Sugar Syrups Market Impressive Growth, Size, Value Share, Latest Trend, Key Players Review, Business Statistics by Forecast to 2023
Sugar Syrups Market Global Information by Type (Glucose, Maple, Corn and other), by Application (Beverages, Bakery & Confectionary, Dairy & Frozen Desserts and others), by Distribution Channel (Store, Non-Store Based) and Region Forecast till 2023
pune, India – August 7, 2019 /MarketersMedia/ —
Market Overview
Sugar Syrup Market is expected to grow significantly at a striking CAGR during the forecasted period driven by the product’s varied and budding applications and demand in the beverage industry.
The growing demand for sugar syrups from the beverage industry due to the increasing consumer needs for ready-to-eat food products is anticipated to increase the consumer demand for sugar syrups on a global as well as regional level. Sugar syrup is basically a thick mixture of sugar and water, prepared commonly from fruits or plants. It is also utilized as an organic food preserving substance in the beverage and bakery industry. This is expected to contribute substantially to global demand over the review period.
The proclivity of the beverage industry to manufacture steady and uniform solutions is expected to introduce a promising market for the usage of sugar syrups in the industry. The product has also witnessed a growth in the popularity in the niche industry of convenience food by its numerous applications such as to the rise the shelf life, flavor, and product appearance. Moreover, the usage of artificial sugars with a higher-level high sugar content has raised concern because of its health concerns such as the increasing prevalence diabetes, which is likely to hinder the growth of sugar syrups market over the forecast period.
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Key Players
The key players identified in the Sugar Syrups Market are
• Archer Daniels Midland (the U.S.),
• Coca Cola Company (the U.S.),
• Cedarvale Maple Syrup (New York),
• PepsiCo (the U.S.),
• Sonoma Syrup (Canada),
• Illovo Sugar Ltd. (South Africa),
• Tereos (France)
Segment Analysis
The global market for sugar syrups is segmented based on type, into glucose, corn, maple, other. Among them, the glucose syrup segment holds a significant share of the global market due to high manufacturing and various substantial applications in the beverage industry.
The global market for sugar syrups is segmented based on application, into beverages, dairy & frozen desserts, bakery & confectionery, and others. Among all, the beverage industry is leading the global market and is expected to grow over the review period. Since sugar syrup can be easily blended with beverages and carbonated drinks, it is extensively used in this industry across the globe.
Sugar syrups market has been segmented based on distribution channel, into specialty retailers, store-based (supermarkets/hypermarkets, convenience stores, others), and non-store based (e-commerce). Sale through store-based channels is dominating the market owing to the convenient one-stop shopping experience of the consumers.
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Regional Analysis
The global market for sugar syrups is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW).
North America accounts for a noteworthy market share followed by Europe. North American region is estimated to witness momentous growth during the forecast period. The growing consumer awareness and favorable regulatory policies are expected to account for some of the substantial reasons for the increasing usage of natural sugar syrups-based products in the Asia Pacific market over the review period. Extensive research and development activities in the North American region along with technological advancement, is likely to increase the production of sugar syrups in this region over the review period. Furthermore, the U.S. & Canada holds a significant share of the global sugar syrup market in the North American region.
On the other hand, the Asia Pacific region of the global sugar syrups market is likely to grow as the fastest-growing market across the globe due to the developing food and beverage industry in countries such as China, Japan, South Korea and the increasing demand for convenience foods.
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