The rising popularity of functional foods, continuous rise in healthcare costs, and increasing awareness of nutraceutical products are turning the Canada Nutraceuticals Market into a billion-dollar market, with a revenue growth of around USD 7.95 Bn. It is estimated that the market will witness growth at a CAGR of 6.38% between 2022 to 2027.
Technavio has been monitoring the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Canada Nutraceuticals Market Analysis at a Glance
Emerging Trends of the Canada Nutraceuticals Market
When it comes to the trends of the market, rising health consciousness among consumers is trending in the market due to growing awareness of the need to consume healthy foods. Consumers are steadily moving from an unbalanced diet to a healthier diet thus propelling the demand for functional foods and beverages, which is expected to contribute to the growth of the dietary supplements market in Canada during the forecast period.
Top Drivers to Boost Demand for Canada Nutraceuticals Market: Navigating through the market space it has been observed that the popularity of functional foods is notably driving the market growth owing to the growing demand for nutrients and fortified food additives is expected to drive market growth in Canada.
Moreover, it has various health purposes, including improving joint health, weight loss, and bone and muscle strength, which is driving the further growth of the nutraceutical market.
Core Companies of the Canada Nutraceuticals Market
When it comes to the leading companies, names that are worth mentioning are 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., etc.
Technavio's report includes qualitative and quantitative analyses of core companies with a wider understanding of the business ecosystem as well as the strengths and weaknesses of key market players Request for a sample report for more insights.
Nutraceuticals Market In Canada: Key Highlights of the Report for 2023-2027
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