Global Maple Syrup Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Maple Syrup Market 2021 (Includes Business Impact of COVID-19)
Global Maple Syrup Market is anticipated to be valued at US$ X.X Mn in 2019 and is projected to reach as value of US$ X.X Mn in 2028. The global maple syrup market report has been segmented on the basis of type, distribution channel, and region.
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The global Maple Syrup market size was valued at USD $868.73 million in 2020 and is projected to reach $1492.39 million by 2030, and is anticipated to expand at a CAGR of 5.56% over the forecast period from 2020 to 2030.


Maple Syrup: Product Overview


Maple syrup is a sweet and thick liquid made using sap obtained from various maples, but mostly from sugar maple, red maple, black maple trees. There are several different grades of maple syrup available which can be characterized by its color. Maple syrup can be considered as a less bad substitute of sugar and is widely used to pour over bakery products.

Dynamics:


Growth Supporting and Hampering Factors


Key factors anticipated to propel growth of the target market is growing awareness regarding nutritional value of maple syrup and related products such as calcium, magnesium, and potassium among individuals across the globe. In addition, rising disposable income, changing food consumption habits, rising awareness regarding health benefits of consumption of maple syrup, increasing demand for bakery products such as pancakes, waffles, etc. are among other major factors expected to fuel the target market growth. Furthermore, growing food and beverages industry, rising demand for natural and organic substitute sweeteners, constant development and introduction of new products with innovative flavors are some other factors expected to propel market growth in the years to come. However, fluctuations in prices of raw material, availability of other natural sweeteners and rising health consciousness among individuals leading to cut down on consumption of sugars are factors that could hamper growth of the global maple syrup market to some extent.

Key Market Trends:

One of the key trends witnessed in the target market, currently is that various major players are launching new maple syrup products in order to cater the growing demand for healthy products. For instance, in April 2018, Polaner, a manufacturer of fruit-based jams and jellies and spreads, launched Fruit and Maple Spread -a sweetener that has golden maple grove farms pure maple syrup and is available in four different flavors namely strawberry, raspberry, blueberry and peach.

Segmental Analysis:

By Type:

Among the segments based on type, the organic segment is expected to dominate in the target market, owing to increasing demand for natural and plant-based food products.


By Distribution Channel:


Among the segments based on distribution channel, the supermarkets and hypermarkets segment is expected to dominate in terms of revenue in the global market. The online retail segment is anticipated to register higher CAGR over the next 10 years, owing to growing usage of Internet and penetration of smartphones across the globe.

Regional Analysis:

The North America market accounted for dominant share in the global maple syrup market in terms of value in the last year. This can be primarily attributable to presence of major players, and higher spending capacity of individuals in countries such as the US and Canada. The Europe market is anticipated to account for second-highest revenue share in the global market, owing to high consumption of bakery products and high demand for maple syrup with bakery products by individuals in the countries in Europe. The Asia Pacific maple syrup market is projected to be among emerging markets for maple syrup products, and is anticipated to grow at the highest growth rate over the 10-year period, owing to rising demand for natural sweeteners, growing awareness regarding maple syrup and benefits of maple syrup in developing countries, rising demand for baked food products and incorporation of natural ingredients for making sweets in the region. The market in MEA and Latin America are estimated to register moderate revenue growth in the global maple syrup market over the next 10-year period.


Below are the active patents related to Maple Syrup Market.


Patent Number: US9622505B2

System and method to produce maple syrup

Abstract

The process of producing maple syrup from maple sap can include concentrating the maple sap to a sugar content of between 30 and 50° Brix using membrane filtration, including increasing a differential pressure of the membrane filtration in accordance with an increasing of an osmotic pressure as the sugar content increases to eventually reach the sugar content of between 30 and 50° Brix; and subjecting the concentrated maple sap having a sugar content of between 30 and 50° Brix to evaporation until it transforms into maple syrup.

Application filed Date: 2014-03-13

Application granted Date: 2017-04-18

Current Assignee: H2O INNOVATION Inc

Global Maple Syrup Market Segmentation:

Segmentation by Type:

  
Conventional
  
Organic

Segmentation by Distribution Channel:

  
Supermarkets and Hypermarkets
  
Convenience Stores
  
Independent Retailers
  
Departmental Stores
  
Online Retail


Key Market Players included in the report:


  
Amoretti SpA (Itlay),
  
B&G Foods, Inc. (U.S.),
  
Bascom Family Farms
  
DaVinci Gourmet LLC (U.S.),
  
Heinz Company
  
Monin, Inc. (U.S.)
  
New Hampshire Maple Producers Association Inc.
  
Ontario Maple Syrup Producers Association
  
Pennsylvania Maple Association
  
Pinnacle Foods Inc. (U.S.),
  
The H. J. Heinz Company
  
The J. M. Smucker Company (U.S.),
  
The Kraft Heinz Company (U.S.),
  
Thompsons Maple Products
  
Vermont Maple Sugar Makers Association.