PUBLISHER: The Business Research Company | PRODUCT CODE: 1597008
PUBLISHER: The Business Research Company | PRODUCT CODE: 1597008
Canola proteins are obtained from the seeds of the canola plant (Brassica napus), which belongs to the mustard family. These proteins are recognized for their high nutritional content, featuring essential amino acids and a beneficial amino acid profile. Canola proteins are frequently used in food products, animal feed, and as a potential ingredient in plant-based protein alternatives. Additionally, they are lower in allergens compared to many other plant proteins, making them a versatile choice for various dietary needs.
Canola protein primarily comes in organic and conventional forms. Organic canola protein is sourced from canola crops cultivated without synthetic pesticides, herbicides, or genetically modified organisms (GMOs), in compliance with organic farming standards. It is available in different forms, such as canola protein isolates, canola protein concentrates, and canola protein hydrolysates. This protein is utilized across multiple end-use sectors, including food and beverages, nutraceuticals, animal feed, personal care products, pharmaceuticals, and more.
The canola protein market research report is one of a series of new reports from The Business Research Company that provides canola protein market statistics, including the canola protein industry's global market size, regional shares, competitors with a canola protein market share, detailed canola protein market segments, market trends and opportunities, and any further data you may need to thrive in the canola protein industry. This canola protein market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The canola protein market size has grown rapidly in recent years. It will grow from $2.39 billion in 2023 to $2.63 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth during the historic period can be attributed to the rising demand for plant-based protein sources among health-conscious consumers, the increasing use of canola in livestock feed due to its high protein content, the growing popularity of canola oil as a healthier alternative for cooking, which has boosted overall canola production, heightened awareness of environmental sustainability and the advantages of crop rotation with canola, and expanded research and development efforts in canola breeding to improve both protein content and oil quality.
The canola protein market size is expected to see rapid growth in the next few years. It will grow to $3.91 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth during the forecast period can be attributed to the expanding global population, which is driving higher food demand, particularly for plant-based proteins. The increasing trend towards veganism and vegetarianism is boosting demand for plant protein sources, while greater investment in biotechnology aims to enhance canola varieties for improved protein yields. Rising consumer preference for clean-label products, including sustainably sourced proteins, and government initiatives supporting sustainable agriculture are also promoting canola cultivation. Key trends in the forecast period include a shift towards sustainable and organic farming practices in canola production, increased use of canola protein in functional foods and supplements, innovations in processing technologies to improve protein extraction efficiency, growing collaborations between food manufacturers and agricultural producers to ensure sustainable canola protein supplies, and the rise of canola protein-based ingredients in the food industry, particularly in meat alternatives and dairy substitutes.
The growing demand for plant-based protein products is expected to drive the expansion of the canola protein market in the future. Plant-based protein is derived from sources such as legumes, grains, nuts, and seeds, providing an alternative to animal-based protein in diets and food products. As consumers increasingly prioritize health and environmental sustainability, they are turning toward alternatives to animal proteins, particularly in developed markets. Plant-based proteins, such as canola, are gaining popularity due to their nutritional benefits and lower environmental impact. For example, in April 2024, Albert Heijn, a supermarket chain in the Netherlands, reported that in 2023, 44.1% of the proteins it sold were plant-based, an increase from 42.6% in 2022. Thus, the rising demand for plant-based proteins is contributing to the growth of the canola protein market.
Leading companies in the canola protein market are focusing on technological advancements, such as canola protein isolate, to strengthen their competitive position. Canola protein isolate is a high-purity, plant-based protein derived from canola seeds, offering excellent nutritional value, taste, and functionality. For instance, in May 2024, Burcon NutraScience, a Canadian plant-based protein development company, introduced its high-purity canola protein isolate. With over 90% protein purity, a complete amino acid profile, and outstanding solubility, this product is well-suited for a range of food and beverage applications. This innovation meets the growing demand for sustainable, plant-based proteins that deliver both functionality and taste. However, challenges remain, including scaling production and gaining market adoption, as companies address evolving consumer preferences and regulatory requirements.
In November 2022, Germany-based chemical company BASF SE acquired Cargill's canola seed production facility for an undisclosed amount. This acquisition is part of BASF's strategy to enhance its portfolio, particularly through its InVigor Health Hybrids, which focus on high-oleic canola seeds. The move aims to expand BASF's presence in the North American agricultural market and bolster its leadership in canola production. The acquisition integrates BASF's existing seeds, traits, and crop protection operations, aligning with the company's commitment to agricultural innovation and sustainability. Cargill Incorporated is a US-based company that operates in food, agriculture, and industrial products, including canola.
Major companies operating in the canola protein 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
North America was the largest region in the canola protein market in 2023. The regions covered in the canola protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the canola protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The canola protein market consists of sales of canola protein flour, cold-pressed canola protein, and soluble canola protein. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Canola Protein Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on canola protein market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for canola protein ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The canola protein market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.