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Maple Syrup Market Size, Share, Growth, Trends, Industry Analysis And Forecast 2023-2032
Maple Syrup Market Report
The Business Research Company's Maple Syrup Global Market Report 2023 identifies the rising demand for baked goods as the major driver for the maple syrup market's growth in the forecast period. 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.
The global maple syrup market is expected to grow from $1.42 billion in 2022 to $1.51 billion in 2023 at a compound annual growth rate (CAGR) of 6.17%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The maple syrup market is expected to reach $1.95 billion in 2027 at a CAGR of 6.54%.
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Major competitors in the maple syrup market are The Kroger Co., The Kraft Heinz Company, Wegmans Food Markets, The J.M. Smucker Company, Coombs Family Farms.
A key trend in the maple syrup market includes product innovations. Major companies operating in the maple syrup market are developing innovative products to sustain their position in the market. For instance, in January 2023, Protein Rebel Ltd, a UK-based manufacturer of protein-based food, beverages, and tobacco, launched Maple Ignite, a pure maple syrup energy gel, for the first time in the UK. Maple Ignite is marketed to enhance endurance sports like running and cycling. It is made from light maple syrup from Canadian maple trees and combined with sea salt.
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The maple syrup market is segmented -
•By Source: Sugar Maple, Black Maple, Red Maple
•By Application: Food And Beverages, Bakery And Confectionary, Flavor Enhancer, Dairy, Frozen Desserts
•By Distribution Channel: Supermarket And Hypermarket, Convenience Store, Specialty Stores, Online Retail Stores, Other Distribution Channels
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the maple syrup market.
The Business Research Company's "Global Maple Syrup Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Maple Syrup Market Include:
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 Historic 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
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