Global Syrups Market Size, Drivers, Trends, Opportunities And Strategies – Includes Syrups Market Analysis
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Growing demand for ready-to-eat food products is likely to promote innovation in syrup production, propelling the market over the forecast period.
The global syrups market is expected to grow from $35.19 billion in 2022 to $37.52 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The syrups market size is expected to reach $46.24 billion in 2027 at a CAGR of 5.4%.
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Global Syrups Market Segments Include:
- By Type: Chocolate Syrup, Maple Syrup, High-Fructose Corn Syrup, Rice Syrup, Malt Syrup, Tapioca Syrup, Fruit Syrup, Other Types
- By Packaging Type: Pouches, PET Bottles, Glass Bottles
- By Application: Drink And Beverages, Dairy Products, Bakery And Confectionary, Other Applications
- By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Online Stores, Other Distribution Channels
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global syrups market in 2021.
Major Market Players in the syrups market include Conagra Brands Inc., The Hershey Company, The Kraft Heinz Company, Sonoma Syrup Co, The Quaker Oats Company, The J M Smucker Company, Nestle SA, Monin, Amoretti, Tropicana Products Inc.
Product innovations are a crucial trend that is gaining traction in the syrups industry. Major syrup firms are focusing on providing novel ways to increase their market position. Singing Dog Vanilla, a US-based manufacturer of organic syrups, for example, launched Organic Vanilla Syrup in August 2022, a specifically developed with distinctive double-strength vanilla extract that will bring pure and complex flavour to tea, lattes, and other beverage items. It has a slight vanilla flavour from the syrup without being unduly sweetened with corn syrup. This organic vanilla syrup is a versatile organic vanilla syrup made with 25% more vanilla than other syrups.
The Syrups Global Market Report 2023 provides a syrups market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The syrups market forecast analyzes syrups market size, syrups market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Syrups are a thick sticky mix of sugar and water that is typically flavoured or medicated and dissolves in a beverage faster and easier than sugar. It’s used to sweeten hot or cold drinks.
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