Maple Syrup Market Size Worth $2,576.82 Million by 2032 | CAGR: 6.50%

Maple Syrup Market Size Worth $2,576.82 Million by 2032 | CAGR: 6.50%


The global maple syrup market size is expected to reach USD 2,576.82 million by 2032, according to a new study by Polaris Market Research. The report “Maple Syrup Market Share, Size, Trends, Industry Analysis Report, By Source (Red Maple, Black Maple, Sugar Maple), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Industry is projected to experience substantial growth in the coming years, primarily driven by the increasing per capita consumption of this product. Furthermore, the rising awareness of health and wellness among consumers in developed economies has resulted in a growing preference for natural and organic products, including maple syrup. This heightened consumer demand for healthier options is contributing to the overall growth and popularity of the maple syrup market.

Market growth in the industry is being propelled by multiple factors. These include the increasing disposable income of consumers, a growing middle-class population, and the ongoing trend of urbanization worldwide. These economic and demographic factors create a conducive environment for the expansion of the market. Additionally, the constantly evolving lifestyle and eating habits of consumers are playing a significant role in driving the demand for maple syrup products. As consumer preferences shift towards healthier and more natural options, the appeal of maple-flavored products has risen in recent years, further contributing to the market's growth.

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Surge in online distribution channels can be attributed to the widespread availability of shopping portals and mobile apps. Manufacturers are increasingly offering their products not only on their own websites but also on various e-commerce platforms, contributing to the market's accelerated growth during the forecast period. The rapid expansion of the e-commerce sector is a key driving force behind the market's growth.

Additionally, companies, distributors, and retailers are adopting online platforms to sell their products, further fueling the momentum of the market's online presence. Furthermore, the growing demand for toppings in the bakery & confectionery industries is playing a crucial role in accelerating the market's expansion. The increased demand for the baked goods that use maple syrup as a sweetener, such as waffles, pan-cakes, coffee cakes, & bread rolls, will significantly contribute to driving the market's overall demand.

Industry experienced disruptions during the COVID-19 pandemic, with the global lockdown leading to suspended or delayed supply of raw materials. Moreover, the market suffered from the impact of canceled annual events and restaurant closures. However, as the world gradually recovers from the pandemic, there is a positive outlook for the market. The rising consumption of maple syrup post-pandemic is expected to present opportunities for market players, leading to a healthy growth trajectory during the forecast period.

Maple Syrup Market Report Highlights

  • Black maple segment held the largest share, owing to changing lifestyle & changing eating habits of consumers
  • Offline segment dominated the market, due to easy access & availability of the product in the concerned settings
  • APAC will grow at rapid pace, primarily due increasing awareness and ever rising discretionary income of middle-class population
  • The global key market players include B & G Foods, Bascom Maple Farms, Smucker Co., Federation of Quebec Maple Syrup, & Conagra Brands

Polaris Market Research has segmented the maple syrup market report based on product, component, and region:

Maple Syrup, Product Outlook (Revenue - USD Million, 2019 - 2032)

  • Red Maple
  • Black Maple
  • Sugar Maple

Maple Syrup, Component Outlook (Revenue - USD Million, 2019 - 2032)

  • Offline
  • Online

Maple Syrup, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Maple Syrup Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 1555.84 million

Revenue forecast in 2032

USD 2,576.82 million

CAGR

6.50% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million and CAGR from 2024 to 2032

Segments covered

By Source, By Distribution Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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