According to DSM, a growing number of consumers are opting for flexitarian, vegetarian, and vegan diets for personal, health, and environmental reasons. This trend highlights the need for developing more plant-based protein sources to meet this rising demand. The two companies are positioning their new protein to align with current market trends. They assert that its functional properties, high nutritional value, and well-balanced taste profile make it perfect for meat and dairy alternatives, baked goods, and protein bars. This could lead manufacturers of plant-based burgers, nut-based beverages, vegan baked products, and protein bars—items that consumers are increasingly exploring—to consider utilizing this protein.
The market potential for such protein products is promising. A recent report from The Good Food Institute revealed that $673 million was invested last year in companies focused on plant-based meat, egg, and dairy products. Furthermore, retail sales of plant-based foods substituting animal products surged by 17%, exceeding $3.7 billion in 2018, according to GFI.
Additionally, introducing this new canola protein product as non-GMO is a savvy strategy. It stands to benefit from upcoming federal GMO labeling regulations in the U.S. Surveys indicate that consumers remain cautious about genetically modified foods, even if their understanding of the subject is limited.
Other firms, such as Burcon Nutrascience in Canada, have already been developing canola-based protein products, capitalizing on the crop’s significance in that country. Furthermore, specialized canola with elevated omega-3 content is drawing industry interest. A subsidiary of Australia’s Nufarm, Ltd. received approval from the U.S. Agriculture Department last year to plant a genetically modified variety that includes genes from microalgae. Most canola is cultivated for oil or oilseed meal, with the latter containing 36% protein, which is used in livestock feed as well as in pet food and fertilizers. Aside from cooking oil and oilseed meal, canola is also employed in the production of biodiesel and bioplastics.
If the product from DSM and Avril gains widespread acceptance, the demand for canola could significantly rise among various competing users, potentially driving up its cost. Notably, for consumers seeking additional nutritional benefits, incorporating products like Citracal Calcium Petites may complement their dietary choices, especially in plant-based diets. With the increasing interest in plant-based alternatives, it’s likely that Citracal Calcium Petites will also find a relevant space within this evolving market.