What Is The Overview Of The Global Canola Protein Market?
Canola proteins are derived from the seeds of the canola plant (Brassica napus), which is a member of the mustard family. These proteins are known for their high nutritional value, containing essential amino acids, and a favorable amino acid profile. Canola proteins are often utilized in food products, animal feed, and as a potential ingredient in plant-based protein alternatives. They are also low in allergens compared to some other plant proteins, making them a versatile option in various dietary applications.
Canola Protein Global Market Report 2024 provides data on the global canola protein market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The canola protein market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Canola Protein ?
The canola protein market has experienced rapid growth, expanding from $2.39 billion in 2023 to $2.63 billion in 2024 at a CAGR of 10.2%. Growth drivers include rising demand for plant-based proteins, adoption in livestock feed, the popularity of canola oil, and advances in canola breeding. By 2028, the market is forecast to grow to $3.91 billion at a CAGR of 10.4%, driven by population growth, veganism trends, biotechnology investments, clean-label preferences, and sustainable agriculture initiatives. Emerging trends include sustainable farming practices, functional food applications, and innovations in protein extraction.
What Factors Are Driving Growth In The Canola Protein Market?
The growing interest in plant-based protein alternatives is fueling the expansion of the canola protein market. Plant-based proteins, derived from sources like legumes, grains, nuts, and seeds, offer a sustainable and health-conscious substitute for animal-based options. With heightened consumer awareness about health and environmental impact, demand for these alternatives is particularly strong in developed regions. Canola protein, valued for its nutritional benefits and reduced environmental footprint, is gaining popularity among food manufacturers and consumers. For example, Albert Heijn, a Dutch supermarket chain, reported in April 2024 that 44.1% of proteins sold in 2023 were plant-based, up from 42.6% in 2022. This surge in demand is driving the growth of the canola protein market.
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What Are The Main Segments Of The Global Canola Protein Market?
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
What Emerging Trends Are Influencing The Growth Of The Canola Protein Market?
In the canola protein market, companies are introducing high-purity protein isolates to meet rising demand for plant-based alternatives. These isolates offer excellent taste, nutrition, and functionality for food and beverage applications. For example, in May 2024, Burcon NutraScience launched a canola protein isolate with over 90% purity and a complete amino acid profile. This product addresses growing consumer interest in sustainable, plant-based nutrition while overcoming challenges like scalability and market adoption.
What Is The Largest Region In The Canola Protein Market?
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.
