Canola Protein Market Estimated Growth Trends, Size, Share And Analysis Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Canola Protein Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 in the historic period can be attributed to rising demand for plant-based protein sources among health-conscious consumers, increasing adoption of canola in livestock feed due to its high protein content, growing popularity of canola oil as a healthier cooking oil alternative, boosting overall canola production, rising awareness of environmental sustainability and the benefits of crop rotation with canola, and increasing research and development in canola breeding to enhance 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 in the forecast period can be attributed to the expanding global population leading to higher food demand, including plant-based proteins, a growing trend towards veganism and vegetarianism, driving demand for plant protein sources, increased investment in biotechnology to improve canola varieties for higher protein yields, rising consumer preference for clean-label products, which includes sustainably sourced proteins, and government initiatives and support for sustainable agriculture, promoting canola cultivation. Major trends in the forecast period include a shift towards sustainable and organic farming practices in canola production, increasing utilization of canola protein in functional foods and supplements, emerging innovations in processing technologies to enhance protein extraction efficiency, rising collaborations between food manufacturers and agricultural producers to secure sustainable sources of canola protein, and the growth of canola protein-based ingredients in the food industry, such as meat alternatives and dairy substitutes.

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Market Drivers and Trends:

Rising demand for plant-based protein products is expected to propel the growth of the canola protein market going forward. Plant-based protein refers to protein derived from plant sources such as legumes, grains, nuts, and seeds, offering an alternative to animal-based protein in diets and food products. As consumers become more health-conscious and environmentally aware, they are increasingly seeking alternatives to animal-based proteins, especially in developed markets. Plant-based proteins such as canola, known for their nutritional value and lower environmental impact, are gaining traction among food manufacturers and end-consumers. For instance, in April 2024, according to the report of Albert Heijn, a Netherlands-based Dutch supermarket chain, in 2023, 44.1% of the proteins sold by Albert Heijn were plant-based, reflecting an increase from 42.6% in 2022. Therefore, the rising demand for plant-based protein products is driving growth in the canola protein market.

Major companies operating in the canola protein market are focusing on technological innovations, such as canola protein isolate, to gain a competitive advantage. Canola protein isolate is a high-purity, plant-based protein ingredient derived from canola seeds, offering excellent taste, nutrition, and functionality. For instance, in May 2024, Burcon NutraScience, a Canada-based plant-based protein development company, launched its high-purity canola protein isolate. This product features over 90% protein purity, a complete amino acid profile, and exceptional solubility, making it ideal for various food and beverage applications. This development addresses the rising demand for sustainable, plant-based protein alternatives that offer both functionality and taste. However, challenges remain, including production scalability and market adoption, as companies navigate the complexities of shifting consumer preferences and regulatory frameworks.

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Major Key Players of the Market:

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

Canola Protein Market 2024 Key Insights:

• 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%.
• Rising Demand For Plant-Based Protein Fuels Growth In The Canola Protein Market
• Innovations In Canola Protein Isolate Drive Competitive Edge
• North America was the largest region in the canola protein market in 2023

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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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