Global Flavoring Syrups Market Resilient in 2024 Despite Price Dip
In 2024, the global world market for flavoring syrups and concentrates saw a dip in import prices, while consumption and production increased. The U.S. stock market experienced a decrease, but exports surged.
The average import price for flavoring syrups and concentrates in 2024 stood at $X per ton, marking a X% decline from the previous year. Despite this, total consumption grew at an average annual rate of X% from 2013 to 2024. Notably, Singapore led the price growth with a X% increase over the same period.
Consumption peaked at $X in 2022 but struggled to maintain momentum in 2023 and 2024. Production, however, totaled $X in 2024, growing at an average annual rate of X% since 2013. The U.S. market decreased by X% to $X in 2024.
Exports from the United States saw a boost, with approximately X tons shipped overseas, up by X% from the previous year. This was driven by a X% increase in overseas purchases, reaching X tons, marking the fourth consecutive year of growth. Canada remained the primary destination for U.S. exports, accounting for a X% share.
Looking ahead, flavoring syrup and concentrate production is expected to maintain steady growth, following its peak in 2024.
Despite a dip in import prices, the global stock market today for flavoring syrups and concentrates demonstrated resilience in 2024, with increased consumption and production. The U.S. market faced a setback, but export figures indicate a strong global demand. With Canada as the leading export destination, the market looks set for continued growth in the near future.
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