Syrup Market

Market Overview:

The global syrup market size reached US$ 3.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.

Syrup refers to a viscous liquid that mainly comprises of highly concentrated sugar solution added with flavoring agents. It is mostly available in the form of chocolate syrup, maple syrup, fruit syrup, malt syrup, corn syrup, tapioca syrup, flavored syrup, etc. Syrups are primarily adopted as taste enhancers, flavoring agents, food additives, sweeteners, and beverage concentrates. As a result, they are widely utilized in bakery products, frozen desserts, confectioneries, beverages, pharmaceuticals, etc.

The rising urban consumer lifestyles coupled with the growing demand for ready-to-eat food products are primarily driving the use of several condiments, including syrups. Furthermore, the increasing consumption of flavored syrups as toppings and sweeteners with frozen yogurts, desserts, breakfast cereals, beverages, etc., is further catalyzing the global syrup market growth. The rising levels of globalization have led to the increasing adoption of cross cultural food trends, thereby augmenting the product demand across the globe. Furthermore, the increasing popularity of flavored beverages has led to the introduction of newer syrup variants in the food and beverage sector. Moreover, the rising consumer health concerns towards the high glycemic index (GI) of conventional syrups have led to the launch of organic product variants in the market. These organic syrups contain low-calorie formulations with natural flavoring and sweetening agents, thereby experiencing high demand among the health-conscious consumers.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global syrup market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on flavor, application and distribution channel.

Breakup by Flavor:

• Vanilla
• Strawberry
• Chocolate
• Mint
• Others
   

Breakup by Application:

• Beverages
• Dairy and Frozen Desserts
• Confectionaries
• Bakery Products
• Others
   

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Sales
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
  • Turkey
  • Saudi Arabia
  • South Africa
  • Others
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Amoretti, Conagra Brands Inc., Concord Food LLC, The Kraft Heinz Company, Nature’s Way Brands, LLC, NutriFood, PepsiCo Inc., Sonoma Syrup Co. and The Hershey Company.

Report Coverage:

Key Questions Answered in This Report:

• How has the global syrup market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global syrup market?
• What are the key regional markets?
• What is the breakup of the market based on the flavor?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the distribution channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global syrup market and who are the key players?
• What is the degree of competition in the industry?