Syrup Market Overview, Share, Growth Drivers and Global Industry Outlook 2023-2028
According to IMARC Group’s latest report, titled “Syrup Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global syrup market is expected to exhibit a growth rate (CAGR) of 3.9% during 2023-2028. Syrups refer to sweet, thick, and viscous liquids that consist of highly concentrated sugar solution and flavoring agents. Commonly available variants include maple, corn, fruit, chocolate, tapioca, flavored, and malt. Syrups are widely used as taste enhancers, sweeteners, toppings, flavoring agents, food additives, and beverage concentrates. In addition to this, they are also utilized as natural preservatives to minimize water activity and used in medicines to improve their taste. As a result, syrups find widespread applications in candies, frozen desserts, confectioneries, bakery products, beverages, and pharmaceuticals.
Market Trends and Drivers
The escalating product demand in the food and beverage (F&B) industry and the increasing consumption of ready-to-eat (RTE) meals are among the primary factors driving the market. Besides this, with the growing popularity of flavored beverages, there has been extensive usage of this liquid in mocktails, cocktails, energy drinks, and coffee to cater to the changing consumer taste and flavor preferences, which is further augmenting the global syrup market growth. Moreover, the development of new organic syrups by the leading companies, such as Amoretti, Cedarvale Maple Syrup Company, Conagra Brands Inc., Concord Food LLC, Kraft Foods (Kraft Heinz Company), Nature’s Way Products LLC, NutriFood Indonesia Pt, etc., containing low-calorie formulations with natural sweetening and flavoring agents, owing to the rising concerns toward the high glycemic index (GI) of traditional variants, is also catalyzing the global market. Apart from this, the launch of maple syrup, a healthy and versatile sweetener with high nutritional value and digestion-enhancing properties, is acting as another significant growth-inducing factor. Furthermore, the elevating product requirement as a topping and sweetener in breakfast meals, frozen yogurts, desserts, pancakes, waffles, and cereals is anticipated to propel the syrup market over the forecasted period.
Syrup Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the syrup market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Cedarvale Maple Syrup Company
- Conagra Brands Inc.
- Concord Food LLC
- Kraft foods (Kraft Heinz Company)
- Nature’s Way Products LLC
- NutriFood Indonesia
- Quaker Oats Company (PepsiCo)
- Sonoma Syrup Co.
- The Hershey Company (Hershey Trust Company)
Key Market Segmentation:
The report has segmented the global syrup market based on flavor, application, distribution channel and region.
Breakup by Flavor:
Breakup by Application:
- Dairy and Frozen Desserts
- Bakery Products
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Sales
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/syrup-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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