Categories: Food & Beverages

Maple Syrup Market Size, Analysis, Trends, and Strategies 2024–2033

Overview and Scope

Maple syrup is a sweet, dense, and sticky syrup prepared from the sap of numerous maple tree species. It is a widely used natural sweetener and flavoring agent in cooking, baking, and topping pancakes, waffles, and other desserts.

Sizing and Forecast

The maple syrup market size has grown strongly in recent years. It will grow from $1.51 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth of health consciousness, increased awareness of natural products, expansion of maple production, e-commerce growth, government support and regulations.

The maple syrup market size is expected to see strong growth in the next few years. It will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to sustainable and eco-friendly image, diversification of product offerings, recognition of maple syrup grades, rising demand for artisanal and local products, global cuisine fusion. Major trends in the forecast period include innovation in maple-flavored products, promotion of health benefits, technological innovations, sustainable and responsible sourcing, investments in marketing and promotion.

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Segmentation & Regional Insights

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: Supermarket And Hypermarket, Convenience Store, Specialty Stores, Online Retail Stores, Other Distribution Channels

North America was the largest region in the maple syrup market in 2023. 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.

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Major Driver Impacting Market Growth

Rising demand for baked goods is expected to propel the growth of the maple syrup market going forward. Baked goods refer to items created from baked dough or batter, including bread, desserts such as cakes, cookies, and other sweet goods. Using maple syrup in baked goods adds a rich flavor and a natural sweetness to any recipe. Whether employed as a flavor enhancer or a primary sweetener, maple syrup gives baked goods a warm, nuanced touch that makes them even more appealing and fuels the market for maple syrup. For instance, in April 2023, according to the report published by Agriculture and Agri-Food Canada, a department of the Government of Canada, the global retail sales of baked goods reached a total of $407.2 billion in 2021. Therefore, the rising demand for baked goods is driving the growth of the maple syrup market.

Key Industry Players

Major companies operating in the maple syrup market report are 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., American Garden, 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

The maple syrup market report table of contents includes:

1. Executive Summary

2. Maple Syrup Market Characteristics

3. Maple Syrup Market Trends And Strategies

4. Maple Syrup Market – Macro Economic Scenario

5. Global Maple Syrup Market Size and Growth

…

32. Global Maple Syrup Market Competitive Benchmarking

33. Global Maple Syrup Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Maple Syrup Market

35. Maple Syrup Market Future Outlook and Potential Analysis

36. Appendix