Canola Protein: Market Outlook
Proteins are the building blocks of the muscles and have been identified as an important nutrient for the human body. The FAO and global food Security has quoted that the necessary protein quantity and suitable protein quality are the fundamental rights of every human being on the earth. As the population is increasing across the globe, the demand for animal protein has increased over the past few years. The impact of the consumption of the animal protein on the ecological system and environment has led to the rise in the need for plant-based proteins across the globe.
Canola is the second-largest oilseed produced in the world after the soybean. Canola produces the protein-rich meal during the oil extraction process. The manufacturers of canola proteins have lucrative opportunities as the high-quality human protein source. Canola protein contains all the amino acid profiles that required for the human body and hence, canola is considered as the complete protein in the plant-based protein segment. The canola protein is the economic and sustainable source of protein with high bioavailability and digestibility. Despite years of research on the canola proteins, various procedures and technologies have been evolved and developed and the canola protein incorporated products have been produced, still, there are very few canola proteins incorporated products are available in the market.
Global Canola Protein Market: Market Participants
Some of the market participants operating in the global canola protein market identified across the value chain include DuPont de Nemours Inc., Archer Daniels Midland Company, Cargill Inc., Bunge Ltd., Mead Johnson, Roquette Freres, Burcon NutraScience, MGP Ingredients, Axiom Foods, Tate & Lyle Plc., Kerry Group, Omega Protein Corporation, Glanbia Plc., Teutexx Proteins, DSM N.V. among the other canola protein manufacturers.
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Opportunities for Participants in the Global Canola Protein Market
The established markets such as North America and Europe have an increasing demand for the canola protein. North America is the leader in the production and consumption of canola protein followed by Europe. Canola protein is derived product in the U.S. and Canada and they are leading consumers of canola protein in the world market. The increasing number of population that inclining towards the vegan and vegetarian diet is also propelling the demand for the canola protein across the globe. The countries from Europe such as the U.K., France, Germany, Italy, Russia have the highest demand for the canola protein in the European region. Many manufacturers of canola proteins also have a presence in the European region owing to the strong collaborations and partnerships with the research institutes and universities.
Over the past few years, emerging markets such as South Asia and East Asia have experienced substantial growth in the canola protein market. The increasing apprehension about the health issues and growing popularity of the plant-based proteins for weight management are crucial factors that are heavily impacting the canola market and are responsible for the increasing demand for the canola proteins in South Asia and East Asia. The larger consumer base in South Asia and East Asia is the advantage for the manufacturers in the global canola protein market. The increasing trend of clean label products and sustainable food products projecting the lucrative opportunities for the players to expand their geographical reach and penetrate the emerging markets from South Asia and East Asia. The costly extraction process and low awareness about the canola protein in the Latin America and Middle East & Africa region making them the least attractive markets for the key players in the global canola protein market. The ever-growing demand for dietary supplements across the globe is anticipated to provide a substantial thrust to the global canola protein market over the forecasted period.
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