Maple Syrup: Markets & Growth Opportunities
In response to a work request issued by the Vermont Agency of Agriculture Food and Markets, Atlantic Corporation (Atlantic) performed extensive market research on maple syrup and value-added products to determine market conditions, trends in consumer demand, and current distribution channels and to outline the most advantageous strategies for Vermont maple syrup producers to be competitive in a global market. This research report consists of the following tasks as proposed in the application and described in detail in the following sections:
- Conduct an analysis of the global market conditions and context including current and historic rates of global production and consumption, trade flows and anticipated growth, current market conditions, and opportunities for growth in global markets.
- Conduct an analysis of the domestic market conditions broken down by key states including current and historic rates of global production and consumption, trade flows and anticipated growth, current market conditions, and opportunities for growth in global markets.
- Describe key trends and developments in global and domestic markets such as processed maple food products, beverages, innovations in health and wellness, adaption of new technology, case studies in innovation.
- Define the competitive landscape to identify key constraints facing the industry, review growth opportunities by product and sales channel, and recommend engagement strategies. A SWOT analysis was conducted as a part of this objective.
As a result of the research conducted for this report, we are confident that the following recommended marketing strategies and opportunities will provide the Vermont maple syrup industry with a competitive advantage in the global market. Vermont producers could benefit from a focus on entering or expanding into new, niche markets targeting a variety of consumer trends. The key factor for the economic health of the Vermont maple syrup industry is to brand and market its products to sustain high market demand, allowing the key stakeholders to benefit from a market-driven economy rather than in a perilous supply-driven dynamic that typically leads to lower prices.
This research was the first phase of a Specialty Crop Block Grant Program project. Following this research the Agency of Agriculture will work with Food Export Northeast to conduct three international market research reports. These reports will outline country specific import and nutrition regulations, consumer preferences, label recommendations, and a competitive analysis which will include other brand names, packages, sizes, regular retail prices, current price specials, and shelf space allotments for similar products. In addition to the first hand research, we will also be provided a list of importers and distributors for Vermont producers to contact.
This research was prepared for the Vermont Agency of Agriculture, Food and Markets with funding from the Vermont Specialty Crop Block Grant Program.
Please contact Lauren Masseria at Lauren.Masseria@vermont.gov with any questions regarding this report.
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