Market Size of Canada Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.77 % |
| Fastest Growing Market | Food and Beverages |
| Largest Market | Animal Feed |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Protein Market Analysis
The Canada protein market was valued at USD 625.7 million for the current year and is projected to register a CAGR of 4.77% over the next five years.
- The demand for protein-rich foods and supplements is fueling the growth of the protein market. Trends like the emergence of functional and fortified protein products, the popularity of plant-based protein, and the rising need for high-quality, sustainable protein sources have driven the protein market. Additionally, socioeconomic trends like growing urbanization, rising incomes, and aging populations are ultimately driving the increased protein consumption that is resulting from this population rise.
- Further, increasing the influence of social media to go green and go vegan is boosting the demand for plant-based protein alternatives among Canadian customers. The compatibility with vegetarian, vegan, and flexitarian lifestyles is now spotlighting plant-based protein sources, boosting the protein alternative market.
- Moreover, consumers and athletes are looking for natural and less processed nutritional solutions with proven benefits. Many protein manufacturing companies are launching new nutritional solutions to support sports nutrition manufacturers. For instance, in April 2023, Arla Foods Ingredients announced the launch of its new line of whey proteins branded as Nutrilac ProteinBoost, which is based on a patented microparticulation technology. The company claims that the products in the range have wide applications in the dairy and sports nutrition spaces, including yogurt, desserts, and dairy beverages.
