Is rapeseed the next big plant-based protein ingredient?
Rapeseed protein, also known as canola protein, is a valuable ingredient for human nutrition.
Global rapeseed protein market revenue is set to total USD 7.8 billion in 2024.
NEWARK, DE / ACCESSWIRE / July 9, 2024 / The global rapeseed protein market value is anticipated to total USD 7.8 billion in 2024 and USD 10.6 billion by 2034. Global demand for rapeseed protein will likely surge at a CAGR of 3.1% during the forecast period.
Sales remain high for rapeseed protein isolates owing to high protein content and other benefits. The target segment accounted for a revenue share of 42% in 2023 and is set to witness steady growth through 2034.
Several factors are expected to drive the growth of the rapeseed protein industry during the assessment period. One such factor is the surging demand for plant-based proteins across the world.
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Consumers, especially vegans, globally are showing a keen inclination towards consuming plant-based products. This is putting plant-based proteins like rapeseed protein into the limelight and spurring their demand.
Rapeseed protein is widely used in several food products, including plant-based meat alternatives, shakes, and bakery items. This high adoption in food and beverage industry is leading charge in boosting market growth.
The popularity and usage of rapeseed protein are also growing in the animal feed sector. This is due to its favorable amino acid profile and high protein content.
Leading players are continuously investing in research and development to enhance the properties of their products. Companies are also utilizing efficient and sustainable extraction methods to improve product quality and yield.
Key Takeaways from the Market Report:
The global market value is estimated to total USD 10.6 billion by 2034.
Based on product type, the rapeseed protein isolated segment is set to advance at a CAGR of 2.8% through 2034.
By nature, the conventional rapeseed segment dominated the industry with a share of 62% in 2023.
China is predicted to record a CAGR of 3.8% between 2024 and 2034.
Sales in the United States are projected to total USD 1.9 billion by 2034.
"Growing consumer interest in plant-based products is anticipated to play a key role in fueling sales of rapeseed protein globally during the forecast period." says Nandini Roy Choudhury, Client Partner at Future Market Insights
Who is Winning?
DSM, TEUTEXX, Europa Crown Ltd., NapiFeryn BioTech, and GP Feeds Ltd. are few key players listed in the report. Developing novel products with improved taste and functionalities is becoming a key strategy for industry players globally.
Several players are looking to utilize efficient and sustainable extraction methods to enhance product quality and yield. Similarly, strategies like acquisitions, collaborations, mergers, and distribution agreements are becoming popular among players.
Industry Updates:
In May 2023, Firmenich International SA, headquartered in Switzerland, announced a merger with DSM to establish DSM-Firmenich AG.
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Want More Insights?
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global rapeseed protein market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights based on product type (rapeseed protein isolates, rapeseed protein concentrates, and rapeseed protein hydrolysates), nature (conventional rapeseed and organic rapeseed), and application (food and beverages, animal feed, nutritional and dietary supplements, cosmetics and personal care products, and others) across several regions.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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