Non-alcoholic concentrated syrup also known as squash are ready to serve types of drinks that include fruit juice, water, and sugar or sugar substitute. In the undiluted state the syrup is sweet, so it is basically formulated to be mixed primarily with water before drinking. Thus, it can be diluted in any amount to match the taste of consumer, usually at a ratio of part squash to four or five parts water. Over the past few years, the consumption of flavored thick syrups has showcased an upliftment all across the globe. The usage of fruits by industry in order to prepare squash will not only decrease wastage of fruits as well as also add nutrition and sweetness to the drink. The Asia-Pacific market contributed highest in revenue share of global non-alcoholic concentrated syrup market in 2015.
Change in lifestyle and rapid urbanization along with increasing popularity and significant demand for ready-to-serve drinks has strengthened the growth of global non-alcoholic concentrated syrup market over the past few years. Apart from this, changing consumer preferences from carbonated to soft and healthy drinks is anticipated to fuel the growth of non-alcoholic concentrated syrup market over the forecast period. The squashes market has substantial opportunities in soft drink segment due to increasing demand in different industry such as hotels, airport and others. Changing consumer needs and introduction of product variants along with new flavors is also likely to intensify the growth of the market till 2023. On the other hand, availability of various soft drink alternatives may hamper the growth of non-alcoholic concentrated syrup (squash) market during the forecast period. The consumption of non-alcoholic concentrated syrup in future is expected to incline in developing countries of Middle East & Africa, Asia-Pacific and South America due to changing tastes and preferences along with in change in lifestyle.
Non-Alcoholic Concentrated Syrup market has been estimated to be valued at US$ 19.1 Bn by the end of 2016 and is expected to reach US$ 29.3 Mn by 2023, expanding at a CAGR of 6.3% during the forecast period 2016-2023.
Purpose of the Report
The purpose of this strategic research study titled “Global Non-Alcoholic Concentrated Syrup Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 – 2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global non-alcoholic concentrated syrup market.
Target Audience
USP and Key Offerings
The report titled “Global Non-Alcoholic Concentrated Syrup Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 – 2023” offers strategic insights into the global non-alcoholic concentrated syrup market along with the market size and estimates for the duration 2016 to 2023. The said research study covers in-depth analysis of multiple market segments based on types of product ingredients, distribution channel and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading non-alcoholic concentrated syrup vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global non-alcoholic concentrated syrup market, of growth, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.
Non-alcoholic concentrated syrup also known as squash are ready to serve types of drinks that fruit juice, water, and sugar or sugar substitute. In the undiluted state the syrup is sweet, so it is basically formulated to be mixed primarily with water before drinking. Thus, it can be diluted in any amount to match the taste of consumer, usually at a ratio of part squash to four or five parts water. There are various types of squashes such as fruit, vegetable and herbs squashes that are popular all across the globe. Fruit squashes segment captured the highest market share in the total revenue of non-alcoholic concentrated syrup market in 2015. Rising ageing population, increasing health consciousness along with upliftment in consumption of health supplements is likely to expand the revenue share of herbs and spices squashes segment in global non-alcoholic concentrated syrup market over the forecast period. Rising consumption of herbal based product as it is beneficial for general health, cancer, arthritis and alzheimer’s disease is likely to impel the herbal squash growth. The segment is also anticipated to observe stupendous growth in the emerging economies due to increasing awareness related to health drinks as well as emphasis on healthy living.
The use of flavored thick sugar syrups has become widely popular all over the world. The demand for squashes has increased in restaurants, hotels, clubs and others. With a rapid movement of people in urban areas and the living standards of people, there is a significant potential to enhance this industry in small scale sector. On the basis of distribution channel, the non-alcoholic concentrated syrup is bifurcated by supermarket, hypermarket, departmental store, convenience store, online store and others. In 2015, supermarket segment contributed the highest revenue share in global non-alcoholic concentrated syrup market. This segment has captured the highest share due to easy availability of wide range of non-alcoholic drinks at almost all the brick and mortar or physical store. Increasing internet penetration along with hectic lifestyle and rising number of women on workforce is expected to foster the growth of online store segment over the forecast period. Increasing trend of purchasing the products through online channels especially in developing economies is projected to expand the growth of online store segment in Latin America and Middle East & Africa and thus is likely to impel the growth of non-alcoholic concentrated syrup market in these regions till 2023.
Asia-Pacific dominated the global non-alcoholic concentrated syrup market in 2016. It accounted for more than 40% share of global non-alcoholic concentrated syrup market. Increasing urbanization along with change in lifestyle in the region has boosted demand for non-alcoholic concentrated syrup in the region. In addition, introduction of new flavors as well as availability of product variants especially through an online store is the key factor for growth of non-alcoholic concentrated syrup market in Asia-Pacific. North America is known to be the major region contributing in the non-alcoholic concentrated syrup industry due to increasing demand for squash among young population. Some of the countries of Europe such as Germany, the U.K. and Italy also possess substantial consumption rate for squashes. In the next few years, Asia-Pacific non-alcoholic concentrated syrup market is anticipated to contribute significantly in terms of revenue till 2023. Increasing number of health conscious people along with popularity of wide variety of flavors in squashes is likely to foster the Asia Pacific region growth till 2023. Other regions such as Middle East and Latin America are also likely to observe robust growth in non-alcoholic concentrated syrup market worldwide.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Non-Alcoholic Concentrated Syrup market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product Ingredient Type
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Distribution Channel
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
