Press release
Chocolate Syrup Market Trends, Segment and Future Growth to 2023 - Major Key Players are Nestlé, R. Torre & Co. (Torani), Hershey, Amoretti, Bosco Products, DaVinci Gourmet, H. Fox & Co., Monin, Sonoma Syrup and Tropicana Slim
Chocolate Syrup Market
Chocolate syrup is a sweet and chocolate-flavored sauce. It is usually used for various desserts like ice cream as dessert sauce or topping. It is also used to prepare chocolate milk and chocolate milkshake. Chocolate syrup is available in a different forms, obtaining from a thin liquid that can be drizzled from a bottle to a thick sauce that needs to be spooned onto the dessert.
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The significant drivers are increasing use of chocolate syrup as a toppings or flavor enhancer in desserts like pan cakes, ice-cream, coffee and pastries etc. Coffee shops or cafes are one of the large consumers for chocolate syrup, hence growing coffee shops are expected to boost the industry. However growing inclination towards healthier food items containing less calorie or low sugar is a major restraint.
Chocolate Syrup Market Forecast Report (2018-2023)
Global ChocolateSyrup Market is expected grow at a robust CAGR during the forecast period (2018-2023).
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Chocolate Syrup Market Segmentation
GlobalChocolate Syrup is classified on the basis of Type, Distribution Channel and region. Based on Type the market is classified into Conventional and Organic. Conventional Segment had the large market share and is estimated to dominate during the forecast period. Organic Segment is estimated to show fastest growth owing to changing consumer preferences. Due to rising health benefits of organic products, this segment is estimated to boost the industry. Based on Distribution Channel the market is classified into Hypermarket/Supermarket, Specialty Outlet, Convenience Stores, Grocery Stores and Online Retailing. Hypermarket/Supermarket dominates the market, whereas Online Retailing is approximated to show significant growth owing to increasing internet connections and increasing preference for online shopping.
Geographically, the Global Chocolate Syrup market is classified into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Europe is estimated to have the largest share followed by North America. Asia Pacific is expected to witness considerable development during the forecast period.
Key development
• In May 2018, Ferrero Rocher invested more than Rs 1,500 crores in India and it plans to cross easily Rs 2,000 crore in some time to come. It could also be more depending on opportunity in the market. Certainly, the group is very particular that India is a priority," he added.
• Moreover, the premium chocolate maker is also aiming the mass market by having few affordable products in its offerings.
• Ferrero is also enlarging its distribution network and plans to be available in the top 100 cities soon.
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Major Players:
Major players in the current market are:
• Nestlé
• R. Torre & Co. (Torani)
• Hershey
• The J.M. Smucker Company American Garden
• Amoretti
• Bosco Products
• DaVinci Gourmet
• H. Fox & Co.
• Monin
• Sonoma Syrup
• Tropicana Slim
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