The Maple Syrup Market size was USD 1.35 billion in 2022. Covid-19's pandemic has affected the production of maple syrup due to labour shortages and restrictions on travel and gatherings. This has led to a reduction in the overall supply of maple syrup. Between 2023 and 2031, the market is projected to grow at a CAGR of 6.80%, from USD 1.44 billion in 2023 to USD 2.28 billion in 2031. The sudden rise in CAGR is attributed to this market growth returning to the pre-pandemic level once the pandemic is over.
Market Scope and Definition:
The maple syrup market refers to the industry that involves the production, processing, distribution, and sale of maple syrup and related products. Maple syrup is a natural sweetener that is made from the sap of maple trees. It is commonly used as a topping for pancakes, waffles, and other breakfast foods, as well as in baking and cooking. The maple syrup market includes both domestic and international producers, as well as small-scale and large-scale operations.
The scope of maple syrup market includes maple syrup production this involves tapping maple trees, collecting sap, and boiling it down into maple syrup. Maple syrup production can be done on a small scale by individual producers or on a larger scale by commercial operations. Several key players in the market are adopting strategies such as mergers, acquisition, partnerships, and collaboration for the expansion their product portfolio. For instance,
- In August 2021 B&G Foods, Inc. company announced that it had reached an agreement to sell its Portland, Maine, manufacturing facility and 13.5-acre waterfront property to the Institute for Digital Engineering and Life Sciences. As part of this agreement, B&G Foods plans to move the manufacturing operations of its B&M, Underwood.
Increasing Advanced Technology production of Maple Syrup is the Driver of the Maple Syrup Market
Advances in maple syrup production technology have made it easier and more efficient for producers to extract sap from maple trees and turn it into syrup. One such advance is the use of tubing systems, which replace the traditional method of collecting sap in buckets. Tubing systems allow producers to collect sap more efficiently, resulting in a larger volume of syrup.
the increased production of maple syrup has led to a larger supply of the product in the market, which can benefit consumers by keeping prices stable and making the product more widely available. However, it is important for producers to maintain the quality of the product and ensure sustainable production practices to avoid oversupply and market saturation.
Growing Demand for Natural Sweeteners Drives the Market Growth
There is a growing demand for natural sweeteners as consumers become more aware of the potential negative health effects associated with artificial sweeteners. Maple syrup is often considered a healthier alternative to refined sugar and high-fructose corn syrup.
The growing awareness of the potential health risks associated with artificial sweeteners has led to an increased demand for natural alternatives like maple syrup. However, it's important to note that while maple syrup offers certain benefits over refined sugar and artificial sweeteners, it still contains sugar and should be consumed in moderation as part of a balanced diet.
B&G Foods is a company that owns and operates various food brands. They offer natural sweeteners like maple syrup under their brand names, including Maple Grove Farms and Grandma's Molasses.
Increased Consumer Preference for Organic and Natural Products
The increased consumer preference for organic and natural food products extends to the maple syrup market as well. Consumers are becoming more conscious of the ingredients and production methods used in the food they consume, including maple syrup.
Consumers are seeking maple syrup products that are certified organic, indicating that they are produced without the use of synthetic pesticides, fertilizers, or genetically modified organisms (GMOs). Organic certification provides assurance to consumers that the syrup is produced following strict organic standards.
Market Restraining Factors:
Limited Geographic Production and High Expensive Price is a Restraining Factor in the Temperature Monitoring System Market
Maple syrup production is primarily concentrated in specific regions, such as North America (especially Canada and the northeaster United States), where the climate and suitable maple tree species are present. This geographic limitation can impact the availability of maple syrup globally and limit market expansion opportunities.
To mitigate price volatility, industry stakeholders, including maple syrup producers and associations, may employ strategies such as inventory management, diversifying markets, and fostering collaboration to stabilize prices and manage supply-demand dynamics. Additionally, consumers' willingness to pay a premium for high-quality maple syrup can provide some stability to the market.
Key Players Strategies in the Market:
- In August 2021 B&G Foods, Inc. announced that it had reached an agreement to sell its Portland, Maine, manufacturing facility and 13.5-acre waterfront property to the Institute for Digital Engineering and Life Sciences. B&G Foods plans to move manufacturing operations of B&M, Underwood, and certain other brands to third-party co-manufacturing facilities and existing B&G Foods manufacturing facilities.
- In December 2020 J.M. Smucker Co. will outline its strategic goals and operational priorities to create long-term, sustainable shareholder value. The company also reaffirmed its outlook for fiscal 2021 and shared long-term financial goals. "The company is implementing a focused strategic plan that includes reshaping the portfolio, streamlining the organization and updating the business model to transform the way the company delivers to customers and consumers and create sustainable shareholder value," said Mark Smucker, president, and chief executive officer.
Maple Syrup Market Players Analysis:
- B&G Foods
• The J. M. Smucker Company
• Federation of Quebec Maple Syrup Producers
• Bascom family farms
• Industries Bernards & Fills Ltee
• Les Industries Bernard & Fils (Canada)
• Maple Joe (Canada)
• LB Maple Treat Corporation (Canada)
• Coombs Family Farms
• Butternut Mountain Farms
• Ferguson Farm Vermont Maple Syrup
• Vermont Pleasant Valley Maples
• Judd’s Wayeeses Farms
Maple Syrup Market Players & Competitor Analysis:
The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2023-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
Key Industry Developments:
- In December 2021: the Quebec Maple Syrup Producers Association announced that it had released more than fifty percent of its syrup supply. This is excellent news for consumers around the world who need the syrup for their culinary creations. This latest syrup release shows that the industry is rebounding after a drop in demand and pandemic-related supply chain issues.
- In February 2021: The Green Organic Dutchman (TGOD), a Canadian-based cannabis company, releases a new high-THC variety of Sugarbush. The new strain was developed using a unique growing method that involved adding maple syrup from Quebec to the company's own living soil.
- In January 2021: Stonewall Kitchen, a Maine-based specialty producer, announces the launch of a new organic maple syrup. This product can be consumed by drizzling the syrup over vanilla ice cream and coffee.
The report will cover the qualitative and quantitative data on the global maple syrup market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
Report Scope and Segmentations:
Estimated Forecast Year
CAGR of 6.80% from 2023 to 2031
By Source, By Distribution Channel, By Application, By Category, and By Region
- Sugar Maple
- Black Maple
- Red Maple
By Distribution Channel
- Specialty Stores
- Online Sales Channels
- Food and Beverages
- Bakery and Confectionary
- Flavour Enhancer
- Frozen Desserts
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Maple Syrup Market Segmentation Analysis:
The market scope is segmented on the basis of by source, by distribution channel, by application, by category and by region.
Based on the source the market is segmented into sugar maple, black maple, and red maple
Sugar Maple: The sugar maple (Acer saccharum) is indeed the most widely used tree species for producing maple syrup. It is highly valued for its sap, which has a high sugar content and produces a rich and flavourful syrup. Sugar maple trees are predominantly found in North America, particularly in the northeaster United States and eastern Canada.
Red Maple: Red maple (Acer rubrum) is used for maple syrup production, it typically has a lower sugar content compared to the sugar maple (Acer saccharum), which is the most used species for syrup production. The sugar maple's higher sugar content and desirable flavour profile often make it the preferred choice for maple syrup production.
By Distribution Channel
Based on the distribution channel of the market is segmented into Supermarkets/ Hypermarkets, Specialty Stores, Online Sales Channels and Others.
Supermarkets/Hypermarkets: Supermarkets and hypermarkets play a significant role in the distribution and sales of maple syrup products. They are major retail channels where consumers can easily find a wide variety of maple syrup brands, grades, and packaging options.
Online Sales Channels: In the maple syrup market, there are several online sales channels where consumers can purchase maple syrup products. Platforms like Amazon, eBay, and Walmart offer a wide range of maple syrup products from various sellers. These marketplaces provide convenience and a diverse selection for customers to choose from.
Based on application the market is segmented into Food and Beverages, Bakery and Confectionary, Flavour Enhancer, Dairy and Frozen Desserts.
Food and Beverages: The Food and Beverages segment is expected to have the largest share in the maple syrup market. Maple syrup is commonly used as a topping for pancakes and waffles. Pancake and waffle syrups, often flavoured with maple, account for a significant portion of the maple syrup market. These syrups are typically designed to have a similar taste profile to maple syrup but may contain a blend of ingredients and flavours.
Frozen Desserts: Gelato is a frozen dessert like ice cream but with a denser and creamier texture. Maple syrup gelato is made by infusing the base with maple syrup, resulting in a smooth and rich dessert with a pronounced maple flavour.
North America: North America is a significant player in the maple syrup market, being home to major maple syrup-producing regions such as Canada and the northeastern United States. Canada is the largest producer of maple syrup in the world, with the province of Quebec being the leading producer.
Europe: Europe has witnessed an increasing demand for maple syrup in recent years, driven by changing consumer preferences and the growing popularity of natural and organic food products. European consumers have developed a taste for maple syrup as a sweetener and flavour enhancer in various dishes, beverages, and confectionery products.
Asia-Pacific: The Asia-Pacific region, including countries like Japan, South Korea, China, and Australia, has shown an increasing interest in maple syrup. As global culinary trends spread, more consumers in this region are becoming aware of maple syrup and its uses in various dishes and beverages.
Middle East and Africa: The Middle East and Africa region has a relatively smaller presence in the global maple syrup market compared to North America. However, there is a growing interest in maple syrup among consumers in this region.
The report also helps in understanding Global Maple Syrup Market dynamics, structure by analyzing the market segments, and project the Global Maple Syrup Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Maple Syrup Market make the report investor’s guide.
Global Maple Syrup Market Regional Analysis:
North America accounted for the highest xx% market share in terms of revenue in the Maple Syrup market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Maple Syrup. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Maple Syrup companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Maple Syrup Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Maple Syrup Market Report is also available for below Regions and Country Please Ask for that
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Points Covered in the Report:
The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Reasons to Purchase:
To gain insightful analyses of the Maple Syrup market and have comprehensive understanding of the global market and its commercial landscape.
Assess the production processes, major issues, and solutions to mitigate the development risk.
To understand the most affecting driving and restraining forces in the market and its impact in the global market.
Learn about the Maple Syrup market strategies that are being adopted by leading respective organizations.
To understand the future outlook and prospects for the Maple Syrup market. Besides the standard structure reports, we also provide custom research according to specific requirements.
Research Scope of Maple Syrup Market:
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2031
- Representation of Market revenue in USD Million
Maple Syrup Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: