Canada Nutraceuticals Market by Product, Distribution, and Geography - Forecast and Analysis - 2023-2027

Published: Dec 2022

Pages: 128

SKU: IRTNTR74784

Snapshot

Nutraceuticals Market Analysis Report 2023-2027 :

The nutraceutical market size in Canada is estimated to grow at a CAGR of 6.38% between 2022 and 2027. The canada nutraceuticals market size is forecast to increase by USD 7.95 billion. The growth of the market depends on several factors, including the rising popularity of functional foods, continuous rise in healthcare costs, and increasing awareness of nutraceutical products.

This market research report extensively covers market segmentation by product (functional food, dietary supplements, and functional beverages) and distribution channel (pharmacies, online retail stores, speciality stores, and supermarkets/hypermarkets). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Nutraceuticals Market In Canada During the Forecast Period?

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Nutraceuticals Market In Canada: Key Drivers, Trends, Challenges, and Customer Landscape

The rising popularity of functional foods is notably driving the market growth, although factors such as the stringent regulatory framework may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Nutraceuticals Market In Canada Driver

The rising popularity of functional foods is notably driving the market growth. Functional foods provide specific medical or health benefits such as bone healing, cholesterol control, heart health and other vision benefits in addition to regular daily nutritional intake. Increasing demand for nutrients and fortified food additives is expected to drive market growth in Canada. Functional foods add nutritional additives such as omega-3 fatty acids, fiber and vitamins and minerals to their product range. The purpose of including the aforementioned additives in the food industry is to increase the nutritional value of food.

The growing demand for healthy foods and beverages for various health purposes, including improving joint health, weight loss, and improving bone and muscle strength, is driving the growth of the nutraceutical market in Canada. Functional foods promote optimal health by reducing the risk of non-communicable diseases, boosting metabolism, improving nutrient absorption, promoting digestion, and aiding weight loss. Therefore, with increasing demand for health-promoting foods, the Canadian nutraceutical market is expected to witness significant growth during the forecast period.

Significant Nutraceuticals Market In Canada Trends

Rising health consciousness among consumers is the key trend in the market. The growing awareness of the need to consume healthy foods and the increase in diseases worldwide have increased the health consciousness of consumers. Consumers are gradually moving from an unbalanced diet to a healthier diet. This increases the demand for functional foods and beverages that provide health benefits beyond basic nutrition. Due to work pressures and lifestyle changes, the number of overweight people in Canada is increasing. This has increased the incidence of diseases, including diabetes, in Canada.

Consumers understand the importance of a balanced diet and the regular use of nutritional supplements and healthy foods. Growing awareness about the benefits of dietary supplements along with high consumption of dietary supplements to improve overall health has led to widespread acceptance of nutritional products among individuals, which is expected to contribute to the growth of the dietary supplements market in Canada during the forecast period.

Major Nutraceuticals Market In Canada Challenge

A strict regulatory framework and complex guidelines for marketing dietary supplements present significant challenges to the Canada dietary supplement market. Strict guidelines have been designed to ensure that only safe and high-quality supplements are brought to market. This requires extensive evidence provided by supplement and health food companies to justify the health claims of their products. Regulatory guidelines vary from country to country. In Canada, NHPs and food are regulated by the Food and Drug Act (FDA) and related regulations. Dietary supplements sold in Canada must be licensed by Health Canada and have a unique eight-digit Natural Product Number (NPN). Therefore, due to strict regulations on the sale of dietary supplements, the Canadian nutritional supplements market may face challenges during the forecast period.

Key Nutraceuticals Market In Canada Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Nutraceuticals Market in Canada Customer Landscape

Who are the Major Nutraceuticals Market in Canada Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Natrol LLC - The company offers nutraceuticals such as Nutramigen, PurAmino, and PurAmino Jr as its key offerings. Under this segment, the company offers vitamins, minerals, hormones, and supplements for a wide category of health and wellness applications.

The canada nutraceuticals market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Nutraceuticals Market In Canada?

The market share growth of the functional food segment will be significant during the forecast period. Prebiotics, probiotics, breakfast cereals, oats, soy and other foods rich in fatty acids, fiber and carotenoids are examples of functional foods with positive health benefits. effects Functional foods improve overall health and reduce the risk of disease. To optimize health benefits, market vendors focus on adding nutrients to functional foods that are not usually lacking in foods. Therefore, the health food segment will dominate the nutrition market in Canada in 2022.

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The functional food segment was valued at 7.90 billion in 2017 and continued to grow until 2021. Functional foods are eaten more often to support good health. For additional health benefits, folic acid is added to bread and breakfast cereals, and omega-3 fatty acids from fish oil are added to baked beans or bread. Therefore, as consumers increasingly prefer healthy foods, the demand for the segment is expected to increase, which in turn will boost the growth of the focus market during the forecast period.

Segment Overview

The research report growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Functional food, Dietary supplements, and Functional beverages) and Distribution Channel (Pharmacies, Online retail stores, Specialty stores, and Supermarkets/hypermarkets).

Product Outlook (USD Billion, 2017 - 2027)
- Functional food
- Dietary supplements
- Functional beverages

Distribution Channel Outlook (USD Billion, 2017 - 2027)
- Pharmacies
- Online retail stores
- Specialty stores
- Supermarkets/hypermarkets

Nutraceuticals Market Scope In Canada
Report Coverage	Details
Page number	128
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6.38%
Market growth 2023-2027	USD 7.95 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	5.42
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Advanced Orthomolecular Research Inc., Amway Corp., Archer Daniels Midland Co., Arkopharma Laboratories, Bactolac Pharmaceutical Inc., Cargill Inc., Danone SA, DuPont de Nemours Inc., E.I.D. Parry India Ltd., General Mills Inc., Innophos Holdings Inc., Koninklijke DSM NV, Matsun Nutrition Inc., Mead Johnson and Co. LLC, Natrol LLC, Nestle SA, The Hain Celestial Group Inc., Valensa International, W. R. Grace and Co., and Herbalife Nutrition Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Nutraceuticals Market In Canada In Country Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the nutraceuticals market in Canada between 2023 and 2027
Precise estimation of the size of the nutraceuticals market size in Canada and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the industry across Canada
Thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of the nutraceuticals market Canada vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 10: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 11: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
- Exhibit 12: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
- Exhibit 13: Chart on Canada: Year-over-year growth 2022-2027 (%)
- Exhibit 14: Data Table on Canada: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Nutraceuticals market in Canada 2017 - 2021
- Exhibit 15: Historic Market Size – Data Table on Nutraceuticals market in Canada 2017 - 2021 ($ billion)

4.2 Product Segment Analysis 2017 - 2021
- Exhibit 16: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

4.3 Distribution channel Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments
- Exhibit 25: Chart on Product - Market share 2022-2027 (%)
- Exhibit 26: Data Table on Product - Market share 2022-2027 (%)

6.2 Comparison by Product
- Exhibit 27: Chart on Comparison by Product
- Exhibit 28: Data Table on Comparison by Product

6.3 Functional food - Market size and forecast 2022-2027
- Exhibit 29: Chart on Functional food - Market size and forecast 2022-2027 ($ billion)
- Exhibit 30: Data Table on Functional food - Market size and forecast 2022-2027 ($ billion)
- Exhibit 31: Chart on Functional food - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on Functional food - Year-over-year growth 2022-2027 (%)

6.4 Dietary supplements - Market size and forecast 2022-2027
- Exhibit 33: Chart on Dietary supplements - Market size and forecast 2022-2027 ($ billion)
- Exhibit 34: Data Table on Dietary supplements - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Chart on Dietary supplements - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Dietary supplements - Year-over-year growth 2022-2027 (%)

6.5 Functional beverages - Market size and forecast 2022-2027
- Exhibit 37: Chart on Functional beverages - Market size and forecast 2022-2027 ($ billion)
- Exhibit 38: Data Table on Functional beverages - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Chart on Functional beverages - Year-over-year growth 2022-2027 (%)
- Exhibit 40: Data Table on Functional beverages - Year-over-year growth 2022-2027 (%)

6.6 Market opportunity by Product
- Exhibit 41: Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

7.1 Market segments
- Exhibit 42: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 43: Data Table on Distribution Channel - Market share 2022-2027 (%)

7.2 Comparison by Distribution Channel
- Exhibit 44: Chart on Comparison by Distribution Channel
- Exhibit 45: Data Table on Comparison by Distribution Channel

7.3 Pharmacies - Market size and forecast 2022-2027
- Exhibit 46: Chart on Pharmacies - Market size and forecast 2022-2027 ($ billion)
- Exhibit 47: Data Table on Pharmacies - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Chart on Pharmacies - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Pharmacies - Year-over-year growth 2022-2027 (%)

7.4 Online retail stores - Market size and forecast 2022-2027
- Exhibit 50: Chart on Online retail stores - Market size and forecast 2022-2027 ($ billion)
- Exhibit 51: Data Table on Online retail stores - Market size and forecast 2022-2027 ($ billion)
- Exhibit 52: Chart on Online retail stores - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Online retail stores - Year-over-year growth 2022-2027 (%)

7.5 Specialty stores - Market size and forecast 2022-2027
- Exhibit 54: Chart on Specialty stores - Market size and forecast 2022-2027 ($ billion)
- Exhibit 55: Data Table on Specialty stores - Market size and forecast 2022-2027 ($ billion)
- Exhibit 56: Chart on Specialty stores - Year-over-year growth 2022-2027 (%)
- Exhibit 57: Data Table on Specialty stores - Year-over-year growth 2022-2027 (%)

7.6 Supermarkets/hypermarkets - Market size and forecast 2022-2027
- Exhibit 58: Chart on Supermarkets/hypermarkets - Market size and forecast 2022-2027 ($ billion)
- Exhibit 59: Data Table on Supermarkets/hypermarkets - Market size and forecast 2022-2027 ($ billion)
- Exhibit 60: Chart on Supermarkets/hypermarkets - Year-over-year growth 2022-2027 (%)
- Exhibit 61: Data Table on Supermarkets/hypermarkets - Year-over-year growth 2022-2027 (%)

7.7 Market opportunity by Distribution Channel
- Exhibit 62: Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges
- Exhibit 64: Impact of drivers and challenges in 2022 and 2027

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape
- Exhibit 65: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption
- Exhibit 66: Overview on factors of disruption

10.4 Industry risks
- Exhibit 67: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered
- Exhibit 68: Vendors covered

11.2 Market positioning of vendors
- Exhibit 69: Matrix on vendor position and classification

11.3 Advanced Orthomolecular Research Inc.
- Exhibit 70: Advanced Orthomolecular Research Inc. - Overview
- Exhibit 71: Advanced Orthomolecular Research Inc. - Product / Service
- Exhibit 72: Advanced Orthomolecular Research Inc. - Key offerings

11.4 Amway Corp.
- Exhibit 73: Amway Corp. - Overview
- Exhibit 74: Amway Corp. - Product / Service
- Exhibit 75: Amway Corp. - Key offerings

11.5 Archer Daniels Midland Co.
- Exhibit 76: Archer Daniels Midland Co. - Overview
- Exhibit 77: Archer Daniels Midland Co. - Business segments
- Exhibit 78: Archer Daniels Midland Co. - Key offerings
- Exhibit 79: Archer Daniels Midland Co. - Segment focus

11.6 Arkopharma Laboratories
- Exhibit 80: Arkopharma Laboratories - Overview
- Exhibit 81: Arkopharma Laboratories - Product / Service
- Exhibit 82: Arkopharma Laboratories - Key offerings

11.7 Bactolac Pharmaceutical Inc.
- Exhibit 83: Bactolac Pharmaceutical Inc. - Overview
- Exhibit 84: Bactolac Pharmaceutical Inc. - Product / Service
- Exhibit 85: Bactolac Pharmaceutical Inc. - Key offerings

11.8 Cargill Inc.
- Exhibit 86: Cargill Inc. - Overview
- Exhibit 87: Cargill Inc. - Product / Service
- Exhibit 88: Cargill Inc. - Key news
- Exhibit 89: Cargill Inc. - Key offerings

11.9 Danone SA
- Exhibit 90: Danone SA - Overview
- Exhibit 91: Danone SA - Business segments
- Exhibit 92: Danone SA - Key news
- Exhibit 93: Danone SA - Key offerings
- Exhibit 94: Danone SA - Segment focus

11.10 DuPont de Nemours Inc.
- Exhibit 95: DuPont de Nemours Inc. - Overview
- Exhibit 96: DuPont de Nemours Inc. - Business segments
- Exhibit 97: DuPont de Nemours Inc. - Key news
- Exhibit 98: DuPont de Nemours Inc. - Key offerings
- Exhibit 99: DuPont de Nemours Inc. - Segment focus

11.11 E.I.D. Parry India Ltd.
- Exhibit 100: E.I.D. Parry India Ltd. - Overview
- Exhibit 101: E.I.D. Parry India Ltd. - Business segments
- Exhibit 102: E.I.D. Parry India Ltd. - Key offerings
- Exhibit 103: E.I.D. Parry India Ltd. - Segment focus

11.12 General Mills Inc.
- Exhibit 104: General Mills Inc. - Overview
- Exhibit 105: General Mills Inc. - Business segments
- Exhibit 106: General Mills Inc. - Key news
- Exhibit 107: General Mills Inc. - Key offerings
- Exhibit 108: General Mills Inc. - Segment focus

11.13 Innophos Holdings Inc.
- Exhibit 109: Innophos Holdings Inc. - Overview
- Exhibit 110: Innophos Holdings Inc. - Product / Service
- Exhibit 111: Innophos Holdings Inc. - Key offerings

11.14 Koninklijke DSM NV
- Exhibit 112: Koninklijke DSM NV - Overview
- Exhibit 113: Koninklijke DSM NV - Business segments
- Exhibit 114: Koninklijke DSM NV - Key news
- Exhibit 115: Koninklijke DSM NV - Key offerings
- Exhibit 116: Koninklijke DSM NV - Segment focus

11.15 Mead Johnson and Co. LLC
- Exhibit 117: Mead Johnson and Co. LLC - Overview
- Exhibit 118: Mead Johnson and Co. LLC - Product / Service
- Exhibit 119: Mead Johnson and Co. LLC - Key offerings

11.16 Nestle SA
- Exhibit 120: Nestle SA - Overview
- Exhibit 121: Nestle SA - Business segments
- Exhibit 122: Nestle SA - Key news
- Exhibit 123: Nestle SA - Key offerings
- Exhibit 124: Nestle SA - Segment focus

11.17 W. R. Grace and Co.
- Exhibit 125: W. R. Grace and Co. - Overview
- Exhibit 126: W. R. Grace and Co. - Business segments
- Exhibit 127: W. R. Grace and Co. - Key offerings
- Exhibit 128: W. R. Grace and Co. - Segment focus

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist
- Exhibit 129: Inclusions checklist
- Exhibit 130: Exclusions checklist

12.3 Currency conversion rates for US$
- Exhibit 131: Currency conversion rates for US$

12.4 Research methodology
- Exhibit 132: Research methodology
- Exhibit 133: Validation techniques employed for market sizing
- Exhibit 134: Information sources

12.5 List of abbreviations
- Exhibit 135: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

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What are the revenue-generating key market segments?
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Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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