Canola Meal Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Canola meal is a byproduct of canola oil extraction from canola seeds. It is a high-protein feed ingredient commonly used in animal diets, especially for livestock such as cattle, poultry, and swine. Canola meal is valued for its balanced amino acid profile, high protein content, and digestibility.

Sizing and Forecast
The canola meal market size has grown strongly in recent years. It will grow from $566.12 billion in 2023 to $600.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%.  The growth in the historic period can be attributed to adoption in sustainable animal production systems, extended demand for animal feeds with high-quality protein sources, sourced and environmentally friendly food products, increased awareness, benefits associated with canola meals, canola meal products to meet the evolving needs of the animal agriculture industry.

The canola meal market size is expected to see strong growth in the next few years. It will grow to $766.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.  The growth in the forecast period can be attributed to demand for canola meal, anti-nutritional factors, and high energy content, large-scale animal agriculture industries, growing awareness of the environmental benefits of canola meal, lower carbon footprint compared to alternative protein. Major trends in the forecast period include innovations in canola processing technology, expansion into emerging markets, expanding cultivation of canola crops, product innovation and diversification, introduction of new canola meals.

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Segmentation & Regional Insights
The canola meal market covered in this report is segmented –

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

Asia-Pacific was the largest region in the canola meal market in 2023. The regions covered in the canola meal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The demand for meat products is expected to drive the growth of the canola meal market going forward. Meat products refer to any food items derived from animal muscle tissue consumed as part of human diets. The demand for meat products is due to their rich source of high-quality protein, cultural and dietary preferences, and the increase in the global population. Canola meal is a vital feed ingredient that supports the efficient and sustainable production of high-quality meat products by providing essential nutrients to livestock and poultry. For instance, in December 2023, according to a report by the Food and Agriculture Organization of the United Nations (FAO), a US-based government organization, there was a 0.83% increase in global meat production from 362 million metric tons in 2022 to 365 million metric tons in 2023. Specifically, global bovine meat production increased from 75 million metric tons in 2022 to 75.9 million in 2023. Therefore, the demand for meat products drives growth in the canola meal market.

Key Industry Players
Major companies operating in the canola meal market are  Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Wilmar International Ltd., Bunge Global SA, Louis Dreyfus Company, Bayer AG, CHS Inc., Charoen Pokphand Foods PCL, Perdue Farms Inc., Koninklijke DSM N.V., Richardson International Limited, Parrish & Heimbecker Limited, MSM Milling, LaBudde Group Inc., Sunora Foods Inc., AGRIM PTE LTD, Aggarwal Impex Pvt. Ltd., Sunrise Foods Inc., East Coast Stockfeeds, Annachtra International Organisation LLP, Energrow Inc., Manishankar Oils Pvt. Ltd., Resaca Sun Feeds LLC, Parkar Enterprise

The canola meal market report table of contents includes:
1. Executive Summary

2. Canola Meal Market Characteristics
3. Canola Meal Market Trends And Strategies
4. Canola Meal Market – Macro Economic Scenario
5. Global Canola Meal Market Size and Growth

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32. Global Canola Meal Market Competitive Benchmarking

33. Global Canola Meal Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Canola Meal Market
35. Canola Meal Market Future Outlook and Potential Analysis
36. Appendix

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