Sweet Liquid Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.16 Billion |
| Market Size (2029) | USD 1.63 Billion |
| CAGR (2024 - 2029) | 7.17 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sweet Liquid Market Analysis
The Maple Syrup Market size is estimated at USD 1.16 billion in 2024, and is expected to reach USD 1.63 billion by 2029, growing at a CAGR of 7.17% during the forecast period (2024-2029).
Maple syrup is widely used as a topping for various bakery products, such as waffles, cakes, pancakes, bread rolls, and French toasts. While the increased utilization of maple syrup in the confectionery, bakery, cereal, and dairy industries may likely intensify the demand for maple syrup, growing consumer demand for natural and organic products is also expected to help the sales of maple syrup during the forecast period. The introduction of products like organic maple syrup strengthens the competitive environment in the global market. In addition, numerous customers demonstrate a propensity to try new flavors, and since maple is thought to have a distinctive flavor that works both on its own and when combined with others, maple has an edge over other flavors. In emerging economies, the demand for maple syrup products is driven by the ongoing creation of unique products and eye-catching, inventive packaging. Additionally, a lot of small-scale and giant food producers flavor savory dressings, mustards, sauces, and spices with maple syrup, which promotes the market's expansion. During the projected time period, the market is also expected to grow because major market players will be spending more money on advertising, promotions, and social media marketing.
Consumers' growing preference for natural and organic sweeteners has led to a rise in product acceptance, which is anticipated to fuel market expansion over the course of the projected period. A further factor driving the acceptance of maple syrup as a sugar alternative is the rising prevalence of chronic diseases like diabetes, cardiovascular conditions, and obesity. This trend is expected to continue during the projected years. In nations including the United States, Canada, Germany, the United Kingdom, and France, strict governmental regulations are anticipated to keep these products' quality high. The federal regulations and recommendations that have been made public guarantee that the products meet hygienic requirements for consumption. However, the stringent quota system and the black marketing of maple products are factors impeding the expansion of the market as a whole.
Sweet Liquid Market Trends
This section covers the major market trends shaping the Maple Syrup Market according to our research experts:
Utilization of Maple Syrup as a Flavoring Agent
The maple syrup market is most likely to witness significant growth due to increased demand for bakery applications such as waffles, pancakes, coffee cakes, and bread rolls. This growing production rate has been driving the overall market for maple syrup, thereby catering to the growing demand in developing regions. Many producers of maple syrup are expanding their product offerings owing to the demand for maple syrup as a flavoring agent in an assortment of food products. The aforementioned factors are expected to drive the growth of the maple syrup market. Due to the increase in health awareness among consumers and the numerous benefits of maple syrup, it is considered a healthy alternative sweetener to sugar and corn syrup, which is increasing the consumption of maple syrup as it is sophisticated, brings a change in consumer tastes, and has a high nutritional value when compared with sugar.
No specific substance or substances have yet been identified as possessing the "maple" flavor. However, it has been discovered that maple syrup contains a wide variety of flavorings. These mostly consist of phenolic, pyrazine, and carbonyl chemicals. These flavoring substances are a result of both the presence of certain substances (such as sucrose, reducing sugars, nitrogen-containing compounds, and soluble lignins) in the maple sap and the high temperatures used to transform the sap into syrup. One of Canada's most significant and well-known exports is maple syrup, which many Canadians associate with the arrival of spring and serves as a potent symbol of Canadian identity both at home and abroad. This factor has helped drive the market in the country over recent decades.
North America Leading the Market
The Federation of Quebec Maple Syrup Producers and the Vermont Maple Sugar Makers' Association are the two major cartels producing a major chunk of maple syrup. However, the stringent quota system and black marketing of maple syrup are hindering the overall market's growth. The opportunities in the North American maple syrup sector continue to grow due to the increasing availability of healthy maple trees and growing consumer demand for this natural product.
Canadian maple syrup is increasingly being utilized as an ideal alternative to sugar in a variety of foods, such as desserts and baked goods. According to Government of Canada reports, the Canadian maple syrup industry accounts for approximately 75% of the world's maple syrup production and is the leading global producer of maple products. The province of Quebec alone accounts for 89% of the country's maple syrup product distribution in Canada, while Nova Scotia accounts for less than 1%, 4% from Ontario, and 7% from New Brunswick. The United States is the second-largest producer in the world, contributing to around 24% of global production. Vermont, New York, and Maine contribute 45%, 19%, and 14% of the United States' production, respectively. For instance, Vermont, which will produce more than 2.5 million gallons of maple syrup in 2022, is the top-producing state in the United States. Almost all of the American production during that year was made up of this. Maple trees can have one to three taps to collect sap, depending on the size of the tree, and tapping them is a fairly straightforward process.
Sweet Liquid Industry Overview
The maple syrup market player focuses on innovation, pricing, and distribution to stay competitive in the market. This market is competitive, as many regional domestic players are emerging in it. The Federation of Quebec Maple Syrup Producers, a government federation, occupies a prominent share of the global market. The federation has 7,300 maple syrup producers. The major players in the market are Les Industries Bernard et Fils Ltée, LB Maple Treat, Citadelle Camp, Bascom Maple Farms Inc., Highland Sugarworks, Turkey Hill Sugarbush, the Ontario Maple Syrup Producers Association, B&G Foods, Pinnacle Foods, The J.M. Smucker Company, The Kraft Heinz Company, and American Garden, among others.
Sweet Liquid Market Leaders
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B&G Foods
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The J. M. Smucker Company
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Federation of Quebec Maple Syrup Producers
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Bascom family farms
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Industries Bernards & Fills Ltee
*Disclaimer: Major Players sorted in no particular order
Sweet Liquid Market News
- March 2022: PepsiCo Inc. introduced a limited-edition maple syrup version of its namesake cola brand in collaboration with the United States pancake restaurant chain IHOP.
- August 2021: B&G Foods, Inc. announced that it had reached an agreement to sell its Portland, Maine, manufacturing facility and 13.5-acre waterfront property to the Institute for Digital Engineering and Life Sciences. B&G Foods plans to move manufacturing operations of B&M, Underwood, and certain other brands to third-party co-manufacturing facilities and existing B&G Foods manufacturing facilities.
- December 2021: The Federation of Quebec Maple Syrup Producers said it had released more than half of its stockpile of syrup.
Sweet Liquid Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and market definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Category
5.1.1 Organic
5.1.2 Conventional
5.2 Type
5.2.1 Black Maple
5.2.2 Red Maple
5.2.3 Sugar Maple
5.3 Distribution Channel
5.3.1 Supermarket and Hypermarket
5.3.2 Convenience Store
5.3.3 Specialty Stores
5.3.4 Online Retail Stores
5.3.5 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Italy
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 B&G Foods
6.3.2 J.M Smucker
6.3.3 Federation of Quebec Maple Syrup Producers
6.3.4 HJ Heinz Company
6.3.5 Bascom family farms
6.3.6 Thompsons maple product
6.3.7 Vermont Maple sugar maker Association
6.3.8 Les Industries Bernard et Fils Ltee
6.3.9 LB Maple Treat
6.3.10 Bascom Maple Farms Inc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sweet Liquid Industry Segmentation
Maple syrup is made by concentrating the sap of maple trees, especially sugar maples. It is a sweet, sticky, brown liquid made from the sap of maple trees that can be eaten with pancakes or used to make desserts. Global maple syrup is segmented based on category, type, distribution channel, and geography. By category, the market is segmented into organic and conventional. By type, the market is segmented into black maple, red maple, and sugar maple. By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience and grocery stores, specialty stores, online retail stores, and other distribution channels. Based on geography, the report provides an analysis of North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The report offers market size and forecasts in value terms (in USD million) for all the above segments.
| Category | |
| Organic | |
| Conventional |
| Type | |
| Black Maple | |
| Red Maple | |
| Sugar Maple |
| Distribution Channel | |
| Supermarket and Hypermarket | |
| Convenience Store | |
| Specialty Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Sweet Liquid Market Research FAQs
How big is the Maple Syrup Market?
The Maple Syrup Market size is expected to reach USD 1.16 billion in 2024 and grow at a CAGR of 7.17% to reach USD 1.63 billion by 2029.
What is the current Maple Syrup Market size?
In 2024, the Maple Syrup Market size is expected to reach USD 1.16 billion.
Who are the key players in Maple Syrup Market?
B&G Foods, The J. M. Smucker Company, Federation of Quebec Maple Syrup Producers, Bascom family farms and Industries Bernards & Fills Ltee are the major companies operating in the Maple Syrup Market.
Which is the fastest growing region in Maple Syrup Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Maple Syrup Market?
In 2024, the North America accounts for the largest market share in Maple Syrup Market.
What years does this Maple Syrup Market cover, and what was the market size in 2023?
In 2023, the Maple Syrup Market size was estimated at USD 1.08 billion. The report covers the Maple Syrup Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Maple Syrup Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the biggest challenges in the Maple Syrup Industry due to climate change?
The biggest challenges in the Maple Syrup Industry due to climate change are a) Increasing concerns about rising temperatures b) Shorter tapping seasons & potential impact on maple syrup yields
Maple Syrup Industry Report
The global maple syrup industry is on an upward trajectory, buoyed by a surge in health consciousness and a growing inclination towards natural sweeteners. As a healthier alternative to artificial sweeteners, its popularity is burgeoning across market segments like supermarkets/hypermarkets and specialty stores, further augmented by an expanding export market, particularly to the United States and Japan. Embracing sustainable and environmentally friendly production practices, the industry is moving towards energy-efficient methods and responsible forest management. Segmented by category into organic and conventional types, the maple syrup market is poised for significant growth, with North America emerging as a key region due to favorable weather conditions and strong consumer demand. Despite challenges such as labor intensity and climate variability, the industry sees ample growth opportunities, especially with maple syrup companies increasingly adopting sustainable practices to meet the global demand for healthy, natural food products. Insights from Mordor Intelligence™ highlight the market's potential expansion and evolving trends, offering a comprehensive overview for maple syrup companies looking to navigate the market dynamics and capitalize on emerging opportunities. Get a sample of this industry analysis as a free report PDF download.
