How Has The Maple Syrup Market Size Evolved Historically?
The maple syrup market has seen considerable growth due to a variety of factors.
•There has been a robust growth in the market size of maple syrup in the past few years. It is projected to expand from a value of $1.61 billion in 2024 to $1.71 billion in 2025, experiencing a compound annual growth rate (CAGR) of 6.5%.
Factors accounting for this growth during the historical period include rising health awareness, greater knowledge of natural products, broadening of maple production, development of e-commerce, as well as supportive government policies and regulations.
What Will Be The Maple Syrup Market Size In The Future?
The maple syrup market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the maple syrup market size is predicted to experience a significant increase. The expected growth is set to reach $2.28 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%.
The projected growth during the forecast period can be credited to factors such as the perception of being sustainable and eco-friendly, variety in product offerings, the understanding of different maple syrup grades, an increase in demand for locally-sourced and artisanal products, and the blending of global cuisines. The forecast period is also likely to witness trends like the innovation of maple-infused products, the advertising of health benefits, technological advancements, sustainable and accountable sourcing, and investments in various marketing and promotional activities.
What Are The Key Drivers Fueling Growth In The Maple Syrup Market?
The maple syrup market stands to benefit from the increased consumption of baked goods. From bread to sweet treats like cakes and cookies, these food items are typically made from baked dough or batter. Infusing these items with maple syrup offers a unique depth of flavor and inherent sweetness. Its use can range from simple flavoring to the main sweetening ingredient, adding a cozy, multifaceted taste that makes the baked goods even more delightful and fostering the expansion of the maple syrup market. Recent data from Agriculture and Agri-Food Canada, a governmental arm, in November 2022 shows that global retail sales of baked goods saw a surge to $425.7 billion in 2022 from its previous $407.2 billion in 2021. Accordingly, the mounting demand for baked goods is the prime force behind the escalating growth of the maple syrup market.
What Are The Principal Market Segments In The Global Maple Syrup Industry?
The maple syrup market covered in this report is segmented –
1) By Source: Sugar Maple, Black Maple, Red Maple
2) By Application: Food And Beverages, Bakery And Confectionary, Flavor Enhancer, Dairy, Frozen Desserts
3) By Distribution Channel: Super market And Hyper market, Convenience Store, Specialty Stores, Online Retail Stores, Other Distribution Channels
Subsegments:
1) By Sugar Maple: Grade A Maple Syrup, Grade B Maple Syrup
2) By Black Maple: Pure Black Maple Syrup, Blended Black Maple Syrup
3) By Red Maple: Pure Red Maple Syrup, Blended Red Maple Syrup
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Which Emerging Market Trends Are Altering The Maple Syrup Sector?
Innovative product development is a significant trend emerging in the maple syrup market. Leading corporations in this marketplace are introducing fresh, inventive products to maintain their market stance. One such example took place in January 2023 when Protein Rebel Ltd., a British manufacturer of protein-infused food, drinks, and tobacco, debuted Maple Ignite. This product is a novel energy gel based on pure maple syrup, first introduced in the UK. Promoted for its potential to improve endurance in sports such as running and cycling, Maple Ignite comprises light maple syrup derived from Canadian maple trees, mixed with sea salt.
Who Are the Key Players in the Maple Syrup Market?
Major companies operating in the maple syrup market include:
• The Kroger Co.
• The Kraft Heinz Company
• Wegmans Food Markets
• The J.M. Smucker Company
• Coombs Family Farms
• B&G Foods Inc.
• Rogers Sugar Inc.
• NYS Maple Producers Association
• Stonewall Kitchen
• Maple Grove Farms
• Bascom Maple Farms Inc.
• The Maple Treat Corporation
• Wild Harvest Organic
• Thompsontown Maple Products
• Shady Maple Farms
• Butternut Mountain Farm
• Vermont Maple Sugar Makers' Association
• Ontario Maple Syrup Producers' Association
• New Hampshire Maple Producers Association Inc.
• Federation of Quebec Maple Syrup Producers
• Industries Bernard & Fils
• Hidden Springs Maple
• The Maple Dude
• Pfeil Family Maple Farm
• Spring Tree Maple Syrup
What are the Regional Insights into the Maple Syrup Market?
North America was the largest region in the maple syrup market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the maple syrup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
