Asia Pacific was the largest region in the global flavoring syrup and concentrate market, accounting for 34% of the market in 2019. North America was the second largest region accounting for 27% of the global flavoring syrup and concentrate market. Africa was the smallest region in the global flavoring syrup and concentrate market.
Many manufacturers and producers
are increasingly using natural ingredients and have also reduced the use of
artificial colors and flavors. Health concerns of consumers is increasing the
sales of products with natural ingredients, additives and coloring agents. For
instance, Pizza Hut stopped using artificial flavors and colors in its US
stores in 2015.
Food and Beverage manufacturers
should look to gain a stronger foothold in the increasingly popular healthy
food products segment, either by introducing products with natural additives
and coloring agents or by acquiring smaller firms that produce products with
natural ingredients.
The flavoring syrup and concentrate market consists of sales of flavoring syrup and concentrate by entities (organizations, sole traders and partnerships) that produce flavoring syrup drink concentrates and related products for soda fountain use or for the produce of soft drinks. The companies in the flavoring syrup and concentrate industry process raw materials into flavoring syrup and concentrate, package and distribute them through various distribution channels to both individual customers, soft drink producers and commercial establishments.
The global flavoring syrup and
concentrate market is expected to grow from USD 50 billion in 2019 to USD 51.1
billion in 2020 at a compound annual growth rate (CAGR) of 2.3%. The low growth
is mainly due to economic slowdown across countries owing to the COVID-19
outbreak and the measures to contain it. The market is then expected to recover
and grow at a CAGR of 7% from 2021 and reach USD 61.8 billion in 2023.
For More Information,
Click on the Link Below:-
Global
Flavoring Syrup and Concentrate Market
Related Reports:-
Flavoring
Syrup and Concentrate Manufacturing Global Market Forecast to 2022
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
No comments:
Post a Comment