Market Size (2017)
2017
$35.60B
Vertical: CFnBBase Year: 201811 Sections
Market Size (2017)
2017
$35.60B
Projected (2025)
2025
$55.28B
CAGR (2017–2025)
5.7%
5.7%Key Players
108+
The global flavored syrup market is expected to grow at a notable pace during the forecast period. The growth can be attributed to the increasing consumption of convenience foods and growth of the food service industry. Additionally, the demand for flavored syrups at the household level has significantly contributed to the growth of the market. However, rising health concerns among consumers and the need to reduce sugar consumption may affect the growth of the market. Thus, manufacturers are focusing on product innovation and introducing flavored syrups with natural flavors and sweeteners.
MARKET ATTRACTIVENESS ANALYSIS
GLOBAL FLAVORED SYRUPS MARKET, BY TYPE
GLOBAL FLAVORED SYRUP MARKET, BY CATEGORY
GLOBAL FLAVORED SYRUP MARKET, BY DISTRIBUTION CHANNEL
GLOBAL FLAVORED SYRUP MARKET, BY REGION
The Flavored Syrup Market market is projected to grow at a CAGR of 5.7% from 2017 to 2025.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansFlavored syrups are prepared with the help of natural or artificial flavoring agents mixed with sugar or sucrose to obtain a concentrate. They are manufactured in various flavors and are available across the globe. The wide application scope of these concentrates in various cuisines as a potential flavor enhancer has made them popular across regions. These syrups are used in beverages, desserts, and confectioneries, among others.
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View Subscription PlansRESEARCH PROCESS
Market Research Future analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, as well as the emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and the current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based on primary and secondary research.
PRIMARY RESEARCH
Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. For this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five years.
SECONDARY RESEARCH
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global flavored syrups market. It was also used to obtain key information about major players, market classification and segmentation according to industry trends, geographical markets, and developments related to the market and technology. For this study, analysts have gathered information from various credible sources such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organizations, and paid databases.
MARKET SIZE ESTIMATION
Both, top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent submarkets of the global flavored syrups market. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market have been covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data. This data has been consolidated and added with detailed inputs and analysis from market research future and has been presented in this report. The following figure shows an illustrative representation of the overall market size estimation process employed for the purpose of this study
Base Year
2018
Historical Period
2017 – 2018
Forecast Period
2018 – 2025
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansTHREAT OF NEW ENTRANTS
The global flavored syrup market is fragmented due to the presence of several local and global players. It is a perfect competition market with infinite buyers; hence, the sellers are aiming at capturing a large customer base. While the initial investments required to set up a flavored syrups manufacturing plant are low and the market offers moderate growth potential, the established market players have positioned themselves to target specific customers and, thus, have high brand recognition. Though the entry barriers for new players are low, the prominence of the established players significantly lowers the threat of new entrants. The established market players account for a major revenue share of the global flavored syrups market, especially in North America and Europe. For instance, Monin, Inc. is amongst the key players operating in the regions. Moreover, the established players offer several flavored syrups across the globe. Monin, Inc. provides over 150 varieties of flavored syrups while R. Torre & Co. (Torani) offers more than 200 flavored syrup products.
Hence, the threat of new entrants in the global flavored syrup market is expected to be low.
BARGAINING POWER OF SUPPLIERS
The suppliers in the global flavored syrup market are local farmers, sugar mills, stockists, and traders dealing in agricultural commodities such as sugar. There are several suppliers of raw materials; moreover, being a perfect competition market, there are numerous manufacturers active in the market. To overcome the challenges of fluctuating raw material availability and volatile raw material prices, the market players enter into long-term agreements. They also tend to prefer procurement from local and regional suppliers over importing ingredients.
Hence, the bargaining power of suppliers in the global flavored syrup market is expected to be moderate.
BARGAINING POWER OF BUYERS
The buyers in the global flavored syrup market are end consumers such as food service establishments, restaurants, bars, and households, resulting in high buyer concentration. Owing to the presence of numerous market players and low product differentiation, the buyers have several brands or product variants available in every price range. Thus, the switching cost for buyers is low in the global flavored syrup market.
Hence, the bargaining power of buyers in the global flavored syrup market is expected to be high.
THREAT OF SUBSTITUTES
There is no direct substitute for flavored syrups. There is a certain degree of internal substitution in the market due to the choice of flavors available to consumers. Additionally, the sugar syrups used to prepare flavored syrups can be substituted with maple syrup or high fructose corn syrup, thus affecting the quality and price of the end product.
Hence, the threat of substitutes in the global flavored syrup market is expected to be low.
INTENSITY OF RIVALRY
The global flavored syrup market is marked by a high intensity of rivalry due to the presence of numerous local and global manufacturers. The established players in the market are targeting competitors in terms of quality, price, and product differentiation, thus making the industry competitive and reducing profit potential for the existing firms. The key players invest in product development by introducing different flavors to bring about innovation in their product lines and meet changing consumer preferences.
Hence, the intensity of rivalry in the global flavored syrup market is expected to be high.
Market estimates by geography (2025)
InsightAsia Pacific leads with $18.01B by 2025.
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View Subscription Plans| REGION | 2017 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $8.43B | $10.31B | $12.87B | 5.4% | 23% |
| Europe | $9.98B | $12.36B | $15.62B | 5.8% | 28% |
| Asia Pacific | $11.31B | $14.13B | $18.01B | 6.0% | 33% |
| Rest of the World | $5.88B | $7.11B | $8.78B | 5.1% | 16% |
| Total | $35.60B | $43.92B | $55.28B | 5.7% | 100% |
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View Subscription PlansTotal Market Size
$55.28B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Food Service | $34.33B | 5.7% | 66% |
| Food Retail | $20.95B | 5.7% | 89% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Flavored Syrup Market covering market dynamics, competitive landscape, and strategic outlook.
The Flavored Syrup Market market is projected to reach $55.28B by 2025, growing at 5.7% CAGR. The Food Service segment holds the largest share.
The global flavored syrup market is expected to register a notable growth rate during the forecast period. Growth of the food service industry and increasing consumption of convenience food products are the major factors driving market growth. Rising consumer preference for natural and organic products and continuous demand for new flavors are expected to create new opportunities for the vendors active in the global market. However, rising health concerns due to sugar-based syrups are restricting the growth of the market.
Flavored syrups are a popular topping and ingredient in convenience foods such as ready-to-eat foods, frozen desserts, bakery products, and on-the-go beverages. An increase in the working population, rise in per capita disposable income, and hectic lifestyles are boosting the sales of convenience food products across the globe. Breakfast cereal is another popular end-use application for flavored syrups, especially for children, as they help enhance or add flavor. According to MRFR analysis, the US is a prominent country-level market for breakfast cereals, registering the highest retail sales. By 2025, the US breakfast cereal market is expected to garner a revenue of USD 12.08 billion.
The demand for food products and beverages made from natural and organic ingredients is increasing. Rising health consciousness is propelling food & beverage manufacturers to launch products with natural and organic ingredients. According to the Soil Association Limited, the US accounted for 46% of the global sales of organic products in 2017, while Germany accounted for 11% and France for 8%, depicting the high demand for natural and organic products in North America and Europe. Additionally, in the UK, organic agricultural land increased from 482,7000 hectares in 2016 to 484,8000 hectares in 2017, with a more than 29.4% year-on-year growth in the conversion of conventional land to organic land. Such promising growth statistics, in both upstream and downstream industries, offers market players lucrative opportunities with the addition of natural and organic flavored syrups to their portfolios.
In the current market scenario, the majority of flavored syrups are manufactured using sugar syrup as a base ingredient. The high consumption of sugar-based flavored syrups increases calorie intake, leading to various health issues such as diabetes, obesity, and cardiac health problems. According to the American Heart Association, the recommended calorie intake for women is not more than 100 calories a day, whereas for men, the recommended intake is not more than 150 calories a day. On average, the number of calories present in sugar-based flavored syrups ranges from 80–100 per 30 ml of serving, while sugar-free flavored syrups contain almost zero calories per 30 ml serving.
Flavored syrups are also made from various synthetic ingredients such as artificial flavors, preservatives, and coloring agents. These ingredients are considered incidental additives and are not required to be mentioned on the product packaging by the US Food and Drug Administration (FDA). Thus, the consumption of unknown synthetic ingredients could result in a rise in the prevalence of several health issues. Artificial flavors are known to cause chest pain, allergies, fatigue, nausea, central nervous system depression, and headaches. The preservatives used in flavored syrups, such as potassium sorbate and sodium benzoate, when consumed in high doses, can prove to be toxic and cause genetic mutations leading to cancer. Thus, the high consumption of sugar-based flavored syrups is contributing to the hike in obesity rates and increasing prevalence of cardiac diseases.
Rising health concerns among the global populace are, therefore, expected to hamper the growth of the market for flavored syrups made using sugar syrup and synthetic ingredients.
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Profiles of 108 companies operating in the Flavored Syrup Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
WHOLESOME SWEETENERS INC.
Headquarters: Sugar Land, Texas, US Founded: 2001 Workforce: NA Company Working: Wholesome Sweeteners Inc. provides organic natural and unrefined sweeteners to the wholesale food, food ingredient, and foodservice industries. The company offers sugars, syrups, nectars, honey, non-GMO sugars, molasses, and stevia directly to consumers through retail stores.
VKL SEASONING PVT. LTD.
Headquarters: Mumbai, Maharashtra, India Founded: 1935 Workforce: NA Company Working: VKL Seasoning Pvt. Ltd. is one of India’s largest whole spice traders and seasoning and flavor solution providers. The company offers food & beverage solutions for quick service restaurants, fine dining establishments, and manufacturers of snacks, convenience foods, dairy products, bakery and confectionery products, and beverages across the globe. The company sells its product in 35 countries and has a strong presence in Asia-Pacific, the Middle East, and South-East Asia. It caters to the hotels, restaurants, and cafés (HoReCa) segment in India through its subsidiary Food Service India Pvt. Ltd. (FSIPL). The company offers a diverse range of Indian and international gourmet syrups, sauces, toppings, and concentrates under the brand name MarimBula.
THE HERSHEY COMPANY
Headquarters: Pennsylvania, US Founded: 1894 Workforce: ~19,860 Company Working: the Hershey company is one of the leading producers and distributors of chocolate across the globe. The company is also among the major producers of snacks and baked products such as cookies and cakes. The Hershey company markets sells and distributes its chocolate and non-chocolate confectionery products under more than 80 brands in around 85 countries worldwide. the Hershey company offers flavored syrups such as chocolate syrup, sugar-free syrups, and caramel syrup under the brand name Hershey’s. In addition, Reese’s, Jolly Rancher, Ice Breakers, and Kisses are other major brands of the Hershey company, under which it offers various products. The major product line of the company is sugar confectionery, pantry items such as ingredients for bakery, beverages, toppings for various food products, mint and gum refreshing products, along with various mixes and snacks. The products offered by the Hershey company are available at grocery stores, confectioneries, convenience stores, drug stores, departmental stores, dollar stores, mass merchandisers, wholesale clubs & distributors, along with several vending enterprises. The company has diversified business across, North & Latin America, Asia Pacific, the Middle East & Africa, along with the European nations.
KERRY GROUP PLC
Company Headquarters: Tralee, Ireland Founded: 1972 Workforce: ~ 23,000 Company Working: Kerry Group plc (Kerry Group) is engaged in offering nutritional and functional solutions to food, beverage, pharmaceutical, and other industries. The business is divided into two divisions: Taste & Nutrition and Consumer Foods. The Taste & Nutrition business is engaged in technology and solutions for taste, nutrition, and functional ingredients for the food, beverage, and pharmaceutical industries. Consumer Foods manufactures and distributes customer-branded chilled food items in Ireland and the UK. The company’s product portfolio offers dairy flavors, lipids, fermented ingredients, probiotics, protein fractions, enzymes, bioactive, biopreservation, metabolites, and other nutritional & functional ingredients. The company also offers various food products, including chilled foods, dairy flavor products, textures, taste modulation and natural extracts, meat, cereals, and sweet and savory products. With over 18,000 products and over 1100 R&D scientists, the company has 152 manufacturing facilities in 36 countries and 580 patents globally. The company offers its products under the brand names Fridge Raiders, Galtee, Wall's, Dairygold, LowLow, Charleville, Mattessons, Strings and Things, Rollover, Naked Glory, Denny, and Richmond. The company offers its ingredients and nutritional products across Europe, Africa, the Middle East, the Americas, and Asia-Pacific and markets its food products through multiple convenience stores, retailers, and e-commerce channels in selected markets.
R. TORRE & CO. (TORANI)
Headquarters: San Leandro, California, US Founded: 1925 Workforce: ~200-500 Company Working: R. Torre & Co. (Torani) is a family-owned business engaged in the production of flavored syrups. Torani prominently deals in the selling and marketing of these flavors and food ingredients. Its sauces and syrups were flavored, promoting soda and spawning tasteless lattes. They created colorful flavors using only natural ingredients such as spices and pure cane sugar. The company offers more than 200 naturally flavored syrups, sauces, and beverage bases for coffee, soda, tea, smoothies, and cocktails in more than 40 countries. It offers its products to cafés, bars, and restaurants as well as to home kitchens through distributors, retail stores, and online stores. Moreover, the company has also been dealing in zero sugar syrups which are being sold through various distribution channels owned by the company. The company has a major presence across North American countries and striving for its expansion of business across the nations.
AMORETTI
Headquarters: Oxnard, California, US Founded: 1988 Workforce: NA Company Working: Amoretti is engaged in the manufacture of food ingredients including spreads, flours, concentrates, compounds, extracts, swirls, food colors, powders, flavorful smoothie mixes, premium syrups, olive oil, and food flavors for the food & beverage industry. It offers more than 140 fruit- and flower-based flavors to restaurants and bars. The company has also expanded its market presence by offering a variety of products on e-commerce platforms such as Amazon in the US, Canada, and the UK.
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Flavored Syrup Market