Syrup, Seasoning, Oils, & General Food Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Syrup, Seasoning, Oils, & General Food Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • January 2021 •
  • 400 pages •
  • Report ID: 6018950 •
  • Format: PDF
Major companies in the syrup, seasoning, oils and general food market include The Hershey’s Company; Kerry Group; Tate & Lyle; Monin Inc. and Concord Foods.

The global syrup, seasoning, oils, & general food market is expected to grow from $320.8 billion in 2020 to $338.31 billion in 2021 at a compound annual growth rate (CAGR) of 5.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $457.64 billion in 2025 at a CAGR of 8%.

The syrup, seasoning, oils and general food market consists of sales of syrup, seasoning, oils and general food by entities (organizations, sole traders and partnerships) that produce flavoring syrup and concentrate, seasonings and dressings, vegetable oils and general food products. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. The syrup, seasoning, oils and general food market is segmented into flavoring syrup and concentrate; seasoning and dressing and fats and oils.

Asia Pacific was the largest region in the global syrup, seasoning, oils, & general food market, accounting for 55% of the market in 2020. North America was the second largest region accounting for 16% of the global syrup, seasoning, oils, & general food market. Middle East was the smallest region in the global syrup, seasoning, oils, & general food market.

Seasoning manufacturing companies are using software tools to streamline the operations including product development, formulation, planning, procurement, production, quality, and sales. For instance, BatchMaster Software Pvt Ltd provides Enterprise Resource Planning (ERP) software that allows businesses to collect, manage and interpret data from its various activities in real-time, to enable its smooth functioning. Everson Spice Co. is using ERP software to to efficiently manage operations.

Limited number of technical experts for farming practices is likely to hinder the seasoning and dressing manufacturing market during the forecast period. Agricultural activities and livestock production operations require diverse range of technologies to operate. Crop production is mostly seasonal and with the advent of newer technological practices for every crop, agricultural companies need to have different kinds of technology employed for different productions. For this, companies often depend highly on some key employees’ technical knowledge. Since most agricultural products have seasonal demand, technical operations are also seasonal and require specific technical experts for each season. Retaining such technical experts throughout the year and over the years is a challenge and is expected to negatively impact the seasoning and dressing manufacturing market during forecast period.