The Global Chocolate Syrup Market size is expected to reach $11.1 billion by 2028, rising at a market growth of 4.0% CAGR during the forecast period.
Chocolate syrup is a sweet condiment prepared from concentrated chocolate solution. The syrup is used extensively in a number of food products as a topping, dressing, or sauce. Chocolate syrup is also used in preparing a number of drinks like chocolate milk, milkshakes, and smoothies. It is produced and sold in differing consistencies.
Based on the use, the chocolate syrup can be sold in thin consistencies that can be drizzled and thick sauces that can be spooned. Chocolate syrup is also used to top cakes and puddings. Such syrup is marketed as chocolate milk syrup or ice cream sundae toppings. Public eateries like restaurants, cafes, and bakeries use chocolate syrup by drizzling to showcase artistic details.
More creative designs are created using chocolate shavings, powdered sugar, or cocoa powder with chocolate syrup. Essentially, chocolate syrup is made from unsweetened cocoa powder, water, and a sweetener. Other syrups like malt or corn syrup can sometimes substitute sweeteners and water. When explicitly prepared for any recipe, flavor enhancers such as vanilla extract can also be found as a constituent in many chocolate syrups.
Since industries are always cost-aware, many industrial recipes include additional ingredients like high fructose corn syrup, salt, potassium sorbate, polysorbate, xanthan gum, and mono and diglycerides. These ingredients help in giving the syrup the desired taste, color, texture, and flow.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A., The Hershey Company (Hershey Trust Company), The Kroger Co., The J.M Smucker Company, R. Torre & Co. (Torani), Bosco Products, Inc., Hollander Chocolate, Inc., Walden Farms, LLC (PANOS Brands), Noushig, Inc. (Amoretti), and Gold Pure Food Products Co., Inc.
Chocolate syrup is a sweet condiment prepared from concentrated chocolate solution. The syrup is used extensively in a number of food products as a topping, dressing, or sauce. Chocolate syrup is also used in preparing a number of drinks like chocolate milk, milkshakes, and smoothies. It is produced and sold in differing consistencies.
Based on the use, the chocolate syrup can be sold in thin consistencies that can be drizzled and thick sauces that can be spooned. Chocolate syrup is also used to top cakes and puddings. Such syrup is marketed as chocolate milk syrup or ice cream sundae toppings. Public eateries like restaurants, cafes, and bakeries use chocolate syrup by drizzling to showcase artistic details.
More creative designs are created using chocolate shavings, powdered sugar, or cocoa powder with chocolate syrup. Essentially, chocolate syrup is made from unsweetened cocoa powder, water, and a sweetener. Other syrups like malt or corn syrup can sometimes substitute sweeteners and water. When explicitly prepared for any recipe, flavor enhancers such as vanilla extract can also be found as a constituent in many chocolate syrups.
Since industries are always cost-aware, many industrial recipes include additional ingredients like high fructose corn syrup, salt, potassium sorbate, polysorbate, xanthan gum, and mono and diglycerides. These ingredients help in giving the syrup the desired taste, color, texture, and flow.
COVID-19 Impact Analysis
The changing consumer eating patterns and busy lifestyles have propelled the emergence of packaged and ready-to-eat foods, a large proportion of which include frozen desserts utilizing chocolate syrup. This increased the demand for chocolate syrup in the B2C categories. However, the closure of public places and lockdown regulations affected eateries like restaurants, cafes, and bake, which adversely affected the B2B sector. But, when the overall performance was observed, the pandemic positively affected the chocolate syrup market.Market Growth Factors
Improvement Of Chocolate Syrup Products By Major Companies
The rising need to develop quality products that render a health benefit as well has become a necessity of the present times for consumers. This implies that the quantity of a product is overlooked when health benefits are more. As a result, manufacturers are incorporating better methods that offer better variants of the existing chocolate syrup options. For example, they are unveiling better products with mineral fortification, which increases the overall nutrition ratio of syrup. Hence, these factors are anticipated to propel the growth of the overall chocolate syrup market during the forecasting period.Increasing Demand For Chocolate Syrup During The Festive Season
Chocolate syrup is primarily consumed and connected with seasonal festivities throughout the world, like the consumption of hot chocolate during December in many western countries. Consequently, it has become a favorite sweet drink and dessert accompaniment during the festive season. This has also propelled innovation of the product as consumers demand more inventive chocolate syrup flavors. Seasonal launches are already a peculiar trend in developed countries, but they have also gained momentum in developing economies. This factor is augmenting the growth of the chocolate syrup market.Market Restraining Factor
High Competition From Other Chocolate-Based Products
Chocolate can be regarded as one of the most prominent ingredients in the food and food service industry. For every drink and food that exists, a chocolate variant of it exists as well. Luxury chocolates, dark chocolates, chocolates with regional-specific ingredients, chocolates with liquor, and craft chocolates are some common examples that nullify the benefits of chocolate syrup and increase market competition altogether. As a result, numerous chocolate product brands are now competing. Therefore, high competition is playing an important role in disrupting the growth of the chocolate syrup market.Type Outlook
Based on type, the chocolate syrup market is categorized into conventional and organic. The conventional segment garnered the highest revenue share in the chocolate syrup market in 2021. The rise of ready-to-eat (RTD) and ready-to-consume (RTC) food products was responsible for the growth of the segment. In addition, chocolate syrup is extensively used with nuts, and dry fruits as its flavorful taste enhance their flavor as well.
Distribution Channel Outlook
On the basis of distribution channel, the chocolate syrup market is divided into B2C and B2B. The B2B segment recorded a significant revenue share in the chocolate syrup market in 2021. Places like cafes, cake shops, bakeries, restaurants, food service outlets, and other eateries buy chocolate syrup in bulk directly from the manufacturer. This helps these places to manage their inventories in a financially optimal way.Regional Outlook
Based on region, the chocolate syrup market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment garnered the maximum revenue share in the chocolate syrup market in 2021. Due to growing urbanization and western influence, the food service industry in this region has been widening to encompass cafes, continental restaurants, and fine dining. All of this helps in the expansion of the increased use of chocolate syrup.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A., The Hershey Company (Hershey Trust Company), The Kroger Co., The J.M Smucker Company, R. Torre & Co. (Torani), Bosco Products, Inc., Hollander Chocolate, Inc., Walden Farms, LLC (PANOS Brands), Noushig, Inc. (Amoretti), and Gold Pure Food Products Co., Inc.
Scope of the Study
By Type
- Conventional
- Organic
By Distribution Channel
- B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online
- B2B
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Nestle S.A.
- The Hershey Company (Hershey Trust Company)
- The Kroger Co.
- The J.M Smucker Company
- R. Torre & Co. (Torani)
- Bosco Products, Inc.
- Hollander Chocolate, Inc.
- Walden Farms, LLC (PANOS Brands)
- Noushig, Inc. (Amoretti)
- Gold Pure Food Products Co., Inc.
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- The highest number of market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Chocolate Syrup Market, by Type
1.4.2 Global Chocolate Syrup Market, by Distribution Channel
1.4.3 Global Chocolate Syrup Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Chocolate Syrup Market by Type
3.1 Global Conventional Market by Region
3.2 Global Organic Market by Region
Chapter 4. Global Chocolate Syrup Market by Distribution Channel
4.1 Global B2C Market by Region
4.2 Global Chocolate Syrup Market by B2C Type
4.2.1 Global Hypermarkets/Supermarkets Market by Region
4.2.2 Global Convenience Stores Market by Region
4.2.3 Global Specialty Stores Market by Region
4.2.4 Global Online Market by Region
4.3 Global B2B Market by Region
Chapter 5. Global Chocolate Syrup Market by Region
5.1 North America Chocolate Syrup Market
5.1.1 North America Chocolate Syrup Market by Type
5.1.1.1 North America Conventional Market by Country
5.1.1.2 North America Organic Market by Country
5.1.2 North America Chocolate Syrup Market by Distribution Channel
5.1.2.1 North America B2C Market by Country
5.1.2.2 North America Chocolate Syrup Market by B2C Type
5.1.2.2.1 North America Hypermarkets/Supermarkets Market by Country
5.1.2.2.2 North America Convenience Stores Market by Country
5.1.2.2.3 North America Specialty Stores Market by Country
5.1.2.2.4 North America Online Market by Country
5.1.2.3 North America B2B Market by Country
5.1.3 North America Chocolate Syrup Market by Country
5.1.3.1 US Chocolate Syrup Market
5.1.3.1.1 US Chocolate Syrup Market by Type
5.1.3.1.2 US Chocolate Syrup Market by Distribution Channel
5.1.3.1.2.1 US Chocolate Syrup Market by B2C Type
5.1.3.2 Canada Chocolate Syrup Market
5.1.3.2.1 Canada Chocolate Syrup Market by Type
5.1.3.2.2 Canada Chocolate Syrup Market by Distribution Channel
5.1.3.2.2.1 Canada Chocolate Syrup Market by B2C Type
5.1.3.3 Mexico Chocolate Syrup Market
5.1.3.3.1 Mexico Chocolate Syrup Market by Type
5.1.3.3.2 Mexico Chocolate Syrup Market by Distribution Channel
5.1.3.3.2.1 Mexico Chocolate Syrup Market by B2C Type
5.1.3.4 Rest of North America Chocolate Syrup Market
5.1.3.4.1 Rest of North America Chocolate Syrup Market by Type
5.1.3.4.2 Rest of North America Chocolate Syrup Market by Distribution Channel
5.1.3.4.2.1 Rest of North America Chocolate Syrup Market by B2C Type
5.2 Europe Chocolate Syrup Market
5.2.1 Europe Chocolate Syrup Market by Type
5.2.1.1 Europe Conventional Market by Country
5.2.1.2 Europe Organic Market by Country
5.2.2 Europe Chocolate Syrup Market by Distribution Channel
5.2.2.1 Europe B2C Market by Country
5.2.2.2 Europe Chocolate Syrup Market by B2C Type
5.2.2.2.1 Europe Hypermarkets/Supermarkets Market by Country
5.2.2.2.2 Europe Convenience Stores Market by Country
5.2.2.2.3 Europe Specialty Stores Market by Country
5.2.2.2.4 Europe Online Market by Country
5.2.2.3 Europe B2B Market by Country
5.2.3 Europe Chocolate Syrup Market by Country
5.2.3.1 Germany Chocolate Syrup Market
5.2.3.1.1 Germany Chocolate Syrup Market by Type
5.2.3.1.2 Germany Chocolate Syrup Market by Distribution Channel
5.2.3.1.2.1 Germany Chocolate Syrup Market by B2C Type
5.2.3.2 UK Chocolate Syrup Market
5.2.3.2.1 UK Chocolate Syrup Market by Type
5.2.3.2.2 UK Chocolate Syrup Market by Distribution Channel
5.2.3.2.2.1 UK Chocolate Syrup Market by B2C Type
5.2.3.3 France Chocolate Syrup Market
5.2.3.3.1 France Chocolate Syrup Market by Type
5.2.3.3.2 France Chocolate Syrup Market by Distribution Channel
5.2.3.3.2.1 France Chocolate Syrup Market by B2C Type
5.2.3.4 Russia Chocolate Syrup Market
5.2.3.4.1 Russia Chocolate Syrup Market by Type
5.2.3.4.2 Russia Chocolate Syrup Market by Distribution Channel
5.2.3.4.2.1 Russia Chocolate Syrup Market by B2C Type
5.2.3.5 Spain Chocolate Syrup Market
5.2.3.5.1 Spain Chocolate Syrup Market by Type
5.2.3.5.2 Spain Chocolate Syrup Market by Distribution Channel
5.2.3.5.2.1 Spain Chocolate Syrup Market by B2C Type
5.2.3.6 Italy Chocolate Syrup Market
5.2.3.6.1 Italy Chocolate Syrup Market by Type
5.2.3.6.2 Italy Chocolate Syrup Market by Distribution Channel
5.2.3.6.2.1 Italy Chocolate Syrup Market by B2C Type
5.2.3.7 Rest of Europe Chocolate Syrup Market
5.2.3.7.1 Rest of Europe Chocolate Syrup Market by Type
5.2.3.7.2 Rest of Europe Chocolate Syrup Market by Distribution Channel
5.2.3.7.2.1 Rest of Europe Chocolate Syrup Market by B2C Type
5.3 Asia Pacific Chocolate Syrup Market
5.3.1 Asia Pacific Chocolate Syrup Market by Type
5.3.1.1 Asia Pacific Conventional Market by Country
5.3.1.2 Asia Pacific Organic Market by Country
5.3.2 Asia Pacific Chocolate Syrup Market by Distribution Channel
5.3.2.1 Asia Pacific B2C Market by Country
5.3.2.2 Asia Pacific Chocolate Syrup Market by B2C Type
5.3.2.2.1 Asia Pacific Hypermarkets/Supermarkets Market by Country
5.3.2.2.2 Asia Pacific Convenience Stores Market by Country
5.3.2.2.3 Asia Pacific Specialty Stores Market by Country
5.3.2.2.4 Asia Pacific Online Market by Country
5.3.2.3 Asia Pacific B2B Market by Country
5.3.3 Asia Pacific Chocolate Syrup Market by Country
5.3.3.1 China Chocolate Syrup Market
5.3.3.1.1 China Chocolate Syrup Market by Type
5.3.3.1.2 China Chocolate Syrup Market by Distribution Channel
5.3.3.1.2.1 China Chocolate Syrup Market by B2C Type
5.3.3.2 Japan Chocolate Syrup Market
5.3.3.2.1 Japan Chocolate Syrup Market by Type
5.3.3.2.2 Japan Chocolate Syrup Market by Distribution Channel
5.3.3.2.2.1 Japan Chocolate Syrup Market by B2C Type
5.3.3.3 India Chocolate Syrup Market
5.3.3.3.1 India Chocolate Syrup Market by Type
5.3.3.3.2 India Chocolate Syrup Market by Distribution Channel
5.3.3.3.2.1 India Chocolate Syrup Market by B2C Type
5.3.3.4 South Korea Chocolate Syrup Market
5.3.3.4.1 South Korea Chocolate Syrup Market by Type
5.3.3.4.2 South Korea Chocolate Syrup Market by Distribution Channel
5.3.3.4.2.1 South Korea Chocolate Syrup Market by B2C Type
5.3.3.5 Singapore Chocolate Syrup Market
5.3.3.5.1 Singapore Chocolate Syrup Market by Type
5.3.3.5.2 Singapore Chocolate Syrup Market by Distribution Channel
5.3.3.5.2.1 Singapore Chocolate Syrup Market by B2C Type
5.3.3.6 Malaysia Chocolate Syrup Market
5.3.3.6.1 Malaysia Chocolate Syrup Market by Type
5.3.3.6.2 Malaysia Chocolate Syrup Market by Distribution Channel
5.3.3.6.2.1 Malaysia Chocolate Syrup Market by B2C Type
5.3.3.7 Rest of Asia Pacific Chocolate Syrup Market
5.3.3.7.1 Rest of Asia Pacific Chocolate Syrup Market by Type
5.3.3.7.2 Rest of Asia Pacific Chocolate Syrup Market by Distribution Channel
5.3.3.7.2.1 Rest of Asia Pacific Chocolate Syrup Market by B2C Type
5.4 LAMEA Chocolate Syrup Market
5.4.1 LAMEA Chocolate Syrup Market by Type
5.4.1.1 LAMEA Conventional Market by Country
5.4.1.2 LAMEA Organic Market by Country
5.4.2 LAMEA Chocolate Syrup Market by Distribution Channel
5.4.2.1 LAMEA B2C Market by Country
5.4.2.2 LAMEA Chocolate Syrup Market by B2C Type
5.4.2.2.1 LAMEA Hypermarkets/Supermarkets Market by Country
5.4.2.2.2 LAMEA Convenience Stores Market by Country
5.4.2.2.3 LAMEA Specialty Stores Market by Country
5.4.2.2.4 LAMEA Online Market by Country
5.4.2.3 LAMEA B2B Market by Country
5.4.3 LAMEA Chocolate Syrup Market by Country
5.4.3.1 Brazil Chocolate Syrup Market
5.4.3.1.1 Brazil Chocolate Syrup Market by Type
5.4.3.1.2 Brazil Chocolate Syrup Market by Distribution Channel
5.4.3.1.2.1 Brazil Chocolate Syrup Market by B2C Type
5.4.3.2 Argentina Chocolate Syrup Market
5.4.3.2.1 Argentina Chocolate Syrup Market by Type
5.4.3.2.2 Argentina Chocolate Syrup Market by Distribution Channel
5.4.3.2.2.1 Argentina Chocolate Syrup Market by B2C Type
5.4.3.3 UAE Chocolate Syrup Market
5.4.3.3.1 UAE Chocolate Syrup Market by Type
5.4.3.3.2 UAE Chocolate Syrup Market by Distribution Channel
5.4.3.3.2.1 UAE Chocolate Syrup Market by B2C Type
5.4.3.4 Saudi Arabia Chocolate Syrup Market
5.4.3.4.1 Saudi Arabia Chocolate Syrup Market by Type
5.4.3.4.2 Saudi Arabia Chocolate Syrup Market by Distribution Channel
5.4.3.4.2.1 Saudi Arabia Chocolate Syrup Market by B2C Type
5.4.3.5 South Africa Chocolate Syrup Market
5.4.3.5.1 South Africa Chocolate Syrup Market by Type
5.4.3.5.2 South Africa Chocolate Syrup Market by Distribution Channel
5.4.3.5.2.1 South Africa Chocolate Syrup Market by B2C Type
5.4.3.6 Nigeria Chocolate Syrup Market
5.4.3.6.1 Nigeria Chocolate Syrup Market by Type
5.4.3.6.2 Nigeria Chocolate Syrup Market by Distribution Channel
5.4.3.6.2.1 Nigeria Chocolate Syrup Market by B2C Type
5.4.3.7 Rest of LAMEA Chocolate Syrup Market
5.4.3.7.1 Rest of LAMEA Chocolate Syrup Market by Type
5.4.3.7.2 Rest of LAMEA Chocolate Syrup Market by Distribution Channel
5.4.3.7.2.1 Rest of LAMEA Chocolate Syrup Market by B2C Type
Chapter 6. Company Profiles
6.1 Nestle S.A.
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expense
6.1.5 Recent strategies and developments:
6.1.5.1 Partnerships, Collaborations, and Agreements:
6.1.5.2 Product Launches and Product Expansions:
6.2 The Hershey Company (Hershey Trust Company)
6.2.1 Company overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Recent strategies and developments:
6.2.4.1 Acquisition and Mergers:
6.3 The Kroger Co.
6.3.1 Company Overview
6.3.2 Financial Analysis
6.4 The J.M Smucker Company
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expenses
6.5 R. Torre & Co. (Torani)
6.5.1 Company Overview
6.5.2 Recent strategies and developments:
6.5.2.1 Product Launches and Product Expansions:
6.6 Bosco Products, Inc.
6.6.1 Company Overview
6.7 Hollander Chocolate, Inc.
6.7.1 Company Overview
6.8 Walden Farms, LLC (PANOS Brands)
6.8.1 Company Overview
6.9 Noushig, Inc. (Amoretti)
6.9.1 Company Overview
6.10. Gold Pure Food Products Co., Inc.
6.10.1 Company Overview
Companies Mentioned
- Nestle S.A.
- The Hershey Company (Hershey Trust Company)
- The Kroger Co.
- The J.M Smucker Company
- R. Torre & Co. (Torani)
- Bosco Products, Inc.
- Hollander Chocolate, Inc.
- Walden Farms, LLC (PANOS Brands)
- Noushig, Inc. (Amoretti)
- Gold Pure Food Products Co., Inc.
Methodology
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