Canada Nutraceuticals Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.65 Billion |
| Market Size (2029) | USD 11.61 Billion |
| CAGR (2024 - 2029) | 6.05 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Canada Nutraceuticals Market Analysis
The Canada Nutraceuticals Market size is estimated at USD 8.65 billion in 2024, and is expected to reach USD 11.61 billion by 2029, growing at a CAGR of 6.05% during the forecast period (2024-2029).
The Covid-19 pandemic hit many industries but temporarily negatively affected the nutraceutical industry in Canada. People were taking different supplements during the pandemic to build their immunity to fight the virus. For instance, according to Statistics Canada, vitamin and supplement sales in Canada increased from CAD 940.61 in Q2 2020 to CAD 1,088.29 in Q2 2021. This surge in demand for different supplements led to an upsurge in demand for nutraceuticals in the Canadian market.
The rising demand for nutraceuticals with medical benefits is one of the major factors driving the nutraceuticals market growth. They contain antioxidants, probiotics, and polyunsaturated fatty acids, which help in managing health issues like obesity, cardiovascular disease, cancer, cholesterol, arthritis, and diabetes. The growing preference for personalized nutrition is one of the critical nutraceuticals market trends, which may further stimulate market growth.
The trend of personalized nutrition is growing, particularly among individuals with gut-related medical conditions, where generic treatment is not effective. The biggest issue faced by nutraceutical companies operating in Canada is complying with the stringent health regulations in Canada. Unlike many countries worldwide, Canada has very stringent regulations governing the sale of dietary supplements.
Canada Nutraceuticals Market Trends
This section covers the major market trends shaping the Canada Nutraceuticals Market according to our research experts:
Increasing Expenditure on Health and Wellness
The rising concern about healthy lifestyles has led the population in the country to cater to nutritional products. The increasing expenditure on health and wellness has led to an increase in market demand for nutraceuticals. The nutritional food and supplement market is exploding with growing consumer interest in foods containing bioactive compounds, which aid in preventing many diseases. Additionally, increasing concerns about preventive healthcare are driving the market growth. According to a recent report by the Canadian Institute for Health Information, the total amount spent on health care in Canada in 2022 is expected to reach CAD 331 billion. The increase in spending is a result of the pandemic in 2020, which has sparked a surge in spending. This growth is by the increased expenditure on health and wellness products. The population in the country is more interested in investing in nutraceuticals because of their preventive benefits for chronic diseases. Alongside, nutraceuticals also help add essential nutrition to the daily diet, which in turn helps in leading a healthy lifestyle.
Offline Retail Channels Dominate the Segment
The offline retail channels cater to most of the nutraceutical sales in the country. Pharmacies and drug stores cater to a large portion of nutraceutical sales, especially health and dietary supplements. Consumers majorly prefer this channel because of the wide availability of a variety of products, which helps them in choosing according to their needs and comparing the benefits. Additionally, due to the high functional attributes of nutraceuticals, their sales through specialty stores are higher in the country. According to Statistics Canada, as of 2021, 556 food supplement stores are present in the Ontario region of the country, which caters to the highest count in Canada. Moreover, consumers prefer supermarkets/hypermarkets for purchasing functional food and beverages, owing to the availability of a wide variety and affordable prices with good discounts. The personal touch associated with purchasing various nutraceuticals, especially supplements, through various offline retail channels has led to the growth of the nutraceuticals market in Canada.
Canada Nutraceuticals Industry Overview
The market is highly competitive, with the presence of many global players. The most active companies in the nutraceuticals market in Canada are General Mills Inc., The Kellogg Company, Nestle SA, HerbaLife International of America Inc., and PepsiCo Inc. These market players have actively expanded their facilities and entered into partnerships, along with new product launches. Companies in the nutraceuticals market are expanding their product portfolios to strengthen their consumer bases and increase their brand visibility in the market. Innovations or new launches occupy the major share of the market, followed by the expansion strategy. The major players are focusing on introducing new products to cater to the interests of consumers. Rising health awareness among consumers has resulted in companies including various natural health ingredients. Including plant extracts is one of the strategies adopted by the key manufacturers in the functional beverage and dietary supplement markets.
Canada Nutraceuticals Market Leaders
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HerbaLife International of America Inc.
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The Kellogg Company
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PepsiCo Inc.
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General Mills Inc.
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Nestlé S.A.
*Disclaimer: Major Players sorted in no particular order
Canada Nutraceuticals Market News
- In October 2022, with the launch of the VitaBeans product line, Nestlé and Natures Bounty entered the Canadian vitamins and supplements market. Besides being vegetarian, the beans also contain no gluten or gelatin and no artificial colors or flavors.
- In June 2022, Kellogg Company announced that it would split into three companies focusing on cereals, snacks, and plant-based foods. As reported by Kellogg's, the "Global Snacking Co" has plans to concentrate on snacking, cereal, and noodles, as well as frozen breakfasts in North America. A "North American Cereal Company" will focus on cereal in the United States, Canada, and the Caribbean, and a "Plant Company" will specialize in plant-based products, anchored by MorningStar Farms.
- In September 2021, Lactalis Canada introduced Astro PROTEIN & FIBRE Yogurt, a yogurt packed with protein and fiber. Astro PROTEIN & FIBER Yogourt was launched in four flavors: Pineapple with Oats, Plain with a Touch of Honey and Oats, Blueberry with a Touch of Honey and Oats, and Vanilla Flavor with Oats.
Canada Nutraceuticals Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Functional Food
- 5.1.1.1 Functional Cereal
- 5.1.1.2 Functional Bakery & Confectionary
- 5.1.1.3 Functional Dairy
- 5.1.1.4 Functional Snacks
- 5.1.1.5 Other Functional Foods
- 5.1.2 Functional Beverage
- 5.1.2.1 Energy Drink
- 5.1.2.2 Sports Drink
- 5.1.2.3 Fortified Juice
- 5.1.2.4 Dairy and Dairy Alternative Beverage
- 5.1.2.5 Other Functional Beverages
- 5.1.3 Dietary Supplement
- 5.1.3.1 Vitamin
- 5.1.3.2 Mineral
- 5.1.3.3 Botanical
- 5.1.3.4 Enzyme
- 5.1.3.5 Fatty Acid
- 5.1.3.6 Protein
- 5.1.3.7 Other Dietary Supplements
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5.2 Distribution Channel
- 5.2.1 Specialty Stores
- 5.2.2 Supermarkets/Hypermarkets
- 5.2.3 Convenience Stores
- 5.2.4 Drug Stores/Pharmacies
- 5.2.5 Online Retail Stores
- 5.2.6 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 PepsiCo Inc.
- 6.3.2 General Mills Inc.
- 6.3.3 Nestlé S.A.
- 6.3.4 Kellogg Company
- 6.3.5 Herbalife International of America Inc.
- 6.3.6 Pfizer Inc.
- 6.3.7 Red Bull GmbH
- 6.3.8 Danone S.A.
- 6.3.9 Lactalis Group
- 6.3.10 Alticor Inc. (Amway)
- 6.3.11 Natural Factors Nutritional Products Ltd.
- 6.3.12 Magnum Nutraceuticals
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Canada Nutraceuticals Industry Segmentation
Nutraceuticals are products that provide nutrition, along with other health benefits. It has many physiological benefits, protecting the human body against chronic diseases. Canada's Nutraceuticals Market is segmented by type and distribution channel. By type, the market is segmented as functional food, functional beverages, and dietary supplements. The functional food category is further sub-segmented into functional cereals, functional bakery & confectionary, functional dairy products, functional snacks, and other functional foods. Similarly, functional beverages are sub-segmented into energy drinks, sports drinks, fortified juices, dairy & dairy alternative beverages, and other functional beverages, and dietary supplements are sub-segmented into vitamins, minerals, botanicals, enzymes, fatty acids, proteins, and other dietary supplements. Further, based on distribution channels, the market is segmented as specialty stores, supermarkets/hypermarkets, convenience stores, drug stores/pharmacies, online retail stores, and other distribution channels. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Type | Functional Food | Functional Cereal |
| Functional Bakery & Confectionary | ||
| Functional Dairy | ||
| Functional Snacks | ||
| Other Functional Foods | ||
| Type | Functional Beverage | Energy Drink |
| Sports Drink | ||
| Fortified Juice | ||
| Dairy and Dairy Alternative Beverage | ||
| Other Functional Beverages | ||
| Type | Dietary Supplement | Vitamin |
| Mineral | ||
| Botanical | ||
| Enzyme | ||
| Fatty Acid | ||
| Protein | ||
| Other Dietary Supplements | ||
| Distribution Channel | Specialty Stores | |
| Supermarkets/Hypermarkets | ||
| Convenience Stores | ||
| Drug Stores/Pharmacies | ||
| Online Retail Stores | ||
| Other Distribution Channels |
Canada Nutraceuticals Market Research FAQs
How big is the Canada Nutraceuticals Market?
The Canada Nutraceuticals Market size is expected to reach USD 8.65 billion in 2024 and grow at a CAGR of 6.05% to reach USD 11.61 billion by 2029.
What is the current Canada Nutraceuticals Market size?
In 2024, the Canada Nutraceuticals Market size is expected to reach USD 8.65 billion.
Who are the key players in Canada Nutraceuticals Market?
HerbaLife International of America Inc., The Kellogg Company, PepsiCo Inc., General Mills Inc. and Nestlé S.A. are the major companies operating in the Canada Nutraceuticals Market.
What years does this Canada Nutraceuticals Market cover, and what was the market size in 2023?
In 2023, the Canada Nutraceuticals Market size was estimated at USD 8.16 billion. The report covers the Canada Nutraceuticals Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Nutraceuticals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada Nutraceuticals Industry Report
Statistics for the 2024 Canada Nutraceuticals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Nutraceuticals analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
