Syrup & Flavoring Production in the US - Industry Market Research Report

Ready to drink: Rising competition from juice and flavored waters will hinder industry revenue growth

Producers in the Syrup and Flavoring Production industry have experienced a period of volatile demand in recent years. Revenue from major products has been negatively affected by sluggish demand for downstream products, while trends favoring the creation of customizable beverages at home has increased demand for coffee- and dessert-flavoring syrups. Shifting consumer preferences have engendered a moderate contraction across the industry, with revenue declining at a CAGR of 1.7% to $12.5 billion over the five years to 2023. The recovery from the COVID-19 pandemic is not expected to translate into a broader recovery for the industry, as rising import penetration will contribute to an 0.2% contraction in revenue during the current year.

This industry primarily manufactures flavoring syrup, drink concentrates and related products for soda fountains or beverage manufacturers. This industry excludes manufacturers, bottlers, distributors and retailers of finished beverage products, such as soda or juice.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.