According to a research report published by Spherical Insights & Consulting, the Global Flavored Syrup Market Size reached USD 53.67 Billion in 2023 and is projected to expand to USD 77.67 Billion by 2033, representing a Compound Annual Growth Rate (CAGR) of 3.77% during the forecast period.
Flavored syrup, characterized as a spicy or semi-spicy liquid obtained by blending natural or artificial flavoring agents with sugar to create a concentrate, serves as a sweetening and flavor-enhancing agent.
These syrups are categorized into six flavor categories: savory, sour, sweet, salty, mint, and other, offering a diverse range of options to consumers. Varieties include herbs in addition to, seasonings fruits, vanilla, chocolate, and coffee.
The market is expected to witness significant growth owing to the rising demand for processed foods and the increasing utilization of flavored syrups in bakery and confectionery products.
Additionally, the growing consumption of dairy products and the utilization of flavored syrups as flavor enhancers and sweeteners further contribute to market expansion.
However, concerns regarding the high sugar content in flavored syrups pose challenges, particularly for individuals with hyperglycemia or high blood sugar levels.
Consequently, the market’s future growth may face hindrances due to these factors.
The companies operating in the flavored syrup market include The Hershey Company, The Kraft Heinz Company, Kerry Group, Tate & Lyle, Toschi Vignola s.r.l., Monin Inc., Fuerst Day Lawson, Torani, Concord Foods, R. Torre & Company Inc., The J.M. Smucker Company, Panos Brands, and Other Key Vendors.
