Canola Meal Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company's Canola Meal Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 18, 2024 /EINPresswire.com/ -- The global canola meal market has demonstrated robust growth in recent years, poised to continue its upward trajectory from $566.12 billion in 2023 to an estimated $600.11 billion in 2024, at a compound annual growth rate (CAGR) of 6.0%. It will grow to $766.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. This expansion is driven by the increasing adoption in sustainable animal production systems and the rising demand for high-quality protein sources in animal feeds. Canola Meal's environmentally friendly profile and its benefits in supporting animal agriculture further contribute to its market growth.

Rising Demand for Meat Products Drives Market Growth
The growing global demand for meat products significantly fuels the expansion of the canola meal market. Meat products remain a staple in diets worldwide due to their rich protein content, cultural preferences, and the expanding global population. Canola meal plays a crucial role in sustainable livestock and poultry production by providing essential nutrients necessary for efficient meat production. For instance, global meat production increased by 0.83% in 2023, underscoring the continued demand driving canola meal consumption.

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Key Players and Market Trends
Major companies in the canola meal market, such as Cargill Incorporated and Archer Daniels Midland Company, focus on innovation to enhance product offerings and maintain competitive advantage. Innovations like high-quality canola protein isolates, which provide complete plant-based protein solutions, illustrate the market's drive towards advanced product development. For example, Koninklijke DSM N.V.'s Vertis CanolaPRO offers a sustainable and allergen-free protein source derived from canola seeds, meeting growing consumer preferences for clean-label and environmentally friendly products.

In a strategic move, Bayer AG expanded its market presence through acquisitions in the agricultural sector, reinforcing its position in sustainable agricultural practices. Such initiatives bolster the market's growth prospects and reflect ongoing industry consolidation efforts.

Major Trends and Innovations
Innovations in canola processing technologies and the introduction of new canola meal products are prominent trends shaping the market landscape. These advancements cater to diverse applications in feed, fertilizer, food additives, and industrial chemicals, further diversifying the utility of canola derivatives across various industries.

Segments
1. Type: Poultry, Swine, Ruminants, Aquatic animals
2. Nature: Organic, Conventional
3. Application: Feed, Fertilizer, Food Additive, Industrial Chemical

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific emerged as the largest region in the canola meal market in 2023 and is anticipated to maintain its leadership position throughout the forecast period. Rapid urbanization, industrialization, and increasing disposable incomes drive the region's demand for meat products, thereby augmenting the consumption of canola meal.

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Canola Meal Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Canola Meal Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on canola meal market size, canola meal market drivers and trends, canola meal market major players, competitors' revenues, market positioning, and market growth across geographies. The canola meal market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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