U.S.: Market for Flavoring Syrups And Concentrates 2024

Market Size for Flavoring Syrups And Concentrates in the U.S.

In 2023, after three years of growth, there was decline in the U.S. flavoring syrup and concentrate market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2013 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Flavoring syrup and concentrate consumption peaked at $X in 2022, and then fell modestly in the following year.

Production of Flavoring Syrups And Concentrates in the U.S.

In value terms, flavoring syrup and concentrate production declined to $X in 2023. The total output value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2022, and then declined in the following year.

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Exports of Flavoring Syrups And Concentrates

Exports from the U.S.

In 2023, the amount of flavoring syrups and concentrates exported from the United States rose to X tons, picking up by X% against 2022. In general, exports, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, flavoring syrup and concentrate exports expanded notably to $X in 2023. Over the period under review, exports, however, saw a abrupt curtailment. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for flavoring syrup and concentrate exports from the United States, with a X% share of total exports. Moreover, flavoring syrup and concentrate exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. The third position in this ranking was taken by Guatemala (X tons), with a X% share.

From 2013 to 2023, the average annual growth rate of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Guatemala (X% per year).

In value terms, the largest markets for flavoring syrup and concentrate exported from the United States were Canada ($X), Mexico ($X) and Guatemala ($X), with a combined X% share of total exports. The Netherlands, Honduras, Australia, the Philippines, South Korea, Colombia, Peru, Brazil, Israel and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Israel, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average flavoring syrup and concentrate export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, recorded a slight descent. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flavoring Syrups And Concentrates

Imports into the U.S.

In 2023, supplies from abroad of flavoring syrups and concentrates increased by X% to X tons, rising for the third year in a row after five years of decline. The total import volume increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, flavoring syrup and concentrate imports declined remarkably to $X in 2023. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then reduced remarkably in the following year.

Imports by Country

In 2023, Canada (X tons) constituted the largest flavoring syrup and concentrate supplier to the United States, accounting for a X% share of total imports. Moreover, flavoring syrup and concentrate imports from Canada exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fivefold. Singapore (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Singapore (X% per year).

In value terms, Singapore ($X) constituted the largest supplier of flavoring syrups and concentrates to the United States, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports. It was followed by Austria, with a X% share.

From 2013 to 2023, the average annual growth rate of value from Singapore amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Austria (X% per year).

Import Prices by Country

The average flavoring syrup and concentrate import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform