Global Canola Protein Market was valued at US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of 4.5% during the forecast period.
Global Canola Protein Market
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Proteins are the main parts of the muscles and are recognized as an essential nutrient for the human body. The Food and Agriculture Organization (FAO) and global food security have estimated that the required protein quantity and suitable protein quality are the necessary rights of everyone. As the population is growing across the globe, the demand for animal protein has augmented in the last few years. The effect of the consumption of the animal protein on the environment has led to an increase in the requirement for plant-based proteins worldwide. Canola protein, a source of plant protein, has useful properties like emulsification, gelling, thickening, water-binding, and ingredient-binding.
For the global food & beverage industry, the rise in more health-conscious consumers signifies both an enormous opportunity and a challenge. Consumers need alternate protein products that take the intake experience to the next level in terms of texture, taste, and mouthfeel as well as contain good nutritional content, with the least environmental footprint. For example, CanolaPRO, plant-based protein source from the canola plant that advances vegetarian products. It gives a good texture, smooth mouthfeel, and giving the satisfaction of good taste as well. As per the Canadian Agri-Food Trade Alliance, Canadian farmers harvested 23 million acres of the oilseed in 2018. The industry supports almost a quarter of a million people in the country and accounts for $12.5 billion in wages and leading as the topmost producers of canola.
On the other hand, the high inclination to animal-based protein and changing raw material prices hinders the growth of the canola protein market in the future.
By the application, the animal feed industry expected to hold the largest market share followed by food & beverage industries. Canola meal is usually used as protein sources in animal feed for livestock, poultry, and fish. It has a good amount of amino acid with high levels of methionine, lysine, and arginine as well as rich in vitamins and crucial minerals. Because of low levels of glucosinolates, bitter-tasting compounds characteristic of rapeseed, canola meal is edible to animals. According to the analyst, canola meal consumptions in dairy cow rations can increase milk production by one liter per cow per day.
Region-wise, North America expected to hold the largest market share of the canola protein market followed by the European region by 2027. U.S. and Canada are primary producers of canola protein and its derived products in North America and have a huge consumer base thanks to the people favoring the consumption of vegan and vegetarian lifestyles. U.K, France, Germany, Russia, Italy, and Spain are the foremost markets of canola protein in Europe.
The Asia-Pacific market held the highest CAGR of the global market in 2018. China, Australia, and Japan are key markets in the APAC region. Rising worry about the health-related problems and consciousness about the advantages of protein for weight management are some of the main drivers for the speedily growing demand in Asian countries. A huge opportunity for the canola protein producers to expand their market reach in the Asia-Pacific is due to a large consumer base and trend of consuming clean and sustainable food sources.
The objective of the report is to present a comprehensive analysis of the Global Canola Protein Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Canola Protein Market dynamics, structure by analyzing the market segments and project the Global Canola Protein Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Canola Protein Market make the report investor's guide.
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Global Canola Protein Market, By Nature
Global Canola Protein Market, By Form
• Canola Protein Isolates
• Canola Protein Concentrates
• Canola Protein Hydrolysates
Global Canola Protein Market, By Application
• Food & Beverage
o Bakery & Confectionery
o Snacks & Cereals
o Convenience Food
• Animal Feed
o Dietary Supplements
o Protein Bars
Global Canola Protein Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Canola Protein Market
• DuPont de Nemours Inc.
• Archer Daniels Midland Company
• Cargill Inc.
• Bunge Ltd.
• Mead Johnson
• Roquette Freres
• Burcon NutraScience
• MGP Ingredients
• Axiom Foods
• Tate & Lyle Plc.
• Kerry Group
• Omega Protein Corporation
• Glanbia Plc.
• Teutexx Proteins
• DSM N.V.
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