The maple syrup market share is expected to increase by USD 402.61 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.7%.
This maple syrup market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers maple syrup market segmentation by product (conventional and organic), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and MEA). The maple syrup market report also offers information on several market vendors, including B and G Foods Inc., Butternut Mountain Farm, Conagra Brands Inc., Ferguson Farm Vermont Maple Syrup, Global Export Marketing Co. Ltd., LES INDUSTRIES BERNARD & FILS LTÉE, PepsiCo Inc., The Hain Celestial Group Inc., The J.M. Smucker Co., and The Kraft Heinz Co. among others.
What will the Maple Syrup Market Size be During the Forecast Period?
Download Report Sample to Unlock the Maple Syrup Market Size for the Forecast Period and Other Important Statistics
Maple Syrup Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The new product launches are notably driving the maple syrup market growth, although factors such as health problems associated with HFCS may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the maple syrup industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Maple Syrup Market Driver
New product launches are one of the key factors driving the growth of the global maple syrup market. Increasing new product launches by regional and international players may support the growth of the global maple syrup market. The manufacturers of maple syrup are adopting innovative and distributive strategies to increase the market size of these products. Successful new product launches are expected to accelerate the growth of competitors and the global maple syrup market as well. A successful new product launch helps in increasing the revenue flow of a vendor and broadening its consumer base. Additionally, new product launches increase the market share of players and offer them a competitive edge over other players in the market. For instance, in October 2020, Runamok Maple LLC expanded into the cocktail space and launched a collection of maple cocktail syrups and bitters. The line of cocktail mixers will feature four different syrups (Maple Old Fashioned, Maple Tonic, Smoked Old Fashioned, and Maple Ginger Mule) along with three kinds of bitters (Floral Maple, Aromatic Maple, and Orange Maple).
Key Maple Syrup Market Trend
Labeling trends will fuel the global maple syrup market growth. The country of origin plays a critical role in the purchasing decisions of buyers directly or indirectly. For instance, consumers in the US consider foods packed in the US and Canada to be safer than those from other regions based on taste, quality, freshness, and food safety. Country-of-origin labeling (COOL) in the US introduced labeling of products to keep consumers informed to make better purchasing decisions. However, the implementation of labeling has caused producers to incur high costs. The US government has appealed the proceeding of COOL in regions such as Canada and Mexico as these regions have claimed that the law discriminates against their producers. Maple syrup is graded according to the US, Canada, or Vermont scales based on its translucency and density. In Canada, the syrups must be extracted exclusively from maple sap to qualify as maple syrup and must also be at least 66% sugar. In the US, pure maple syrup must be made almost entirely from maple sap to be labeled as maple. However, states like New York and Vermont follow many tough restrictions.
Key Maple Syrup Market Challenge
Growing health concerns about diabetes and obesity are major challenges for the global maple syrup market growth. It has been noted that the number of obese people is increasing globally. The rise in obesity levels is due to the ingredients in food products. The use of emulsifiers in ice creams leads to obesity and diabetes. Emulsifiers are additives that are added to the processing of foods to stabilize them. As per the US FDA, emulsifiers are generally regarded as safe because they do not have a toxic effect on mammals and pose no risk of cancer. However, a recent study conducted in mice revealed that emulsifiers could alter the makeup of bacteria in the colon and cause inflammation in the gut resulting in changes in the metabolism. In the growing health-conscious environment, this is a challenge for the global maple syrup market. However, the increased instances of lifestyle disorders such as obesity, diabetes, and others in developed economies are leading to various health problems including respiratory disorders, heart ailments, and anxiety. Therefore, such factors may impede the growth of the global maple syrup market during the forecast period.
This maple syrup market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes maple syrup as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the maple syrup market during the forecast period.
Who are the Major Maple Syrup Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- B and G Foods Inc.
- Butternut Mountain Farm
- Conagra Brands Inc.
- Ferguson Farm Vermont Maple Syrup
- Global Export Marketing Co. Ltd.
- LES INDUSTRIES BERNARD & FILS LTÉE
- PepsiCo Inc.
- The Hain Celestial Group Inc.
- The J.M. Smucker Co.
- The Kraft Heinz Co.
This statistical study of the maple syrup market encompasses successful business strategies deployed by the key vendors. The maple syrup market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- B and G Foods Inc. - The company offers maple syrup under the brand name Cary's, MacDonald's, Maple Grove Farms and more
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The maple syrup market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Maple Syrup Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the maple syrup market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global food, beverage, and tobacco market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Maple Syrup Market?
For more insights on the market share of various regions Request PDF Sample now!
50% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for maple syrup market in North America. Market growth in this region will be slower than the growth of the market in regions.
New product launches will facilitate the maple syrup market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic spread widely across North America, especially in the US in 2020. Thus, various countries imposed lockdown restrictions across the region. Moreover, the pandemic increased health concerns among people, and they started cooking at home, owing to the restrictions imposed by governments on movement. This significantly increased the consumption of food items, such as maple syrups and others, in 2020. As a result, vendors had a positive revenue in 2020. For instance, the net sales of B&G Foods Inc., headquartered in the US, increased by 8.9% to $449.4 million in Q1 2020 as compared with Q2 2019. Nevertheless, the regional market is anticipated to witness growth, owing to the increasing consumption of packaged foods and meats among people and the normalization of food and beverage industries as a result of the easing of lockdown measures.
What are the Revenue-generating Product Segments in the Maple Syrup Market?
To gain further insights on the market contribution of various segments Request PDF Sample
The maple syrup market share growth by the Conventional segment will be significant during the forecast period. Maple syrup is generally extracted from three types of maple trees, the sugar maple (Acer saccharum), the red maple (A. rubrum), and the black maple (A. nigrum). The conventional maple syrup segment dominates the global maple syrup market as the penetration of organic syrup is low worldwide. The northeastern parts of North America account for most of the maple syrup production worldwide.
This report provides an accurate prediction of the contribution of all the segments to the growth of the maple syrup market size and actionable market insights on post COVID-19 impact on each segment.
|
Maple Syrup Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.7% |
|
Market growth 2021-2025 |
$ 402.61 million |
|
Market structure |
Fragmented |
|
YoY growth (%) |
5.54 |
|
Regional analysis |
North America, Europe, APAC, South America, and MEA |
|
Performing market contribution |
North America at 50% |
|
Key consumer countries |
US, Canada, Germany, UK, and Japan |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
B and G Foods Inc., Butternut Mountain Farm, Conagra Brands Inc., Ferguson Farm Vermont Maple Syrup, Global Export Marketing Co. Ltd., LES INDUSTRIES BERNARD & FILS LTÉE, PepsiCo Inc., The Hain Celestial Group Inc., The J.M. Smucker Co., and The Kraft Heinz Co. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Maple Syrup Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive maple syrup market growth during the next five years
- Precise estimation of the maple syrup market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the maple syrup industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of maple syrup market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch