Dublin, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The "Canola Protein Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
This Canola Protein market 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. 
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 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. 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. 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.
Research Scope
Markets Covered:
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
Key Companies in the Canola Protein Industry: Archer Daniels Midland Company; Wilmar International Limited; Bunge Global Markets LLC; CHS Inc.; Corteva Inc.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.63 Billion |
| Forecasted Market Value (USD) by 2028 | $3.91 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
The major companies profiled in this Canola Protein market report include:
- 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
For more information about this report visit https://www.researchandmarkets.com/r/6s69id
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