All Natural Fruit Syrup Flavorings: Market Size
After conducting extensive research, we were unable to provide the size of the all natural fruit syrup flavorings market in North America, as the information is not publicly available. However, we found the size of the flavored syrups market in North America to be worth $14.40 billion, as of 2018. The research brief below outlines the details of our findings.
THE FLAVORED SYRUPS MARKET IN NORTH AMERICA
- The North America Flavored Syrups Market was worth $14.40 billion in 2018 with a growth rate/CAGR of 3.52%, and an estimated market size of $17.12 billion by 2023.
- North America has the largest consumer base for flavored syrups, and the US leads the North America market with a market share of 60%. The major companies dominating the region are Hershey, Tate & Lyle, Kraft Heinz Company, Monin Inc., Kerry Group Plc., Sonoma Syrup, Cedarvale Maple Syrup, and Sensient Technologies Corporation.
FLAVORED SYRUP INDUSTRY TRENDS
- Key players in the industry are inclining towards the production of all-natural and organic flavored syrups due to the growing demand of consumers; more consumers are demanding natural food additives.
- Consumers are becoming more health conscious, thus increasing the demand for natural and organic flavored syrups.
- The high sugar content in flavored syrups is one of the factors hindering the growth of the Flavored Syrups Market.
- Manufacturers are developing organic flavored syrup with natural flavor & color, and they are also developing sugar-free syrups because of health-conscious consumers that are looking to cut down excess sugar intake.
- According to Nielsen, volume sales of products with an organic claim on the package grew 13.1% in the US in 2016, while the products with claims that they are hormone/antibiotic-free, GMO-free or natural grew 21.7%, 12.0%, and 7.5% respectively.
- According to Tate & Lyle, one of the major companies dominating the food and beverages market in North America, there is an increase in the demand for more natural, healthy foods, but consumers will not compromise the taste.
- Kerry Group, another major competitor in the industry, said that the use of natural extracts is their key growth driver because consumers demand reduced sugar and authentic taste. The group also makes use of technologies such as TasteSense™, to help in their natural preservation solutions.
In trying to determine the market size of all-natural fruit syrup flavorings in North America, your research team began by first, carrying out an exhaustive search that included different market reports from sites such as IBIS World, Market Data Forecast, and Market Research Future, but the market size was unavailable. The team, however, came across a market report which provided info for the whole flavored syrups market in North America, and throughout the globe. Also, there was a report which seemed like it might contain relevant information regarding the all-natural fruit syrup flavorings market, but it was behind a paywall. The overview of the report which the team had full access to, provided insights about the increase in the production of all-natural/organic flavored syrups due to the growing demand of consumers, so it might be worth checking out. The team also looked for global and US-specific information regarding the market size of the all-natural fruit syrup flavorings market but did not find any.
With little progress from the previous search strategy, the team decided to try another approach by searching through government websites such as the USDA, the websites of organizations like NAFFS, and media sites like Forbes. The idea was to find reports that would indicate such statistics, but the team found little meaningful information. Your research team searched to see if there would at least be a percentage of the entire market share, which would serve as a proxy to triangulate the answer.
With the information for the flavored syrups market in North America, the team checked the sites and annual reports of major players in the industry, to see if they would provide data about their sales/revenue that pertains to all-natural fruit syrup flavorings, in a bid to triangulate the data. Unfortunately, this information was unavailable, and the company sites visited only provided insights regarding the consumer's demand for organic products.