Why Non-Alcoholic Concentrated Syrup has been a bustPosted by Mrudula Karmarkar on April 22nd, 2022 The global non-alcoholic concentrated syrup market size is expected to reach USD 33.82 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to register a CAGR of 5.9% from 2019 to 2025 on account of increasing product demand across the globe. Moreover, rising consumption of non-carbonated drinks in developed countries including U.S., Mexico, and Canada is expected to boost the product demand further. Wide product usage in the pharmaceutical industry is also expected to provide new growth opportunities for market participants, thereby impelling them to develop new products. For instance, Torani, in 2019, launched pumpkin spice Puremade Syrup in San Francisco. In addition, key companies are acquiring new segments of the market with their premium products, including concentrated syrups of unique flavors and authentic taste for nutritional benefits. North America was the dominant regional market in 2018 and is anticipated to expand further at a CAGR of 5.9% from 2019 to 2025 due to high production of fruit and vegetable syrups in U.S. However, Asia Pacific is projected to witness the fastest growth rate over the forecast years. This growth is credited to increased product demand and presence of target population in countries including, India, China, and Bangladesh. Moreover, high demand for convenience foods and beverages will contribute to the growth. Increasing consumption of vegetable and fruit juices due to rising awareness about maintaining a healthy lifestyle will also fuel product demand. Moreover, advent of new flavors and products with enhanced protein and mineral contents will have a positive impact on the market growth. In addition, rising demand for easy-to-store & -serve non-alcoholic beverages is anticipated to increase the product demand in the coming years.In addition, rising demand in pharmaceutical applications to develop non-alcoholic syrups for infants and kids is likely to propel market growth. Fruit syrup was the dominant product segment in 2018 and will retain its dominant position throughout the forecast years. North America was the dominant regional non-alcoholic concentrated syrup market in 2018. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/6462/ibb The industry is highly competitive in nature with the key companies including Pioma Industries Pvt. Ltd., Monin, Britvic Plc., Himdard Laboratory, Nichols Plc, Hindustan Unilever Ltd., Suntory Holdings Ltd., Cottee’s Pvt. Ltd., The Coca-Cola Company, and Elvin Group. These companies follow market strategies, such as M&A and new product development, to acquire a larger market share. Further key findings from the study suggest:
Grand View Research has segmented the global non-alcoholic concentrated syrup market on the basis of product, distribution channel: Non-Alcoholic Concentrated Syrup Product Outlook (Revenue, USD Million, 2015 - 2025)
Non-Alcoholic Concentrated Syrup Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Like it? Share it! More by this author |