Chocolate Syrup Market Share, Size, Trends, Industry Analysis Report, By Type (Conventional and Organic); By Distribution Channel By Region; Segment Forecast, 2022 - 2030

Chocolate Syrup Market Share, Size, Trends, Industry Analysis Report, By Type (Conventional and Organic); By Distribution Channel By Region; Segment Forecast, 2022 - 2030

The global chocolate syrup market size is expected to reach USD 12,631.37 Million by 2030, according to a new study by Polaris Market Research. The report “Chocolate Syrup Market Share, Size, Trends, Industry Analysis Report, By Type (Conventional and Organic); By Distribution Channel; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing consumption of chocolate syrups among millennials and the younger generation because of the rising interest in international flavors and products such as confectioneries and gourmet chocolates coupled with the growing availability of various health-oriented syrups and sweeteners across the globe are major factors expected to drive the growth. Furthermore, increasing penetration for plant-based & organic syrups, which contains naturally sourced ingredients and very less sugar, is expected to fuel the market growth.

For instance, in July 2021, Dabur, India’s leading science-based ayurvedic company, announced the launch of its new range of flavored honey for kids in chocolate and strawberry syrup which contains no added sugar. Through this launch, the company has entered into the syrups and spreads category with a product that is likely to cater the demand for children and kids in India.

However, the increasing prevalence of several types of disorders, such as obesity, and diabetes, along with growing consumer awareness towards preventive healthcare, is likely to be the major factors restraining the growth of the global market over the forecast period. Consumers are getting inclined toward low-calorie and healthy food choices, which has resulted in a decline in the adoption of chocolate syrup.

Moreover, the United States is among the top and prominent consumers of chocolate syrups owing to increased popularity, high versatility, and increasing consumer disposable income and spending capacity in the country. Moreover, the rising expansion of retail outlets by key market companies like The Hershey’s Company in the United States has resulted in high adoption of these syrups and increased research & development activities. For instance, in 2021, the total sales of the Hershey Company were valued at USD 8.9 Million, a significant rise from 2020, with a value of USD 8.1 Million.

As a result of growing consumer health awareness and concerns regarding various food sources, consumers are highly focused on food labels and prefer products with clean-labeled and healthy ingredients. Due to this increased label-conscious population, the demand for organic and natural syrup has been fueled significantly, mainly in developed markets.

Chocolate Syrup Market Report Highlights

Conventional chocolate syrups segment accounted for significant revenue share and expected to retain its position over the forecast period due to growing consumer preferences towards ready-to-eat food products and flavored syrups

Supermarkets/hypermarkets segment held the significant market share in 2021, which is accelerated by availability of wide range of products and growing investment by key market companies on the expansion of their geographical reach

Asia Pacific region dominated the global market and accounted for a significant share, in 2021, owing to increased urbanization and high technological development in manufacturing processes and growing consumer awareness in the region

The global chocolate syrup market is highly competitive in nature with the presence of several large market companies including Nestle, Kroger, Smucker Company, Bosco Products, and Hershey’s Company

Polaris Market Research has segmented the chocolate syrup market report based on type, distribution channel, and region:

Chocolate Syrup, Type Outlook (Revenue – USD Million, 2018 – 2030)

Conventional

Organic

Chocolate Syrup, Distribution Channel Outlook (Revenue – USD Million, 2018 – 2030)

Hypermarkets & Supermarkets

Convenience Stores

Specialty Stores

Online

B2B

Chocolate Syrup, Regional Outlook (Revenue – USD Million, 2018 – 2030)

North America

U.S

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa