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The global flavored syrup market is experiencing a significant growth, and will grow considerably in next few years owing to its wide application in food and beverages industries. Flavored syrup is simple sugar syrup with added natural or synthetic flavors. Flavored syrup is flavored with vanilla, chocolate, coffee, fruits, berries and mint among others. Flavored syrup is used to make drinks and bakery products both in households and at commercial level. It is used to give flavors to different types of beverages and confectionary food items. It is easily available in supermarket/ hypermarket, retail stores, as well as in e-commerce platform.
COVID-19 ScenarioAnalysis:
The worldwide outbreak of covid 19 has led to serious implications in all the economic sectors. The covid 19 outbreak in all over the globe has created medical emergency due to which the demand for food items, hygiene products and medical product market are growing. In the covid 19 scenario people are more inclined toward consuming safe, reliable and healthy foods. Therefore, covid 19 has increased the sales of traditional, healthy and staple food items. The frozen non-veg food, fruits& vegetables, eggs, pulses, flour and whole grains are experiencing growth in the covid 19 scenario. However, packaged foods, coffee, pastries, milkshakes, sweets, chocolates, cheese and other bakery products have experienced a decline in its sale due to which the demand for flavored syrup in these packaged and processed food industries has also been declined. In addition the lockdown scenario in various countries has hampered the production and supply chain of the flavored syrup products. The consumer buying behavior may change permanently post covid 19. Companies have to build robust sales plan for recovery.
They might have to adopt e-commerce platform and omnichannel in their supply chain.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The wide usage of flavored syrup in bakery products, alcoholic and nonalcoholic beverages, and dairy products is the key factor increasing the demand for flavored syrup. Flavored syrup in household to make cake, bread, and drinks etc. which in turn giving traction to the flavored syrup market. Moreover, it is also used in pharmaceutical industry which further propels the market of flavored syrup.
The flavored syrup made with organic ingredients and natural sweeteners like allulose, agave nectar and organic berries is expected to dominate the market due to the rising awareness about various health benefits of organic food and natural sweeteners among consumers. Moreover increasing obesity and diabetes is supporting the growth of flavored syrup made with natural sweeteners.
The global flavored syrup market trends are as follows:
New product launches to flourish the market
The launches of new products that contain have been launched by leading market players. Leading companies are focused in making new flavored syrup products with enhanced flavor and taste. To serve the increasing demand of organic food and beverages manufacturers are engaged in launching flavored syrup with organic ingredients. For instance, in April 2019, Torani, a leading market player in the flavor industry launched its new product line, “Puremade Syrups and Sauces”. It is flavored syrup with amazing flavor and clean, natural ingredients such as raspberry, hazelnut and vanilla among others.
Key Benefits of the Report:
Questions Answered in the Flavored Syrup Market Research Report:
Key Market Segments
Key Market Players