Flavoring Syrup and Concentrate Market Growth Prospects and Outlook 2020-2030 | The Hershey Company, Tate & Lyle, Kerry Group

Global Flavoring Syrup and Concentrate Market, delivering a must-read report for industry stakeholders wanting to understand the strategic landscape of this increasing sector. Readers will find an in-depth analysis of the market and how it will impact existing traditional markets, as well as insights into future development and opportunities across the globe.

The global flavoring syrup and concentrate market is expected to grow from $50 billion in 2019 to $51.1 billion in 2020 at a compound annual growth rate (CAGR) of 2.3%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $61.8 billion in 2023.

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Key Players:

Monin; Sensient Technologies Corporation (NYSE: SXT); Hershey Co (NYSE: HSY); Tate & Lyle; Kerry Group, request sample for a complete list of companies.

The leading players of the industry, their market share, product portfolio, company profiles are covered in this report. The competitive market scenario among players will help the industry aspirants in planning their strategies.

Summary

The Asia Pacific was the largest region in the global flavoring syrup and concentrated market, accounting for 34% of the market in 2019. North America was the second largest region accounting for 27% of the global flavoring syrup and concentrate market. Africa was the smallest region in the global flavoring syrup and concentrated market.

Many manufacturers and producers are increasingly using natural ingredients and have also reduced the use of artificial colors and flavors. Health concerns of consumers are increasing the sales of products with natural ingredients, additives, and coloring agents. For instance, Pizza Hut stopped using artificial flavors and colors in its US stores in 2015.
Food and Beverage manufacturers should look to gain a stronger foothold in the increasingly popular healthy food products segment, either by introducing products with natural additives and coloring agents or by acquiring smaller firms that produce products with natural ingredients.

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 the produce 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.

Markets Covered:

1) By Type: Syrups; Molasses; Sweet Spreads; Jam, Jellies, Preservatives; Savory Spreads
2) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Others
3) By Application: Beverages; Dairy & Frozen Desserts; Confectionery; Bakery
4) By Flavors: Fruit; Chocolate; Vanilla; Coffee; Herbs & Seasonings; Others

Market Segment by Regions:

Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

These segments are thoroughly evaluated on an individual basis and a team of analysts has ensured to give a crystal clear idea about various lucrative segments of the industry. This detailed analysis using segmentation by providing precise results on industry-related markets.

The report also analyzed the evolution of industry trends. Several macroeconomic factors such as Gross domestic product (GDP) and the increasing inflation rate is expected to affect directly or indirectly in the development of the industry.

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Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or 3 countries or nearly 40 analyst hours. 

Note:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.