Non-Alcoholic Concentrated Syrups Industry

Non-Alcoholic Concentrated Syrup Market Analysis

The Non-alcoholic Concentrated Syrup Market is expected to register a CAGR of 5.8% during the forecast period.

• The market is mainly driven by the rising demand for non-carbonated drinks in the developed countries and increasing consumption of fruits and vegetable juices, owing to the rising awareness regarding the functional properties of such juices, which are preferred by health-conscious consumers.
• Also, the frequent launch of new flavored products with enhanced nutritional content, mostly by the leading players, further boosts the market growth. For instance, Swoon LLC, in 2019, launched a zero sugar liquid simple syrup, especially for consumers suffering from diabetes and health-conscious consumers. Also, in the same year, Torani launched a new pure made line of syrups and sauces range comprising 16 flavor variants, including Pumpkin Spice, Green Apple, Passionfruit, White Peach, and Maple in San Francisco.
• However, a factor restraining the market includes the increasing demand for water enhancers and carbonated drinks.

Non-Alcoholic Concentrated Syrup Market Trends

Rising Demand for Fruit-based Drinks

The demand for fruit-based drinks has witnessed a steady growth, owing to the rising importance of leading a healthy lifestyle. Also, changing lifestyles and altered eating patterns of the consumers have resulted in an increased intake of affordable, healthy, and quick sources of nutrition, like fruit-based drinks, thereby catalyzing the growth of the market. Moreover, with the auxiliary demand from the beverage industry, due to the increased consumption of convenience products, including on-the-go beverages, and the rising demand for natural foods, along with health and nutritional concerns with respect to processed products, the RTE fruit-based drinks market is estimated to experience a significant hike in the forecast period.

Asia-Pacific is the Fastest Growing Market

Asia-Pacific is the fastest-growing market for non-alcoholic concentrated syrup, where countries, such as China, Indonesia, and India, account for the largest share. The regional market has potential growth opportunities for new segments, such as convenience food, as the developing countries in the region are adopting western culture and lifestyle. Moreover, increasing consumer disposable income levels will contribute to the demand. Also, with the increasing internet penetration, the online market for the purchase of food items, including non-alcoholic concentrated syrups, has experienced rapid growth, globally, in the last three to four years. This category has attracted a few vertical specialists, like Amazon, Walmart, and Carrefour, who are riding on the increasing e-retailing growth and vying for a significant share in the online non-alcoholic concentrated syrup market.

Non-Alcoholic Concentrated Syrup Industry Overview

The global market for non-alcoholic concentrated syrups is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given to the mergers, expansions, acquisitions, and partnerships of the companies, along with new product developments, as strategic approaches adopted by the leading companies to boost their brand presence among consumers.

Non-Alcoholic Concentrated Syrup Market Leaders