Maple Syrup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Maple Syrup Market is segmented by Distribution Channels (Supermarket and Hypermarket, Convenience Store, Independent Retailer, and Other Distribution Channels) and Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). The report offers market size and forecast in value terms in USD million for all the above segments.

Market Snapshot

Maple Syrup Market Size
Study Period: 2016 -2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6 %

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Market Overview

The global maple syrup market is projected to witness a CAGR of 6% during the forecast period (2022-2027).

COVID-19 pandemic in terms of supply chain disruption, the inability to deliver maple products as well as cancellation of promotional events affected the maple syrup market. Due to the panic purchase lockdown scenario in 2020, maple syrup growth was hindered, which has created a supply-demand gap. But at the same time, the online delivery or availability of Maple came to the rescue, which enhanced the growth of the maple syrup market positively. These can be considered as a few of the drivers for which the maple syrup market grew by the pandemic COVID-19.

Maple syrup is widely used as a topping for various bakery products, such as waffles, cakes, pancakes, bread rolls, and French toasts, the increased utilization of maple syrup in the confectionery, bakery, cereal, and dairy industries may likely intensify the demand for maple syrup, growing consumer demand for natural and organic products is also expected to help the sales of maple syrup, during the forecast period. The introduction of products like organic maple syrup strengthens the competitive environment in the global market.

Scope of the Report

Maple syrup is made by concentrating the sap of maple trees and especially the sugar maple. It is a sweet, sticky, brown liquid made from the sap of maple trees that can be eaten with pancakes or used to make desserts. The global maple syrup is segmented into types of beverages and cereals. By distribution channels, the market is segmented into supermarkets and hypermarkets, convenience stores, independent retailers, online stores, and other distribution channels. Baes on geography, the report provides an analysis of North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. The report offers market size and forecast in value terms in USD million for all the above segments.

Distribution Channel
Supermarket and Hypermarket
Convenience Store
Independent Retailer
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
United Arab Emirates
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Utilization of Maple Syrup as a Flavoring Agent

The maple syrup market is most likely to witness significant growth due to increased demand for bakery applications, such as waffles, pancakes, coffee cakes, and bread rolls. This growing production rate has been driving the overall market for maple syrup, thereby catering to the growing demand in developing regions. Many producers of maple syrup are widening their product offerings owing to the demand for maple syrup as a flavoring agent in an assortment of food products. The aforementioned factors are expected to drive the growth of the maple syrup market. Due to the increase in health awareness among consumers and the numerous benefits of maple syrup, it can be considered a healthful, alternative sweetener to sugar and corn syrup which is increasing the consumption of maple syrup as it is sophisticated and brings a change in consumer tastes along with high nutrition value than sugar.

Maple Syrup Market Trends

North America Leading the Market

The Federation of Quebec Maple Syrup Producers and Vermont Maple Sugar Makers' Association are the two major cartels producing a major chunk of maple syrup. However, the stringent quota system and black marketing of maple syrup are hindering the overall market growth. The opportunities in the North American maple syrup sector continue to grow due to the increasing availability of healthy maple trees and growing consumer demand for this natural product.

Canadian maple syrup is increasingly being utilized as an ideal alternative to sugar in a variety of foods, such as desserts and baked goods. The Canadian maple syrup industry accounts for approximately 71% of the world's maple syrup production and is the leading global producer of maple products. However, Canada's share has decreased by 9% due to rising competition from the United States. The province of Quebec alone accounts for 92% of the country's maple syrup product distribution in Canada.

Maple Syrup Market Analysis

Competitive Landscape

The Maple syrup market player focuses on innovation, pricing, and distribution to stay competitive in the market. This market is competitive as many regional domestic players are emerging in the market. Federation of Quebec Maple Syrup Producers, a government federation, occupies a prominent share in the global market share. The federation has 7,300 maple syrup producers. The major players in the market are Les Industries Bernard et Fils Ltee, LB Maple Treat, Citadelle Camp, Bascom Maple Farms Inc, Highland Sugarworks, Turkey Hill Sugarbush, Ontario Maple Syrup Producers Association, B&G Foods, Pinnacle Foods, The J.M.Smucker Company, The Kraft Heinz Company, and American Garden, among others.

Recent Developments

  • In 2022, Pepsi Co introduced a limited-edition Maple Syrup version of its namesake cola brand in collaboration with US pancake restaurant chain IHOP.
  • 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 2021, the Quebec maple syrup producers said it had released more than half of its stockpile of syrup.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and market definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Distribution Channel

      1. 5.1.1 Supermarket and Hypermarket

      2. 5.1.2 Convenience Store

      3. 5.1.3 Independent Retailer

      4. 5.1.4 Other Distribution Channels

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

        4. 5.2.1.4 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Russia

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Italy

        7. 5.2.2.7 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 India

        2. 5.2.3.2 China

        3. 5.2.3.3 Japan

        4. 5.2.3.4 Rest of Asia-Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 United Arab Emirates

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 B&G Foods

      2. 6.3.2 J.M Smucker

      3. 6.3.3 Federation of Quebec Maple Syrup Producers

      4. 6.3.4 HJ Heinz Company

      5. 6.3.5 Bascom family farms

      6. 6.3.6 Thompsons maple product

      7. 6.3.7 Vermont Maple sugar maker Association

      8. 6.3.8 Les Industries Bernard et Fils Ltee

      9. 6.3.9 LB Maple Treat

      10. 6.3.10 Bascom Maple Farms Inc

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Maple Syrup Market market is studied from 2016 - 2027.

The Maple Syrup Market is growing at a CAGR of 6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

B&G Foods, The J. M. Smucker Company, Federation of Quebec Maple Syrup Producers, Bascom family farms, Industries Bernards & Fills Ltee are the major companies operating in Maple Syrup Market.

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