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.

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Global Canola Protein Market: Market Segmentation

On the basis of Nature, the global canola market has been segmented as,

  • Organic
  • Conventional

On the Basis of Form, the global canola protein market has been segmented as,

  • Canola Protein Isolates
  • Canola Protein Concentrates
  • Canola Protein Hydrolysates

On the basis of Application, the global canola protein market has been segmented as,

  • Food & Beverage
    • Bakery & Confectionery
    • Snacks & Cereals
    • Convenience Food
  • Animal Feed
  • Pharmaceuticals
  • Nutraceuticals
    • Dietary Supplements
    • Protein Bars

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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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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