The global maple syrup market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the global maple syrup market followed by Europe. The U.S. accounts for a higher consumption of maple syrups in food and beverage products owing to added health aids associated with the consumption. Additionally, high demand of maple syrup as a flavoring agent in beverage industry is a key driving factor in this region. 

Also, amplified use of maple syrup in North American confectionary, bakery, cereal, and dairy industry is driving the market growth in this region. Additionally, approval for the use of maple syrups in food & beverage products from Canadian food inspection agency (CFIA) is adding fuel in the growth of maple syrups market. 

Market Segmentation

Maple syrup market is segmented based on type, grade, application, distribution channel, and region.

Competitive analysis

The major players in maple syrup market

• B&G Foods, Inc. (U.S.)
• Pinnacle Foods Inc. (U.S.)
• The Kraft Heinz Company (U.S.)
• The J. M. Smucker Company (U.S.)
• Amoretti SpA (Itlay)
• DaVinci Gourmet LLC (U.S.)
• Monin, Inc. (U.S.) 

Market Overview

Maple syrup is obtained by evaporating and concentrating maple sap obtained maple tree. Maple extract contains number of organic volatile compounds like propionaldehyde, hydroxybutanone, and vanillin that aids in numerous cardiovascular diseases. Maple syrups are used to prepare variety of bakery and beverage products such as donuts, ice cream, chocolate, cookies and health drinks. 

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Market Forecast

Increasing number of bakery industry along with increased use of maple syrup in bakery and confectionery products is driving the maple syrup market owing to high amount of minerals such as manganese, potassium, and calcium. Maple syrup is also used as a natural sweetener in various food products which is another major factor driving the global maple syrup market. Additionally, rising demand for organic maple syrups is likely to drive the growth of the maple syrups market over the review period.

Furthermore, health benefits such as skin protection, improved digestion, and healthy heart associated with the consumption of maple syrups owing to high zinc content is adding fuel in the growth of global maple syrups market. However, seasonal availability of maple sap and high cost in processing maple syrups may hinder the market growth over the review period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.2% of maple syrup market during the forecast period 2017-2023. 

Downstream analysis

Maple syrup is segmented based on type, which includes red maple, black maple, and sugar maple syrup. Among all, the sugar maple syrup holds the major market share owing to its wide use as a flavoring agent in variety of food products. 

Based on grade, the maple syrup market is segmented into grade A, processing grade, substandard, and others. In this segment, grade A type is dominating the market owing to its high purity and absence of suspended particles. 

Based on application, the maple syrup market is segmented into food & beverages, bakery & confectionery, flavor enhancer, dairy & frozen desserts, and others. The bakery & confectionery segment is dominating the market owing to increasing demand for granulated maple sugar for toppings on cake, oatmeal, and other bakery products. 

Market Overview

Maple Syrup Market is extracted from the sap of maple tree. The common species selected for maple syrup extraction include the red maple, sugar maple and black maple. Presence of high sugar content in maple makes it suitable for commercial uses which primarily include maple syrup, maple sugar, maple powder, maple water, maple cream and others. However, appropriate temperature for harvesting and seasonal availability of raw material are some of the reasons which are likely to hamper the market growth over the review period. Also, limited availability of maple sap in many regions is anticipated to hinder the market growth over the forecast period.

Growing awareness regarding Nutrition Syrups & Beverages and emerging maple extract products has surged the growth of global maple syrups market. Furthermore, consumers across the globe are demanding for improved quality bakery & confectionery products which are driving the growth of maple syrups market. Maple processing industries are rigorously involved in research and development activities in order to provide different flavors and taste to maple syrup products which are anticipated to uplift the global maple syrups market.

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Major Key Players

Some of the key players profiled in the Global Maple Syrup Market Pinnacle Foods Inc. (U.S.), The J. M. Smucker Company (U.S.), The Kraft Heinz Company (U.S.), B&G Foods, Inc. (U.S.), Amoretti SPA (Italy), DaVinci Gourmet LLC (U.S.), Monin, Inc. (U.S.)

Furthermore, health benefits such as skin protection, improved digestion, and healthy heart associated with the consumption of maple syrups owing to high zinc content is adding fuel in the growth of global maple syrups market. However, seasonal availability of maple sap and high cost in processing maple syrups may hinder the market growth over the review period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.2% of maple syrup market during the forecast period 2017-2023.

Segment

Based on grade, the maple syrup market is segmented into grade A, processing grade, substandard, and others. In this segment, grade a type is dominating the market owing to its high purity and absence of suspended particles.

Maple syrup is segmented based on type, which includes red maple, black maple, and sugar maple syrup. Among all, the sugar maple syrup holds the major market share owing to its wide use as a flavoring agent in variety of food products.

Based on application, the maple syrup market is segmented into food & beverages, bakery & confectionery, flavor enhancer, dairy & frozen desserts, and others. The bakery & confectionery segment is dominating the market owing to increasing demand for granulated maple sugar for toppings on cake, oatmeal, and other bakery products.

On the basis of the distribution channel, the market is segmented into the store-based and non-store based distribution channel. However, the store-based distribution channel is dominating the market based on the one-stop shopping experience.

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Regional Analysis

Maple Syrup Market is segmented into Asia Pacific, Europe, North America and rest of the world (RoW). North America is dominating the global maple syrup market followed by Europe. The U.S. accounts for a higher consumption of maple syrups in food and beverage products owing to added health aids associated with the consumption. Additionally, high demand of maple syrup as a flavoring agent in beverage industry is considered to be a key driving factor in this region.

Also, amplified use of maple syrup in North American confectionary, bakery, cereal, and dairy industry is driving the market growth in this region. Additionally, approval for the use of maple syrups in food & beverage products from Canadian food inspection agency (CFIA) is adding fuel in the growth of maple syrups market.