Europe Flavoured Syrups Market Size & Growth (2023 – 2028):
Europe Flavoured Syrups Market was worth $11.38 billion in 2022 and estimated to be growing at a CAGR of 3.82%, to reach $13.92 billion by 2028.
The syrup industry’s main activities consist of manufacture of beverage syrups, toppings, and powders which are further used in soft drink production. Arrival of new drink products will aid in altering the predilection of customers, thereby shifting the growth of syrup market.
There is a rising demand for syrups as a sweetening agent in the food and beverage industry, due to huge ingestion of processed foodstuff and a profuse yearning for items that have high sugar levels.
The growth of the 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.
Segmentation Analysis of Europe Flavoured Syrups Market:
The Europe Flavoured Syrups market is segmented based on flavour, flavour type, and application. The market for Flavoured Syrups, on the basis of flavour, is classified into Chocolate, Coffee, Herbs & Seasonings, Vanilla, Fruit, Maple, Malt, Palm, and Others. On the basis of flavour type, the Flavoured Syrups market is segmented into Salty, Sour, Mint, Savoury, Sweet. On the basis of Application, the Flavoured Syrups market is segmented into Dairy & Frozen Desserts, Bakery, Confectionery, Beverage, and Others. 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 of chocolate-flavoured dairy drinks, frozen desserts, ice creams, chocolate confectionery, and chocolate-flavoured beverages. Under the applications segment, Dairy & frozen desserts has the highest CAGR because of its use in milkshakes, frappes, flavoured milk, whipped creams, and others.
Regional Segmentation of Europe Flavoured Syrups Market:
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. In this region, Syrups are a very popular addition to breakfast food such as pancakes and as 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 the customers in milkshakes, cold beverages, and as a topping on ice creams, pancakes, waffles, and cakes.
Key Players In The Market:
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