Sugar Syrups Market Overview
Sugar Syrups Market is projected to grow at a CAGR of 4.2% with 5.1 billion by 2030
Drivers and Restrains Impacting Sugar Syrup Market
A highly concentrated solutions of sugar in water is called sugar syrup. Syrup is prepared from extracts of plants or fruits. Sugar syrup is also used as natural food preservatives in bakery and beverage products to boost flavor and taste of these products. Being liquid in nature, it can be easily blended with food products, such as; beverages, to give a uniform consistency. The growing popularity of sugar syrup due to high demand for carbonated drinks and beverage can support the market expansion. The market of sugar syrup can be further driven by the surging demand for bakery and beverage products that are prepared by sugar syrups, such as; breakfast and dairy foods among the working population. Further, the sugar syrups market outlook is expected to thrive on diverse and potential application of sugar applications in the bakery industry.
The growing demand for sugar syrups in the global beverage industry due to rise in consumption needs for ready-to-eat food is expected to escalate the demand for sugar syrups and boost the global sugar syrup market.
The inclination of food and beverage industry to prepare consistent and uniform solution has contributed to a new market of sugar syrups in the industry that can gained popularity in the convenient food industry due to its several applications, such as. increase shelf life, product appearance, and flavor. On the contrary, the utility of artificial sugar with increased sugar content has raised health concern, such as, diabetes, which can hamper the growth of the global sugar syrups during the forecast period.
Key Players of Sugar Syrup Market
Some of the well-established players in the sugar syrups market that are profiled by Market Research Future are; Archer Daniels Midland (the U.S.), Coca Cola Company (the U.S.), Cedarvale Maple Syrup (New York), Sonoma Syrup (Canada), Illovo Sugar Ltd. (South Africa), PepsiCo (the U.S.), and Tereos (France) among others.
Segment Study of Sugar Syrup Market
The segment study of the sugar syrup market is based on type, distributor channel, and application
The type-based segments of the sugar syrups market are glucose, corn, and maple among other. The glucose syrup segment can share the major share of the worldwide market owing to high production of sugar syrup and various applications in the global beverage industry.
The application-based segments of the global sugar syrups market are beverages, dairy frozen desserts, and bakery confectionary among others. The segment of beverage industry can dominate the worldwide market that is expected to rise in the review period. Since sugar syrup can easily blended with carbonated drinks and beverages, it can be widely used in FB industry, thus support market rise.
The distribution-based segments of the sugar syrups market are store-based (supermarkets or hypermarkets, convenience stores, and specialty retailers among others), and the non-store-based segment that comprises e-commerce. Sales through store-based channels can rise, thus dominate the worldwide market as convenient stores offer one-stop shopping experience to consumers.
Regional Analysis of Sugar Syrup Market
The global sugar syrups market insights by segment analysis based on region, spans across North America, Asia Pacific, Europe, and Rest of the World (RoW). Among these regions, North America can hold the highest market share followed by Europe. North America sugar syrup market can witness the growth pace over the evaluation tenure. The rise in awareness of consumers and introduction of favorable regulatory laws can be considered as some of the major reasons that can underpin the rise of the market. Further, the U.S. and Canada cab hold a major share of the worldwide sugar syrup market in North America. In Europe, the surging use of natural sugar syrups-based products can add to the market growth. In the Asia Pacific region, the market of sugar syrup can rise at a healthy CAGR, which can be attributed to extensive RD activities in the region. Technological advancement contributing to the high production of sugar syrups in APAC can work in favor of the regional market. The expanding beverage industry, along with the high demand for convenience foods, can favor the market rise in the years to come.
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