Maple Extracts Market Expected to Expand at a Steady CAGR through 2025
Maple sap is the popular extracts maple trees, which is the only raw material for all sorts of maple extracts product. Maple has various commercial uses which includes maple syrup, maple sugar, maple powder, maple water and maple cream, where maple syrup holds a significant value in the maple extracts market. Globally there are around 125 species of maple which mostly hail from Asia, North America, Europe and North Africa. There are around 22 species of maple provide better sugary which includes, sugar maple, black maple, red maple, silver maple and norway maple. Benefits of maple extracts includes vitamins, polyphenols, sodium, manganese, potassium and others. Having such numerous nutrition aids maple water market is currently expanding in North America and Europe. Canada is the largest producer of maple extracts products where most of the maple extracts comes from Canada province of Quebec. United States is the largest Importer of maple extracts products followed by Japan, Germany and U.K. However in the next upcoming years it is expected Quebec’s share is expected to drop and consequently high growth in USA. Maple syrup consist of anti-inflammatory and antioxidant compounds which are helpful for the diabetes and cancer patients. Maple water drink has been recognized as low caloric drink and also a great substitute of coconut drink.
Maple Extracts Market Segmentation:
On the basis of product type maple extracts market is segmented into maple syrup, maple sugar, maple cream, maple water and others. By product category maple syrup is sub-segmented into light grade syrup, medium grade syrup and dark grade syrup. Dark grade syrup have a strung maple flavor and it is mainly used in recipes or in baking. Maple sugar is sub segmented by product category into candy, chunks, taffy and powder. Maple syrup and sugar are further categorised into organic and inorganic.
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By application maple extracts is segmented into commercial use. Commercially, maple extracts are used to prepare variety range of products such as bar and donuts, ice cream, chocolate, cookies health drinks.
Geographically maple extracts market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa. North America and Western Europe are two main growing and potential markets. Japan is also an attractive segment for maple extracts market. In Asia pacific, Australia is expected to emerge as a potential market in the near future.
Maple Extracts Market Dynamics:
Awareness and availability of maple extract products are fuelling the growth of global maple extracts market. Moreover, consumers across North America and Europe are more health conscious hence products such as nutrition syrups, creams and beverages, have got high demand over these two regions. However, harvesting maple tree has certain criterion such as, its suitable temperature in the evening not below -4’c and in the daytime not up to 7’c and only available in the spring time so it needs to be preserved. Unavailability of such conditions in many regions is hampering the market growth. Moreover, absence of varied flavors in maple extracts restricts its wide applications across food and beverage industry, which is restraining the maple extracts market growth.
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Companies are continuously focused on research and development in order to offer maple extracts products to the end-users. This is due to wide opportunity in this market. Globally the maple extracts market has high potential in North America and entire Europe, moreover rest of the world is almost untapped. Not only the market development there is high probability of getting product development since the market incurs a good amount into research and development.
Maple Extracts Market Key players:
Only a few players are operating in maple extracts market, such as Eau D érable Pure Oviva, SEVA Maple Water Inc., Citadelle, maple syrup producers’ cooperative, Slopeside Syrup, Fadden’s General Store & Sugar House, La Ferme Martinette.
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