Previously, we looked at the investment projects Protein Industries Canada (PIC) was making, take a look here. This article will look at how the plant-based industry is growing in Canada for both consumers and producers along with other Canadian protein companies’ investments. It looks at how Canada is a leading exporter of plant-based protein and how consumers in Canada are starting to pick plant-based proteins instead of meat.

Producers

As of 2019, Canada was the fifth largest exporter of agricultural and agri-food products in the world.

Canada exports roughly $56 billion in agriculture and agri-food products each year. Canada is the leading producer and exporter of pulses (dry peas and lentils that can be used to create plant-based proteins). In the first 10 months of 2020, Canada’s exports of pulses reached $2B, an increase of 94.6 per cent compared to the same period in 2019. India is the largest importer of Canadian pulses, importing $687.6MM worth in 2020 followed by Turkey importing $313.3MM. The two charts below looks at the top five countries that exported pulses both by quantity and value from 2019, with Canada dominating the categories.

With an increase in demand for plant-based products, many Canadian companies who are in the plant-based industry are engaging in financing, acquisitions or funding. The Government of Canada has also invested $2.6MM to help grow Alberta’s plant-based protein sector and PIC was awarded $150 million as part of the federal government of Canada’s Innovation Supercluster initiative. The table below looks at which companies have recently or plan to engage in financing, acquisitions or funding.

Consumers

Data from Nielsen shows that the sales of plant-based foods in Canada grew by 16 per cent for the year ending in 2019, making the industry worth more than $500MM. Canada is not only is a top producer of plant-based proteins of pulses, Canada also leads the way with more consumers starting to choose plant-based products over meat products. Canadian youth are one of the biggest consumers of plant-based products, which can be partly attributed to their environmental consciousness. Around 70 per cent of young Canadians say plant-based lifestyles are here to stay and 74 per cent of Canadians perceiving meat reduction consumption as a way to reduce their carbon footprint. The provinces with the highest interest in plant-based diets are P.E.I., BC, NS and ON. The revised 2019 Canadian Food Guide highlighted the benefits of different protein sources such as nuts, beans, legumes and more plant-based options than in previous versions of the food guide which may also be why more Canadians are open to a plant-based lifestyle.

To appeal to a larger audience and to keep up with the changing times, many restaurants are offering plant-based proteins/ vegan options. Not just chain restaurants in Canada have picked up plant-based options, local restaurants have also been adding more plant-based options for consumers as well and we are starting to see a lot more local vegan restaurants pop-up around the country as well. You can see the top local Vegan restaurant’s for Calgary, AB here and top local vegan restaurants for Canada here.

Conclusion

Overall, the plant-based industry is growing in Canada both for producers and consumers. With the increase in restaurants and food retailers offering plant-based options, food manufacturers can take advantage of this trend that seems to be here to stay by diversifying offerings and appealing to a larger audience.