Water soluble.
This graham cracker flavor provides a very lovely "base" to work with. It is not a very concentrated flavor, but has a lasting effect.
Ingredients: Natural & Artificial Flavor, Propylene Glycol, Water, Caramel Color, Corn Syrup,Ethyl Alcohol,Salt.
Note: This flavor contains 'custard' ingredients: Acetoin & Acetylpropionyl. The following link explains the frequent questions & concerns involving custard notes.