Global Maple Syrup Market 2017-2021
About Maple Syrup
Maple syrup is added to various food and beverages as a sweetening agent. It provides flavor to fritters, sausages, and ice creams. In many parts of Europe and in the Americas, maple syrup is used as a topping in common delicacies such as waffles, pancakes, and French toast. It is also used as a sweetener in bread, baked beans, cakes, and granola. Also, many wine manufacturers use maple syrup instead of honey for many reasons like cost benefit and health aspects.
Technavio’s analysts forecast the global maple syrup market to grow at a CAGR of 4.77% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global maple syrup market for 2017-2021. To calculate the market size, the report considers the sales, volume, and value.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Maple Syrup Market 2017-2021
Technavio recognizes the following companies as the key players in the global maple syrup market: B&G Foods, Pinnacle Foods, The J.M.Smucker Company, and The Kraft Heinz Company
Other Prominent Vendors in the market are: American Garden, Amoretti, Butternut Mountain Farm, Cedarvale Maple Syrup, Coombs Family Farms, DaVinci Gourmet, Hidden Springs Maple, Hungry Jack's, Log Cabin, Monin, Nature’s Way Products, Starbucks Corporation, Torani, and Williams-Sonoma.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Clean labeling. The country of origin plays a critical role in the purchasing decisions of buyers directly or indirectly. For instance, the US consumers consider foods packed in the US and Canada to be safer than those from other regions based on taste, quality, freshness, and food safety.”
According to the report, one of the major drivers for this market is Health benefits of maple syrup. Maple syrup contains water, fats, proteins, carbohydrates, and sugar, along with minerals like magnesium, potassium, calcium, copper, zinc, and sodium. Maple syrup also contains vitamins such as riboflavin, thiamin, niacin, and B6.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating prices of raw materials. Depending on the availability, raw materials that are required to produce maple syrup, such as sugar and maple, can have fluctuating prices. Also, in recent years, the widening gap between demand and supply has increased the costs of raw materials substantially. Any surge in the price of raw materials not only increases the manufacturing costs, but also reduces the profit margins for vendors. Also, to stay competitive in the market, vendors generally experiment with cheaper substitutes. In addition, suppliers of raw materials have the power to price their products at competitive and different prices. Sucrose is the most prevalent sugar used in maple syrup.
B&G Foods, Pinnacle Foods, The J.M.Smucker Company, The Kraft Heinz Company, American Garden, Amoretti, Butternut Mountain Farm, Cedarvale Maple Syrup, Coombs Family Farms, DaVinci Gourmet, Hidden Springs Maple, Hungry Jack's, Log Cabin, Monin, Nature’s Way Products, Starbucks Corporation, Torani, and Williams-Sonoma.
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