Market Trends of Non-alcoholic Concentrated Syrup Industry
This section covers the major market trends shaping the Non-Alcoholic Concentrated Syrup Market according to our research experts:
Rising Demand for Fruit-based Drinks
The demand for fruit-based drinks has witnessed a steady growth, owing to the rising importance of leading a healthy lifestyle. Also, changing lifestyles and altered eating patterns of the consumers have resulted in an increased intake of affordable, healthy, and quick sources of nutrition, like fruit-based drinks, thereby catalyzing the growth of the market. Moreover, with the auxiliary demand from the beverage industry, due to the increased consumption of convenience products, including on-the-go beverages, and the rising demand for natural foods, along with health and nutritional concerns with respect to processed products, the RTE fruit-based drinks market is estimated to experience a significant hike in the forecast period.
Asia-Pacific is the Fastest Growing Market
Asia-Pacific is the fastest-growing market for non-alcoholic concentrated syrup, where countries, such as China, Indonesia, and India, account for the largest share. The regional market has potential growth opportunities for new segments, such as convenience food, as the developing countries in the region are adopting western culture and lifestyle. Moreover, increasing consumer disposable income levels will contribute to the demand. Also, with the increasing internet penetration, the online market for the purchase of food items, including non-alcoholic concentrated syrups, has experienced rapid growth, globally, in the last three to four years. This category has attracted a few vertical specialists, like Amazon, Walmart, and Carrefour, who are riding on the increasing e-retailing growth and vying for a significant share in the online non-alcoholic concentrated syrup market.
