The latest market report published
by Credence Research, Inc. “Flavored Syrups Market, By Type, Application
and Region – Growth, Future Prospects, and Competitive Analysis, 2016 –
2024,” the flavored syrups market was valued at US$ 40.0 Bn in 2015,
and is expected to reach US$ 61.1 Bn by 2024, expanding at a CAGR of 4.8% from
2016 to 2024.
Browse the full report at http://www.credenceresearch.com/report/flavored-syrups-market
Market Insights
Flavored syrup comprises of a syrup
that is sugar coated with artificial or natural flavorings and is utilized and
mixed with carbonated water, pancakes, ice cream, tea, coffee, and others. The
consumers’ preferences for wide variety of personalized flavors in food has
strengthened the flavored syrup producers to produce different range of
flavored syrups. The application of flavored syrups as sweetener and taste
enhancer is showcasing its prominence in production of frozen and dairy
products. The demand for syrups is anticipated to expand over the next few
years it is an organic product and is widely available in range of low calorie
formulations. Flavored syrup’s core activities in beverage and food industry
comprises of production of soft drink concentrates and beverage syrups in
different flavors. Besides sweet flavored syrup, savory based flavored syrups
are also increasing its significance as it is utilized in meat recipes, salad
dressings, production of bakery and confectionery based products.
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Increasing variety of flavors in
food products is expected to impel the growth of flavored syrups market over
the forecast period. Apart from this, rising consumer preferences towards
convenience foods and as well as ready to eat products are anticipated to impel
the growth of flavored syrups market over the forecast period. The popularity
of syrups in beverage production as an additives in yogurts and frozen desserts
is also likely to foster the growth of flavored syrups market in the next few
years till 2024.
Considering the competition, this
market is characterized by presence of various players some of which are
small-scale players and some are the largest in number. In order to enhance
their presence in the overall global market, the companies are focusing on
research and development as well as new product development. The companies are
entering into manufacturing of innovative products which will help in
strengthening the growth of the market.
Browse the full report at http://www.credenceresearch.com/report/flavored-syrups-market
Key Trends:
New product development
Rising demand chocolate flavor in
bakery industry
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