Middle East and Africa Flavored Syrup Market to Reach US$ 3,065.2 Mn at a CAGR of 4.5% in 2027

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)

Publication Month : Sep 2019

  • Report Code : TIPRE00006616
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 145
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The Middle East and Africa flavored syrup market accounted to US$ 2,068.4 Mn 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 UAE country accounted for the largest market share in the Middle East, and Africa flavored syrup market. With the rise in population, along with changing consumer lifestyle and buying habits, the region is gradually making a move toward the consumption of unique food and beverage items. The demand for flavored syrups is also expected to rise with the change in dietary patterns. Moreover, the increase in the number of retail outlets, supermarkets, and food chains has positively impacted the growth of the Middle East, and Africa flavored syrup market.

Middle East and Africa Flavored syrup Markets

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Market Insights

Growing consumer demand for convenience foods has led to the growth of flavored syrup market

The demand for flavored syrups is increasing due to growing consumer preference toward processed or convenience foods. With the growth of the food and beverages industry and rise in disposable incomes, consumers are inclining more toward convenience foods. These convenience foods have found a shelf in the retail outlets and supermarkets owing to high demand, busy lifestyle, and additional nutritional value they add to the food. These foods minimize the time and energy required for preparing food at home or in hotels. Moreover, rising technology in innovative packaging attract consumers to purchase them.

Growing consumer inclination toward sugar-free products will create growth opportunities for the Middle East and Africa flavored syrup market

Flavored syrups are the concentrates used as toppings to add discrete taste and sweetness to products. They contain artificial or natural flavorings mixed with sugar and water. The high consumption of sugar in the form of flavored syrups could directly affect health and may lead to diabetes, metabolic dysfunction, liver damage, high blood sugar, stomach upsets, and obesity. This has generated awareness among consumers to adopt healthy eating habits. An array of products low-calorie formulations is available on the market to support this trend of health-consciousness. Moreover, companies are coming up with more such innovative, sugar-free products.

Flavor Insights

Based on flavor, the flavored syrup market is bifurcated as fruit, chocolate, vanilla, herbs and seasonings, and others. The fruit segment dominated the Middle East and Africa flavored syrup market. Rising demand for fruit flavored food and beverages and entry of key players in the Middle East and Africa region has led to a significant rise in the market in this region. The increasing demand for fruit syrups in this region has attracted the manufacturers to extend their operations in the region. The availability of various flavors of fruit syrup has been another factor contributing to the growth of the fruit segment in the Middle East and Africa flavored syrup market

Application Insights

The flavored syrup market is bifurcated based on application into sweet, salty and savory, sour, and mint. The sweet segment accounted for the largest share in the Middle East and Africa flavored syrup market. The sweet-flavored syrups have a slightly different applications from that of other types of flavors available on the market. The sweet syrups are used as instant and liquid sweeteners that can dissolve easily into the beverages and other items. 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 major factors which growth of the sweet segment in the Middle East and Africa flavored syrup market.

Rest of Middle East and Africa Flavored syrup Market by Application

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Middle East and Africa Flavored Syrup Market: Strategic Insights

middle-east-and-africa-flavored-syrup-market
Market Size Value inUS$ 2,068.4 Million in 2018
Market Size Value byUS$ 3,065.2 Million by 2027
Growth rateCAGR of 4.5% from 2019-2027
Forecast Period2019-2027
Base Year2019
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New product development was observed as the most adopted strategies in Middle East and Africa flavored syrup market. Few of the recent developments in the Middle East and Africa flavored syrup market are listed below:

2019:

Torani is expanding its offering by introducing a new line of expertly crafted syrups and sauces, delivering amazing flavors with clean and natural ingredients.


2019:

Sonoma Syrup Co introduced its peppermint simple syrup at the Winter Fancy Food Show in San Francisco, California.


2018:

Davinci Gourmet launched fruit mix and lemonade syrups. The seven exceptional fruit mix variants have diversified Davinci Gourmet’s product portfolio of more than 80 products and flavors to strengthen its beverage solutions.

MIDDLE EAST AND AFRICA FLAVORED SYRUP MARKET SEGMENTATION


By Flavor

  • Fruit
  • Chocolate
  • Vanilla
  • Herbs and Seasonings
  • Others


By Flavor Type

  • Sweet
  • Salty & Savory
  • Sour
  • Mint


By Application

  • Beverages
  • Dairy & Frozen Desserts
  • Confectionery
  • Bakery
  • Others


By Country

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa


Company Profiles

  • Amoretti
  • Archer Daniels Midland Company
  • ASR Group
  • Kerry Group
  • Monin, Inc.
  • Small Hand Foods
  • Sonoma Syrup Co.
  • Sunny Sky Products, LLC
  • The Hershey Company
  • Torani
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Flavor, Flavor Type, Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Saudi Arabia

The List of Companies

  1. Amway
  2. The Nature’s Bounty Co.
  3. Herbalife International of America, Inc.
  4. Chobani, Llc.
  5. General Mills, Inc.
  6. Kellogg Co.
  7. Helion Nutraceuticals, Llc.
  8. Abbott
  9. Valensa International
  10. Matsun Nutrition

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

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Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

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  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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