Canola Proteins Market by Nature (Conventional, Organic), Form (Canola Protein Concentrates, Canola Protein Hydrolysates, Canola Protein Isolates), End-Use - Global Forecast 2024-2030

Canola Proteins Market by Nature (Conventional, Organic), Form (Canola Protein Concentrates, Canola Protein Hydrolysates, Canola Protein Isolates), End-Use - Global Forecast 2024-2030

The Canola Proteins Market size was estimated at USD 1.92 billion in 2023 and expected to reach USD 2.01 billion in 2024, at a CAGR 4.91% to reach USD 2.69 billion by 2030.

Canola proteins are derived from canola seeds, the same seeds used to produce canola oil. After the oil extraction, the remaining seed material, which is rich in protein, is processed for separating the protein from other components such as fiber and carbohydrates. The protein extracted from canola seeds is known for its nutritional qualities, including a good balance of necessary amino acids, making it a valuable protein source for various food products. Canola proteins are utilized in protein bars, beverages, and meat substitutes, offering a plant-based protein alternative for various dietary needs. The canola proteins market is growing due to the escalating consumer interest and demand for plant-based proteins. This trend is driven by growing health awareness, dietary preferences shifting towards veganism, and the high nutritional profile of canola protein, which includes essential amino acids and the low levels of anti-nutritional factors. In addition, Canola proteins are increasingly used in the food & beverage industry, where they are used as emulsifiers, texturizers, and protein supplements, further propelling the market growth. However, the proliferation of alternative protein sources significantly influences the market expansion of canola proteins. Consumers have more options, such as pea, soy, and algae proteins, and their varied preferences can impede the growth of the canola proteins market. The ongoing improvement in extraction technologies offers significant opportunities for market growth, fostering an increase in adoption across various industries, including food and beverages, pharmaceuticals, and cosmetics. These technological advancements facilitate higher yields and better protein quality, making canola a viable option for companies looking for plant-based protein sources.

Regional Insights

The market for canola proteins is expanding steadily in the Americas, particularly in the United States and Canada, which is driven by growing consumer awareness regarding health and wellness and the demand for plant-based protein products. Canola protein is popular in the American region due to its beneficial properties, such as being low in anti-nutritional factors and containing all essential amino acids. The application in food industries, including bakery and meat substitutes, is growing, fueled by evolving dietary preferences towards more sustainable and plant-based diets. The canola proteins market in the Asia-Pacific region showcases growth driven by a shift toward healthier lifestyle choices and the rising vegan population in countries such as China, India, and Australia. In addition, increasing income levels and urbanization in the region also play a crucial role in the rising consumption of health-centric foods. In the EMEA region, particularly in Europe, the demand for canola proteins is rising, particularly in countries with rigorous standards for food additives and a strong influence of vegan and vegetarian lifestyles, such as Germany and the UK. The canola proteins market growth is propelled by the growing popularity of clean label and non-GMO products among European consumers. The Middle East and Africa are also experiencing steady market growth influenced by improving economic conditions and a growing emphasis on health and nutritional security.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Canola Proteins Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising demand in plant-based protein products
• Increasing applications in the food and beverage industry
• Growing lactose intolerance and gluten sensitivity

Market Restraints

• Fluctuations in the availability of raw materials

Market Opportunities

• Government and regulatory support for sustainable agricultural practices
• Ongoing advancements in extraction and processing technologies

Market Challenges

• Availability of alternative protein sources

Market Segmentation Analysis

• Nature: Increasing demand for conventional canola proteins owing to their versatility and cost-effectiveness
• End-Use: Widening use in meat alternatives due to their excellent nutritional profile and functional properties

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Canola Proteins Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Canola Proteins Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

USD 31 Million Investment Announced to Boost the Market for High-Protein Canola and Sunflower Products

Protein Industries Canada, in collaboration with Corteva Agriscience, Botaneco, Bunge, Rainfed Foods, and Northeast Nutrition Inc., announced a significant USD 31 million investment aimed at enhancing the demand and marketability of high-protein canola, sunflower protein, and innovative oilbody products. In this venture, Protein Industries Canada is contributing USD 13.4 million, with the alliance partners providing the remaining funds. This investment underscores a strategic move to diversify and strengthen the plant protein sector, fostering economic growth and sustainability in agriculture.

Botaneco Launched Alofin, A New Canola Protein Concentrate to Transform the Global Aquafeed Industry

Botaneco advanced its unique canola protein ingredient, Alofin, which is a canola concentrate and is strategically positioned to penetrate the global aquafeed market, which annually requires over 5 million metric tons of protein. This development marks a significant step as the product approaches global market introduction, aiming to meet the high protein demands of the burgeoning aquaculture industry.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Canola Proteins Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Canola Proteins Market, highlighting leading vendors and their innovative profiles. These include Axiom Foods, Inc., Botaneco Inc., Bunge Global SA, Burcon NutraScience Corporation, Cargill, Inc., CHS Inc., Kerry Group PLC, Koninklijke DSM N.V., Merit Functional Foods, PROTEIN INDUSTRIES CANADA INC., Richardson International Limited, The Scoular Company, and Wilmar International Limited.

Market Segmentation & Coverage

This research report categorizes the Canola Proteins Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Nature
• Conventional
• Organic
• Form
• Canola Protein Concentrates
• Canola Protein Hydrolysates
• Canola Protein Isolates
• End-Use
• Bakery & Confectionery
• Dairy Replacements
• Food Processing
• Functional Foods
• Meat Alternatives

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year