Non-Alcoholic Concentrated Syrup Market Size

Non-Alcoholic Concentrated Syrup Market Insights

Market Overview:

Beginning at a substantial value of USD 22.62 billion in 2018, the global non-alcoholic concentrated syrup market is poised for continued expansion, with a projected compound annual growth rate (CAGR) of 5.9% from 2019 to 2025. The market's growth trajectory is underpinned by the escalating consumption of non-carbonated beverages, particularly in developed nations such as the U.S., Mexico, and Canada. As consumer preferences pivot towards healthier beverage options, the demand for non-alcoholic concentrated syrups, which can be mixed with water or other bases to create flavorful drinks, is anticipated to surge. The versatility of these syrups, enabling the creation of customized beverages with varying sweetness levels, aligns well with the evolving demands of health-conscious consumers seeking more control over their beverage choices. This shift in consumption habits underscores the market's role in catering to modern lifestyles and preferences.

Non-Alcoholic Concentrated Syrup Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028

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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Soft Drinks by segment aggregation, the contribution of the Soft Drinks in Food, Beverage & Tobacco and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

FAQs

The market for Non-Alcoholic Concentrated Syrup was estimated to be valued at US$ XX Mn in 2021.

The Non-Alcoholic Concentrated Syrup Market is estimated to grow at a CAGR of XX% by 2028.

The Non-Alcoholic Concentrated Syrup Market is segmented on the basis of Product (Revenue, USD Million, 2015 - 2025), Distribution Channel (Revenue, USD Million, 2015 - 2025), Regional (Revenue, USD Million, 2015 - 2025).

Based on region, the Non-Alcoholic Concentrated Syrup Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Non-Alcoholic Concentrated Syrup Market are nsights , The non-alcoholic concentrated syrup market size was valued at USD 22.62 billion in 2018 and is projected to expand further at a CAGR of 5.9% from 2019 to 2025. Rising consumption of non-carbonated drinks in developed countries including U.S., Mexico, and Canada is expected to boost the product demand over the forecast period. , Increasing consumption of vegetable and fruit juices due to rising awareness about maintaining a healthy lifestyle will also fuel product demand. Moreover, advent of new flavors and products with enhanced protein and mineral contents will have a positive impact on the market growth. In addition, rising demand for easy-to-store & -serve non-alcoholic beverages is anticipated to increase the product demand in the coming years. , In addition, rising demand in pharmaceutical applications to develop non-alcoholic syrups for infants and kids is likely to propel market growth. Fruit syrup was the dominant product segment in 2018 and will retain its dominant position throughout the forecast years. North America was the dominant regional non-alcoholic concentrated syrup market in 2018. , It is anticipated to expand further at a CAGR of 5.9% from 2019 to 2025 due to high production of fruit and vegetable syrups in U.S. However, Asia Pacific is projected to witness the fastest growth rate over the forecast years. This growth is credited to increased product demand and presence of target population in countries including, India, China, and Bangladesh. Moreover, high demand for convenience foods and beverages will contribute to the growth. , Product Insights , Fruit syrups was the dominant product segment in 2018 and is anticipated to expand further at the fastest CAGR of 6.4% from 2019 to 2025. High demand for easy-to-store fruit syrups due to hectic lifestyles is considered as a significant factor for segment growth. The herbs and spices syrup is estimated to be the second fastest-growing segment from 2019 to 2025 owing to rising demand for herbs and spices. In addition, top manufacturers in this segment focus more on providing authentic flavors and ingredients, which will fuel the growth further. For instance, Torani, in 2019, launched pumpkin spice Puremade Syrup. , Distribution Channel Insights , The supermarkets/hypermarkets segment led the non-alcoholic concentrated syrup market in the past and will continue to expand further at a steady CAGR over the next seven years. This growth can be attributed to the availability of a number of products offered by different brands, which enables consumers to compare and choose the best product. Developments in terms of structured retail sectors have also been fueling the segment growth. , On the other hand, the online segment is projected to witness the fastest CAGR of 6.5% from 2019 to 2025 due to growing popularity of e-commerce platforms, such as Amazon and Flipkart, and extensive usage of internet and smartphones. Moreover, online retailers provide discounts and offers on branded products and doorstep delivery services. These factors are likely to boost the sales through online channels. , Regional Insights , North America was the dominant regional market in 2018 and is anticipated to grow further at a CAGR of 5.9% from 2019 to 2025. This is on account of high production of fruit and vegetable syrups in U.S. In addition, companies are acquiring new segments of the market with their premium products, including concentrated syrups of unique flavors and authentic taste. , Asia Pacific is expected to be the fastest-growing market at a CAGR of 6.7% from 2019 to 2025. The regional market has potential growth opportunities for new segments, such as convenience food, as the developing countries in APAC are adopting western culture and lifestyle. Moreover, increasing consumer disposable income levels will contribute to the demand. , Non-alcoholic Concentrated Syrup Market Share Insights , These companies follow market strategies, such as M&A and new product development, to acquire a larger market share. , KEY MARKET SEGMENTS , By Product (Revenue, USD Million, 2015 - 2025) , Fruit , Vegetable , Herbs & Spices , Medical , By Distribution Channel (Revenue, USD Million, 2015 - 2025) , Supermarkets/Hypermarkets , Convenience Stores , Online , By Regional (Revenue, USD Million, 2015 - 2025) , North America , U.S. , Canada , Europe , U.K. , Germany , Asia Pacific , China , Central & South America , Brazil , Middle East & Africa , South Africa , KY MARKET SEGMENTS , Pioma Industries Pvt. Ltd. , Monin, Britvic Plc. , Himdard Laboratory , Nichols Plc , Hindustan Unilever Ltd. , Suntory Holdings Ltd. , Cottee’s Pvt. Ltd. , The Coca-Cola Company , Elvin Group.".