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Syrup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Syrup Market is segmented by type (Chocolate Syrup, Maple Syrup, High Fructose Corn Syrup, Tapioca Syrup, Honey, Fruit Syrup, and Others); by Distribution Channel (Supermarket and Hypermarket, Convenience Store, Online Retail Stores, and Other Distribution Channels); and by Geography.

Home Industry Reports Food & Beverage Syrup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Snapshot

Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.1 %

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Market Overview

The global syrup market is projected to grow at a CAGR of 4.1% during the forecast period (2020 - 2025).

  • Among all the syrups used such as sugar syrup, malt syrup, maple syrup, fruit syrup, flavored syrup, and other syrups, fruit syrup accounts for the largest share owing to its wide usage in beverages. The market is therefore driven by the demand for new flavors in beverages.
  • Geographically, North America dominates the market, followed by Europe, where syrups are popular in addition to breakfast foods such as pancakes and in confectioneries. Asia-Pacific region shows a promising growth rate in the syrup market, due to growing disposable incomes in the region, increasing urbanization, and the popularity of following western food trends.
  • However, one of the major challenges is the entry of competitors such as spreads that are restraining the market.

Scope of the Report

The global syrup market has been segmented by type into chocolate syrup, maple syrup, high fructose corn syrup, inverted syrup, rice syrup, malt syrup, tapioca syrup, honey, fruit syrup, and others; and by distribution channel into supermarket and hypermarket, convenience store, online retail stores, and other distribution channels. The food market is further bifurcated into bakery & confectionery, dairy, beverages, and others. Geography segmentation includes countries of North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.

By Type
Chocolate syrup
Maple syrup
High fructose corn syrup
Malt syrup
Tapioca syrup
Honey
Fruit syrup
Others
By Distribution Channel
Supermarket and Hypermarket
Convenience Store
Online Retail Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Key Market Trends

Increased demand in breakfast foods

The use of syrups in breakfast foods, especially as toppings is increasing due to the rapidly growing consumer demand. Also, because of the wide range of flavors it offers, its demand has been increasing among the consumers. Additionally, few of the companies such as Canadian Organic Maple Co. Ltd, Hoover's Maple Syrup and Hamel Maple Syrup have been launching the concept of organic syrups as organic foods have been on a rising trend, that is also attracting the health-conscious consumers.

Syrup Market1

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North America to the drive the market

North America dominates the market for syrups of all kinds, with the United States and Canada making up the largest market share in the continent. This is due to the high rate of production, consumption in the region and export of syrups throughout the world. Also, expansion of the leading companies paired with frequent product launches in the region has further fueled the market sales.

Syrup Market2

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Competitive Landscape

The syrup market is highly competitive in nature having a large number of domestic and multinational players competing for market share and with innovation in products being a major strategic approach adopted by leading players. Additionally, merger, expansion, acquisition, and partnership with other companies are the common strategies to enhance the company presence and boost the market. For instance, Ingredion Incorporated launched a line of low-sugar glucose syrup- VERSASWEET™ to aid in sugar reduction in the manufacturing of confectionery, dairy, ice cream, and baked good products in November 2017. Also, Sonoma Syrup Co. launched peppermint simple syrup in January 2018.

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Chocolate syrup

      2. 5.1.2 Maple syrup

      3. 5.1.3 High fructose corn syrup

      4. 5.1.4 Malt syrup

      5. 5.1.5 Tapioca syrup

      6. 5.1.6 Honey

      7. 5.1.7 Fruit syrup

      8. 5.1.8 Others

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket and Hypermarket

      2. 5.2.2 Convenience Store

      3. 5.2.3 Online Retail Stores

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Conagra Foodservice, Inc.

      2. 6.4.2 The Hershey Company

      3. 6.4.3 H.J. Heinz Company Brands LLC

      4. 6.4.4 Sonoma Syrup Co.

      5. 6.4.5 The Quaker Oats Company

      6. 6.4.6 Nature's Way Products, LLC.

      7. 6.4.7 PT Nutrifood Indonesia

      8. 6.4.8 Cedarvale Maple Syrup Company

      9. 6.4.9 Amoretti

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Syrup Market market is studied from 2016 - 2026.

The Syrup Market is growing at a CAGR of 4.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Conagra Foodservice, Inc., The Hershey Company, H.J. Heinz Company Brands LLC, Sonoma Syrup Co., The Quaker Oats Company are the major companies operating in Syrup Market.

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