(MENAFN- GlobeNewsWire - Nasdaq) The Global Lychee Syrup market Size was Valued at USD 528.5 Million in 2023 and the Worldwide Lychee Syrup Market Size is Expected to Reach USD 964.7 Million by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Monin Inc., Torani, DaVinci Gourmet, Sonoma Syrup Co., Giffard, Sweetbird, Reàl Cocktail Ingredients, Teisseire, B.G. Reynolds, GREEN WORLD import EXPORT CO., LTD, 1883 Maison Routin, and Others Key Vendors.
New York, United States , Sept. 02, 2024 (GLOBE NEWSWIRE) -- The Global Lychee Syrup Market Size is to Grow from USD 528.5 Million in 2023 to USD 964.7 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 6.20% during the projected period.
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The lychee (Litchi chinensis Sonn), a significant sub-tropical evergreen fruit crop in the Sapindaceae family, has been grown in Southern Guangdong State for thousands of years. China is regarded as its birthplace. Its production is probably restricted to a few areas of the world due to its severe climate requirements. In the eighteenth century, the lychee plant was introduced to India through Burma, and it soon spread throughout the region. China and India produce 91% of the lychees produced worldwide, even though they are primarily sold domestically. India grows 428,900 metric tonnes of lychee on 56,200 hectares annually. Because tropical and exotic flavors are getting more and more popular, the lychee syrup market is expanding significantly. The expansion of the food and beverage sector, notably in the hospitality and specialty drink sectors, is another major factor driving the market. Bars and restaurants frequently experiment with their menus to entice customers, and lychee syrup is a popular addition to specialty drinks and upscale food options. An allergy response could result from lychee syrup. Overindulgence in litchi can cause swelling, itching, redness, and breathing issues, which are detrimental to the market.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the " Global Lychee Syrup Market Size, Share, and COVID-19 Impact Analysis, By Nature (Organic and Conventional), By Packaging (Bottles, Cans, and Others), By Distribution Channel (On-Trade and Off-Trade), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The conventional segment accounted for the largest revenue share of the lychee syrup market during the projected timeframe.
Based on the nature, the lychee syrup market is divided into organic and conventional. Among these, the conventional segment accounted for the largest revenue share of the lychee syrup market during the projected timeframe. Because of the growing demand for exotic and tropical fruit flavors in the food and beverage industry, the market for conventional lychee syrup is expanding. With its flowery and sweet flavor character, lychee has become more and more popular.
The bottles segment is anticipated to grow at the highest CAGR of the lychee syrup market during the projected timeframe.
Based on the packaging, the lychee syrup market is divided into bottles, cans, and others. Among these, the bottles segment is anticipated to grow at the highest CAGR of the lychee syrup market during the projected timeframe. This is a result of growing customer demand for goods that are easy to use and convenient in both drinking and culinary contexts. Because bottle packaging has better preservation and storage qualities and keeps the syrup's flavor and freshness longer, it is recommended. Additionally, bottles are ideal for home use, restaurants, and cafés who wish to add a constant lychee taste to their foods and drinks because of their user-friendly format, which allows for precise pouring and dosing.
The off-trade segment dominates the market with the highest market share of the lychee syrup market during the projected timeframe.
Based on the distribution channel, the lychee syrup market is categorized into on-trade and off-trade. Among these, the off-trade segment dominates the market with the highest market share of the lychee syrup market during the projected timeframe. Due to its accessibility in supermarkets, retail establishments, and online marketplaces, along with its versatility in desserts, mixed drinks, and Asian-inspired cuisine, lychee syrup is appreciated among a wide variety of consumers through off-trade distribution channels. Furthermore, the rise in home mixology and cooking trends which are being exacerbated by social media effects is significantly increasing off-trade sales.
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North America is expected to hold the largest share of the lychee syrup market over the forecast period .
North America is expected to hold the largest share of the lychee syrup market over the forecast period. The primary drivers propelling the lychee syrup market in North America are the growing trend toward health-conscious eating and the demand for unique ingredients in utilizes and culinary creations. The desire for premium and unique flavors among consumers is one of the other elements driving this growth. Due to consumer demand for novel and intriguing flavors, lychee syrup, with its flowery and sweet taste, has grown in popularity for dessert and beverage applications. As a result, the demand for lychee syrup has grown.
Asia Pacific is predicted to grow at the fastest pace in the lychee syrup market during the projected timeframe. Lychee syrup is in high demand due to the region's preference for fruit-based flavorings and sweeteners in both traditional and modern cooking. Its distinctive and refreshing flavor profile is highly valued in creative mixology and beverage creation, which is another factor contributing to its rapid growth. Many Asian nations appreciate the popular fruit lychee.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the lychee syrup market are Monin Inc., Torani, DaVinci Gourmet, Sonoma Syrup Co., Giffard, Sweetbird, Reàl Cocktail Ingredients, Teisseire, B.G. Reynolds, GREEN WORLD IMPORT EXPORT CO., LTD, 1883 Maison Routin, and others., and others.
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Recent Developments
In June 2024, In Japan, McDonald's introduced lychee milkshakes as part of its new Asian Sweets line, even though the chain usually incorporates Japanese elements into its dessert offerings.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the lychee syrup market based on the below-mentioned segments:
Global Lychee Syrup Market, By Nature
Global Lychee Syrup Market, By Packaging
Global Lychee Syrup Market, By Distribution Channel
On-Trade Off-Trade Hypermarkets/Supermarkets Online Others
Global Lychee Syrup Market, By Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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