In a medium saucepan, whisk together the tomato sauce, apple cider vinegar, maple syrup, molasses, soy sauce, and Dijon mustard.
Stir in the smoked paprika, garlic powder, onion powder, cayenne pepper (if using), black pepper, and salt.
Place the saucepan over medium heat and bring the mixture to a simmer. Reduce the heat to low and let it simmer for 15-20 minutes, stirring occasionally. This will allow the flavors to meld and the sauce to thicken.
If the sauce becomes too thick, add water one tablespoon at a time until you reach your desired consistency.
Taste the BBQ sauce and adjust the seasoning if needed, adding more maple syrup for sweetness, vinegar for tang, or cayenne for heat.
Once the sauce has cooled, transfer it to an airtight container. It can be stored in the refrigerator for up to 1 week.