Syrups Market to Grow at 3.73% CAGR Driven by Demand for Organic Maple Syrup to 2020
ReportsnReports.com adds Global Syrups Market 2016-2020 latest research report, the analysts forecast global syrups market to grow at a CAGR of 3.73% during the period 2016-2020.
Pune, India – April 29, 2016 /MarketersMedia/ —
The global syrups market is experiencing strong demand for organic maple syrup. Maple syrup is increasingly used as a natural alternative to artificial sweeteners. It is added in various foods and beverages as a sweetening agent. It provides flavor to sausages, fritters, and ice creams. The market research analysts have predicted the global syrups market to grow steadily at a CAGR of close to 4% over the forecast period.
Complete report on syrups market spread across 54 pages, analyzing 5 major companies and providing 28 data exhibits is now available at http://www.reportsnreports.com/reports/533994-global-syrups-market-2016-2020.html.
According to the 2016 syrups market report, intensifying demand for syrups in the pharmaceutical industry is one of the key drivers. Syrups are available in concentrated, sweetened, viscous, and aqueous forms, which contain less than 10% alcohol. They are increasingly used in the pharmaceutical industry as therapeutic vehicles for oral, nasal, and topical products.
Syrups are increasingly being used in various beverages in its diluted form, as additives in frozen desserts and yogurts. They are also extensively used in cocktails and mocktails. Moreover, the flexibility in syrup formulations is a major factor boosting their use as a taste enhancer as well as a sweetener. Therefore, such syrups are an essential ingredient in bars and are added to most cold drinks and cocktails to enhance the taste. Furthermore, since syrups are organic and are available in a wide array of low-calorie formulations, its demand among the end users will increase significantly over the next few years. Order a copy of Global Syrups Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=533994.
In this industry research report, the analysts have estimated factors like the growing popularity of coffee flavoring syrups to contribute to the growth of syrups market until the end of 2020. Manufacturers in the coffee segment are increasingly focusing on coming up with innovative methods to sustain the growth of the specialty coffee industry. As a result, most leading cafés like Starbucks offer coffee with flavored syrups such as vanilla latte and caramel cappuccino. Moreover, seasonal coffee flavors like, gingerbread during Christmas, is also very popular among the consumers. Also, most teenagers prefer to experiment with new flavors, which in turn will impel this market’s growth potential during the predicted period.
During 2015, the Americas dominated the global syrups market and accounted for more than 60% of the market share in terms of revenue. Factors such as the increasing demand for convenience food, functional food, and alternative sugar sources will augment the demand for syrups in industrial and non-industrial applications in the Americas.
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The global syrups market is very dynamic as it is subjected to rapidly changing consumer demands and preferences. The market is highly fragmented and is characterized by the presence of numerous small and large vendors. The vendors compete in terms of product differentiation, product pricing, quality, innovation, service, reputation, and distribution. Therefore, to survive and succeed in this competitive environment it is imperative for the vendors to distinguish their product offerings through a unique value proposition.
Key players in the global syrups market: Aunt Jemima (The Quaker Oats Company), Hershey, Sonoma Syrup, The Kraft Heinz Company, and Tropicana Slim.
Other Prominent Vendors in the market are: American Garden, Amoretti Premium, DaVinci Gourmet, Hidden Springs Maple, Hungry Jack, Log Cabin, Mrs. Butterworth’s, Nature’s Way, Monin, Starbucks, and Torani.
Further, the report states that the growth of syrups market is curtailed by some serious challenges. One such challenge is the health problems associated with HFCS. Continuous consumption of HFCS can lead to problems such as increased blood pressure and high blood sugar. With a growing focus on healthy, low-calorie diets, artificial sweeteners are increasingly replacing sugar and HFCS in foods and beverages.
Further, the syrups market report states that the challenges associated with the introduction of new technology are the prohibitive cost, technology risk driven by certification requirements, and its shorter product life cycle.
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