The global flavored syrup products market was valued at USD 11.1 billion in 2022 and is projected to expand at a CAGR of 7.2% from 2023 to 2030. Growing demand for flavored syrups in food and beverage products is the major factor driving the growth of the market. Increasing awareness regarding the health benefits associated with flavored syrup products has further boosted their demand. For instance, flavored syrup products are rich in antioxidants, which helps in strengthening the immune system, as well as in reducing cholesterol and improving eye health.

The growing popularity of flavored syrups as an ingredient in a variety of food products such as cakes, ice creams, and pastries is expected to boost the demand for flavored syrup products. Furthermore, the growing demand for flavored syrups from the beverage industry has increased the demand for flavored syrup products. The growing demand for ready-to-drink beverages has led to an increase in the demand for flavored syrup products for beverage preparation. Moreover, the rising trend of natural and organic flavored syrup products has further bolstered its demand.

In addition, the increasing number of flavored syrup product launches by key players is expected to further propel the market growth. For example, in August 2021, Monin Inc. introduced a new range of flavored syrups, dubbed “Monin Premium Natural Syrups”, to cater to the growing demand from customers. These syrups are made from all-natural ingredients and do not contain any artificial sweeteners or preservatives. Moreover, the rise in the trend of premiumization in demand for flavored syrup products has led to the high price of natural flavored syrup products.

Furthermore, the increasing number of campaigns and events focused on the awareness of flavored syrup products is expected to further support the growth of the market. For instance, in January 2021, The International Flavored Syrup Association (IFSA) launched a promotional campaign to increase awareness about flavored syrup products. The campaign aimed to educate consumers about the health benefits associated with flavored syrup products.

In addition, the increasing number of innovative brand launches to cater to the growing product demand from customers is expected to further support the growth of the market. For instance, in April 2021, Monin Inc. launched a new range of flavored syrups, called “Monin Gourmet Syrups”, with a variety of new flavors and blends that are tailored to meet the needs of customers. The availability of a wide variety of flavored syrup products online is accelerating the demand. The e-commerce platform further provides various offers on these products, which is boosting online sales.

The caramel syrup segment led the market and accounted for a share of around 24.7% in 2022. The rising demand of flavored syrup products, especially caramel syrup, is primarily attributed to its wide range of applications in various food products. Caramel syrup is used as an ingredient in several food items such as cakes, ice-creams, coffee, and others. Furthermore, the increasing demand for premium-quality products, along with the rising demand for convenience food products and beverages, are expected to propel the growth of the flavored syrup products market in the coming few years.

The cocoa and chocolate syrup segment is anticipated to expand at the fastest CAGR of 8.6% over the forecast period. The growing demand for cocoa and chocolate syrup products is attributed to its wide range of applications in various food products, especially desserts and confectioneries. In addition, rising demand for cocoa and chocolate syrup from commercial and industrial sectors is expected to drive the market. Furthermore, the growing demand for flavored syrups from the beverage industry is expected to propel the growth of the flavored syrup products market in the coming years.

The supermarkets and hypermarkets segment accounted for the majority of the market share in 2022, owing to the wide availability of flavored syrup products in these stores. Supermarkets and hypermarkets offer a wide range of flavored syrup products from multiple brands, along with other products such as snacks and beverages. Additionally, the availability of fresh and frozen flavored syrup products makes them a preferred choice for consumers.

The internet retailing segment is expected to register the highest CAGR of 11.4% over the forecast period. This can be attributed to the growing popularity of online shopping portals, such as Amazon and Flipkart, offering a wide range of flavored syrup products. The availability of discounts and offers on online purchases is also driving the growth of the segment. Furthermore, with the increasing penetration of smartphones and the internet, the segment is expected to witness significant growth in the coming years.

The flavored syrups market is segmented on the basis of type into fruit syrups, chocolate syrups, and others. The fruit syrups segment accounted for the largest revenue share of 61.7% in the year 2022. The increasing demand for natural products and the rising trend of consuming flavored syrups as a healthy alternative are some of the key factors driving the growth of the segment. Furthermore, the easy availability of different flavors of fruit syrups at retail outlets and the increasing demand for health-promoting benefits of these products are some of the other factors driving the segment’s growth.

The chocolate syrups segment is expected to expand at the highest CAGR of 8.6% over the forecast period. The increasing demand for chocolate syrups among consumers due to their unique flavor and taste is likely to boost the market during the forecast period. Also, the growing popularity of chocolate-flavored syrups among consumers due to the plethora of health benefits they offer is expected to drive the segment’s growth. Additionally, the increasing demand for flavored syrups as ingredients in food and beverages is likely to propel the segment’s growth in the coming years.

North America is expected to remain the largest market, accounting for the largest share of 40.4% in 2022. The region is witnessing a significant rise in the consumption of flavored syrups in various food and beverage products due to the growing demand from consumers for natural and healthy products. Furthermore, the growing demand for flavored syrups from the bakery industry is also contributing to the growth of the market in the region. For instance, in June 2021, The Confectionery House launched a range of gourmet flavored syrups in the U.S.

Asia Pacific is expected to witness the fastest growth over the forecast period. An increase in demand for flavored syrups from the beverage industry is expected to drive the growth of the market in the region. Furthermore, increasing awareness regarding the health benefits associated with flavored syrups and the availability of a wide range of flavors are also major growth drivers in the region. For instance, in January 2021, The Golden Maple launched a range of flavored syrups in India.

In this part of the flavored syrup products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your flavored syrup products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a flavored syrup products business comes from sales of flavored syrups and related products. Here you will find a list with a description of the different types of flavored syrups that you can offer and other possible sources of profit such as fundraising, the sale of merchandise, and leasing the place for parties and corporate events.

Projecting Expenses
In this section, all the regular expenses related to keeping the flavored syrup products business running will be described. The list of operating expenses includes ingredients and supplies, wages, shipping and handling, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the flavored syrup market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In October 2022, Kraft Heinz launched the new line of flavored syrups called “Purely Simple” which contains no artificial colors, flavors, or preservatives.

– In August 2022, Monin launched a new line of flavored syrups dubbed “Organic Originals” which are made with USDA organic certified ingredients.

– In July 2022, Torani launched a new line of flavored syrups called “Real Fruit Syrups” which are made with real fruit juice.

Some of the prominent players in the flavored syrup market include:

– Kraft Heinz
– Monin
– Torani
– DaVinci Gourmet
– Ghirardelli Chocolate Company
– Jordan’s Skinny Syrups
– Starbucks Corporation
– DaVinci Fine Foods
– Monin Gourmet Flavorings
– The Hershey Company

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global flavored syrup products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Chocolate
– Caramel
– Fruits & Berries
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Major Drivers for the Flavored Syrup Products Market?
[A]: The flavored syrup products market is driven by factors such as increasing demand for convenience and flavored food products, the growing demand for natural and healthy ingredients, changing lifestyle, and increasing disposable income. Additionally, the rise in the number of health-conscious consumers is driving the growth of the flavored syrup products market.

[Q]: What are the Key Players in the Flavored Syrup Products Market?
[A]: Key players in the flavored syrup products market include Mondelez International, Inc., Hershey Company, Mars Inc., Ferrero Group, The Coca-Cola Company, Nestle SA, Dr Pepper Snapple Group, Inc., PepsiCo, Inc., and The J.M. Smucker Company.

[Q]: What are the Major Regional Opportunities for Flavored Syrup Products?
[A]: North America is expected to be the major regional opportunity for flavored syrup products, followed by Europe, Asia Pacific, and the Rest of the World. The rising consumption of flavored syrup products in the U.S. and Canada is driving the growth of the flavored syrup products market in North America.

[Q]: What are the Key Trends in Flavored Syrup Products?
[A]: The key trends in flavored syrup products include the introduction of natural and organic ingredients, the growing popularity of low-calorie and sugar-free products, the rise of the clean label trend, and the use of flavor enhancers and flavor concentrates to create unique flavor profiles.