The global syrup market is expected to grow at a robust phase owing to increased usage of syrups in packaged beverages and other products that contain high amounts of sugar. Consumers’ shifting preferences towards different and personalized flavours in this domain is also a key factor for the growth of this market.
Syrups are also used in pharmaceutical industry where they are used as additives in medicines for improving their taste. Also their use in cocktails and mocktails as taste enhancer results in overall growth of the industry. Due to high content of syrups in soft drinks, energy drinks and other beverages, health conscious people are looking for alternatives. Based on this, some low calorie syrups as organic products are also available in wide range.
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Common syrups are made from maple, fruits and corn. Syrups are used as additives in frozen yogurt, ice creams, and flavoured powder medicines etc. As consumers’ taste preferences for chocolate is growing in their foods, there is rise in demand for chocolate flavour which in turn benefits the growth of syrup market. However, consumer’s preferences for other different flavours are expected to increase worldwide.Maple syrups are protean in application for e.g. it is often used with pancakes, waffles, oatmeal, ice creams etc. Also, maple is used in baking, salad dressing, and sometimes in coffee or tea. Maple has high nutrition’s in form of minerals. Also it is considered to be effective antioxidant. These health benefits provided by maple have attracted health conscious people thus increasing demand in market.
Apart from this syrups are used by pharmaceutical companies mainly in improving the bitter taste of cough syrups. Moreover syrups are also used in coffee market. Coffee with flavoured syrups is being offered which overall has positive impact on profit worldwide. Demand for seasonal flavours in coffee market such as white chocolate, pumpkin spice, white mint etc. also helps grow syrup market globally.
On the basis of raw materials the syrup market can be segmented asred maple, black maple, sugar maple, various types of glucose, fruits etc. On the basis of flavour it can be classified as vanilla, chocolate, mint, fruit, etc.
On the basis of application it can be segmented as dairy products, beverages, food products, flavouring for baked food items, etc.
Based on distribution channel it can be segmented into online stores, retail stores, supermarkets, and grocery stores.
Among all regions mentioned, North America is the dominant region in terms of market share. More increase in consumption is expected in Europe.This will lead to a tough competition between European companies and American companies in near future. However Asia pacific is forecasted to witness fastest growth. Increasing demand for processed foods and beverages and also growing retail sectors in in heavily populated countries such as India and China can contribute to the growth of market globally.
Major companies in the market are ConAgra Foods Inc., Master Herbs, AkronInc., Coca-Cola, Cedarvale Maple Syrup, Tropicana, AuntJemina
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
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Rest of Western Europe
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