Market Trends of Canada Protein Industry
Increasing Consumer Health Consciousness
- Consumers these days are more conscious about their health. For instance, the majority of the Canadian population are members of fitness clubs. The growing emphasis on staying healthy and in shape and rising participation in sports, health clubs, sports clubs, and gyms. These are some of the key drivers contributing to the growth of the sports nutrition industry. This further drives the protein market in the country since proteins are essential for muscle growth and repairing body tissues after a heavy workout.
- Usually, whey protein is highly preferred by fitness enthusiasts in order to maintain their protein intake. Whey protein is absorbed much faster and is also a rich source of cysteine, an amino acid thought to prevent post-exercise muscle fatigue. Whey protein also has a much higher content of branched-chain amino acids that help reduce protein degradation during heavy exercise and boost muscle synthesis.
- For instance, according to the UN COMTRADE statistics, in 2022, the import value of whey in Canada accounted for USD 87.828 million, while the import value in 2021 accounted for USD 60.473 million. In 2022, the major exporters of Whey to Canada include countries such as the United States, New Zealand, Australia, Argentina, and Denmark. Hence, the import value indicates that the protein requirement is further expected to increase in the country during the forecast period.
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Protein Bars are the Fastest Growing Market Segment
- Consumers prefer buying protein bars for various purposes, such as weight management, improving muscle mass, and increasing energy. Additionally, fitness clubs' marketing initiatives promoting protein bars as a meal replacement alternative have dramatically increased these products' sales. The market is anticipated to experience an increase in demand during the projected period due to the rising popularity of protein bars and the rising number of fitness clubs in the country. Owing to their high nutrition levels, protein bars are gaining prominence among health-conscious consumers.
- Therefore, manufacturers are launching innovative products in this market segment. For instance, in January 2023, Kellogg Canada launched its extensive line-up of new product offerings, including RXBAR Vanilla Almond Protein Bar. The company claims that the product is minimally processed, features natural ingredients, and contains no added sugar. Further, it is claimed to provide 12 g of protein. Thus, all the above-mentioned factors drive the market positively in this country.
