Global Syrups Market - Segmented by Application and Geography - Trends, Growth and Forecasts 2017 - 2022

  • ID: 4387623
  • Report
  • Region: Global
  • 169 pages
  • Mordor Intelligence
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The global syrup market is expected to reach USD XX billion by 2021 from USD XX billion in 2016, witnessing a CAGR of XX% during the forecasted period. There is growing demand for syrups as a sweetening agent in the food and beverage industry, due to high consumption of processed food and abundant craving for items that are high in sugar content. Moreover, with growing number of women in the workplace and busy lifestyles, there is little time for preparing complex meals for breakfast. For this reason, consumers opt for syrups to add flavor to bland easy-to-make or ready to eat breakfast items. The increasing consumer demand for syrups as topping in breakfast foods, is another important factor that drives the syrup market.

The diabetic epidemic is a major heath concern throughout the world and number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014, rising from 4.7% in 1980 to 8.5% in 2014. This condition has been on the rise in middle income households, who are the major consumers of syrups. Moreover, excess sugar consumption is related to metabolic dysfunction, liver damage, and obesity, which are driving the health conscious consumers away from sugary syrups. Another restraining factor is the competition from sweet spreads and non-traditional sweet toppings, such as jams, preserves and chocolate spreads, which are taking up a major share of the breakfast spread market and offering stiff competition to the syrups. Opportunities can be seen in the form of manufacturers' focus on promoting health attributes of certain syrups, such as maple and rice syrups, which are high in manganese, riboflavin, zinc and calcium. The introduction of organic syrups with natural ingredients and minimal processing is also on the rise, taking into consideration the healthy food trends. Introduction of savory flavors for consumers suffering from diabetes and those who prefer unsweetened syrups, also provides an opportunity to the market.

The market is segmented by type into - chocolate syrup, maple syrup, simple syrup, high fructose corn syrup, inverted sugar syrup, rice syrup, golden syrup, malt syrup, palm syrup, fruit syrups, and others. Fruit syrups are further segmented into - grape syrup, apple syrup, pear syrup, pineapple syrup, and others. Fruit syrups make up the largest global market share due to their wide usage in beverages such as soft drinks, followed by maple syrup with its widespread usage in the North American region. Chocolate syrup has the highest CAGR due to growing consumer interest in chocolate as a topping. The product can further be segmented by application into - beverages, confectioneries, topping, dairy, and others. Beverages account for the major application segment with soft drinks having the largest share.

The market is geographically segmented into - North America, Europe, Asia-Pacific, Africa and South America. North America is the main 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 and consumption of syrups in the region, which also allows for export of maple syrup (a specialty of the North American region), throughout the world. The European market comes in next with syrups being a very popular addition to breakfast food such as pancakes and as toppings in various food items from confections to savories. Asia-Pacific region shows a promising growth rate for syrups, due to growing disposable incomes in the region, increasing urbanization, and the popularity of following western food trends.

Major Companies in the Sector Include:;

In order to gain market share, these companies are adapting numerous strategies like innovative product development, partnerships, mergers & acquisitions, and expansion of existing facilities.

Key Deliverables:

Market analysis for the global syrups market, with region specific assessments and competition analysis on global and regional scale

Market definition along with the identification of key drivers and restraints

Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale

Extensively researched competitive landscape section with profiles of major companies along with their market share

Identification and analysis of the macro and micro factors that affect the global syrups market on both global and regional scales

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market

Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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1. Introduction
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.1 Introduction
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. Key Findings
4. Market Overview
4.1 Drivers
4.1.1 High demand as a topping in breakfast foods
4.1.2 Increasing consumption of convience and ready to eat foods
4.1.3 Use as a sweetening agent
4.2 Restraints
4.2.1 High sugar content present in syrups
4.2.2 Competition from sweet spreads and non-traditional sweet toppings
4.2.3 Healthy eating trends decreasing the consumption of syrups
4.3 Opportunities
4.3.1 Introduction of organic syrups
4.3.2 Introduction of savory flavors
4.3.3 Manufacturers' focus on promoting health attributes of syrups
4.4 Porter Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Type
5.1.1 Chocolate syrup
5.1.2 Maple syrup
5.1.3 Fruit syrup
5.1.3.1 Grape
5.1.3.2 Apple
5.1.3.3 Pear
5.1.3.4 Pineapple
5.1.3.5 Others
5.1.4 Simple syrup
5.1.5 High fructose Corn Syrup
5.1.6 Inverted sugar syrup
5.1.7 Rice syrup
5.1.8 Golden syrup
5.1.9 Malt Syrup
5.1.10 Palm Syrup
5.1.11 Others
5.2 By Application
5.2.1 Beverages
5.2.1.1 Soda
5.2.1.2 Alcohol
5.2.1.3 Flavored drinks
5.2.1.4 Others
5.2.2 Confectioneries
5.2.3 Topping
5.2.4 Dairy
5.2.5 Others
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Others
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Germany
5.3.2.5 Russia
5.3.2.6 Italy
5.3.2.7 Others
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Others
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Others
5.3.5 Africa
5.3.5.1 South Africa
5.3.5.2 Others
6. Competitive Landscape
6.1 Mergers & Acquisitions
6.2 Joint Ventures
6.3 New Product Launches
6.4 Most active companies in the past five years
6.5 Market Share Analysis
7. Company Profiles
7.1 Hershey
7.2 The Kraft Heinz Company
7.3 Sonoma Syrup
7.4 Aunt Jemima
7.5 Nature Way
7.6 Tropicana
7.7 ConAgra Foods Inc.
7.8 Cedarvale Maple Syrup
7.9 Monin
7.10 Fox
7.11 Amoretti Premium
7.12 DaVinci Gourmet
7.13 Log Cabin
7.14 Mrs. Butterworth
8. Appendix
8.1 Disclaimer
8.2 Sources
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