syrups which is projected to grow at the highest CAGR during the forecast period due to its industrial application in bakery products, production of chocolate-flavored dairy drinks, frozen desserts, ice creams, chocolate confectionery, and chocolate-flavored beverages. Furthermore, the growing level of consumer demand for chocolate has boosted the consumption of chocolate flavors and their usage in a diverse range of food products as chocolate syrups are widely preferred by the final consumers in milkshakes, cold beverages, hot beverages such as tea and coffee, and as a topping on ice creams, pancakes, waffles, and cakes.

The global market, based on application, is segmented into beverages, dairy & frozen desserts, confectionery, and bakery. Beverages accounted for the largest share of this market in 2015. Beverage application in the flavored syrups market is growing as they are largely used in producing cold beverages such as iced tea, flavored sodas, mochas, and to make customized cocktails & mock tails at food service outlets. Furthermore, there is an increasing trend of using flavored syrups in hot beverages such as tea and coffee (lattes) to provide flavor variations to consumers to meet their tastes and preferences.

On the basis of flavor type, the market is segmented into sweet, salty, sour, savory, and mint. The sweet form accounted for the largest market share in 2015. The savory form is projected to grow at the highest CAGR from 2016 to 2021. The importance of savory flavor is increasing as its application has expanded beyond beverages and are now commonly used in meat recipes, salad dressings, and for the preparation of cupcakes & pancakes in bakery items among other applications. Savory flavored syrups, such as spicy and herb, are also increasingly used in food applications.

Flavored Syrups Market

Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Diverse food habits, increasing popularity of the varieties of flavors in food products, and rising disposable income are some of the factors driving this market.

The flavored syrups market is highly competitive and concentrated due to the presence of a number of large- and small-scale firms. Acquisitions, new product developments, and expansions & investments are the key strategies adopted by market players to ensure their growth in the market. Players such as Sensient Technologies Corporation (U.S.), Monin Inc. (France), Kerry Group plc (Ireland), The Hershey Company (U.S), and Tate & Lyle (U.K) collectively accounted for the largest portion of the flavored syrups market in 2015. Other players such as R. Torre & Company (U.S.), Fuerst Day Lawson (U.K.), Sensory Effects (U.S.), Concord Foods (U.S.), NutriFood (U.S.), Mitr Phol Group (Thailand), and Toschi Vignola (Italy) also have a strong presence in this market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

We can help find ?

Latent demand for you, for your prospective client, or your prospective partners