Syrup, Seasoning, Oils, & General Food Global Market Report 2024

The syrup, seasoning, oils, & general food market size has grown strongly in recent years. It will grow from $380.89 billion in 2023 to $408.85 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed during the historical period can be attributed to factors such as culinary traditions, the demand for cooking convenience, agricultural production, the expansion of global food trade, and evolving health and dietary preferences.

The syrup, seasoning, oils, & general food market size is expected to see strong growth in the next few years. It will grow to $526.11 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. Anticipated growth in the forecast period can be attributed to various factors, including the influence of health and wellness trends, a focus on sustainability and eco-friendly packaging, the demand for diverse flavor profiles, the impact of digital marketing and e-commerce, and the emphasis on clean label and natural ingredients. Major trends expected in the forecast period include the rise of plant-based and vegan products, the popularity of artisan and craft flavors, gourmet and premium oils, the use of spice blends and international flavors, and the increasing availability of customized and personalized food products.

The syrup, seasoning, oils, and general food market is poised for growth, primarily driven by the increasing demand for processed food products. Processed food items, such as sauces, seasonings, and pre-packaged meals, offer convenience and time savings to consumers seeking quick and easy meal solutions in today's fast-paced lifestyles. Syrups, seasonings, and oils are integral ingredients in many processed and convenience foods, making them a crucial component of the market. For instance, a survey conducted on US respondents by the US-based nonprofit organization, the International Food Information Council, in October 2021 revealed that 77% of respondents reported occasionally or frequently purchasing processed foods and beverages. This demonstrates the growing demand for processed food products and its positive impact on the syrup, seasoning, oils, and general food market.

The primary product categories within this industry include flavored syrup and concentrate, seasoning and dressing, and fats and oils. Flavoring syrup and concentrate are essentially chemical concentrates designed to replicate a wide range of food and beverage flavors. Various distribution channels are employed to reach customers, including supermarkets, hypermarkets, convenience stores, e-commerce platforms, and other distribution channels. These products are used in a variety of applications, including food processing and others.

The syrup, seasoning, oils, and general food research report is one of a series of new reports that provides syrup, seasoning, oils, and general food statistics, including syrup, seasoning, oils, and general food industry global market size, regional shares, competitors with syrup, seasoning, oils, and general food shares, detailed syrup, seasoning, oils, and general food segments, market trends and opportunities, and any further data you may need to thrive in the syrup, seasoning, oils, and general food industry. This syrup, seasoning, oils, and general food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market is set to benefit from the increasing consumer demand for new and unique flavors. Consumers' desire for novel taste experiences encourages product innovation and the introduction of diverse flavor profiles. This emphasis on customization fosters culinary exploration and competition among brands, ultimately expanding the market. For example, a UK-based flavor manufacturing company, Simpsons Beverage Supply Co Ltd., found that around 80% of coffee enthusiasts personalize their beverages, often using flavored coffee syrups to achieve unique flavor combinations. This rising demand for novel and distinctive flavors is a driving force behind the growth of the syrup, seasoning, oils, and general food market.

The market for seasoning and dressing manufacturing faces challenges due to a limited number of technical experts in farming practices. Agricultural activities and livestock production rely on a variety of technologies, and specific technical knowledge is essential for different products, considering the seasonal nature of agricultural operations. Retaining such technical experts throughout the year can be a challenge, impacting the seasoning and dressing manufacturing market negatively during the forecast period.

To address these challenges, seasoning manufacturing companies are adopting software tools to streamline operations, covering aspects such as product development, formulation, planning, procurement, production, quality, and sales. For instance, BatchMaster Software Pvt Ltd provides Enterprise Resource Planning (ERP) software, enabling businesses to collect, manage, and analyze data from various activities in real-time for efficient functioning. Everson Spice Co. is one example of a company effectively using ERP software to enhance its operations.

Major players in the syrup, seasoning, oils, and general food market are focusing on developing organic syrups to gain a competitive edge. Organic syrups are sweetening agents produced from organically grown and processed ingredients following organic farming standards. These syrups are free from synthetic pesticides, herbicides, and genetically modified organisms (GMOs). For instance, Singing Dog Vanilla, a US-based organic vanilla extract manufacturer, introduced Organic Vanilla Syrup in August 2022, made with double-strength organic vanilla extract. This premium sweetener offers 25% more vanilla content than regular syrups, catering to various dietary preferences as it is non-GMO, Fair Trade Plus+, USDA Organic, vegan, and allergen-friendly. It enhances the flavor of beverages, including coffee, tea, cocktails, and more, making it a desirable choice for consumers seeking organic and high-quality options.

Major companies operating in the syrup, seasoning, oils, & general food market include Archer-Daniels-Midland Company (ADM), Wilmar International Ltd., The Coca-Cola Company, Bunge Limited, Musim Mas Group, Unilever PLC, The Kraft Heinz Company, McCormick & Company, Kikkoman Corporation, Mewah International Inc., Nestle India Ltd., Del Monte Fresh Produce Ltd., Dali Foods Group Co. Ltd., Danone Group, Hangzhou Wahaha Group Co. Ltd., Nongfu Spring, China Haisheng Juice Holdings Co Ltd., Beijing Huiyuan Food and Beverage Co. Ltd., Associated British Foods PLC, Arla Foods amba, Greencore Convenience Foods, LVMH Moët Hennessy Louis Vuitton, Groupe Lactalis, Südzucker AG, Tonnies Group, Dr. August Oetker Nahrungsmittel KG, KHS Group, EAT 'N' JOY Foods Private Limited, Cargill India Pvt. Ltd., The Hershey Company, The J.M. Smucker Company., The Clorox Company Ltd., PepsiCo Inc., General Mills Inc.

Asia-Pacific was the largest region in the syrup, seasoning, oils, & general food market in 2023. Western Europe was the second-largest region in the syrup, seasoning, oils, & general food market. The regions covered in the syrup, seasoning, oils, & general food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the syrup, seasoning, oils, & general food market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The syrup, seasoning, oils, and general food market consists of sales of seasoning products, natural oils, and bakery food. The companies in the food and beverages industry process raw materials into food, pet food, and tobacco products, package and distribute them through various distribution channels to both on-trade and off-trade establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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