Middle East And Africa Flavoured Syrups Market

Middle East and Africa Flavoured Syrups Market Growth and Forecast (2023 - 2028):

Middle East and Africa Flavoured Syrups Market was worth $2.60 billion in 2022 and estimated to be growing at a CAGR of 2.809%, to reach $2.990 billion by 2028. 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.

Market Overview:

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.

Drivers and Restraints:

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.

Middle East and Africa Flavoured Syrups Market Segmentation Analysis:

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.

Regional Analysis:

Geographically the Middle East and Africa Flavoured Syrups Market is segmented into KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA. 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.

Key Players in the Market:

Major Key Players in the MEA Flavoured Syrups Market are

• Hershey
• Tate & Lyle
• Kraft Heinz Company
• Monin Inc
• Kerry Group Plc
• Sonoma Syrup
• Cedarvale Maple Syrup
• Sensient Technologies Corporation