(Food-Beverage-News.Com, March 20, 2018 ) The global Non-Alcoholic Concentrated Syrup market is anticipated to grow at 6.70% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 22.32 billion in 2016 and is expected to reach USD 30.87 billion by 2021.
Non-alcoholic concentrated syrup popularly 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-part water.
The syrup is driven by a few major factors such as high demand and popularity of ready-to-serve drinks, changing preferences from carbonated to healthy soft drinks, rapid urbanization, and busy lifestyles, with the changing pace of consumption. However, there are a few factors that are restraining, such as the presence of numerous soft drink alternatives and restricted demand in the niche soft drink market. Squashes/syrup market has good opportunities in the soft drink segment, such as serving these drinks in the catering industry through hotels, railways, and airports.
Market Segmentation Distribution Channel Introduction Specialty Stores Online Stores Super Markets/ Hyper Markets Convenience Store Departmental Stores Others Y-o-Y Growth Analysis, By Distribution Channel Market Attractiveness Analysis, By Distribution Channel Market Share Analysis, By Distribution Channel Type Introduction Fruit Squash Vegetable Squash Herbs & Spices Squash Others Y-o-Y Growth Analysis, By Type Market Attractiveness Analysis, By Type Market Share Analysis, By Type
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Squashes are identified as Asia-Pacific regions specialty drink, hence this region is considered as the largest market for squashes and syrups. Parts of Europe, like Spain, Germany, UK, and Italy also have a significant consumption rate. Other regions are part of the smaller markets for squashes and syrups. Consumption of these drinks is growing at a fast rate in the developing countries of Africa, South America, and Asia-Pacific. Numerous small and big enterprises are operating to serve such niche markets. The growth opportunity is evident in the developing regions such as China, Pakistan, Indonesia, Bangladesh, South Africa, Kenya, and India; due to the high population in these countries. This provides the basis for many big food processing companies to enter such a huge market. Due to the booming soft drink market, and multiple market distribution channels, the popularity of such non-carbonated drinks is expected to help the market grow at a continuous pace. Product launches, innovative drinks and flavors, and mergers and acquisitions with smaller level players have been strong business strategies for the squash market in these regions.
The market is dominated by companies like Pioma Industries Pvt. Ltd, Britvic plc, Humdard Laboratory, P&N Beverages Pvt. Ltd, Golden Circle Ltd., Unilever Ltd, Prigat Pvt Ltd Nichols plc, Suntory Holdings Limited, Coca-Cola Company, COTTEES Pvt. Ltd, Bickford's Australia Pvt. Ltd, and Assis Pvt Ltd.
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