Canada Plant Protein Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 382.80 Million |
| Market Size (2029) | USD 505.80 Million |
| CAGR (2024 - 2029) | 5.73 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Canada Plant Protein Market Analysis
The Canada Plant Protein Market size is estimated at USD 382.80 million in 2024, and is expected to reach USD 505.80 million by 2029, growing at a CAGR of 5.73% during the forecast period (2024-2029).
- Consumer inclination toward consuming healthy and functional food products is increasing due to the rising prevalence of lifestyle diseases like diabetes, obesity, high blood pressure, and many more. Plant proteins like soy, peas, potato, wheat, and others provide all essential amino acids and can be used as an alternative for animal protein in different industries.
- The demand for plant-based alternatives is increasing among vegan and vegetarian consumers, due to which plant proteins are being used in different food and beverages. Also, the demand for clean-label, natural, and organic products is increasing in the country due to rising health consciousness. Owing to this, the manufacturers are innovating food and beverage products with plant proteins to increase their nutritional quality and functionality.
- Furthermore, the use of plant proteins in infant and baby food is also increasing as they are easily digestible and a good source of minerals as well. The demand for plant protein in personal care products is also growing due to the increasing demand for clean-label ingredient products. Plant proteins like potato protein and rice proteins are used in cosmetics like night creams and moisturizers for the reduction of wrinkles and blemishes. Also, the use of plant protein in animal feed is growing as it gives the animals proper nutrition and health.
- Owing to the increasing market demand, the market players are launching innovative plant protein ingredients to cater to rising demand. For instance, in October 2022, Roquette Freres launched a line of pea ingredients that include organic pea protein. Over the medium term, the demand for pea proteins is expected to increase owing to the rising demand for healthy and functional meat alternatives.
Canada Plant Protein Market Trends
Increasing Demand for Plant-Based Food and Beverages
- Consumer demand for plant-based food and beverages is increasing in the country owing to the increasing consumption of vegan food and beverages. Health-conscious consumers in the country are looking for healthy meat alternatives due to the increasing prevalence of lifestyle diseases like obesity, high blood pressure, diabetes, and many more. Owing to this, the demand for plant proteins is also increasing among manufacturers.
- Manufacturers are using plant proteins as functional ingredients in food and beverages. Also, plant proteins are being used in sports nutrition products like protein powders and beverages. As sports participation is increasing, the demand for protein-rich food and beverages is also increasing.
- Additionally, the demand for dairy substitutes is also increasing, due to which the demand for oat protein, soy protein, and others is also increasing. Furthermore, consumer demand for organic, clean-label, and natural-based food and beverages is increasing. Due to this, the market players are launching organic plant protein ingredients.
- The market players are innovating new plant proteins to cater to increasing market demand in the country. For instance, in February 2022, Benson Hills Inc. launched TruVail soy protein ingredients that are claimed to be non-genetically modified organism (GMO).
Pea Protein is the Fastest Growing Segment
- Pea protein is being consumed in large quantities in Canada due to the increasing demand for vegan food and beverages. The manufacturers are using pea protein in different food products like protein powders, beverages, supplements, infant formulas, and many more. Owing to this, the market players are launching new pea protein ingredients in the market. The consumption of clean-label, non-genetically modified organism (GMO), and organic products is increasing. Pea protein provides nutritional benefits and can be used in flexitarian products to increase functionality and texture as well.
- Owing to the increasing demand, the market players are expanding their product portfolio with the launch of new products and acquisitions to cater to growing market demand. For instance, in February 2021, International Flavors and Fragrances acquired DuPont's Nutrition and Biosciences segment. The segment includes the production of ingredients, including plant-based proteins. Over the medium term, the demand for pea proteins is expected to increase owing to the increasing demand for vegan food ingredients.
Canada Plant Protein Industry Overview
The Canada plant protein market is fragmented, with regional and global players dominating the market. The prominent players in the market include Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group PLC, Roquette Frères, and CHS Inc. As the demand for plant-based protein is increasing, the market players are innovating new products to cater to growing demand. For instance, In June 2021, Axiom Foods launched a new pea protein, made from Pisum sativum yellow peas, that is majorly used as a meat replacement and an extender. It reduces the cost of nuggets, patties, and meatballs while adding nutritional content, protein, and juiciness.
Canada Plant Protein Market Leaders
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Archer Daniels Midland Company
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DuPont de Nemours Inc.
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Kerry Group PLC
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Roquette Frères
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CHS Inc
*Disclaimer: Major Players sorted in no particular order
Canada Plant Protein Market News
- May 2022: Canadian Ag-tech plant-based processor PIP International introduced UP.P, a novel pea protein known for its exceptional quality and functionality. The company asserts that it has successfully enhanced the taste, appearance, and texture of its ingredients.
- October 2021: Roquette Freres inaugurated a state-of-the-art production facility in Canada dedicated to the manufacturing and distribution of pea protein to numerous countries worldwide. This expansion marked a significant stride in the company's global footprint.
- February 2021: Merit Functional Foods unveiled its cutting-edge 94,000-square-foot plant-based protein facility located in Winnipeg, Manitoba. This facility is equipped to optimize the production of both pea and canola proteins, catering to the food and beverage industry. Initially, it will process 25,000 tons of raw materials, with the potential for expansion in the future, possibly reaching an annual requirement of over 100,000 tons.
Canada Plant Protein Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Increasing Demand for Plant-Based Food and Beverages
- 4.1.2 Increasing Application of Plant Proteins in Animal Feed
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4.2 Market Restraints
- 4.2.1 Higher Cost of Production of Plant Proteins
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Protein Type
- 5.1.1 Hemp Protein
- 5.1.2 Oat Protein
- 5.1.3 Pea Protein
- 5.1.4 Potato Protein
- 5.1.5 Rice Protein
- 5.1.6 Soy Protein
- 5.1.7 Wheat Protein
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5.2 End-User
- 5.2.1 Animal Feed
- 5.2.2 Personal Care and Cosmetics
- 5.2.3 Food and Beverages
- 5.2.3.1 Bakery
- 5.2.3.2 Beverages
- 5.2.3.3 Breakfast Cereals
- 5.2.3.4 Condiments/Sauces
- 5.2.3.5 Confectionery
- 5.2.3.6 Dairy and Dairy Alternative Products
- 5.2.3.7 RTE/RTC Food Products
- 5.2.3.8 Snacks
- 5.2.4 Supplements
- 5.2.4.1 Baby Food and Infant Formula
- 5.2.4.2 Elderly Nutrition and Medical Nutrition
- 5.2.4.3 Sport/Performance Nutrition
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Archer Daniels Midland Company
- 6.3.2 Cargill Inc
- 6.3.3 Roquette Freres
- 6.3.4 The Scoular Company
- 6.3.5 Kerry Group PLC
- 6.3.6 DuPont de Nemours Inc.
- 6.3.7 Axiom Foods
- 6.3.8 Merit Functional Foods
- 6.3.9 Glanbia Plc
- 6.3.10 CHS Inc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityCanada Plant Protein Industry Segmentation
Plant proteins are extracted from plants and can be used in different food and beverage products.
Canada's plant protein market is segmented by protein type into hemp protein, oat protein, pea protein, potato protein, rice protein, soy protein, and wheat protein. The market is segmented by end-user into animal feed, personal care and cosmetics, food and beverages, and supplements. The food and beverage segment is further segmented into bakery, beverages, condiments/sauces, confectionery, dairy and dairy alternatives, RTE/RTC food products, and snacks. The supplements segment is further segmented into baby food and infant formula, elderly nutrition and medical nutrition, and sport/performance nutrition.
The market sizing has been done in value terms in USD in volume terms in tons for all the abovementioned segments.
| Protein Type | Hemp Protein | |
| Oat Protein | ||
| Pea Protein | ||
| Potato Protein | ||
| Rice Protein | ||
| Soy Protein | ||
| Wheat Protein | ||
| End-User | Animal Feed | |
| Personal Care and Cosmetics | ||
| Food and Beverages | Bakery | |
| Beverages | ||
| Breakfast Cereals | ||
| Condiments/Sauces | ||
| Confectionery | ||
| Dairy and Dairy Alternative Products | ||
| RTE/RTC Food Products | ||
| Snacks | ||
| Supplements | Baby Food and Infant Formula | |
| Elderly Nutrition and Medical Nutrition | ||
| Sport/Performance Nutrition |
Canada Plant Protein Market Research FAQs
How big is the Canada Plant Protein Market?
The Canada Plant Protein Market size is expected to reach USD 382.80 million in 2024 and grow at a CAGR of 5.73% to reach USD 505.80 million by 2029.
What is the current Canada Plant Protein Market size?
In 2024, the Canada Plant Protein Market size is expected to reach USD 382.80 million.
Who are the key players in Canada Plant Protein Market?
Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group PLC, Roquette Frères and CHS Inc are the major companies operating in the Canada Plant Protein Market.
What years does this Canada Plant Protein Market cover, and what was the market size in 2023?
In 2023, the Canada Plant Protein Market size was estimated at USD 360.87 million. The report covers the Canada Plant Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Plant Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada Plant Protein Industry Report
Statistics for the 2024 Canada Plant Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Plant Protein analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
