Spread is an essential part of ingredient in the breakfast for the western countries such as jams, peanut butter, cheese and honey which attract large number of customers. Syrups include artificial or natural ingredients to add the additional sweetener and flavor to the food. Syrups are made up of fruits, corn and maple and it is also employed in medicine. Introduction of new maple syrup which contains high nutrition value and anti- oxidant properties helps to improve the digestion of the customer. Syrups & spread is used in topping of bread, doughnuts, waffles and baked products. Innovation in taste and flavor of the customer surge the demand of syrup & spread in the market.
COVID-19 Scenario Analysis:
- The syrup & spread market witnessed significant growth as the demand of the customers is shifting toward trendy & fashionable the food items.
Manufacturers are facing difficulty in catering the demand of customer because of disturbances in production and supply chain due to trade barrier and restrictions in movement of raw materials & labor
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in population, urbanization, changing taste and preference of the customers influences the demand of syrup and spread in the market. Increase in number of working women, demanding more convenient food items such as bread & jams, spread, which saves time and are easy to prepare & carry has increased the demand of syrup & spread. Sweets are the important part of everybody diet and by adding syrup and spread in diet as additional sweetener provides good flavor to the food. However, the major constraints of the market is lack of entry barriers in the market allowing new players to enter and launch the products at economical pricing hampering the profit margin of the existing players. Contrarily, investment by the market leaders in new economical production process will boost up the market.
Healthy products to cater the changing market demand
Consumers are more concerned about their health & fitness and they are replacing the sugar with honey to consume low calories. To fulfill the demand of the customers manufacturers are offering more healthy items i.e. Nutella in different flavors and Peanut butter which contains more protein and less palm oil, the various spread provide nutrition value of fruits in the form of jam. It is available in low price and high quality which boost the growth of syrup and spread market. Preferences of the customer differ from region, Indian customer prefer to have butter or jam spread on their bread where Italian people prefers Nutella spread on their bread and the sale of the product also depend on the region.
Flavored Syrup is used as an additional sweetener and provide good flavors in the topping of ice cream, cupcakes, bakery products and many more but it is hazardous for diabetes and high blood sugar patients. Syrups are also used in the Pharmaceutical companies which provide relieve from cold, fever, allergies and for strong immune system.
Europe holds the highest revenue share in the spread and syrup market because of high consumption of bakery and dessert product. Increase in disposable income, changing lifestyle of consumers and use of syrup and spread in their breakfast is increasing the demand of syrup and spread in European countries. . North America is also dominating the global syrup & spread market due to the rise in consumption of people, changing food habits, and demand from pharma companies & food processing units across U.S. & Canada. Asia Pacific region also shows the significant growth in the next few years because of increase in disposable income, changing lifestyle and eating habits of the consumers and increasing chain of retail sector in China and India which will increase the growth of the market.
Rise in Online Distribution Channel
The Syrup and spread are easily available on both online and offline channels. Most of the customer preferred to buy from the online store because of convenient delivery system, cash back & discount offers which attracts the consumers. Various offline channel such as Hypermarket/ supermarket, convenience store and departmental store also offers convenient & hassle-free buying option for the consumers.
Key Benefits of the Report:
- This study presents the analytical depiction of the Syrup & Spread 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 detailed analysis of the Syrup & Spread market share.
- The current market is quantitatively analyzed to highlight the global Syrup & Spread market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Syrup & Spread market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Syrup & Spread Market Research Report:
- What are the leading market players active in the Syrup & Spread 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?
Syrups & Spread Market Report Highlights
By Distribution Channel
Key Market Players
Coca-Cola, Tate & Lyle, Akron Inc., Sonoma Syrup, Cedarvale Maple Syrup, Conagra Foods Inc., Barilla Pesto, Master Herbs Inc., Corn Refiners Association, Tropicana OJ
Archer Daniels Midland Company, Ingredion Inc., Cargill Inc., Cornish Syrup Co., Hershey’s Symphony, Kerry Group, Monin Inc., Concord Foods, Guangzhou Zhengliang