A Frontline Approach on Flavored Syrups Market

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Flavored Syrups – History and Origins of Flavored Syrups

Flavored Syrups are those syrups that are made by infusing flavoring agents during cooking or manufacturing processes. A wide variety of flavoring agents are used often in combination with each other that include certain herbs, spices, aromatics and artificial or synthesized flavorings. Naturally flavored syrups are in vogue since ancient times, when Roman Emperor Nero around 270 B.C.E. sent slaves to collect snow ice from nearby mountains for flavoring the ice with fruit and honey mixture. There are now hundreds of flavored syrups ranging from cherry, peach to vanilla, malt, coconut, almond, gingerbread and much more.

The global flavored syrup market was worth $40.65 billion in 2016 with a CAGR of 3.70% that is expected to reach $48.75 billion by the end of 2021. The growing demand for flavored syrups in food and beverages industry with consumers preferring a variety of flavored products is driving the flavored syrup market share. In addition, the flavored syrup market is generating the majority of its revenue from finished beverages manufacturers and the trend towards vertical integration is shifting industry related revenue into the Soda production industry.                   

Innovations in global flavored syrup market – A short analysis

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The flavored syrup market is the growth engine for the global food and beverage industry with the consumption of flavored syrups on the rise especially in European and African markets. As per a reputed market research report – the sales in flavored syrup market has risen from a 22% increase in France to about 36% in the Czech Republic.  The most amazing fact is that the consumption of flavored syrup has risen in South Africa to 1.8 billion liters in 2009 which is further expected to rise by about 3 billion liters by 2020 which is an increase of 62%.

There are huge innovations being carried out in the flavored syrup category that is enabling manufacturers in offering the right positioning and labeling right from refreshing mainstream fruit flavored syrups to those flavored syrups containing natural ingredients.

The key factors that are helping towards the growth of global flavored syrup market    include-

  • The rising demand for the personalized flavors in food products
  • The emergence of ready to eat foods as an alternative to traditional cooking methods is spurring the demand for flavored syrups across the globe.
  • The demand from pharmaceutical industry due to the requirement of flavored syrup products in medicines to make these medicines more appetizing and flavorsome for the people/patients using medicines.
  • The importance of savory flavored syrups with their applications has expanded beyond the beverages such as in meat recipes, salad dressings and in the preparation of bakery products for instance in pancakes, cupcakes, pastries etc is further accelerating the growth of the global flavored syrup market.

Market Potential of Flavored Syrup Market – A Preview

Majority of key players in global flavored syrup market are in the market for over five decades and they are continuing to innovate with new flavors and new syrup categories. Flavors like Pumpkin Space, Pomegranate, Candied Orange, Spice Berry etc are the result of research and development carried out by the food industry.  The global flavored syrup market is extremely competitive nowadays with growing number of new players entering the market with new innovations and technologies to gain or tap international footprint.

In spite of tough competition, there is high growth potential in emerging markets such as in Asia-Pacific, Middle East, and African regions. The rising income levels in developing economies provide the flavored syrup manufacturers to expand their business to the untapped regions.  The chocolate flavored syrups segment has the major share with highest CAGR due to growing level of consumer demand for chocolate based products and flavors. The other demand for flavored syrup comes from Diary & Frozen Desserts segment due to its varied applications in milkshakes, flavored milk, whipped creams, frozen desserts etc.

Technologies such as developing the flavor of syrup from Ultra-High Reverse Osmosis Processing System that is capable of concentrating the sap to very high levels >30” Brix has the potential in providing the additional gains in processing efficiency and profitability. The key players in the field of global flavored syrup market include Kerry Group Plc, Concord Foods, Monin Inc, Nutrifood, and others.

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