Market Size of Canada Plant Protein Industry
| 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 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 | ||||||||||
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Canada Plant Protein Market Size Summary
The Canada plant protein market is experiencing significant growth, driven by a rising consumer preference for healthy and functional food products. This shift is largely due to the increasing prevalence of lifestyle diseases such as diabetes, obesity, and high blood pressure. Plant proteins, including soy, peas, potato, and wheat, are gaining popularity as alternatives to animal proteins across various industries. The demand for plant-based alternatives is particularly strong among vegan and vegetarian consumers, and there is a growing interest in clean-label, natural, and organic products. Manufacturers are responding by innovating food and beverage products with plant proteins to enhance nutritional quality and functionality. Additionally, the use of plant proteins in infant and baby food is on the rise due to their digestibility and mineral content, while their application in personal care products is expanding as consumers seek clean-label ingredients.
The market is characterized by a fragmented landscape with both regional and global players, such as Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group PLC, Roquette Frères, and CHS Inc., leading the charge in product innovation. The demand for plant-based proteins is further fueled by the increasing consumption of vegan food and beverages, as well as the growing need for dairy substitutes like oat and soy proteins. The market players are actively expanding their product portfolios through new product launches and strategic acquisitions to meet the rising demand. Notable developments include the introduction of novel pea protein ingredients and the establishment of state-of-the-art production facilities to enhance the quality and functionality of plant-based proteins. As the market continues to evolve, the demand for pea proteins, in particular, is expected to rise, driven by their application in flexitarian products and their nutritional benefits.
Canada Plant Protein Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Increasing Demand for Plant-Based Food and Beverages
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1.1.2 Increasing Application of Plant Proteins in Animal Feed
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1.2 Market Restraints
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1.2.1 Higher Cost of Production of Plant Proteins
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Protein Type
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2.1.1 Hemp Protein
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2.1.2 Oat Protein
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2.1.3 Pea Protein
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2.1.4 Potato Protein
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2.1.5 Rice Protein
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2.1.6 Soy Protein
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2.1.7 Wheat Protein
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2.2 End-User
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2.2.1 Animal Feed
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2.2.2 Personal Care and Cosmetics
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2.2.3 Food and Beverages
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2.2.3.1 Bakery
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2.2.3.2 Beverages
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2.2.3.3 Breakfast Cereals
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2.2.3.4 Condiments/Sauces
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2.2.3.5 Confectionery
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2.2.3.6 Dairy and Dairy Alternative Products
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2.2.3.7 RTE/RTC Food Products
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2.2.3.8 Snacks
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2.2.4 Supplements
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2.2.4.1 Baby Food and Infant Formula
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2.2.4.2 Elderly Nutrition and Medical Nutrition
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2.2.4.3 Sport/Performance Nutrition
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Canada Plant Protein Market Size 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.
