According to the research report titled, ‘Global Flavored Syrups Market Size study, by Type (Fruit, Chocolate, Vanilla and Others), by Application (Bakery & Confectionery, Beverages, Dairy & Frozen Desserts and Others) and Regional Forecasts 2021-2027’, global flavored syrups market was worth USD 51.14 billion and is expected to register an annual growth rate of 5.1%, thereby accumulating USD 72.44 billion by the end of the analysis timeline.
 

Increasing product launches with innovative flavors and escalating demand for convenience food products are aiding the expansion of global flavored syrups market. For the unversed, flavored syrups are predominantly used in food products for taste enhancement and are widely popular among the young population.
 

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In addition, surging food & beverages sector, rising demand for food products with fruit flavors and minimum preservatives, and increasing popularity of bakery and confectionary products are augmenting industry outlook.
 

On the contrary, presence of high sugar levels in syrups is likely to slow down the market progression in the ensuing years.
 

In terms of type, global flavored syrups market is bifurcated into vanilla, chocolate, fruit, and others, whereas, bifurcation based on application includes dairy & frozen desserts, beverages, bakery & confectionary, and others.
 

Speaking of the geographical ambit, North America, Asia Pacific, Europe, and Latin America are considered to understand the dynamics of this industry vertical. Among these, North America presently holds a significant market share, owing to rising consumer preference towards flavored syrups in daily meals.
 

Meanwhile, Asia Pacific market is anticipated to amass notable gains during 2021-2027 accreditable to rapid amplification of confectionary industry, large consumer base, and emergence of new products in the region.
 

Key players defining the competitive hierarchy of global flavored syrups market are Walden Farms Inc. (Panos Brands LLC), The J.M. Smucker Company, Starbucks Corporation, The Archer-Daniels-Midland Company, R. Torre & Co. Inc., Fuerst Day Lawson Ltd., Monin Inc., Tate & Lyle PLC, Kerry Group plc, and The Hershey Company.