Who are the key players in Syrup Market?

The Hershey Company, Conagra Brands Inc., The Kraft Heinz Company, The J.M. Smucker Company and Nestle SA are the major companies operating in the Syrup Market. Read More

Which is the fastest growing region in Syrup Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Syrup Market?

In 2024, the North America accounts for the largest market share in Syrup Market. Read More

What years does this Syrup Market cover, and what was the market size in 2023?

In 2023, the Syrup Market size was estimated at USD 2.9 billion. The report covers the Syrup Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Syrup Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Syrup Market Size

Market Size of Syrup Industry

Study Period	2019 - 2029
Market Size (2024)	USD 3.07 Billion
Market Size (2029)	USD 4.07 Billion
CAGR (2024 - 2029)	5.83 %
Fastest Growing Market	Asia Pacific
Largest Market	North America
Major Players *Disclaimer: Major Players sorted in no particular order

Syrup Market Analysis

The Syrup Market size is estimated at USD 3.07 billion in 2024, and is expected to reach USD 4.07 billion by 2029, growing at a CAGR of 5.83% during the forecast period (2024-2029).

The syrup market is witnessing an upsurge in demand due to the wide usage of syrups in different food items. The market is largely driven by the increasing demand for syrups to be consumed with food products, especially convenience and ready-to-eat food. The flexibility in syrup formulation is an important factor that helps in boosting the use of the product as a taste enhancer and sweetener. Apart from sweet-flavored syrups, the market also has savory-flavored syrups, thus catering to the changing consumer preferences.

Syrups can be used with food and beverage items, further expanding their scope in the market. They can be used in diluted forms in different beverages like mocktails, cocktails, drinkable yogurt, and others. Among all the syrups, fruit syrup accounts for the largest share due to its wide usage in beverages. The market is driven by the demand for new flavors in beverages. However, one of the major challenges restraining the market is the presence of readily available substitutes, such as spreads.

Syrup Industry Segmentation

Syrups are thick, viscous liquids primarily consisting of a solution with or without added sugar. They are used with different breakfast items or can be mixed with beverages and consumed. The syrup market is segmented by type, distribution channel, and geography. By type, the market is segmented into chocolate syrup, maple syrup, high fructose corn syrup, rice syrup, malt syrup, tapioca syrup, honey, fruit syrup, and other types. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).

Type
		Chocolate Syrup
		Maple Syrup
		High-fructose Corn Syrup
		Rice Syrup
		Malt Syrup
		Tapioca Syrup
		Honey
		Fruit Syrup
		Other Types

Distribution Channel
		Supermarkets/Hypermarkets
		Convenience Stores
		Online Retail Stores
		Other Distribution Channels

Geography

North America
	United States
	Canada
	Mexico
	Rest of North America

Europe
	Spain
	United Kingdom
	Germany
	France
	Italy
	Russia
	Rest of Europe

Asia-Pacific
	China
	Japan
	India
	Australia
	Rest of Asia-Pacific

South America
	Brazil
	Argentina
	Rest of South America

Middle-East and Africa
	South Africa
	Saudi Arabia
	Rest of Middle-East and Africa

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Syrup Market Size Summary

The syrup market is experiencing significant growth, driven by its extensive application in various food and beverage products. The increasing demand for syrups, particularly in convenience and ready-to-eat foods, is a key factor propelling market expansion. The versatility of syrup formulations, including both sweet and savory flavors, caters to evolving consumer preferences. Fruit syrups, in particular, dominate the market due to their prevalent use in beverages, fueled by a growing interest in new flavors. However, the market faces challenges from readily available substitutes like spreads. The rising consumer preference for healthy, natural, and organic options is positively influencing market growth, as more individuals prioritize functional benefits alongside taste.

North America leads the syrup market, with the United States and Canada at the forefront due to high production, consumption, and export rates. The region's preference for syrups with breakfast items and as toppings for snacks contributes to this dominance. The North American market is also a hub for innovation in organic syrups and natural sweeteners, driven by consumer concerns about health and the environment. The competitive landscape is marked by the presence of both domestic and multinational companies, with major players like Nestle SA and The Kraft Heinz Company actively expanding their product lines and global presence. Strategic initiatives such as mergers, acquisitions, and partnerships are common as companies strive to enhance their market share and meet diverse consumer needs across regions.

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Syrup Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Drivers
2. 1.2 Market Restraints
3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis
  1. 1.3.1 Bargaining Power of Suppliers
  2. 1.3.2 Bargaining Power of Consumers
  3. 1.3.3 Threat of New Entrants
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 Type
  1. 2.1.1 Chocolate Syrup
  2. 2.1.2 Maple Syrup
  3. 2.1.3 High-fructose Corn Syrup
  4. 2.1.4 Rice Syrup
  5. 2.1.5 Malt Syrup
  6. 2.1.6 Tapioca Syrup
  7. 2.1.7 Honey
  8. 2.1.8 Fruit Syrup
  9. 2.1.9 Other Types
2. 2.2 Distribution Channel
  1. 2.2.1 Supermarkets/Hypermarkets
  2. 2.2.2 Convenience Stores
  3. 2.2.3 Online Retail Stores
  4. 2.2.4 Other Distribution Channels
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Mexico
    4. 2.3.1.4 Rest of North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Spain
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 Germany
    4. 2.3.2.4 France
    5. 2.3.2.5 Italy
    6. 2.3.2.6 Russia
    7. 2.3.2.7 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 Japan
    3. 2.3.3.3 India
    4. 2.3.3.4 Australia
    5. 2.3.3.5 Rest of Asia-Pacific
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 South Africa
    2. 2.3.5.2 Saudi Arabia
    3. 2.3.5.3 Rest of Middle-East and Africa