Published Date : Apr 14, 2016
Syrup is a thick condiment that contains a large amount of sugar and water. Syrups are commonly used across the globe are usually medicated of flavored or sometimes it is an accumulated juice of a plant of fruit. Syrups are widely used in pharmaceuticals as well as food and beverages industry. The addition of syrup adds sweetness to the food and also enhances the flavor of it. Syrups are also added in medicines to make it more delicious.
Some of the major types of syrups that are available in the market are:
The primary use of syrups is done for manufacturing soft drink concentrates, beverage syrups, and toppings. The introduction of new drink products in the global market is changing the preference of consumers further driving the growth of the global syrups market. In addition, the lifestyles diseases are increasing tremendously resulting in high demand for medicines. This is indirectly boosting the demand for syrups in the global market.
On the flip side, the high sugar content present in the artificial sweeteners in syrups is one of the key factors that is hampering the growth of the overall market. The growing awareness regarding the health concerns arising due to high sugar intake is curbing the growth of the market. As a result, several consumers worldwide are changing their preference from carbonated beverages. In addition, the increasing demand for locally produced corn syrup as a substitute to syrups is expected to restrain the growth of the global syrups market in the near future.
The increasing demand for syrups from pharmaceutical and food and beverage industry is one of the major factors that is expected to fuel the growth of the market in the next few years. As a result, several players are attracted towards the market and introducing new products in order to attract consumers and create a leading position for themselves.
Some of the prominent players operating in the global market for syrups are ConAgra Foods Inc., Hershey\'s Symphony, Cedarvale Maple Syrup, Sonama Syrup, Corn Refiners Association, Tropicana OJ, and Barilla Pesto. Several other players are anticipated to enter the market in the next few years.