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Flavoring Syrup And Concentrate Global Market Report 2022

Flavoring Syrup And Concentrate Global Market Report 2022

  • June 2022
  • 300 pages
  • ID: 6284467
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the flavoring syrup and concentrate market include The Coca-Cola Company, Ingredion Incorporated, Archer-Daniels-Midland Company (ADM), Kerry Group plc, Keurig Dr Pepper Inc., Meiji Holdings Co Ltd, The Hershey Company, Sensient Technologies Corporation, Monster Beverage Corporation, and TreeHouse Foods.

The global flavoring syrup and concentrate market is expected to grow from $50.48 billion in 2021 to $55.06 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The market is expected to grow to $74.51 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%.

The flavoring syrup and concentrate market consists of sales of flavoring syrup and concentrate by entities (organizations, sole traders, and partnerships) that produce flavoring syrup drink concentrates and related products for soda fountain use or for the production of soft drinks. The companies in the flavoring syrup and concentrate industry process raw materials into flavoring syrup and concentrate, package and distribute them through various distribution channels to both individual customers, soft drink producers, and commercial establishments.

The main types of flavoring syrup and concentrate are syrups, molasses, sweet spreads, jam, jellies, preservatives, savory spreads.MOLASSES is a thick dark to a light brown syrup which is extracted from raw sugar during the sugar manufacturing process.

The different flavors include fruit, chocolate, vanilla, coffee, herbs & seasonings, Other Distribution Channels and are used in beverages, dairy & frozen desserts, confectionery, bakery. It is distributed through various channels such as supermarkets/hypermarkets, convenience stores, e-commerce, and Other Distribution Channels.

Asia Pacific was the largest region in the flavoring syrup and concentrate market in 2021.North America was the second-largest region in the flavoring syrup and concentrate market.

The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The flavoring syrup and concentrate manufacturing market growth are aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the flavoring syrup and concentrate manufacturing market during the forecast period.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the flavoring syrup and concentrate manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers.

As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline.

The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the flavoring syrup and concentrate manufacturing market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Syrup and concentrate manufacturers are increasingly offering products made with natural and organic ingredients.Innovative flavored products with enhanced nutritional value and low sugar content are attracting consumers with health consciousness.

For instance, in 2019, Swoon introduced flavoring syrups with zero sugar content that can be consumed by diabetic patients.Similarly, in 2019, Torani, a US-based flavor company launched 16 flavors of pure-made syrups including green apple, peach, pumpkin spice, passion fruit, raspberry, and strawberry.

Canadian Organic Maple Co. Ltd, Hamel Maple Syrup, and Hoover’s Maple Syrup are some of the companies that have introduced organic syrups.

The countries covered in the flavoring syrup and concentrate market are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam.

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