Zero-Sugar Syrups Market Forecast and CAGR
According to the latest research by Persistence Market Research, the zero-sugar syrups market is set to witness a significant growth rate during the forecast period. The market for sugar-free syrups will be driven by increasing demand for different varieties of syrups from the food processing and foodservice industry.
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What are the Factors Driving the Demand for Zero-Sugar Syrups?
One of the major factors influencing the consumer demand for zero-sugar syrups is the rising demand for taste-enhancing products which contain less or no sugar. Consumers are shifting towards sugar-free products with increasing health consciousness. The prevailing diseases and consumer awareness about the side effects of consuming food containing excess sugar content.
The processed foods are gaining popularity among the young population around the world due to their busy lifestyle. There will be a need for more and more variety of ingredients with the increasing need for grab-and-go foods.
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What is the Impact of Covid-19 on Zero-Sugar Syrups Market?
Zero-sugar syrups have a wide range of applications in the food & beverage industry, which has faced many challenges due to the pandemic. The supply chain disruption made it difficult for manufacturers to produce and distribute their products. The consumer preferences were shifted towards the essential products which also decreased the demand for syrups.
The shutdown of bakeries, hotels & restaurants, and many other small-scale food processing industries will impact the growth of the zero-sugar syrups market. But, as governments across the world have relaxed the lockdown restrictions, the demand for health food products and ingredients is set to increase. The consumers' demand for sugar-free, low-calorie food products will aid the zero-sugar syrups market growth.
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What are the Opportunities for Key Players in the Zero-Sugar Syrups Market?
The increasing use of zero-sugar syrups for enhancing the taste of food products while controlling the sugar level will bolster sales growth. The use of syrups both as a functional and nutritional ingredient by the consumers is encouraging the manufacturers to produce more innovative syrups.
Strategic investments in product innovation, expansions, development of product lines, and collaborations will provide more opportunities for key manufacturers to improve their sales. The zero-sugar syrups market will further see an improvement in sales with new products and flavors being introduced into the market.
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North America Market Outlook for Zero-Sugar Syrups
North America is one of the largest markets for zero-sugar syrups owing to the demand for convenient and easy snack options from the consumers in this geography. The increasing spending capabilities of the population in the U.S. and Canada will have a positive impact on the zero-sugar syrups market growth.
The consumers in this region shifting towards the low calorie, organic and plant-based diet due to the prevailing diseases. This will fuel the demand for sugar-free ingredients including syrups and the manufacturers can capitalize on this consumer demand.
Asia Pacific Market Outlook for Zero-Sugar Syrups
The consumers in the region are looking for sugar-free products to include in their diets with increasing health concerns like obesity, heart and kidney problems. The increasing diabetic population in the low and middle-income countries is leading the people to move towards zero-sugar products.
People have become aware that diabetes is one of the major causes of blindness, kidney failure, heart attacks, stroke, and lower limb amputation. To avoid the risk of diseases people are choosing a healthy diet, maintaining body weight, and regular physical activity. With the shift in the lifestyle of people, the sales of zero-sugar syrups are expected to rise in the near future.
Who are the Key Manufacturers of Zero-Sugar Syrups?
Some of the major manufacturers in the Zero-Sugar Syrups are
- The Hershey Company
- Kerry Group
- Skinny Mixes LLC
- R. Torre & Company Inc.
- The J. M. Smucker Company
- Pyure Brands LLC
- Maple Grove Farms
- Tate & Lyle
- Monin Incorporated
- Beyond Better Foods LLC
The manufacturers in the zero-sugar syrups market are offering multiple flavors for application in different food products that suit the consumer's needs.
- Food & Beverage
- Bakery & Confectionery
- Dairy Products
- Frozen Desserts
- Foodservice industry
By Distribution Channel
- Business to business
- Business to Consumer
- Ecommerce sites
- Convenience stores
- Specialty stores
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- The Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Zero-Sugar Syrups Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.