North America Non-Alcoholic Concentrated Syrup Market

North America Non-Alcoholic Concentrated Syrup market Analysis:

North America Non-Alcoholic Concentrated Syrup market is anticipated to grow at 5.67% CAGR from 2020 to 2026 and it is estimated that the North America market was valued at USD 5.08 billion in 2018 and is expected to reach USD 6.69 billion by 2026.

Non-alcoholic concentrated syrup popularly known as squash are ready to serve types of drinks that include fruit juice, water, and sugar or sugar substitute. In the undiluted state, the syrup is sweet, so it is basically formulated to be mixed primarily with water before drinking. Thus, it can be diluted in any amount to match the taste of consumer, usually at a ratio of part squash to four or five-part water.

North America Non-Alcoholic Concentrated Syrup market Growth:

The syrup is driven by a few major factors such as high demand and popularity of ready-to-serve drinks, changing preferences from carbonated to healthy soft drinks, rapid urbanization, and busy lifestyles, with the changing pace of consumption. However, there are a few factors that are restraining, such as the presence of numerous soft drink alternatives and restricted demand in the niche soft drink market. Squashes/syrup market has good opportunities in the soft drink segment, such as serving these drinks in the catering industry through hotels, railways, and airports.

North America Non-Alcoholic Concentrated Syrup market Segmentation

The North America Non-Alcoholic Concentrated Syrup market is segmented on the basis of Type and Distribution Channel. On the basis of Type, it is segmented into Fruit Squash, Vegetable Squash, Herbs & Spices Squash, and Others. On the basis of Distribution Channel, it is segmented into Specialty Stores, Online Stores, Super Markets/ Hyper Markets, Convenience Store, Departmental Stores and Others.

Impact of COVID-19 on North America non-alcoholic concentrated syrup market:

Although the COVID-19 pandemic continues to transform the course of many industries, the immediate impact of the epidemic is diverse. The impact of lockdowns, supply chain disruptions, destruction of demand, and changes in customer behaviour have had a substantial impact on the champagne market. The global food and beverage industry is one of the major industries experiencing severe disruptions such as supply chain disruptions, technology event cancellations, office closures, etc. after this epidemic. The closure of several factories in China is affecting global supply chains and negatively impacting the manufacturing, delivery times and sales of various ingredients and food products. All these factors are expected to negatively affect the food and beverage industry and therefore act as a limiting factor for the growth of various markets related to this industry in the coming months. However, with the growing demand for the adoption of high quality food products, the demand for the North America non-alcoholic concentrated syrup market.

Regional Analysis:

The North America non-alcoholic concentrated syrup market has been categorized on the basis of geography to offer a clear understanding of the market. North America is holding with the dominant shares of the market. This is due to the strong production of fruit and vegetable syrups in the United States. In addition, companies are acquiring new market segments with its high-end products, including concentrated syrups with unique flavors and authentic flavor. Product launches, innovative flavors and beverages, and mergers and acquisitions with smaller players have been strong business strategies for the North America non-alcoholic concentrated syrup market in these regions.

North America Non-Alcoholic Concentrated Syrup market Key Players:

The market is dominated by companies like Pioma Industries Pvt. Ltd, Britvic plc, Humdard Laboratory, P&N Beverages Pvt. Ltd, Golden Circle Ltd., Unilever Ltd, Prigat Pvt Ltd Nichols plc, Suntory Holdings Limited, Coca-Cola Company, COTTEE’S Pvt. Ltd, Bickford's Australia Pvt. Ltd, and Assis Pvt Ltd.