The size of the Europe Flavoured Syrups Market is expected to be worth USD 13.76 billion in 2024 and grow at a CAGR of 3.20% from 2024 to 2029 to achieve USD 16.10 billion by 2029.
The syrup industry’s main activities consist of the manufacture of beverage syrups, toppings, and powders which are further used in soft drink production. The arrival of new drink products will aid in altering the predilection of customers, thereby shifting the growth of the syrup market.
There is a rising demand for syrups as a sweetening agent in the food and beverage industry, due to the huge ingestion of processed foodstuff and a profuse yearning for items that have high sugar levels.
The growth of the Europe Europe-flavoured syrups market is majorly driven by factors such as growing consumer demand for a range of flavours in food products, custom-made flavour choices, and increasing user predilection towards convenience & ready-to-eat foods. One of the major limiting factors for the market is the competition from sweet spreads and non-traditional sweet frostings, such as jams, preserves and chocolate spreads, which are grabbing up a big part of the breakfast spread market and posing firm competition to the syrups.
Fruit syrups lead the market share owing to their extensive usage in beverages such as soft drinks, trailed by maple syrup. Chocolate syrup has the highest CAGR due to rising user interest in chocolate as a topping. The growth can be ascribed to its industrial use in bakery products, making chocolate-flavoured dairy drinks, frozen desserts, ice creams, chocolate confectionery, and chocolate-flavoured beverages. Under the applications segment, Dairy & frozen desserts have the highest CAGR because of their use in milkshakes, frappes, flavoured milk, whipped creams, and others.
In this region, Syrups are a very popular addition to breakfast food such as pancakes and toppings in several food items from confections to savouries. Also, the rising level of customer demand for chocolate has enhanced the intake of chocolate flavours and their usage in a varied range of food products as chocolate syrups are broadly favoured by customers in milkshakes, cold beverages, and as a topping on ice creams, pancakes, waffles, and cakes.
Major Key Players in the Europe-flavoured syrups market are Hershey, Tate & Lyle, Kraft Heinz Company, Monin Inc, Kerry Group Plc, Sonoma Syrup, Cedarvale Maple Syrup, and Sensient Technologies Corporation.
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