The maple water market is likely to witness significant growth, with demand likely to surpass 16 million liters in 2018, according to a latest report by Fact.MR. The substantial growth in the maple water market is influenced by rise in the health-conscious population and growing demand for organic and natural food products.
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The increasing demand for sugar alternatives and convenience food products in North America is leading to the rise in production and consumption of maple water. Increase in growth and plantation of sugar maple tree across eastern Canada and the northeastern US is also driving maple water consumption in the region.
On account of growing demand for maple water and maple products in North America, the key players in the region are focusing on increasing the production capacity using efficient technologies. This is likely to put downward pressure on the price of maple water as the supply expands. Additionally, maple syrup, a product derived from maple water is witnessing increasing demand from baking and confectionery industries in North America.
The climate change and rising temperatures across the US and Canada is impacting maple tree growth. This is expected to affect the growth of maple water market in the coming years.
Massive Dominance of Unflavored Maple Water Continues
Maple water is natural and is vastly available in unflavored and raw form. The demand for unflavored maple water is projected to exceed 13 million liters by 2018 end, as per the Fact.MR report. Increasing number of food product manufacturers and restaurants are using maple water in its natural and unflavored form.
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Majority of the companies in the water bottled space are focusing on providing pure sparkling water. With an idea to offer something innovative and attract big chunk of health-conscious customers, companies are planning to bottle the maple water obtained from maple tree in its natural flavor, thereby, preserving the nutrients in maple water with sweet and woody taste.
Maple Water to Witness Highest Sales through Modern Trade Sales Channel
Compared to the various sales channels, modern trade sales channel including supermarkets and hypermarkets are likely to account for the highest sales of maple water. Fact.MR study expects the sales of maple water through modern trade sales channel to exceed 5 million liters by the end of 2018.
The existing players in the maple water market are providing packaged maple water that can be sold through giant stores including hypermarket and supermarket. Moreover, the target consumers buying products like maple syrup mostly belong to upper middle class and high class with the focus on healthy lifestyle. This is resulting in manufacturers distributing their product through the modern trade sales channel.
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Maple water is much-hyped drink in the developed countries like Canada, the US, and the UK. Manufacturers still have a sizable market to gain outside developed countries. To expand in other market across various regions, companies in the maple water market are focusing on introducing products with innovative packaging and at the best price possible.
The overall prospects for the maple water market are anticipated to remain positive. The demand for maple water is expected to reach CAGR of 8.7% in terms of volume during the forecast period, 2018-2027.
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