Maple Syrup Market Size, Share & Opportunities 2024-2033

The Business Research Company recently released a comprehensive report on the Global Maple Syrup Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The maple syrup market size has grown strongly in recent years. It will grow from $1.51 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth of health consciousness, increased awareness of natural products, expansion of maple production, e-commerce growth, government support and regulations.

The maple syrup market size is expected to see strong growth in the next few years. It will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to sustainable and eco-friendly image, diversification of product offerings, recognition of maple syrup grades, rising demand for artisanal and local products, global cuisine fusion. Major trends in the forecast period include innovation in maple-flavored products, promotion of health benefits, technological innovations, sustainable and responsible sourcing, investments in marketing and promotion.

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Market Drivers and Trends:

Rising demand for baked goods is expected to propel the growth of the maple syrup market going forward. 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. For instance, in April 2023, according to the report published by Agriculture and Agri-Food Canada, a department of the Government of Canada, the global retail sales of baked goods reached a total of $407.2 billion in 2021. Therefore, the rising demand for baked goods is driving the growth of the maple syrup market.

Product innovations are a key trend gaining popularity in the maple syrup market. 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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Major Key Players of the Market:

The Kroger Co., The Kraft Heinz Company, Wegmans Food Markets, The J.M. Smucker Company, Coombs Family Farms, B&G Foods Inc., Rogers Sugar Inc., NYS Maple Producers Association, Stonewall Kitchen, Maple Grove Farms, Bascom Maple Farms Inc., American Garden, The Maple Treat Corporation, Wild Harvest Organic, Thompsontown Maple Products, Shady Maple Farms, Butternut Mountain Farm, Vermont Maple Sugar Makers' Association, Ontario Maple Syrup Producers' Association, New Hampshire Maple Producers Association Inc., Federation of Quebec Maple Syrup Producers, Industries Bernard & Fils, Hidden Springs Maple, The Maple Dude, Pfeil Family Maple Farm, Spring Tree Maple Syrup

Maple Syrup Market 2024 Key Insights:

• The maple syrup market size is expected to see strong growth in the next few years. It will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Growing Appetite For Baked Goods Fuels Expansion In The Maple Syrup Market
• Pioneering Innovation In The Maple Syrup Market
• North America was the largest region in the maple syrup market in 2023

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