Chocolate Syrup Market Report 2025

The chocolate syrup market size has grown steadily in recent years. It will grow from $7.37 billion in 2024 to $7.68 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to invention of chocolate syrup, industrialization of production, marketing and branding initiatives, diversification of applications, development of varieties and flavors.

The chocolate syrup market size is expected to see steady growth in the next few years. It will grow to $9.15 billion in 2029 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to health consciousness and product innovation, expansion into emerging markets, global economic factors, changing consumer preferences and demographics, environmental sustainability initiatives. Major trends in the forecast period include functional and indulgent variants, plant-based and vegan varieties, sustainable and ethical sourcing, convenience and on-the-go packaging, flavor innovation.

The chocolate syrup market is expected to experience growth, propelled by the increasing number of coffee shops and cafes. Coffee shops and cafes, establishments offering a range of beverages, baked goods, and light meals alongside coffee, utilize chocolate syrup to add a distinct and delightful flavor to their offerings. The syrup not only sweetens and enhances the creaminess of coffee but also enriches the beverage's inherent flavor. A report by Pearl Lemon Cafe in 2023 reveals that the UK boasts over 8,000 coffee shops, with approximately 16% of customers visiting daily and around 80% at least once a week. The burgeoning presence of coffee shops and cafes stands as a driving force behind the growth of the chocolate syrup market.

The growth of the chocolate syrup market is further fueled by the increasing trend of home baking and cooking. Home baking and cooking involve preparing meals and baked goods within a private residence for personal consumption. Chocolate syrup, being a versatile ingredient, finds use in home cooking and baking, allowing individuals to explore creativity and experiment with new recipes. A survey by FONA International Inc. in February 2022 indicates that 73% of customers feel successful when cooking at home. This trend of home-based culinary activities contributes to the growing demand for chocolate syrup as a key ingredient in various homemade treats.

Increasing investment is a prominent trend gaining traction in the chocolate syrup market. Major companies within this sector are concentrating on product innovation to bolster their market presence. For instance, in February 2024, Nestlé, an India-based food company, invested $719 million to upgrade its manufacturing facilities. This investment aims to enhance production capabilities and improve efficiency to meet the rising consumer demand for Nestlé’s products in India. Nestlé India’s significant investment highlights its commitment to innovation and growth in the Indian market, further solidifying its status as a leader in the food and beverage industry.

Major companies in the chocolate syrup market are increasingly adopting a strategic partnership approach to enhance their product offerings and market reach. Strategic partnerships involve companies leveraging each other’s strengths and resources for mutual benefit and success. For example, in May 2022, Blommer Chocolate Company, a US-based chocolate manufacturer, partnered with DouxMatok, an Israel-based company specializing in sugar-based products, to launch innovative offerings. This collaboration focuses on developing novel chocolate and confectionery coatings, initially starting with chocolate-flavored chips. The product line has since expanded to include various coatings that facilitate applications in a wider range of food uses, such as panning, enrobing, and molding. This partnership exemplifies how companies are working together to drive innovation in the chocolate syrup market.

In June 2023, Puratos, a Belgium-based provider of ingredients for bakers and chocolatiers, acquired Foley's Chocolates, significantly enhancing its market share and manufacturing capabilities in North America. This acquisition positions Foley's as the second-largest chocolate producer in Canada, allowing Puratos to broaden its chocolate portfolio with innovative plant-based and health-focused products. By integrating Foley's expertise and offerings, Puratos aims to meet the growing consumer demand for sustainable and health-conscious chocolate options while solidifying its presence in the North American chocolate market.

Major companies operating in the chocolate syrup market include The Hershey Company, Nestlé S.A., Bosco Products Inc., The J.M. Smucker Company, Walden Farms International Inc., Amoretti Brothers LLC, Gold Pure Food Products Co., Hollander Chocolate Company, Ah!Laska Inc., Torani Inc., American Garden, Sonoma Syrup Co., Monin Inc., DaVinci Gourmet LLC, Santa Cruz Natural Incorporated, The Kroger Company, Beyond Better Foods LLC, Ghirardelli Chocolate Company, Stonewall Kitchen LLC, Fox's U-Bet Co., Sanders Candy LLC, King's Cupboard, R. Torre & Company Inc., The Wilbur Chocolate Company, The Chocolate Shoppe, Mars Inc., Cargill Inc., Blommer Chocolate Company, Puratos Group, Guittard Chocolate Company.

Asia-Pacific was the largest region in the chocolate syrup market in 2024. Asia-Pacific is expected to be the fastest-growing region in the chocolate syrup market report during the forecast period. The regions covered in the chocolate syrup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the chocolate syrup market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Chocolate syrup is a sweet condiment featuring a chocolate flavor, typically crafted from unsweetened cocoa, sugar, and water. It serves as a sauce or topping, adding richness to various desserts.

The primary categorizations of chocolate syrups include conventional and organic variants. Conventional chocolate syrup, made with ingredients such as unsweetened chocolate or cocoa, sugar, and water, is utilized to enrich the taste of dishes such as pancakes, waffles, and cakes as a delectable topping. These syrups find major applications in household or retail settings, food service establishments, and food processing industries. They are distributed through various channels including hypermarkets or supermarkets, convenience stores, specialty stores, online platforms, and business-to-business (B2B) channels.

The chocolate syrup market research report is one of a series of new reports that provides chocolate syrup market statistics, including the chocolate syrup industry global market size, regional shares, competitors with a chocolate syrup market share, detailed chocolate syrup market segments, market trends and opportunities, and any further data you may need to thrive in the chocolate syrup industry. This chocolate syrup market 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 chocolate syrup market consists of sales of commercial syrups, natural syrups, organic syrups, and vegan chocolate syrups. 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.

This product will be delivered within 3-5 business days.