Global Flavoring Syrup And Concentrate Market Report Opportunities And Strategies

The Business Research Company’s Flavoring Syrup And Concentrate Market Report - Opportunities And Strategies - Global Forecast To 2030

LONDON, GREATER LONDON, UK, January 28, 2021 /EINPresswire.com/ -- New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

Increasing demand for ready-to-drink (RTD) beverages in the food and beverages industry is expected to drive the flavoring syrup and concentrate market in the forecast period. RTD’s are single use packaged beverages that are ready for immediate consumption at the time of purchase. Some of the popular ready to drink beverage types include cocktails, alcoholic drinks, tea, coffee. Introduction of new flavors, ease of carrying, and convenience are expected to lead to increased consumption thereby driving the demand for the flavored syrups market and the concentrates used for manufacturing them.

The global flavoring syrup and concentrate market is expected to grow from $47.82 billion in 2020 to $50.15 billion in 2021 at a compound annual growth rate (CAGR) of 4.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global flavored syrup and concentrate market size is expected to reach $63.92 billion in 2025 at a CAGR of 6%.

The flavoring syrup and concentrate market is segmented by type into savory spreads, syrups, sweet spreads, jam, jellies, preservatives, and molasses. The savory spreads market was the largest segment of the flavoring syrup and concentrate market segmented by type, accounting for about 39.3%. Going forward jam, jellies, preservatives segment is expected to be the fastest growing segment in the flavoring syrup and concentrate market, at a CAGR of 6.3% during 2020-2023.

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The Business Research Company
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