FMI: Flavored Syrups Market Set to Surpass USD 54,350.3 Million by 2034

The global market for flavored syrups market is estimated to be around US$ 57,230.9 million in 2024. In 2023, the market was valued at US$ 54,350.3 million. It is projected to exhibit a CAGR of 4.00% over the forecast period, with an estimated market size of US$ 81,200.0 million by 2034.

Post-pandemic, there has been an excellent demand for artisanal and customized beverages across the world. This has opened new doors for the companies involved in manufacturing flavored syrups to capitalize on the growing trend for unique and personalized flavor experiences. Flavored syrups are liquid sweeteners that come in a wide array of flavors, including classics like vanilla and chocolate, as well as more exotic options such as fruit, nut, or spice-infused varieties.

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Flavored syrups find their applications in a wide range of industries. The demand for artificial syrups in the food and beverage industry is attributed to their ability to precisely replicate and maintain specific flavor profiles, ensuring a consistent taste in their products. Flavored syrups are also gaining popularity due to their consistent flavor profiles, cost-effectiveness, and versatility in applications.

One of the major contributors to the flavored syrup market is the foodservice sector. Flavored syrups are highly sought-after in restaurants, bars, cafes, etc., to make signature cocktails and non-alcoholic beverages. In the bakery industry as well, flavored syrups are used in the production of cakes, pastries, pancakes, smoothies, croissants, etc.

“As the world is pushing toward a healthier lifestyle, there is an excellent demand for nutritional beverages and shakes. Natural flavored syrups form an essential component of these food items. Key players in the industry must market their products accordingly to bring a substantial amount of health-conscious consumers to the market,” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Market Study:

• Synthetic syrups account for a market share of 34.00% in 2024.
• Coffee-flavored syrups are expected to hold 13.00% of the market in 2024.
• The flavored syrup market in Germany is predicted to grow at a CAGR of 6.50% through 2034.
• The flavored syrup market in China is predicted to rise at a 5.50% CAGR through 2034.
• The flavored syrup market in the United States has the potential to increase at a 4.50% CAGR through 2034.
• The Australian flavored syrup market is predicted to rise by 3.40% CAGR through 2034.
• The flavored syrup market in Japan is predicted to grow at a CAGR of 4.00% through 2034.

Key Companies in the Market

• The Hershey Company
• Monin
• Torani
• DaVinci Gourmet
• Fuerst Day Lawson (FDL)
• Kerry Group
• Sensient Technologies Corporation
• Concord Foods
• Mocafe
• Amoretti
• Ghirardelli Chocolate Company
• Tate & Lyle PLC
• Jordan’s Skinny Mixes
• Sweetbird
• 1883 Maison Routin
• Nestlé S.A.
• Walden Farms
• Jordan’s Skinny Syrups
• Sunny Sky Products
• R. Torre & Company (Monin)

Competitive Landscape:

• The global flavored syrup market is highly concentrated, with major players like Monin Inc., Sensient Technologies, The Hershey Company, Tate & Lyle, and Kerry Group dominating the market share.
• Key companies are actively producing sugar-free syrups in response to growing health-conscious consumer preferences, aiming to reduce overall sugar intake in their products.
• International players are capitalizing on the demand for natural food additives by manufacturing organically flavored syrups due to consumers’ increasing preference for natural and organic ingredients in their food and beverages.

Recent Developments:

• In March 2023, Torani, a century-old flavor industry leader, introduced Torani Kettle Corn Syrup, combining sweet and salty notes for a familiar yet pleasantly unexpected addition to its extensive syrup line.
• Jordan’s Skinny Mixes debuted a zero-calorie, naturally sweetened Pumpkin Spice syrup in August 2023, crafted with natural ingredients for an elevated beverage experience.
• IHOP and Kraft Heinz partnered to release a pancake-inspired coffee line with Signature Blend, Chocolate Chip, and Buttery Syrup flavors, expanding the iconic restaurant chain’s consumer packaged goods.