Assessing the growth potential and future outlook for the US maple syrup industry
Abstract
There is currently a tremendous opportunity to increase the amount of maple syrup produced in the US. This paper addresses the number of potentially tappable maple trees, the factors that affect their utilization for syrup production, and the overall future outlook for the maple industry. The latest USFS FIA data for 19 states was analyzed in order to estimate the number of potential taps while the utilization rate was based on the 2008 NASS data. The US currently only taps .4 [percent] of all potentially tappable maple trees, with the highest percentage of trees tapped in Vermont, at 2.1 [percent]. If all states were to tap the same percentage of maples that sugarmakers in Vermont do, the resulting economic impact would be over $300 million annually. During the current economic recession, there is increasing attention given to strategies aimed at growing the US maple industry. Demand is still strong, prices are at record levels, and many sugarmakers are expanding their operations while others are just getting started. Although the current outlook is bright, long-term concerns for the US maple industry include climate change, the exchange rate and production levels in Canada, invasive species such as Asian longhorn beetle, and the overall global economic outlook.