The
Canada dietary supplements market is anticipated to witness remarkable growth during
the forecast period. This can be ascribed to the
growing demand for functional food because it gives health benefits such as
bone healing, cholesterol control, better heart health, and proper nutrition
intake. Also, the increasing demand for fortified food additives along with
growing demand for functional foods and nutritional additives such as omega 3
fatty acids, fiber, vitamins, and minerals for increasing the nutritional value
in processed food items is expected to create a lucrative growth of Canada
dietary supplements market during the forecast period. According to Statistics Canada, since 2021, 556
food supplement stores have been opened in the Ontario region of the country,
which caters to the highest count in Canada.
Growing Aging
Population
The aging
population in Canada has had a significant impact on the growth of the dietary
supplements market. As people age, their nutritional needs change, and they may
require additional vitamins, minerals, and other nutrients to maintain their
health and prevent diseases. This has led to an increased demand for dietary
supplements among older adults in Canada. Moreover, older adults in Canada are
more likely to have chronic health conditions, such as heart disease, diabetes,
and osteoporosis. Many of these conditions can be managed or prevented with
proper nutrition and dietary supplementation. This has led to an increased
demand for supplements that can support heart health, bone health, and blood
sugar control. The Canadian population is aging rapidly, with the proportion of
seniors (aged 65 and over) projected to reach 23% out of the total population
by 2030. This demographic shift has created a large growing market for dietary
supplements targeted towards older adults. As a result, the vitamin and mineral
supplements segment, catering to the nutritional needs of older adults, for
curing the heart problem, diabetes holds the largest market share in the
Canadian dietary supplements market.
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Growing awareness
about health benefits
Health
consciousness has had a significant impact on the growth of the dietary
supplements market in Canada. Consumers are becoming more aware of the role
that nutrition plays in maintaining optimal health and preventing diseases.
This has led to an increased demand for dietary supplements that can support
overall health and well-being. With the rise of social media and the
availability of information there, Canadians are being increasingly informed
about health and nutrition. They are seeking ways to support their health
through diet and lifestyle changes, and many are turning to dietary supplements
to complement their efforts. Furthermore, the growing prevalence of chronic
diseases, such as heart disease, diabetes, and cancer, has made Canadians more
aware of the importance of preventive healthcare. Many consumers are looking
for ways to prevent disease and maintain their health, and they view dietary
supplements to achieve these goals. Consumers are also seeking supplements made
from natural ingredients such as from vitamins, minerals, herbs or plants, and amino
acids. The trend towards natural and organic products in Canada has led to an
increased demand for herbal supplements, which are perceived to be safer and
more effective than synthetic supplements made from chemical compound.
Easy delivery
of supplements
Convenience has
had a significant impact on the growth of the dietary supplements market in
Canada. Consumers are increasingly seeking products that are easy to get, use,
and integrate into their busy lifestyles. One of the main ways that convenience
has influenced the growth of the market is through the development of new
delivery formats. Companies are developing supplements in a range of formats,
such as gummies, powders, and chewable tablets, that are easy to take on-the-go
and integrate into daily routines. For example, gummy supplements have become
increasingly popular among consumers who find them more palatable and easier to
take than traditional capsules. Additionally, the availability of supplements
in retail stores and online has influenced the market growth. Consumers can now
purchase supplements from pharmacies, grocery stores, and online retailers.
This makes it easier for consumers to access the products they need without
having to go out of their way to find them. Furthermore, many supplements are
now being formulated to provide a combination of vitamins and minerals,
allowing consumers to take a single supplement instead of multiple pills. This
makes it more convenient for consumers to get the nutrients they need without
having to take many pills or supplements.
Increasing
disposable income
Increased
disposable income has had a significant impact on the growth of the dietary
supplements market in Canada. As consumers have more disposable income, they
are more willing to spend money on products that support their health and
well-being, including dietary supplements. With increased disposable income,
consumers can purchase higher-priced or premium supplements such as NUTRILITE.
This has led to the development of a wide range of specialized supplements,
such as sports nutrition supplements, weight management supplements, and
supplements for specific health conditions. Furthermore, increased disposable
income has allowed consumers to invest in preventive healthcare, which includes
the use of dietary supplements. In
addition, increased disposable income has allowed consumers to purchase dietary
supplements from a variety of sources, including health food stores, online
retailers, and specialized supplement stores. This has increased the
accessibility of supplements to a wider range of consumers and has helped to
drive growth in the market.
Growing demand
for preventive healthcare
Preventive
healthcare has had a significant impact on the growth of the dietary
supplements market in Canada. Preventive healthcare involves taking steps to avoid
disease before it occurs, and the use of dietary supplements helps in this
strategy. Many consumers view supplements to fill nutritional gaps in their
diets and support overall health and wellness. The use of dietary supplements
as a preventive healthcare strategy has become increasingly popular in recent
years, and this trend is expected to continue. One of the reasons for the
growth of the preventive healthcare segment is the increasing focus on healthy
aging. As the population ages, there is a growing awareness of the importance
of maintaining health and preventing disease. Additionally, the use of dietary
supplements as a preventive healthcare strategy has been driven by a growing
awareness of the importance of nutrition in maintaining health.
Recent
Developments
- Centrum Multigummies:
Launched in 2021, Centrum Multigummies are a new addition to the Centrum line
of multivitamins. These gummies are designed to provide a convenient and tasty
way for consumers to get their daily recommended intake of vitamins and
minerals.
- NutraChamps Ashwagandha
Capsules: NutraChamps Ashwagandha Capsules were launched in 2020 and are
designed to support stress relief, anxiety, and mood. Made from high-quality
ashwagandha root extract, these capsules are vegan and non-GMO.
- Vega Sport Premium Protein
Powder: Launched in 2019, Vega Sport Premium Protein Powder is a plant-based
protein powder designed to support muscle recovery and performance. This powder
is made from a blend of pea, pumpkin seed, sunflower seed, and alfalfa protein,
and is available in a variety of flavours.
- Progressive MultiVitamin for
Active Men and Women: Progressive MultiVitamin for Active Men and Women is a
line of multivitamins designed for individuals with an active lifestyle. These
multivitamins were launched in 2018 and are formulated with a blend of
vitamins, minerals, and antioxidants to support overall health and wellness.
Market
Segmentation
The Canada
dietary supplements market can be segmented by product type, form, distribution
channel, application, end user, and region. Based on product type, the market
can be segmented into vitamin, combination dietary
supplements, protein, herbal supplements, fish oil & omega fatty acid, and
others. Based on form, the market can be segmented into capsules, tablets,
powder, soft gels, and liquid. Based on distribution channel, the market can be
grouped into pharmacies and drug stores, online, supermarkets and hypermarkets,
and others. Based on application, the market can be grouped into immunity,
general health, energy & weight management, bone & joint health, and
others. Based on end user, the market can be grouped into adults, geriatric,
pregnant females, children, and infants.
Market Players
Pfizer Canada Inc, Bayer Inc., Vitabiotics Ltd, Herbalife
of Canada Ltd, Glanbia Nutritionals Canada Inc., Abbott Products Canada Inc.,
Amway Canada Corp., and GlaxoSmithKline Inc/Canada. are some of the leading players
operating in the Canada dietary supplements market.
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Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic
Data
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2018 – 2021
|
|
Estimated
Year
|
2023
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|
Forecast
Period
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2024 – 2028
|
|
Quantitative
Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
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By Product
Type
By Form
By Distribution
Channel
By
Application
By End User
By Region
|
|
Regional
Scope
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Ontario Quebec ; Alberta ; British Columbia ;
Saskatchewan and Manitoba ; and Rest of Canada
|
|
Key
Companies Profiled
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Pfizer Canada Inc, Bayer Inc., Vitabiotics Ltd, Herbalife of
Canada Ltd, Glanbia Nutritionals Canada Inc., Abbott Products Canada Inc.,
Amway Canada Corp., and GlaxoSmithKline Inc/Canada.
|
|
Customization
Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, the Canada dietary
supplements market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
Canada Dietary Supplements Market, By Product Type:
o Vitamin
o Combination Dietary Supplements
o Protein
o Herbal Supplements
o Fish Oil & Omega Fatty Acid
o Others
Canada Dietary Supplements Market, By Form:
o Capsules
o Tablets
o Powder
o Soft Gels
o Liquid
Canada Dietary Supplements Market, By Distribution Channel:
o Pharmacies and Drug Stores
o Online
o Supermarkets and Hypermarkets
o Others
Canada Dietary Supplements Market, By Application:
o Immunity
o General Health
o Energy & Weight Management
o Bone & Joint Health
o Others
Canada Dietary Supplements Market, By End User:
o Adults
o Geriatric
o Pregnant Females
o Children
o Infants
Canada Dietary Supplements Market, By Region:
o Ontario
o Quebec
o Alberta
o British Columbia
o Saskatchewan and Manitoba
o Rest of Canada
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present Canada dietary supplements market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Canada dietary supplements market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]