Flavoring syrups and concentrates are the flavoring agents used in various food products to enhance the palatability and flavor. Generally, flavored syrup is the sugar solution concentrated along with the naturally occurring or synthetic flavorings mixed with flavor concentrate. The standardization of syrups and concentrates is done in terms of Brix and they are considered under “Generally Recognized As Safe” (GRAS) as per the regulations of the Federal Food, Drug, and Cosmetic Act. The flavored syrups and concentrates are derived from natural sources such as fruits and vegetables, and also from artificial sources. They are used in food products such as dairy products, beverages, bakery and confectionary, and others. The use of flavoring syrups has also widened to the pharmaceutical industry to induce flavor in the bitter and saline drugs.
COVID-19 Scenario Analysis:
- The outbreak of the COVID-19 pandemic has impacted the manufacturing units of the flavoring syrup and concentrate industry, as the lockdown was implemented in various countries and the production was impacted.
- The lockdown scenario disrupted the procurement of raw material from various countries due to the ban on export and import.
- The uncertainty of supply chain and closing down of distribution channels such as supermarket and retail stores has anticipated to lower down the sales and revenue of flavoring syrup and concentrate market. The other industries that procured the flavoring ingredients were also shutdown therefore, causing slow down in the sales.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The flavoring syrup and concentrate manufacturing industries have widened the variants of products they have been manufacturing for a long time. The improved processes and techniques have led to the development of a wide variety of flavoring substances. These products are the flavoring essence used for inducing a variety of flavors in the products and are used both for residential and commercial use. The increased variants in the flavor, increase in disposable income, the surge in the requirement of flavored products, investment in R&D, technological improvement, varieties of raw material, augmentation in use of flavors in the various food sector, quality enhancement and regulated standardization are the key drivers of global flavoring syrup and concentrate manufacturingmarket. However,the increased competition, nutritional requirements, use of synthetic ingredients, the shelf life of the product, availability of the substitute products, and loss of nutrients while processing, hinders the market growth.
The global flavoring syrup and concentrate manufacturingtrends are as follows:
Increased vertical of flavoring syrup and concentrate manufacturing market
FAO has defined syrup as, “filtered juices that are concentrated by boiling until the sugar content reaches 50-70%. The heat and high solids content preserve the syrup and it is used in place of sugar and honey. Syrups can be made from a wide range of fruits, but the most common type is made from grapes.”The processing of flavoring syrup and concentrate has been increased by the improved technology and equipment introduced in the food and beverage industry. The key manufacturers have been inclined to extend their product line by manufacturing many variants of the flavoring syrup and concentrates. The production of chocolate syrup from cocoa has gained new trends in the market and is used for flavoring cakes, desserts, drinks, ice cream, and other dairy products making a huge market share in bakery and confectionary sector. Flavoring syrups and concentrates are not only popular for commercial use but have a huge residential use as well. The availability of these products in the supermarket, retail stores, and e-commerce has led to ease-of-availability to consumers.
The key manufactures are augmenting the market share by investing in R&D and launching new products. For instance, Kerr Concentrates Inc., one of the leading manufacturers has launched several flavors of natural fruit and vegetable flavors in different concentration levels to deliver high-quality flavor and color along with the nutritional benefits. Wild Flavors Inc. has expanded the product line by launching varieties of flavors such as single fruit juice concentrates, multi-fruit juice blends, high juice ingredients, and others.
Key Benefits of the Report:
- This study presents the analytical depiction of the global flavoring syrup and concentrates market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global flavoring syrup and concentrate manufacturing market share.
- The current market is quantitatively analyzed to highlight the global flavoring syrup and concentrate manufacturing market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed global flavoring syrup and concentrates manufacturing market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Flavoring Syrup and Concentrate Manufacturing Market Research Report:
- What are the leading market players active in the flavoring syrup and concentrate manufacturing market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Flavoring Syrup And Concentrates Market Report Highlights
By Product Use
By Distribution Channel
Key Market Players
Sensient Technologies Co., PepsiCo, Wild Flavors Inc., Monin, Illes Food Ingredients, David Michael & Co., Tampico Beverages, Coca-Cola Company, SodastreamUSA, Kerr Concentrates Inc., Golden State Foods, Flotek Industries, Flavor & Fragrance Specialties