USD 1.58 billion
Maple Syrup Market Size, Share, Growth Analysis, By Source(Red Maple, Black Maple, Sugar Maple), By Distribution Channel(Offline and Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2317 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
61
|Figures:
75
Maple Syrup Market Insights
Global Maple Syrup Market size was valued at USD 1.58 billion in 2022 and is expected to rise from USD 1.68 billion in 2023 to reach a value of USD 2.72 billion by 2031, at a CAGR of 6.2 % during the forecast period (2024–2031).
The market growth is being driven by the rising use of maple syrup as a topping in the dairy, cereal, bread, and confectionery industries. Furthermore, the sophistication, diversity in tastes, and ongoing changes in consumer behavior are probably to blame for the considerable increase in the consumption of maple products. The market is expected to rise due to the rising demand for natural and organic products around the world. The market's growth is also being sped up by increasing income levels, consumers' bettering financial positions, and a rise in the consumption of healthful food products worldwide.
In addition, the food service sector is increasing in response to the growing demand for baked products such as bread rolls, cakes, French toast, pancakes, and waffles. A third factor accelerating market expansion is the usage of maple syrup as a natural sweetener in a variety of food products. Maple syrup is a syrup made or obtained from the xylem sap of maple trees. The growing consumer desire for natural and organic sweeteners has resulted in higher product adoption, which is expected to drive market growth over the forecast period. Furthermore, the rising incidence of chronic conditions such as diabetes, cardiovascular disease, and obesity has led to an increase in the use of maple syrup as a sugar alternative, which is expected to drive market growth in the forecast years.
Increased health consciousness and wellness trends over the projection period provide maple syrup a chance to become the next popular sugar alternative. Furthermore, rising consumption of healthy snacks such as nuts, cereals, and energy bars, as well as enhanced health consciousness, are propelling market growth. Stringent government guidelines in countries such as the United States, Canada, Germany, the United Kingdom, and France are expected to keep these products of high quality. The established government guidelines and rules ensure that the quality of products meets sanitary consumption standards. However, the illicit market for maple products and the strict quota system are stifling industry expansion.
US Maple Syrup Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Online
Growth Rate
6.2% CAGR
Global Maple Syrup Market ($ Bn)
Country Share for Asia Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Maple Syrup Market Segmental Analysis
The global maple syrup market is segmented based on source, distribution channel, and region. In terms of source, the market is segmented into red maple, black maple, sugar maple. In terms of distribution channels, the market is classified into offline, and online. Regionwise, the global maple syrup market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Global Maple Syrup Market Analysis by Source
The sugar maple segment accounted for more than 67% of the market in 2021 and is predicted to grow at a CAGR of 5.7% from 2023 to 2030. Market growth is being accelerated by rising demand for bakery and confectionery items. Sugar maples are prevalent in the North East United States, South East Canada, and the upper Mid-West United States, and they are the best tree for producing syrup, which may boost market expansion. Furthermore, rising demand for packaged maple products for home consumption and the food industry will drive market expansion throughout the forecast period.
The black maple sector provided around 19% of sales in 2022 and is predicted to increase at the quickest pace of 7.4% throughout the projection period. Black maple is more convenient, healthier, and includes antioxidants, all of which help to boost market expansion. Increased income levels, increasing consumer economic conditions, and rising consumption of balanced and nutritious food products globally are propelling market expansion.
Global Maple Syrup Market Analysis by Distribution Channel
In 2022, the offline channel generated more than 77% of the global maple syrup market's revenue. Consumers prefer to buy consumer goods, food, and packaged syrup products offline, where they can directly inspect the product quality. Furthermore, ease of access to and searching for various maple syrup items in stores is likely to fuel segment expansion in the coming years.
Furthermore, supermarkets, convenience stores, and shopping malls have grown in popularity in recent years due to the availability of a diverse range of consumer items under one roof. Furthermore, increased urbanization and competitive pricing are propelling offline channels' popularity in developing economies.
Global Maple Syrup Market By Distribution Channel
To get detailed analysis on other segments, Request For Free Sample Report
Maple Syrup Market Regional Insights
In 2022, Asia Pacific contributed the most—more than 60%—to the global Maple Syrup market. This can be due to consumers' increased predisposition for living healthy lifestyles and rising disposable money, which will in turn feed demand for meals that are nutritious and wholesome. Countries like China, India, and Japan are consuming more fish food products as a result of the growing need for fish food products that are high in protein, which is promoting industrial growth in this sector. This has further shown a rise in the production of mollusc products, especially in China and India, which have substantial populations of food consumers.
North America is likely to emerge as fastest growing in the global market with a revenue share of more than 43%. The growing popularity and demand for maple products in this region is driving market growth. Furthermore, increased consumption of healthy and nutritious food products is boosting regional market expansion. Maple products are natural and high in potassium, calcium, and zinc. The rising consumption of maple products in this region is most likely due to the complexity, variety of customer tastes, and continually changing consumer behavior.
Global Maple Syrup Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Maple Syrup Market Dynamics
Global Maple Syrup Market Drivers
Increasing Demand for Natural and Organic Sweeteners
- The demand for natural and organic sweeteners is increasing due to growing consumer awareness about the health benefits of natural and organic products. Maple syrup is considered a healthy alternative to artificial sweeteners, which is driving its demand in the market.
Global Maple Syrup Market Restraints
Limited Production Capacity
- The production of maple syrup is limited by the availability of maple trees and the production process. This can limit the supply of maple syrup in the market and impact its growth potential.
Request Free Customization of this report to help us to meet your business objectives.
Maple Syrup Market Competitive Landscape
With the aim of achieving great heights in their business, many manufacturers and suppliers of the global maple syrup market are expected to focus on logistic development and distribution channel strengthening. To increase their geographical presence, key market players are actively investing in advertising campaigns, promotional activities, and social media marketing. For instance, Coombs Family Farms developed the spray-able maple syrup with the push of a button. Such measures are expected to increase the product's adoption rate among consumers all around the world. Mergers and acquisitions, as well as novel package designs, drive the market even further.
Top Player’s Company Profiles in Global Maple Syrup Market
- Bascom Family Farms
- Quebec Maple Syrup Producers Association
- The Archer Daniels Midland Company
- Darbo International
- Crown Maple
- D&D Maple Products
- H. Brooks and Company
- Highland Sugarworks
- Homestead Maple
- Maple Joe
- New England Maple Syrup Company
- Rocky Top Farms
- Roxbury Mountain Maple
- Runamok Maple
- Shady Maple Farms
- The Maple Guild
- The Vermont Maple Sugar Company
Global Maple Syrup Market Recent Developments
- In January 2024, Vanguard Renewables®, a top renewable energy company in the U.S., announced that The Sugarman of Vermont has joined the Farm Powered Strategic Alliance in New England. This partnership aims to help food and beverage makers reduce their environmental footprint while also supporting local dairy farmers.
- In March 2024, WhistlePig collaborated with the fictional maple syrup-chugging Vermont State Troopers from the comedy movie "Super Troopers" to release a limited-edition bottle of its syrup. The bottle features a signature trooper mustache and sunglass design. To celebrate the partnership, WhistlePig and the Broken Lizard comedy group, who portrayed the troopers, created a humorous PSA suggesting that the Super Troopers had taken over syrup production to guarantee an endless supply for their chugging antics in future sequels.
- In April 2024, IHOP, in partnership with Pepsi, has brought back the Pepsi Maple Syrup Cola at its participating restaurants across the United States. This creative beverage blends the unique flavors of maple syrup and cola. Originally launched in March 2022 as a limited-time promotion through a social media giveaway, the return of this distinctive flavor to IHOP's menu aligns with the growing trend of "dirty soda," which often involves mixing a carbonated drink with a creamy element.
Maple Syrup Key Market Trends
- Growing Demand for Organic and Natural Products: There is an increasing demand for organic and natural products, including maple syrup, due to consumer awareness about the health benefits of such products. Consumers are increasingly opting for products that are free from artificial ingredients and preservatives.
- Rising Popularity of Maple Syrup as a Sweetener: Maple syrup is becoming a popular alternative to refined sugar as it is considered healthier and has a lower glycemic index. Maple syrup is used as a sweetener in various food products such as confectioneries, bakery, and beverages.
- Increasing Use of Maple Syrup in Foodservice Industry: Maple syrup is increasingly being used in the foodservice industry to add flavor to dishes and beverages. The use of maple syrup in cocktails and other alcoholic beverages is also growing, which is driving the demand for maple syrup.
- Expansion of Distribution Channels: The expansion of retail and online distribution channels is making maple syrup more accessible to consumers. Maple syrup is now available in various retail formats, including supermarkets, hypermarkets, and specialty stores.
Maple Syrup Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Maple Syrup market is the market growth being driven by the rising use of maple syrup as a topping in the dairy, cereal, bread, and confectionery industries. Furthermore, the sophistication, diversity in tastes, and ongoing changes in consumer behavior are probably to blame for the considerable increase in the consumption of maple products.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.58 billion |
| Market size value in 2031 | USD 2.72 billion |
| Growth Rate | 6.2% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Maple Syrup Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Maple Syrup Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Maple Syrup Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Maple Syrup Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Maple Syrup Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Maple Syrup Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
