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.
Middle East and Africa Flavoured Syrups Market was worth $2.60 billion in 2018 and estimated to be growing at a CAGR of 2.809%, to reach $2.990 billion by 2023. 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 Middle East and Africa 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. The high growth potential in the developing markets in this region offers new prospects for the market players. The key restraint of the syrup market is the high sugar level in synthetic sweeteners which lead to health problems. The diabetic epidemic is a key heath issue throughout the world and it has been escalating, especially in middle income families, who are the chief consumers of syrups. Furthermore, excess sugar intake is linked to metabolic dysfunction, liver damage, and obesity, which are driving the health conscious users away from sugary syrups. Hence customers are turning away from carbonated beverages. This is hindering the demand for the syrups used in their manufacture.
The Middle East and Africa 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. Under the applications segment, Dairy & frozen desserts has the highest CAGR because of its use in milkshakes, frappes, flavoured milk, whipped creams, and others.
The market has been geographically segmented into Middle East and Africa. In terms of revenue, South Africa leads the market in this region. The Middle East and Africa region is expected to offer lucrative growth opportunities, owing to the rise in disposable incomes in developing economies, primarily in South Africa and U.A.E.
The major companies dominating the Flavoured Syrups market in this region are Hershey, Tate & Lyle, Kraft Heinz Company, Monin Inc., Kerry Group Plc., Sonoma Syrup, Cedarvale Maple Syrup, and Sensient Technologies Corporation.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Flavour
5.1.1 Chocolate
5.1.2 Coffee
5.1.3 Herbs & Seasonings
5.1.4 Vanilla
5.1.5 Fruit
5.1.6 Maple
5.1.7 Malt
5.1.8 Palm
5.1.9 Others
5.2 By Flavour Type
5.2.1 Salty
5.2.2 Sour
5.2.3 Mint
5.2.4 Savoury
5.2.5 Sweet
5.3 By Application
5.3.1 Dairy & Frozen Desserts
5.3.2 Bakery
5.3.3 Confectionery
5.3.4 Beverage
5.3.5 Others
6. Geographical Analysis
6.1 Introduction
6.2 Middle-East
6.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Hershey
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Tate & Lyle
8.3 Kraft Heinz Company
8.4 Monin Inc.
8.5 Kerry Group Plc.
8.6 Sonoma Syrup
8.7 Cedarvale Maple Syrup
8.8 Sensient Technologies Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
