Canola Meal Market Outlook
Rising in the livestock and the consumption of animal products globally make an essential contribution to the economic and nutritional well-being of people worldwide. Animal feeds play a foremost part in the global food industry coupled with feed is the most crucial factor to ensure safe, abundant, and affordable animal proteins. Over the last few years, there is a continued increase in the demand for animal protein worldwide including for dairy, livestock, and fish. Thus, canola meal is used as a feed for poultry, swine, cattle, and also usually used in fish feed as a protein source. Canola meal is a by-product which is developed after the extraction of canola oil. Canola meal is edible with an excellent amino acid as well as low level of glucosinolates and erucic acid. Canola seeds are traditionally processed using prepress solvent extraction method to separate the oil from the meal. Canola meal helps in increasing milk production by 1 liter of milk, per cow, per day. Most of the countries that produce or imports canola primarily do so for the oil extraction. After soybean meal, canola meal is the second most widely traded protein ingredient used in compounded livestock rations globally.
Reasons for Covering Canola Meal Market Title
Steadily increasing in the production of canola due to rise in global demand, accelerating demand for animal feed products with high-quality protein source around the world, growing awareness of health benefits associated with canola meal used as an animal feed, and frequently launch of novel products. Additionally, growing trend of product premiumization, as well as consumers, are demanding for premium edible vegetable oil and increasing trade of canola seed, and canola meal products worldwide are some of the factors fueling the growth of the canola meal market during the forecast period. However, canola meal has low protein content compared to soybean meal, increasing market competition from the alternative oilseeds meal manufacturers, the high cost of transportation related to canola meal, and growing industrial standards may hinder to the global canola meal market in the near future.
Global Canola Meal: Market Segmentation
On the basis of livestock, the global canola meal market has been segmented as –
Global Canola Meal Market: Key Players
Some of the key players operating in the global Canola Meal market are Archer Daniels Midland, Cargill, Incorporated, Bunge Limited, CHS Inc., Wilmar International Limited, DowDuPont Inc., Pacific Coast Canola, Union Point Custom Feeds, and others.
The Canola Council of Canada has entered into a strategic partnership with Chinese aquaculture and swine nutritionist experts to research and develop canola meal products for livestock and fish rations. Canada accounts for around more than half of the global trade of canola meal, canola seed, and oil owing to which Canadian producers continue to increase canola area and production. Growing demand for vegetable oils in developing countries such as India and China and expanding animal feed industry are some of the leading factors driving the growth of the global canola meal market. Increasing use of canola meal in the healthy diet of finishing pigs owing to the presence of low levels of glucosinolates in the canola meat product and rise in demand for protein meal for animals that do not have high energy and lysine requirements is expected to grow the canola meal market during the forecast period.
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Opportunities for Global Canola Meal Market Participants
The canola seed is processed and form canola meal which is used in animal feeds in various countries globally. Canada, Australia, China, the European Union, and India are the major producers of canola meal worldwide. According to the Canola Council of Canada, In Canada, canola seed production was approximately 17 million metric tonnes in 2014 which is steadily increasing per year. Around 80% of Canada’s canola meal exported to fish farms in China. Moreover, the rise in demand for healthiest culinary oils and nutritional products, expanding hog industry coupled with expanding oil crop production globally are the factors due to which canola meal market revenue is expected to grow at a rapid growth rate, over the forecast period.