Non-Alcoholic Concentrated Syrup Market Size, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

  • TBI565280
  • March 10, 2020
  • Global
  • 132 pages
  • Lucintel
                                              

Industry Insights, Market Size, CAGR, High-Level Analysis: Non-Alcoholic Concentrated Syrup Market

The global non-alcoholic concentrated syrup market size was valued at USD 22.62 billion in 2018 and is projected to expand further at a CAGR of 5.9% from 2019 to 2025. Rising consumption of non-carbonated drinks in developed countries including U.S., Mexico, and Canada is expected to boost the product demand over the forecast period. Increasing consumption of vegetable and fruit juices due to rising awareness about maintaining a healthy lifestyle will also fuel product demand. Moreover, advent of new flavors and products with enhanced protein and mineral contents will have a positive impact on the market growth. In addition, rising demand for easy-to-store & -serve non-alcoholic beverages is anticipated to increase the product demand in the coming years. In addition, rising demand in pharmaceutical applications to develop non-alcoholic syrups for infants and kids is likely to propel market growth. Fruit syrup was the dominant product segment in 2018 and will retain its dominant position throughout the forecast years. North America was the dominant regional non-alcoholic concentrated syrup market in 2018. It is anticipated to expand further at a CAGR of 5.9% from 2019 to 2025 due to high production of fruit and vegetable syrups in U.S. However, Asia Pacific is projected to witness the fastest growth rate over the forecast years. This growth is credited to increased product demand and presence of target population in countries including, India, China, and Bangladesh. Moreover, high demand for convenience foods and beverages will contribute to the growth.

Product Insights of Non-Alcoholic Concentrated Syrup Market

Fruit syrups was the dominant product segment in 2018 and is anticipated to expand further at the fastest CAGR of 6.4% from 2019 to 2025. High demand for easy-to-store fruit syrups due to hectic lifestyles is considered as a significant factor for segment growth. The herbs and spices syrup is estimated to be the second fastest-growing segment from 2019 to 2025 owing to rising demand for herbs and spices. In addition, top manufacturers in this segment focus more on providing authentic flavors and ingredients, which will fuel the growth further. For instance, Torani, in 2019, launched pumpkin spice Puremade Syrup. Distribution Channel Insights The supermarkets/hypermarkets segment led the global non-alcoholic concentrated syrup market in the past and will continue to expand further at a steady CAGR over the next seven years. This growth can be attributed to the availability of a number of products offered by different brands, which enables consumers to compare and choose the best product. Developments in terms of structured retail sectors have also been fueling the segment growth. On the other hand, the online segment is projected to witness the fastest CAGR of 6.5% from 2019 to 2025 due to growing popularity of e-commerce platforms, such as Amazon and Flipkart, and extensive usage of internet and smartphones. Moreover, online retailers provide discounts and offers on branded products and doorstep delivery services. These factors are likely to boost the sales through online channels.

Regional Insights of Non-Alcoholic Concentrated Syrup Market

North America was the dominant regional market in 2018 and is anticipated to grow further at a CAGR of 5.9% from 2019 to 2025. This is on account of high production of fruit and vegetable syrups in U.S. In addition, companies are acquiring new segments of the market with their premium products, including concentrated syrups of unique flavors and authentic taste. Asia Pacific is expected to be the fastest-growing market at a CAGR of 6.7% from 2019 to 2025. The regional market has potential growth opportunities for new segments, such as convenience food, as the developing countries in APAC are adopting western culture and lifestyle. Moreover, increasing consumer disposable income levels will contribute to the demand. Non-alcoholic Concentrated Syrup Market Share Insights The industry is highly competitive in nature with the key companies including Pioma Industries Pvt. Ltd., Monin, Britvic Plc., Himdard Laboratory, Nichols Plc, Hindustan Unilever Ltd., Suntory Holdings Ltd., Cottee’s Pvt. Ltd., The Coca-Cola Company, and Elvin Group. These companies follow market strategies, such as M&A and new product development, to acquire a larger market share.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Non-Alcoholic Concentrated Syrup Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global non-alcoholic concentrated syrup market report on the basis of product, distribution channel, and region: Product Outlook (Revenue, USD Million, 2019 - 2030) Fruit Vegetable Herbs & Spices Medical Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030) Supermarkets/Hypermarkets Convenience Stores Online

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Market Segmentation & Scope                  1.2. Market Definition                  1.3. Information Procurement                      1.3.1. Purchased Database                      1.3.2. GVR’s Internal Database                      1.3.3. Secondary Sources & Third-Party Perspectives                      1.3.4. Primary Research                  1.4. Information Analysis                       1.4.1. Data Analysis Models                  1.5. Market Formulation & Data Visualization                  1.6. Data Validation & P
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