Canada is a world leader in the production of plant-based proteins. According to Agri-food Innovation Council’s March 2019 report, Canada recorded over $1.5 billion in in plant-based protein sales in 2016/17. Canada’s current production is predominantly beans, chickpeas, lentils and peas. Research and Markets estimates the global market for plant protein to reach USD$14.32 billion by 2023, a compound annual growth rate of approximately 8.1 per cent per year.
Photos sourced from Agri-food Innovation Council
Protein Industries Canada (PIC) was established in 2018 as an industry-led, not-for-profit organization to position Canada as a leading global source of sustainable, high-quality plant protein and plant-based co-products. PIC is tasked with investing over $150 million as part of the federal government of Canada’s Innovation Supercluster initiative. The intention is for PIC to advance economic growth through innovation in plant-based proteins and co-products for global export. According to the Agri-food Innovation Council, the industry-led consortium is expected to help generate an estimated $853 million in new commercial activity, add $15 billion to Canada’s GDP and create up to 50,000 new jobs. To date, the group has made investments up to $33 million, which has contributed to $67 million being invested in the sector.
Current Investments:
PIC is actively working with industry partners to create co-investment projects that have the potential to transform the agriculture and food production sector. Future investments will be focused within the following main areas:
Create - improvements to protein content, quality and functionality with an aim to improve processing efficiency and the development of novel food ingredients.
Grow – efforts on primary production and sustainability using technologies related to data and predictive analytics, artificial intelligence, automation and sensor technology to increase production efficiency.
Make – improve processing through enhancement of new technological development.
Sell – focus on development of new markets, could involve pre-competitive research, prototyping and testing, improved trade relationships and trade literacy.
If you have an innovative product / technology within this space and are seeking funding, refer to:
a. PIC’s program: https://www.proteinindustriescanada.ca/program
b. PIC’s project eligibility questionnaire: https://www.proteinindustriescanada.ca/uploads/program/PIC_Eligibility_Form.pdf
If you need assistance with the application process or would like an introduction, don’t hesitate to reach out to us at Whitehorn. We’re here to assist you.
