The Global Maple Syrup Market is predicted to expand at a CAGR of 6.2% during the forecast period (2017-2023), asserts Market Research Future (MRFR) in its latest report. Health benefits associated with maple syrup amid increasing demand by consumers for fitness-elevating foods are likely to drive the market growth.
Maple syrup is extracted from the sap present in maple trees. Presence of hydroxybutanone, vanillin, and propionaldehyde in the sweet condiment is expected to drive its demand among food and beverage manufacturers. Differentiation of flavors by bakery and confectionery manufacturers is likely to induce the demand for maple syrup. Its high zinc content level which contains vital nutrients is projected to fuel the Maple Syrup Market growth.
The packaging of maple syrup plays a major role in attracting consumers. Emphasis placed on design, bottle shape, and long shelf life can widen the consumer base of manufacturers. Syrup manufacturers are collaborating with packaging experts to redesign their brand and provide their sales a much-needed boost.
Campaigns and advertisements play a major role in attracting consumer interest. For instance, Liquid, a U.K. firm, is pushing for the product to be adopted across kitchens via its “We Love Maple” campaign. The successful traction of the campaign can net the company sufficient footfall in terms of sales and customers and bolster the maple syrup market demand.
Distribution partnerships with supermarket and hypermarket chains are touted to augur well for the maple syrup market. High demand for natural and organic flavors is likely to elicit the demand for maple, a tree rich in sucrose content. Innovation of new flavors such as bourbon-barrel aged maple syrup with salted caramel or vanilla bean can generate interest among consumers.
Trade disputes between countries can also fluctuate maple syrup prices and act as a growth deterrent. High processing costs and unavailability of maple in all seasons can hamper its growth.
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Competitive Landscape
The notable players operating in the Global Maple Syrup Market include:-
- DaVinci Gourmet LLC (U.S.)
- Amoretti SpA (Itlay)
- B&G Foods, Inc. (U.S.)
- The Kraft Heinz Company (U.S.)
- The J. M. Smucker Company (U.S.)
- Pinnacle Foods Inc. (U.S.)
- Monin, Inc. (U.S.)
Key Findings
- Canada holds the major production of maple syrup products
- The U.S. is the major importer of maple syrup over the globe
- Maple syrups have massive opportunity in the functional food industry
Intended Audience
- Maple syrup manufacturers
- Food & beverage industry
- Raw material suppliers
- Retailers and wholesaler
- E-commerce industry
- Traders, importers, and exporters
Segmentation
The global maple syrup market has been segmented based on Type, Grade, Application, and Distribution Channel.
By Type
- Red maple
- Black maple
- Sugar maple syrup
By Grade
- Grade A
- Processing grade
- Substandard
By Application
- Food & beverages
- Bakery & confectionery
- Flavor enhancer
- Dairy & frozen desserts
By Distribution channel
- Store-based
- Non-store based distribution channel
Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the world
Industry Updates
In January 2019, The Vermont Maple Company has introduced a new variant in maple syrup, sprayable maple syrup which acts as anew disruption to the maple syrup industry.
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Table of Content
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3 Maple Syrup Market Insights
Chapter 4 Maple Syrup Market by Source Insights
Chapter 5 Maple Syrup Market by Grade Insights
Chapter 6 Maple Syrup Market by Application Insights
Chapter 7 Maple Syrup Market by Distribution Channel Insights
Chapter 8 Maple Syrup Market Regional Insights
Chapter 9 Competitor Profile
TO BE CONTINUE………..
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