Exploring Worldwide Maple Syrup Market Trends, Opportunities, and Market Expansion
RELEASE DATE: Jul 2024 Author: Spherical Insights Request Free Sample
Overview
The sap from maple trees is used to make maple syrup. These trees store starch in their roots and trunks before winter in colder locations. The starch is subsequently transformed into sugar, which increases in the sap in late winter and early spring. The global maple syrups market size is expected to grow from USD 1.48 billion in 2023 to USD 2.68 billion by 2033, at a CAGR of 6.12% during the forecast period 2023-2033. Maple syrup is a prominent organic sweetener that is said to be healthier and more nutrient-dense than sugar.
Advancements in Maple Syrups Industries
The global market comprises some of the leading companies in the maple syrup industry, such as B&G Foods, The J.M. Smucker Company, the Federation of Quebec Maple Syrup Producers, Bascom Family Farms, and Industries Bernard & Fils Ltee. For instance, in July 2023, one distinct technology that emerged on Earth.Org's talk with Checkoway involved an electric evaporator. The majority of evaporators in the maple syrup industry run on biofuels like wood or fossil fuels like propane or diesel. However, electric evaporators, such as CDL's Master-E, are industry advancements with enormous potential to reduce emissions and fuel costs. These electric evaporators provide an environmentally responsible solution for large-scale maple syrup producers, giving a significant reduction in energy use and operational expenses when compared to previous methods.
Government Initiatives and Regional Market Expansion
- The Acer Access and Development Program (Acer) is a competitive grant program run by the United States government that supports the domestic maple syrup industry using research and education on maple syrup production, the industry's use of natural resources sustainably, and the marketing of maple syrup and products made from maple sap
- Canada is the world's largest producer and exporter of maple products, accounting for 75% of the global market. In 2020, Canadian manufacturers exported approximately 61 million kg of maple products, worth $515 million. The province of Quebec is by far the largest producer, accounting for 96.4 percent of Canadian product exports. Maple syrup and maple sugar are created by boiling the sap of maple trees. Through the Sustainable Canadian Agricultural Partnership (Sustainable CAP), the governments of Ontario and Canada are contributing over $1 million to help the growth and productivity of companies in the maple syrup industry in the province.
Insights and Projections: Global Maple Syrups Market Analysis
The report provides a summary of the global top trends and future prospects for the global maple syrups market based on historical data sets (current trends, industry statistics, and emerging trends shaping the maple syrups industry’s future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global maple syrups trends and future prospects for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions.
Growth Factors and Emerging Trends in the Maple syrups Industry
- Rising application of maple syrup in dairy and bakery products
The increasing usage of maple syrup as a topping in the bread, cereal, dairy, and confectionery industries is fueling the market's expansion. Moreover, the significant rise in the consumption of maple products is probably due to consumer behavior changes, diversity in tastes, and sophistication. The growing global demand for natural and organic products is predicted to drive the market's growth. Additionally, rising income levels, improving the financial status of consumers, and an increase in the consumption of nutritious food products globally are all driving the market's expansion.
- Growing customer interest in healthier foods
A high-quality product, maple syrup is said to be higher in nutrients and healthier than sugar and other artificial sweeteners. Due to its high mineral and phenolic component concentration, it stands out among other organic sweeteners as a superior substitute for refined sugar. Due to it having organic acids, amino acids, and large levels of minerals such as zinc, potassium, and manganese, it is a unique and better choice. More and more people are demanding superior, calorie-free sweeteners as they grow more health conscious. Furthermore, the world's aging population promotes market expansion and creates prospects for market expansion in new demographics.
Opportunities and Future Prospects in the Maple Syrups Industry
- Rising maple syrup exports and production
Between 2006 and 2016, the amount of maple syrup produced in Canada rose by more than 225% of the global total. However, because of increased competition from the United States, its share of global output decreased from 80% to 71% between 2015 and 2016. A total of $515 million worth of maple products was exported in 2020, weighing over 61 million kg. 95 percent of Canada's maple products are exported from Quebec. Products made from maple trees are exported to more than 68 nations. Canada sells 59.1% of its total goods to the United States, making it the country's most significant export market. The UK (6.0%), Australia (5.2%), France (4.4%), Germany (9.8%), Japan (4.8%), and Australia (4.8%) are the other top purchasers. Overall, maple syrup exports play an important role in growing the worldwide maple syrup economy.
List of Key Companies in the Maple Syrups Industry
- B&G Foods
- The J.M. Smucker Company
- Crown Maple Syrup
- Bascom Family Farms
- Industries Bernard & Fils Ltee
- HJ Heinz Company
- Les Industries Bernard & Fils
- Vermont Maple Sugar Maker’s Association
- LB Maple Treat
- J.M. Smucker
Top 5 Players in the Maple Syrups Industry
1. B&G Foods
Headquarters: Parsippany, New Jersey.
B&G Foods, Inc. produces, markets, and distributes a variety of frozen and shelf-stable foods. It manufactures, sells, and distributes a wide range of premium frozen and shelf-stable foods throughout the US, Canada, and Puerto Rico. It operates in a single industry segment. Fruit spreads, salsa, maple syrup, pickles, baked beans, canned meats and beans, bagel chips, frozen and canned vegetables, vegetables, canola, and other cooking oils, vegetable shortening, cooking sprays, oatmeal, and other hot cereals, spices, seasonings, spicy sauces, and wine vinegar are some of its products. The primary brands of the company are Cary's, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril's, Grandma's Molasses, MacDonald's, Baker's Joy, Bear Creek Country Kitchens, and Ac'cent.
2. L.B. Maple
Headquarters: Granby, Quebec, J2J 2B8, Canada.
L.B. Maple Treat Corporation offers drinks that are not alcoholic. The company sells coffee, teas, pastries, maple syrup, and other related drinks. L.B. Maple Treat caters to Canadian clients. One of the first companies in the maple sector, LB Maple Treat Corporation (formerly known as Rogers Sugar Inc.), offers a variety of goods, including maple butter, maple candies, maple cookies, fruit syrups, maple syrup, and other derived items. The company directly supplies the products to distributors and retailers, increasing both their geographic reach and consumer pleasure. The company operates under many brands in major food chains, specialty stores, and through retailers in about 52 countries worldwide.
3. Crown Maple Syrup
Headquarters: Dover Plains, NY
Crown Maple Syrup is a registered organic maple syrup manufacturer situated in Dover Plains, New York. Robb Turner founded the business in 2010. From tapped maple trees in regions ranging from the Hudson Valley to Western Vermont, maple syrup is made. On an 800-acre property, Madava Farms processes and bottles the syrup. The farm is regarded as North America's largest maple syrup production operation. Crown Maple's present gear can process sap from up to 400,000 tapped trees. With roughly 100,000 trees already tapped, Crown Maple's planned expansion to tap up to 400,000 trees would make it the world's largest single producer of maple syrup.
4. J.M. Smucker
Headquarters: Orrville, Ohio
The company J.M. Smucker Co. (J.M. Smucker) produces food and drink items. Products from the firm include coffee, fruit spreads, peanut butter, pet foods, baking mixes, frozen portable items, flour and baking supplies, juices and beverages, and other portion control items. These goods are marketed and distributed by J.M. Smucker under the brands 9Lives, Cafe Bustelo, Dunkin, Folgers, Jif, Kibbles'n Bits, Meow Mix, Milk-Bone, Nature's Recipe, and Robin Hood. It distributes these goods via food distributors, warehouse clubs, and supermarkets. To supply food merchants, club stores, dollar and discount stores, internet retailers, pet specialty shops, drug stores, military commissaries, and mass merchandisers, J.M. Smucker uses a combination of direct sales and brokers.The firm exports these goods to several nations across the world and mostly works in the US and Canada. The US city of Orrville is home to J.M. Smucker's headquarters.
5. Les Industries Bernard & Fils
Headquarters: Saint-Victor, Canada.
Les Industries Bernard & Fils Ltee manufactures syrup. In order to provide customers with preservatives that meet their business needs, the company specializes in blueberry syrup, organic pure maple syrup, and cranberry syrup that are free of sodium, high fructose corn syrup, artificial flavors, and coloring. The company supplies its products to 40 countries and works directly with distributors, wholesalers, retail chains, and hotel, restaurant, and institution management (HRI). For example, the company stated in May 2022 that it would be working with Valeo to enhance its supply chain and ties with major food merchants abroad.
Recent Development
- In June 2024, the acquisition of Appalaches Nature, a Canadian maple syrup company founded in 2018 and based in Thetford Mines, Quebec, has been finalized by Les Industries Bernard et Fils (or "Bernard"). The company operates out of a cutting-edge, 100,000-square-foot, carbon-neutral plant.
- In January 2024, the Sugarman of Vermont has joined the Farm Powered Strategic Alliance in New England, according to a statement released by Vanguard Renewables, a leading provider of renewable energy in the United States. Through this agreement, local dairy farmers will be supported and food and beverage manufacturers will be able to lessen their environmental impact.
- In March 2024, under the Sustainable Canadian Agricultural Partnership (Sustainable CAP), the governments of Ontario and Canada contributed more than $1 million to help the growth and productivity of companies in the maple syrup industry in the province.
- In May 2022, Les Industries Bernard & Fils was purchased by Valeo Foods from Phoenix Partners for an undisclosed sum. In the Canadian province of Quebec, Bernard has been producing pure maple syrup since the 1800s. With the United States and Canada serving as the company's main markets, its products are distributed to over 40 nations worldwide.
- In May 2022, Growers Express, LLC's frozen vegetable production activities were bought by B&G Foods, Inc. (NYSE: BGS). Growers Express is a pioneer in the sector that creates, develops, packages, and markets frozen vegetable products, with a focus on Green Giant Veggie Spirals and Riced Veggies brands.
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