Industry Experts Provide Market Forecast for 2021

Industry leaders gathered at the NAMSC conference on October 22nd to provide insights into the current state of the market, with a particular focus on syrup sales trends. David Ellis from Butternut Mountain Farm in Morrisville, Vt. highlighted that syrup is becoming more of a grocery staple beyond just breakfast, indicating a positive outlook for consumer demand.

Adding to this sentiment, Ben Fisk from Ben’s Sugar Shack in Temple, N.H. expressed hope for expanding syrup usage by suggesting incorporating a daily dose of maple syrup into coffee. While the panelists refrained from making specific predictions about bulk prices, they collectively painted a picture of a lively maple marketplace driven by strong consumer sales.

Evidence of the thriving market was demonstrated by Quebec’s substantial 2024 syrup crop, of which a significant portion has already been sold. David Hall, a board member of the Quebec syrup federation, disclosed that out of the 230 million pounds produced, 160 million pounds have been distributed, leaving just 40 million pounds in reserve.

The group also debated the growing importance of organic syrup, with varying opinions on its current supply and demand balance. Despite differing perspectives, Nathan Bissell of Bissell Maple Farms in Jefferson, Ohio, stressed the importance of catering to consumer preferences, even if it means producing more organic syrup than current demand requires.

A shift in industry dynamics was noted by Matthew Bascom of Bascom Maple Farms, who observed a plateau in tubing sales. Ben Fisk pointed out that labor shortages are hindering the ability of producers to expand their operations, prompting a focus on improving efficiency by maximizing output per taphole.

Looking towards the future, Nathan Bissell highlighted the immense opportunity present in the ingredient market, suggesting a promising outlook for industry growth. Food safety emerged as another key topic of discussion, with panelists emphasizing the heightened standards set by grocery chains. David Ellis underscored that maintaining food safety practices is non-negotiable in today’s market, with Matthew Bascom echoing the sentiment and urging sugarmakers to modernize their operations to meet evolving industry requirements.