Chocolate Syrup Market Size Worth $12,631.37 Million By 2030 | CAGR: 4.0%

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.

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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