Report : Middle East and Africa Flavored Syrup Market to 2027 - Regional Analysis and Forecasts by Flavor (Fruit, Chocolate, Vanilla, Herbs & Seasonings, and Others); Flavor Type (Sweet, Salty & Savory, Sour, and Mint); Application (Beverages, Dairy & Frozen Desserts, Confectionery, Bakery, and Others)
Rising focus toward development of health-centric flavored syrups is projected to escalate the flavored syrup market at a CAGR of 4.5%
Latest market study on "Middle East and Africa Flavored Syrup Market to 2027 - Analysis and Forecasts By Flavor (Fruit, Chocolate, Vanilla, Herbs & Seasonings, and Others); Flavor Type (Sweet, Salty & Savory, Sour, and Mint); Application (Beverages, Dairy & Frozen Desserts, Confectionery, Bakery, and Others)". The Middle East and Africa flavored syrup market is accounted to US$ 2,068.4 Mn in 2018 in 2018 and is expected to grow at a CAGR of 4.5% during the forecast period 2019 - 2027, to account to US$ 3,065.2 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under the flavor type segment, the sweet segment accounted for the largest share in the Middle East and Africa flavored syrup market. The sweet-flavored syrups have slightly different applications from the other types of flavors available on the market. The sweet syrups are used as instant, liquid sweeteners that can dissolve easily into the beverages and other items. Different types of sweet-flavored syrups include sugar syrup, sugar-free sweetener syrups, honey-flavored syrup, maple-flavored syrup, and agave syrup. The simple sugar syrups are widely used in cappuccino, lemonade, iced tea, and coffee preparations. The availability of sugar-free sweet flavored syrup and an increase in demand for the same due to rising health consciousness among people have been significant factors contributing to the growth of the sweet flavored syrup market in the MEA.
The flavored syrups are used to enhance taste and add sweetness and acts as natural preservatives to decrease water activity. The rapid growth of the market for flavored syrups is attributed to the increase in demand for these syrups in various preparations in the food and beverage and pharmaceutical industries. The rise in consumer preference for different flavors and improvement in health consciousness motivated consumables manufacturers to produce an innovative and improved variety of products having health benefits as well. Also, consumer liking has increased for organic syrups composed of natural ingredients, low-calorie content, and minimally processed to maintain their health attributes.
The market for Middle East and Africa flavored syrup is concentrated with some very well-established players. Some of the key players in the Middle East and Africa flavored syrup market include Amoretti, Archer Daniels Midland Company, ASR Group, Kerry Group, Monin, Inc., Small Hand Foods, Sonoma Syrup Co, Sunny Sky Products, LLC, The Hershey Company, and Torani among others.
Middle East and Africa Flavored Syrup Market - By Region Breakdown, 2018