Asia Pacific Flavored Syrups Market is currently valued at 10.55 Billion USD in 2022. It is expected to grow at a CAGR of 4.25% over the forecast period to reach a valuation of 12.99 Billion USD in 2028.
The growth of the Asia-Pacific Flavored Syrups market is primarily driven by factors such as growing demand for distinct flavors in foods by the consumers, personalized flavor choices, and rising user preference for convenience and ready-to-eat meals.
Rising consumer demand for fruit-infused syrups encouraged manufacturers to introduce various products using natural components.
Acceptance of new flavors like duo-fruit syrups, which include Lime-Ginger, Lime-Mint and Raspberry-Mint.
The untapped areas in the developing nations that offer market players with fresh opportunities
High sugar level leading to chronic illnesses in synthetic sweeteners
Intense competition from jams, preserves and chocolate spreads, which occupied a significant portion of the breakfast spread market
Companies are developing innovative flavors to accommodate consumers' frequently changing taste preferences, thus contributing to the market growth. For example, a new category of honey-containing products with unique characteristics such as baked apples with honey, raspberry-lemon balm with honey, and elder-lime with honey, was introduced by the Ági fruit syrups range.
It is expected that the bakery and confectionery segment will register the highest CAGR in the coming years due to the rising preferences for bread, cakes, pastries, cookies, crackers and pretzels will fuel the growth of the segment. The entrance of distinct flavors, along with a growing consumer pleasing factor in the APAC nations, is anticipated to drive demand.
The fruit segment rules the market due to the consumer demand for fruit-infused syrups, coupled with a high preference for unique tastes. Manufacturers are concentrating on implementing mixed syrups and other appealing flavors to preserve their place in the APAC business.
The Asia-Pacific region is divided geographically into China, India, Japan, South Korea and Australia. This region offers significant opportunities for the Flavored Syrups market, with China and India being the most populous countries in the area contributing to increasing demand. The Asia-Pacific region is further expected to offer promising opportunities due to the increase in consumer spending in emerging economies, primarily in China and India.
The major companies dominating the Flavoured Syrups market are Hershey, Tate & Lyle, Kraft Heinz Company, Monin Inc., Kerry Group Plc., Sonoma Syrup, Cedarvale Maple Syrup, and VSBO.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is an extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. An extensive secondary research helps in generating hypothesis and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
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