Maple Syrup Market Research Report - Forecast till 2030

Maple Syrup Market Research Report Information By Type (Red, Black, Sugar Maple), Grade (Grade A, Processing Grade, Substandard), Application (Beverages, Confectionery, Flavor Enhancer, Dairy), Distribution Channel and Region Forecast till 2030

ID: MRFR/F-B & N/3513-HCR | February 2023 | Region: Global | 110 Pages         

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Maple Syrup Market

Maple Syrup Market Size is anticipated to reach USD 2.18 billion by 2030, registering a CAGR of 6.2% during 2022-2030.

Segmentation
By Type Red maple Black maple Sugar maple
By Grade Grade A Processing grade Substandard grade Others
By Application Food and Beverages Bakery and Confectionary Flavor Enhancer Dairy Frozen Desserts
By Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific Rest of the World
Key Players
Companies Profiled   B&G Foods Inc. (U.S.)    Pinnacle Foods Inc. (U.S.)    The Kraft Heinz Company (U.S.)    The J. M. Smucker Company (U.S.)    Amoretti SpA (Itlay)    DaVinci Gourmet LLC (U.S.)    Monin Inc. (U.S.)
Drivers
Market Driving Forces   awareness of the nutritional power of maple and similar syrups in recent years
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Global Maple Syrup Market Research (Future Insights)


The global maple syrup market size is projected to reach approximately USD 2.18 billion by 2030, at a CAGR of 6.2% from 2022 to 2030.One of the clearest, sweetest, and sugary syrups is maple syrup. It comes from a plant and includes the body's vitamins and amino acids. The maple syrup market is growing faster due to maple syrup's widespread use as a topping in the dairy, cereal, confectionery, and baking industries. Additionally, the highly increased consumption of maple products is likely due to the sophistication, diversity of consumer tastes, and constantly changing consumer behavior. The increased demand for natural and organic products worldwide is anticipated to drive growth over the maple syrup market forecast period. Moreover, the market's expansion is being sped up by rising income levels, improving consumer economic conditions, and an increase in the consumption of healthy food worldwide. Additionally, the industry is expanding due to the increased demand for baked goods such as waffles, cakes, French toast, pancakes, and bread rolls. Additionally, various culinary products employ maple syrup as a natural sweetener, further stimulating market expansion.


COVID-19 Impact Analysis


The COVID-19 pandemic impacted the market regarding supply chain disruption, the inability to distribute maple goods, and the cancellation of promotional activities. The expansion of maple syrup was constrained due to the panic purchase lockup scenario in 2020, which resulted in a supply-demand deficit. However, at the same time, online delivery or availability of maple syrup saved the day and helped the market for maple syrup grow positively. These are a few factors that the COVID-19 epidemic can thank for the maple syrup market growth. 


Maple syrup market Dynamics


As per the maple syrup market report, the rising demand for baked goods, including pancakes, waffles, bread rolls, and coffee cakes, is one of the market's driving forces. Along with increased maple syrup production, driven by the market's demand for the rich minerals manganese, potassium, and calcium maple syrup contains, the baking industry's expanding employment prospects are another driver pushing the market for maple syrup. Another significant driver propelling the global market is the usage of maple syrup as a natural sweetener in numerous food products.


Maple syrup market Drivers



  • Increasing the use of syrup as a flavor


The demand for bakery products like waffles, pancakes, coffee cakes, and bread rolls is expected to expand, which would likely lead to a major increase in the market for maple syrup. The market has been driven by this increasing production rate, which satisfies the rising demand in developing countries. Due to the need for maple syrup as a flavoring ingredient in various culinary products, several maple syrup companies are expanding their product lines. The elements above are anticipated to fuel the market's expansion for maple syrup. The usage of maple syrup is rising due to its sophistication, ability to shift consumer tastes, and higher nutritional content than sugar. This is because customers are becoming more health conscious, and that maple syrup has several health benefits.



  • Increasing use in the food and beverages industry


Market Restraints:



  • The extraction process of maple syrup 


Maple syrup extraction is complex. A particular climate zone is also necessary to extract maple syrup in vast numbers and of good quality. These two elements limit the market expansion for maple syrup.


Market Opportunities:



  • The rise in the R & D


These producers are capitalizing on these prospects by aggressively investing in research and development to create the technologies that have enabled them to produce higher-quality maple syrup that is more nourishing, delicious, and satisfying. They are also working quickly to create technology.


Maple syrup market Segmentation:


Source Insights


The maple syrup market segmentation, based on source, is red maple, black maple, and sugar maple. The maple syrup market growth was prominently high under the sugar maple category in 2021. Market expansion is accelerated by the rising demand for and consumption of bread and confectionery goods. The ideal tree for making syrup is the sugar maple, frequently found in the upper Mid-West United States, Southeast Canada, and the North East United States. This may help the market grow more quickly.


Besides this, the black maple segment was the fastest-growing segment. Antioxidants included in black maple are more convenient and healthier and help the market grow faster. Rising income levels are accelerating the expansion of the market, consumers' improving financial situations, and an increase in the consumption of wholesome food products worldwide. Additionally, the expanding urbanization of the world's population and the growing consumer desire for natural and organic products propel market expansion. In addition, over the next few years, demand for this segment is anticipated to be driven by the growing e-commerce trend. 


Application Insights


The maple syrup market segmentation, based on application is food and beverages, bakery and confectionery, flavor enhancer, dairy, and frozen desserts. The bakery and confectionary segment had a prominent share in 2021. Because many people enjoy topping cakes, pies, muffins, and other baked products with maple sugar granules. However, flavor enhancer was the fastest growing. The flavor enhancer is used in French toast, cakes, waffles, pancakes, and bread rolls, growing the segment.


Distribution channel Insights


As per the maple syrup market research, based on the distribution channel, the global market is divided into Offline and Online. The offline segment had a prominent share in 2021. Consumers prefer offline shopping because it allows them to visually inspect the goods before making a purchase. This includes bottled syrup products. Additionally, the category is projected to develop in the upcoming years due to simple access to and searching for different maple syrup goods through stores.


Additionally, due to the availability of various consumer goods under one roof, malls, convenience stores, and supermarkets have become increasingly popular in recent years. Additionally, growing urbanization and aggressive pricing boost offline channels' attractiveness in developing nations. Besides this, the online segment is anticipated to be the fastest growing. There has been a noticeable increase in internet usage, which has significantly increased the global e-commerce market and consumer demand. Additionally, several manufacturers are offering their goods on their websites and e-commerce platforms, which fuelled the market.


Global Maple syrup market Share, by region, 2021 (%)


Maple syrup Market Share, by Region, 2021 (%)


Maple syrup market Overview, by region


By region, the maple syrup market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia Pacific will exhibit the highest CAGR during the forecast period.


North America


North America was the most extensive market share in 2021. The driving factor for the market was the increased interest in and demand for maple products in this region. The regional sector is also increasing due to the rising demand for healthy food products. Potassium, calcium, and zinc content are high in maple-based organic goods. The sophistication of this area, the diversity of consumer tastes, and ongoing changes in consumer behavior are likely to be to blame for the increase in the consumption of maple products. 


Asia-Pacific


Asia-Pacific was anticipated to encounter the fastest growth rate in 2021. The demand for natural sweeteners like maple syrup and honey is rising globally due to rising health consciousness among consumers. The booming HoReCa industry in the area is attributable to the rising popularity of foods like waffles, pancakes, fresh bread, and others, all of which are expected to increase demand for maple syrup. Rising disposable income, rapid urbanization, and changing lifestyles are a few of the causes helping the region's households consume more maple syrup.


Maple syrup market Competitive Landscape


The market includes tier-1, tier-2, and local players. Strategic alliances between businesses are conceivable. The participating businesses are typically able to expand into new markets or keep and strengthen their positions in current ones, thanks to their combined resources. The resulting enterprises gain from strategic collaborations as well as mergers and acquisitions. For instance, in March 2022, in partnership with American pancake restaurant chain IHOP, Pepsi Co. debuted a limited-edition Maple Syrup variant of its namesake cola brand.


Prominent players in the global market include B&G Foods Inc. (U.S.), The Kraft Heinz Company (U.S.), The J. M. Smucker Company (U.S.), Pinnacle Foods Inc. (U.S.), and Monin Inc. (U.S.) Amoretti SpA (Italy), DaVinci Gourmet LLC (U.S.), among others.


Scope of the Maple syrup market Report


Source Outlook



  • Red Maple

  • Black Maple

  • Sugar Maple


Application Outlook



  • Food and Beverages

  • Bakery and Confectionary

  • Flavor Enhancer

  • Dairy

  • Frozen Desserts


Distribution Channel Outlook



  • Offline

  • Online


Region Outlook



  • North America


    • US

    • Canada

    • Mexico


  • Europe


    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe


  • Asia-Pacific


    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific


  • Rest of the World


    • South America

    • Middle East

    • Africa



Objectives of the Study


The objectives of the study are summarized in 5 stages. They are as mentioned below:


Maple syrup market Forecast & Size:


To identify and estimate the maple syrup market size for the global maple syrup segmented by source, application, and distribution channel by value (in US dollars). Also, to understand the consumption/ demand created by consumers of maple syrup between 2022 and 2030


Market Landscape and Trends:


To identify and infer the drivers, restraints, opportunities, and challenges.


Market Influencing Factors:


To find out the factors which are affecting the sales of maple syrup among consumers


Impact of COVID-19:


To identify and understand the various factors involved in the market affected by the pandemic


Company Profiling:


To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.


Intended Audience



  • Maple syrup producers

  • Raw material suppliers

  • Retailers, wholesalers, and distributors

  • Governments, associations, and industrial bodies

  • Investors and Trade Experts



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 2.18 billion
  CAGR   6.2% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, grade, Application, and Distribution Channel
  Geographies Covered   North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
  Key Vendors   B&G Foods Inc. (U.S.), The Kraft Heinz Company (U.S.), The J. M. Smucker Company (U.S.), Pinnacle Foods Inc. (U.S.), Monin Inc. (U.S.) Amoretti SpA (Italy), DaVinci Gourmet LLC (U.S.),
  Key Market Opportunities   The rise in the R & D
  Key Market Drivers   Increasing use of syrup as a flavor


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Frequently Asked Questions (FAQ) :

The global maple syrup market forecast period is 2022 - 2030

The market is expected to register a CAGR of 6.20% over the next 10 years, according to the global maple syrup market research.

Asia Pacific is expected to register the highest CAGR during 2022 - 2030

North America held the largest share in 2021

The market size is expected to be USD 2.18 billion by 2030.

B&G Foods Inc. (U.S.), The Kraft Heinz Company (U.S.), The J. M. Smucker Company (U.S.), Pinnacle Foods Inc. (U.S.), are the major companies operating in the global market.