Application of flavored syrups is gaining an increasing traction among the manufacturers across the food and beverage industry

September 08, 2020 - The global flavored syrups market size is expected to reach USD 65.6 billion by 2025, expanding at a CAGR of 5.1% over the forecast period. Application of flavored syrups as a taste enhancer and sweetener is gaining an increasing traction among the manufacturers across the food and beverage industry. The market growth is primarily attributed to increasing demand for customized flavors in the food and beverage industry.

Moreover, consumers' desire to try out different and unique fruit flavors are encouraging the manufacturers to develop duo-fruit syrups such as Lime-Ginger, Lime-Mint, and Raspberry-Mint, which offer a blend of sour, sweet, and bitter taste. Moreover, the companies are developing innovative flavors to cater to the frequently changing taste preferences of the consumers, thereby contributing to the global market growth. For instance, The agi fruit syrups range introduced a new category of honey-containing products with unique flavors such as baked apples with honey, raspberry-lemon balm with honey, and elder-lime with honey.

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The fruit segment held the largest share of 35.3% in 2018. Consumers' demand for fruit infused flavored syrups, coupled with high preferences for unique tastes, is a major factor driving the market. Based on the consumer's inclination towards pure, natural, and organic products, companies are also introducing syrups infused with fruit content. For instance, 100% natural sour cherry, apple and common sea-buckthorn, and apple and beetroot juice are some of the unique flavors blended with high fruit ingredients.

Similarly, Poloskei Drink Kft is a company that offers combined fruit flavored syrup. It blends basic flavors in its fruit syrups and also develops unique varieties such as acerola-raspberry and blueberry-raspberry. Caramel, hazelnut, and coffee flavors are also gaining significant traction in the beverage category. For instance, Starbucks uses a wide range of naturally flavored syrups such as caramel, hazelnut, and vanilla in their coffee.

Bakery and confectionery products are expected to register the fastest CAGR of 5.6% over the forecast period. Increasing consumer preferences for products such as bread, rolls, pastries, cakes pies, cookies, crackers, and pretzels are expected to augment demand for the global market. Beverages accounted for a share of more than 35.0% in 2018. Beverages, particularly cocktails, hot and cold beverages, and soft drinks are some of the common products that contain flavored syrups as a taste and sweetness enhancer ingredient.

Asia Pacific is expected to expand at the highest CAGR of 5.6% from 2019 to 2025. Bakery products are considered to be a product of mass consumption due to their low prices. Moreover, consumers' willingness to consume sweet foods have led the manufacturers to introduce innovative products infused with flavored syrups.

Further key findings from the report suggest:

• The global flavored syrups market is expected to expand at a CAGR of 5.1% from 2019 to 2025 and reach a value of USD 65.6 billion by 2025

• Asia Pacific is estimated to register the fastest CAGR of 5.6% over the forecast period owing to high demand and product launches in India and China

• By type, chocolate is expected to register the fastest CAGR of 5.7% over the forecast period

• By application, beverages accounted for the largest share of more than 35.0% in 2018.

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