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Maple Syrup Market

Maple Syrup Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Food & Beverage

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Maple Syrup’s Gastronomic Delight Secures a Win as a Natural Sweetener 

Maple syrup, derived from the sugary sap of the maple tree, is slightly sweet, transparent, and available in light golden to darker amber colours. According to U.S. Food and Drug Administration (U.S. FDA), maple syrup is defined as the liquid food produced by concentrating and heat-treating sap from the maple tree. The solid content of the finished maple syrup shall not be less than 66% by weight.

Maple syrup contains nutritional components such as vitamins, amino acids, and organic acids amongst others. Sucrose is the primary content of maple syrup along with glucose, fructose and complex carbohydrates in lesser amounts. Thus, maple syrup is perceived as a plant-derived natural sweetener.

In recent times, concerns about obesity and related health problems have triggered demand for natural sweeteners. The market has also received momentum from the clean-label movement in the food industry, which is making consumers second guess their dietary choices. All of these factors, especially the fact that maple syrup is a natural sweetener, is expected to give the global maple syrup market a significant boost between 2020 and 2025.

Natural Flavouring Tag Widens Scope for Maple Syrup

Maple syrup also acts as a natural flavouring agent. Various maple syrup manufacturers are thus offering it as a flavouring ingredient to food product manufacturers. For instance, Butternut Mountain Farm maple syrup is a flavouring agent for the confectionery industry.

As a flavouring agent, maple syrup finds its application in various food products such as waffles, cakes, bread rolls, coffee alcoholic beverages, and breakfast cereals amongst others. Food manufacturers are also introducing maple-flavoured products in breakfast cereals, bakery goods, and alcoholic beverages categories. This has increased the application scope for maple syrup in the food and beverages industry, fuelling the market growth. The rising popularity of maple syrup has also resulted in increased demand and hence better returns to the producers.

Climate Change Gets Real for Maple Syrup Producers

Analysts anticipate that climate change is likely to negatively impact maple syrup production just as much as it is likely to impact farm produce. Maple syrup tapping relies on season change. As the weather warms up from winter to spring, maple trees thaw to let out their sap through trunks. Maple syrup production heavily relies on the previous year’s weather condition to generate the sugar content in the sap while its flow depends on the freeze-thaw cycle. As the global climate warms up, maple syrup production faces threat to production, challenging the industry to adapt with variable tapping seasons.

Bakeries Devour Maple Syrup to be Key Consumers

The global maple syrup market is segmented on the basis of nature, application, sales channel, and region. Based on application, the bakery segment accounted for the largest value share in 2018. Increased consumer preference towards the consumption of maple syrup with homemade recipes is expected to boost the segment growth over the forecast period.

However, breakfast cereal and alcoholic beverages are expected to attain substantial growth over the forecast period. Persistent launch of maple-flavoured breakfast cereals especially in the U.S. is expected to support the segment growth during the forecast period. For instance, in 2019 a food giant General Mills launched a maple-flavoured breakfast cereal under the brand name of Maple Cheerios.

Based on sales channel, the supermarket segment is expected to generate the highest value share over the forecast period. Mushrooming supermarkets in neighbourhoods, adoption of home deliveries by supermarket, and wide range of products available on the shelf are expected to drive this segment in the forecast period.

Asia Pacific and Europe to Reflect Potential Growth in Maple Syrup Market

Maple syrup is one of the oldest agricultural commodities of Canada. Globally, the country is the largest producer and exporter of maple syrup accounting for more than 65% of the global production. Majority of maple syrup in Canada is produced in the province of Quebec.

In 2015, more than 90% of the country’s maple syrup was produced Quebec. Meanwhile, the U.S. is the world’s second-largest producer of maple syrup. The country also holds a potential share in terms of value consumption. Increased usage of maple syrup in homemade bakery products coupled with rising demand for maple syrup as a flavouring ingredient is expected to fuel the market demand in the region.

In recent years, maple syrup has also gained popularity in Asia Pacific and Europe. Japan and Australia are also expected to reflect favourable growth in the near future. Japan uses maple syrup widely as sweet condiment in food products, which is driving the market growth in the country. For Canada, these two countries remain amongst of the top five export destination for maple syrup.

Global Maple Syrup Market: Key Players

Some of the major players considered in the report are Federation of Quebec Maple Syrup Producers, The Kraft Heinz Company, Les Industries Bernard et Fils Ltee, Canadian Maple Company, Ontario Maple Syrup Producers Association, Bascom Maple Farms Inc, Thompson's Maple Products, B&G Foods, Canadian Organic Maple Co. Ltd, and Citadelle Camp.

Key Elements Included In The Study: Global Maple Syrup Market

  • Maple Syrup Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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