Home Food & Beverages Maple Syrup Market Size, Share and Forecast to 2031

Maple Syrup Market

Maple Syrup Market Size, Share & Trends Analysis Report Based on Type (Sugar Maple, Black Maple, Red Maple), Based on Product (Conventional Maple Syrup, Organic Maple Syrup), By Distribution Channel (B2B, B2C) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRFB762DR
Study Period 2019-2031 CAGR 5.9%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 1.57 Billion
Forecast Year 2031 Forecast Year Market Size USD 2.63 Billion
Largest Market North America Fastest Growing Market Europe
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Market Overview

The global maple syrup market size was valued at USD 1.57 billion in 2022. It is projected to reach USD 2.63 billion by 2031, growing at a CAGR of 5.9% during the forecast period (2023-2031). 

Maple syrup is primarily produced by saps collected in farms located in North America. It is produced from the xylem sap of three of the common species of maple trees. These are the black maple (acer nigrum), the sugar maple (acer saccharum), and the red maple (acer rubrum). The advent of the online retail sector and the rapidly growing mall culture have been among the most critical aspects which have led to high awareness about maple syrup. The sap should be fresh and cold to produce high-quality maple syrup. To achieve this, it has to be frequently gathered and boiled. This underlines the considerable number of operations involved in the production of maple syrup. Many different food products, including French toast, waffles, pancakes, bread rolls, and cakes, are topped with maple syrup. Additionally, maple syrup is used to flavor a variety of foods, including fresh donuts, baked fruits, ice cream, hot cereals, vegetables, and sausages.

Market Dynamics

What are the primary factors driving the Maple Syrup Market?

Rising Demand for Bakery Products

Over the last several decades, there has been an increase in the independent living trend and the number of independent households. This is attributed to the burgeoning urban population, which has steadily adopted the western culture of staying alone. These trends have also witnessed a rise in consumer spending, a majority of which is spent on fine dining and experience-based eating. This has increased the number of coffee shops, thereby driving the demand for baked goods. Coffee shops, in order to gain higher footfall, have also started to offer breakfast combinations, which often include baked products such as pancakes, bread, and cookies, among other items. Maple syrup, owing to its low sugar content, is expected to emerge as an alternative to the sugar syrup and honey and can be used as a flavoring agent in these baked goods. The steady rise in the consumption of bakery products is anticipated to drive the growth of the maple syrup market.

Rising Health Concerns Related to Sugar

The rising health consciousness and wellness trends offer an opportunity for maple syrup to replace sugar as the next preferred sweetener during the forecast period. In addition, the rising popularity of healthy foods such as nuts, cereals, and energy bars, combined with an increased awareness of health, is accelerating the market's expansion. Moreover, the rising incidence of chronic diseases like diabetes, cardiovascular diseases, and obesity has resulted in the rising adoption of maple syrup as an alternative to sugar, which is expected to further stimulate market expansion during the forecast period.

What are the main factors that will slow down the Maple Syrup Market?

Rising Stringent Food Regulations

The introduction of organic and natural maple syrup is anticipated to be hindered by stringent rules and regulations. According to the Food and Drug Administration (FDA), single-ingredient products containing added sugar, such as pure honey, maple syrup, and others, should include the percent Daily Value (DV).

What are the future opportunities for Maple Syrup Market?

Increasing Adoption of Maple Syrup as an Alternative to Sugar

There have been considerable changes in the lifestyles of the people. The Increasing number of desk jobs has resulted in a decrease in mobility, resulting in the reduction of body exercise. These factors have increased the prevalence of lifestyle diseases such as heart attacks, diabetes, and obesity, among other illnesses. These aspects have led consumers to resort to an active lifestyle. There are diet plans available that suggest sugar alternatives. Maple syrup is promoted as an alternative to sugar. A decrease in sugar consumption is likely to lead to the prevention of illnesses such as obesity, diabetes, and other lifestyle diseases. In 2019, around 463 million adults were living with diabetes. This number is anticipated to go as high as 700 million by the year 2045, says the International Diabetes Federation. As the risk of occurrence of such illnesses is on the rise, consumers are likely to prefer variants of maple syrup over traditional sugar, which is expected to boost the growth of the maple syrup market. The total trade of refined sugar is considerably high, and the potential for partial replacement of sugar by maple syrup is significantly high.

Regional Analysis

The global maple syrup market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America region is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period. North America is the largest producer of maple syrup. The presence of Canada makes this region one of the largest producers of maple syrup. Several small farm owners are active in Canada as maple syrup producers. The dominance of one region in this market dictates prices and controls supply and demand across the globe. The U.S. is likely to be the highest importer of maple syrup due to the high consumer income and the easy availability of the product. The market is expected to benefit from the simple product availability brought on by the presence of major market players in the area, including Vermont Maple Sugar Makers and the Federation of Quebec Maple Syrup Producers.

Europe is expected to witness dynamic growth in the maple syrup market during the forecast period. Europe is the second-largest contributor to the market. The leading importers of Canadian maple syrup are France, Germany, and the U.K. In terms of export, Germany, Netherlands, and Denmark are expected to be among the major shareholders of this market. The high consumption of maple syrup and the consumers' high purchasing power are credited with driving regional growth. These elements are anticipated to increase revenue generation.

Asia-Pacific is expected to witness significant growth in the maple syrup market during the forecast period. The demand for natural sweeteners like maple syrup and honey is rising across the region as a result of rising health consciousness among consumers. The booming HoReCa industry in the area is attributed to the rising popularity of foods like waffles, pancakes, fresh toast, and others, all of which are expected to increase demand for maple syrup. Rapid urbanization, rising disposable income, and changing lifestyles are a few of the factors that are helping the region's households consume more maple syrup.

The LAMEA region is expected to witness moderate growth in the global market during the forecast period. The growing confectionary market in UAE and Saudi Arabia will drive the market growth in the region. Economic development in South America and a few African countries will boost the bakery sector in the region, ultimately contributing to the growth of the maple syrup market in the region.

Report Scope

Report Metric Details
Segmentations
Based on Type
  1. Sugar Maple
  2. Black Maple
  3. Red Maple
Based on Product
  1. Conventional Maple Syrup
  2. Organic Maple Syrup
By Distribution Channel
  1. B2B
  2. B2C
    1. Online retailers
    2. Supermarket/Hypermarket
    3. Retail Stores
Company Profiles American Garden Thompson’s Maple Products Bascom Family Farms B&G Foods Inc. Coombs Family Farms. The Maple Treat Corporation Anderson’s Maple Syrup INC. Conagra Brands (Log Cabin) Butternut Mountain Farm Trader Joe’s Erabliere Escuminac inc. Lakanto Les Industries Bernard
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global maple syrup market is segmented by type, product, and distribution channel.

Based on type, the global market is bifurcated into sugar maple, black maple, and red maple.

The sugar maple segment is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period. The demand for bakery and confectionery goods is rising, which is accelerating market expansion. The best tree for making syrup is the sugar maple, which is frequently found in the upper Mid-West U.S., South East Canada, and the North East U.S., which could speed up market expansion. Additionally, during the forecast period, the market growth will be fueled by the rising demand for packaged maple products for domestic use as well as in the food industry.

The black maple segment is expected to witness a higher CAGR. Antioxidants found in black maple are more convenient and healthier and help the market grow faster. The growth of the market is being accelerated by rising income levels, consumers' improving financial situations, and an increase in the consumption of wholesome food products worldwide. Additionally, the rapid urbanization of the world's population and the growing consumer demand for natural and organic products are accelerating market growth.

Based on the product, the global market is bifurcated into conventional maple syrup and organic maple syrup.

The conventional maple syrup segment is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period owing to the relatively lesser audit procedures required and the low pricing.

The organic maple syrup segment is expected to grow at a significant rate due to the increasing awareness about the benefits of choosing organic over conventional maple syrup. Every spoonful of organic maple syrup contains nutrients like riboflavin, zinc, magnesium, calcium, and potassium and is high in antioxidants. Free radical-induced oxidative damage is thought to be one of the mechanisms underlying aging and many diseases. Antioxidants can counteract free radicals and lessen oxidative damage, which may reduce the risk of developing certain diseases. According to studies, maple syrup is a respectable source of antioxidants.

Based on application, the global market is bifurcated into supermarkets/hypermarkets, retail stores, e-commerce, and convenience stores.

The supermarkets/hypermarkets segment is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period. Consumers prefer offline shopping through supermarkets and hypermarkets because it allows them to physically inspect the goods before making a purchase. This includes packaged syrup products. Additionally, the segment is likely to grow in the upcoming years due to easy access to and searching for different maple syrup products through stores. Supermarkets have also grown in popularity in recent years as a result of the availability of a variety of consumer goods under one roof. Additionally, growing urbanization and aggressive pricing are boosting offline channels' popularity in developing economies.

The e-commerce segment is expected to grow at a significant rate. Over the past few years, there has been a noticeable increase in internet usage, which has significantly increased the global e-commerce market and increased consumer demand. Additionally, a number of manufacturers are providing their goods on both their own websites and e-commerce platforms, which is anticipated to fuel market expansion over the course of the projection period.

Market Size Based on Type

Market Size Based on Type
  • Sugar Maple
  • Black Maple
  • Red Maple
  • Recent Developments

    Top Key Players

    Maple Syrup Market Share of Key Players

    Maple Syrup Market Share of Key Players
    American Garden Thompson’s Maple Products Bascom Family Farms B&G Foods Inc. Coombs Family Farms. The Maple Treat Corporation Anderson’s Maple Syrup INC. Conagra Brands (Log Cabin) Butternut Mountain Farm Trader Joe’s Erabliere Escuminac inc. Lakanto Les Industries Bernard Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the Maple Syrup Market?
    Maple Syrup Market size will grow at approx. CAGR of 5.9% during the forecast period.
    Some of the top industry players in Maple Syrup Market are, American Garden, Thompson’s Maple Products, Bascom Family Farms, B&G Foods Inc., Coombs Family Farms., The Maple Treat Corporation, Anderson’s Maple Syrup INC., Conagra Brands (Log Cabin), Butternut Mountain Farm, Trader Joe’s, Érablière Escuminac inc., Lakanto, Les Industries Bernard, etc.
    Asia pacific has held a dominant position in the Maple Syrup Market, with the largest market share.
    The North America region has experienced the highest growth rate in the Maple Syrup Market.
    The global Maple Syrup Market report is segmented as follows: Based on Type, Based on Product, By Distribution Channel


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