Flavoring Syrup And Concentrate Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Flavoring Syrup And Concentrate by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Flavoring Syrup And Concentrate, The flavoring syrup and concentrate market size has grown strongly in recent years. It will grow from $57.46 billion in 2023 to $61.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rise in disposable income and rising preference for processed food products.

The flavoring syrup and concentrate market size is expected to see strong growth in the next few years. It will grow to $77.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to demand for ready to drink beverages and demographic shifts in emerging markets . Major trends in the forecast period include manufacturing products with organic ingredients, automation technology to improve production efficiency and profits, manufacturing sugar free products to increase consumer demand, manufacturing versatile and flavored food products, offering products infused with cbd and offering unique flavors products.

The growth of the flavouring syrup and concentrate manufacturing markets is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021, both according to the IMF. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market’s growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the flavoring syrup and concentrate manufacturing market during the forecast period.

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The flavoring syrup and concentrate market covered in this report is segmented –

1) By Type: Syrups, Molasses, Sweet Spreads, Jam, Jellies, Preservatives, Savory Spreads

2) By Flavors: Fruit, Chocolate, Vanilla, Coffee, Herbs & Seasonings, Other Flavours

3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Food And Beverages Stores, E-Commerce, Other Distribution Channels

4) By Application: Individuals, Beverages, Dairy & Frozen Desserts, Confectionery, Bakery, Other Applications

Syrup and concentrate manufacturers are increasingly offering products made with natural and organic ingredients. Innovative flavoured products with enhanced nutritional value and low sugar content are attracting consumers with health consciousness. For instance, in March 2022, PepsiCo’s, a US-based food, snack, and beverage corporation, launched Maple Syrup cola. This luscious maple syrup flavour profile is combined with the crisp, refreshing caramel overtones of a Pepsi.

The flavoring syrup and concentrate market report table of contents includes:

Executive Summary
Flavoring Syrup And Concentrate Market Characteristics
Flavoring Syrup And Concentrate Product/Service Analysis -Product/Service Examples
Flavoring Syrup And Concentrate Market Trends And Strategies
Flavoring Syrup And Concentrate Market – Macro Economic Scenario