Canada Animal Protein - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Canada Animal Protein - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Canada animal protein market was valued at USD 258.7 million for the current year and is projected to register a CAGR of 3.79% over the next five years.

Key Highlights

• The animal protein market is majorly driven by the increasing demand for animal proteins from the food and beverages, cosmetics, and personal care sectors. Animal proteins are increasingly being adopted in the country owing to the growing awareness about the health advantages associated with animal proteins, such as whey protein, egg protein, and others. Moreover, the increasing demand for animal protein products in supplements and animal feed is further propelling the market growth.
• With the growing number of health-conscious consumers seeking high-protein, high-nutritional-value supplements, the market is expected to grow. Animal-based proteins offer numerous health benefits that are backed by scientific evidence and accepted by government food regulators such as the Food and Drug Administration (FDA).
• The increasing number of health issues among consumers due to a lack of healthy nutrients is expected to drive market growth. Consumption of high-protein products is the leading trend among consumers and has contributed to the expansion of the animal protein market. As the population is increasingly interested in sports and fitness, the need for animal protein products will continue to grow.

Canada Animal Protein Market Trends

Growing Applications of Animal Proteins the in Personal Care and Cosmetics Industry

• Over the years, various animal proteins have been explored by hair cosmetic industries for the development of different protein-based cosmetic formulations. Animal proteins are multifunctional ingredients that are used in the preparation of a wide range of cosmetic products. The proteins from egg yolk have incredible cosmetic effects and are widely being adopted in the cosmetic industry.
• When broken into peptides, the phosvitin protein present in the egg is known to be a strong antioxidant, antiviral, antibacterial, and metal-chelating agent owing to the high number of serine amino acids present in phosvitin that are phosphorylated. Canada's strong and dynamic economy offers a reliable market for the cosmetic companies in the country that are looking to enter and expand in the cosmetics market, which is driving the market growth.
• Manufacturers of beauty products are inclining towards prevailing product trends, including a higher demand for natural or organic and quality cosmetic products. With these growing consumer preferences, organically sourced products now represent about 40% of the country's skincare market, according to the International Trade Association Report in 2021. Animal proteins are increasingly used to improve the performance of cosmetic products, particularly in anti-aging personal care treatments.
• Cosmetics featuring animal proteins are fostering new avenues for innovation in product formulation, aimed at achieving a competitive edge in the market. In the midst of the ongoing trend towards inventive ingredients, companies are placing their emphasis on the exploration of fresh animal proteins for inclusion in cosmetic formulations. They are adopting a scientific approach to comprehending these intricate components, particularly in terms of total protein content, which not only supports product development but also enhances quality control during production. This approach is contributing positively to the growth of the animal protein market within the country.

Increasing Adoption of Animal Proteins in Supplements

• The growing awareness about the prevalence of chronic diseases owing to the changing lifestyle of the millennial generation is enhancing the consumption of high-protein supplements, which is, in turn, contributing to the growth of the animal protein market. Additionally, the increased focus on physical fitness among consumers is likely to drive the use of egg proteins for sports nutrition applications.
• Furthermore, the growth of health and fitness centers is expected to further stimulate the demand for animal-based proteins in supplements. Manufacturers are also striving to provide convenient formats for animal-derived protein supplements to attract customers in the country, which is one of the major factors driving the market growth.
• Consumers in the country are adopting supplements as their daily diet, with protein as protein is a key factor in immunity building. This trend is expected to continue in the near future and is expected to drive the animal protein product demand in the country over the next few years. Whey proteins are increasingly being adopted in the country to help boost muscle protein synthesis and the growth of lean muscle mass. According to the Council for Responsible Nutrition report in 2021, 70% of consumers increased their consumption of supplements since the pandemic.

Canada Animal Protein Industry Overview

The Canada animal protein market is fragmented, with numerous domestic and multinational players vying for a larger share of the market. The key players are adopting strategic approaches such as mergers, acquisitions, partnerships, and expansions, as well as focusing on new product development to enhance their brand presence among consumers.

Additionally, the major players in the market are focusing on innovating and launching their products around the world. Companies such as Arla Foods and Glanbia are keen on product development and increasing their exports to diversify their product portfolio and capture the major share of the market. A few major players present in the market studied are Agropur Dairy Cooperative, Arla Foods amba, Fonterra Cooperative Group Limited, Glanbia PLC, and Saputo Inc., among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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