Canola Protein Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Canola Protein Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The canola protein market is experiencing rapid growth, expected to rise from $2.39 billion in 2023 to $2.63 billion in 2024 at a CAGR of 10.2%. This growth is fueled by increasing demand for plant-based proteins, the rising popularity of canola oil, and growing research into enhancing protein content and oil quality.
What Is the Expected Size of the Global Canola Protein Market, and How Fast Will It Grow?
The market is set to grow to $3.91 billion by 2028 at a CAGR of 10.4%. This growth is propelled by increasing demand for plant-based proteins, a shift toward veganism, innovations in biotechnology to enhance canola protein yields, and rising consumer preference for clean-label, sustainably sourced products. Trends include sustainable farming practices, greater use of canola protein in functional foods, and increasing investment in processing technologies to boost protein extraction efficiency.
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What Is Accelerating Growth in the Canola Protein Market?
As consumers increasingly turn to plant-based diets for health and environmental reasons, the demand for plant-based protein sources like canola is expected to grow. Canola protein, known for its nutritional profile and lower environmental footprint compared to animal proteins, is gaining popularity in food products. A 2023 report from Albert Heijn, a Dutch supermarket chain, revealed that plant-based proteins made up nearly 44% of the store’s protein sales, reflecting a growing trend that will drive demand for canola protein.
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Who Are the Major Players Influencing the Canola Protein Market Growth?
Major companies operating in the market are Archer Daniels Midland Company, Wilmar International Limited, Bunge Global Markets LLC, CHS Inc., Corteva Inc., The Scoular Company, DSM Nutritional Products Inc., Amway Corp., Glanbia plc, Roquette Brothers SA, Richardson International Limited, Tate & Lyle PLC, AGT Food and Ingredients Inc., MGP Ingredients Inc., SunOpta Inc., Axiom Foods Inc., Burcon NutraScience Corporation, Botaneco Inc., Prairie AquaTech LLC, NapiFeryn BioTech
What Are the Latest Trends Influencing Canola Protein Market Size?
The market is also evolving with the introduction of high-purity canola protein isolates. Burcon NutraScience's launch in May 2024 of a canola protein isolate with over 90% purity addresses the rising demand for sustainable plant-based proteins, offering excellent nutritional value and functionality. However, challenges in scaling production and market adoption persist.
How Is The Global Canola Protein Market Segmented?
The canola protein market covered in this report is segmented –
1) By Nature: Organic, Conventional
2) By Form: Canola Protein Isolates, Canola Protein Concentrates, Canola Protein Hydrolysates
3) By End-Use: Food And Beverages, Nutraceuticals And Feed Grade, Personal Care, Pharmaceuticals, Other End-Users
Geographical Insights: North America Leading The Canola Protein Market
North America was the largest region in the market in 2023. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Canola Protein Market Definition
Canola proteins are plant-based proteins derived from the seeds of the canola plant, a member of the mustard family. These proteins are rich in essential amino acids and offer nutritional benefits with fewer allergens compared to other plant proteins. Canola proteins are utilized in food products, animal feed, and plant-based protein alternatives.
The Canola Protein Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Canola Protein Market Report: Trends, Opportunities, Strategies, and More
The Canola Protein Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into canola protein market size, canola protein market drivers and trends, canola protein market major players, canola protein competitors' revenues, canola protein market positioning, and canola protein market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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