iCrowdNewswire Dec 31, 2020 12:21 PM ET
Maple syrup can be sourced from the maple tree sap. It has several variations like sugar maple, red maple, and black maple from where diverse type of maples syrups can be sourced. Its high sugar content makes its market percolation easier. Various products like maple cream, maple sugar, maple syrup, maple water, maple powder, and others are available in the market that can inspire market growth. The global maple syrup market can inspire an impressive CAGR between 2017 and 2023 that has been considered in the report as the forecast period.
A major change in the market would be the intent of having organic products, its integration in bakery & confectionery, rising investment for research & development, improvement in maple processing industries, and others are expected to make sure that the market undergoes a substantial change in the foreseeable future. The availability of a wide-range of products can also be a growth-inducing factor.
However, the market for maple syrup can find strong distraction in seasonal availability and harvesting of the product. This hampers the availability of raw products. Also, preserving it at the right temperature is needed. But its growing demand can influence the market for maple syrup growth.
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The market for maple syrup has been studied by MRFR for insights that would help in planning for the market in the coming years. The segmentation is by type, grade, application, and distribution channel. In addition, there is a factorial analysis that can bolster the claims made by MRFR in the report.
By type, the global market for maple syrup can be segmented into black maple, red maple, and sugar maple syrup. The sugar maple syrup segment has the maximum market share. It is also gaining momentum in food products as flavoring agent.
By grade, the market report on the maple syrup includes processing grade, substandard, grade A, and others. The grade A segment has the market control and the rise can be attributed to its high purity and minimal presence or complete absence of suspended particles.
By application, the market for maple syrup includes flavor enhancer, bakery & confectionery, food & beverages, dairy & frozen desserts, and others. The bakery & confectionery segment would dominate the market as granulated maple sugar that can be used as toppings for oatmeal, cake, and others.
By distribution channel, the market report includes store-based and non-store based distribution channel. The store-based distribution channel has the potential to take the lead as it can provide a one-stop shopping experience.
North America can make substantial market dominance as there are several buyers with high disposable income and also it is a part of the staple diet in many North American countries. The US has made a name for itself in the market by contributing substantially as its several end user industries like confectionery & bakery, ice cream, hot cereal, fruit juices, baked beans, donuts, and others. Its demand as a flavoring agent is also substantial that is why the regional market has the potential to move forward with great gusto in the coming years. Canada would also make a notable impact on the market.
In the Europe, it is also acknowledged as a staple diet in several countries like the UK, France, Germany, and others. These countries use maple syrup with pancake, ice cream, and others. Also, the demand for organically grown product is quite high. This is inspiring various market players into initiating processes that would find better culturing process and collection. In addition, the region is witnessing approvals from Canadian food inspection agency (CFIA), which can inspire better growth rate for the market.
The Asia Pacific (APAC) market is seeing a surge in the demand for maple syrup as the influx of disposable income is rising. Exposure to global food and delicacies is rising, which would inspire better intake.
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The global market for maple syrup has been studied by MRFR on the basis of a detailed profile analysis of companies like Pinnacle Foods Inc. (U.S.), B&G Foods, Inc. (U.S.), The J. M. Smucker Company (U.S.), The Kraft Heinz Company (U.S.), DaVinci Gourmet LLC (U.S.), Amoretti SpA (Itlay), Monin, Inc. (U.S.), and others.
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Keywords: Maple Syrup Market, Maple Syrup Market Size, Maple Syrup Market Share, Maple Syrup Market Growth, Maple Syrup Market Trends, Industry