Latest News- Canola Meal Market: Animal feed is expected to lead the Application segment during 2024-2028

The Canola Meal Market is being driven by Increasing demand for canola meal in poultry industry

The Canola Meal Market is expected to grow at a CAGR of 3.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 487.71 million. The online distribution channel has revolutionized the global canola meal market, offering a convenient and accessible platform for customers to procure canola meal products. In today's digital age, e-commerce platforms have gained significant traction, and the canola meal industry is no exception. The convenience offered by online channels is a primary advantage, allowing customers to browse and purchase canola meal products from their preferred locations, be it their homes or barns, without the necessity of physical store visits. Additionally, online platforms provide customers with comprehensive product information, customer reviews, and comparison tools, empowering informed purchasing decisions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Animal feed
  • Industrial
• Type
  • Conventional
  • Organic
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for canola meal in poultry industry
• Rising focus on animal productivity and performance
• High demand for canola meal in cattle feed

However, the market also witnesses some limitations, which are as follows:

• High competition from other protein source
• Increase in raw material prices needed for canola meal
• Presence of inherent anti-nutritional factors

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Market Scope in Canola Meal Market Research Report

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Research Analysis Overview

In the realm of agricultural economics, the Canola Meal Market holds significance due to its role in securing food production and farm management. Farm software, feed processing, and livestock management are key areas where canola meal is utilized. Precision agriculture, animal health, and digital agriculture are essential aspects of modern farming, all of which benefit from canola meal and its derivatives. Feed additives, genetic improvement, and animal welfare are integral to livestock breeding and production of swine feed, poultry feed, cattle feed, and aquaculture feed. The global supply of canola meal is influenced by agricultural policy, research, automation, and safety concerns. Biosecurity, sustainability, feed efficiency, and optimization of egg production are essential for the profitability of the industry. Alternative protein sources, vegetarian feed, and pet food are emerging markets for canola meal. Biotechnology and animal nutrition play crucial roles in formulating feed and ensuring dairy and meat production. The industry forecast highlights continued growth, driven by demand for canola meal in various sectors, including feed manufacturing, industry automation, and research.

Market Research Overview

The global canola meal market is a significant segment of the larger packaged foods and meats market within the food products sector of the food, beverage, and tobacco industry. This market encompasses businesses engaged in food processing to ensure food safety and enhance shelf life. Technavio's market analysis calculates the market size based on the consolidated revenue of these vendors. Excluded from this market are equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Canola meal plays a crucial role in various industries, such as egg production, where it serves as a vital source of protein for animal feed, particularly for swine and poultry. In addition, it is used as a functional ingredient in the production of egg fertility supplements and preservatives for the food industry. The integration of advanced technologies like blockchain in the canola meal supply chain ensures transparency and traceability, further enhancing its value proposition.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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