Canada Dietary Supplements Market Overview, 2027

Canada Dietary Supplements Market Overview, 2027

Bonafide Research 27-07-2022 65 Pages Figures : 10 Tables : 29
Region : North America Country : Canada Category : Food & Beverages Food

The modern lifestyle that is followed today by the millennial generation devoids them of a healthy diet. It lacks vitamin C and D, folic acid, calcium, selenium, iodine, minerals, and other nutrients. Supplements are a substitute for these nutrients, which are not consumed in enough quantities to be needed for overall growth and development of the body. These may be in the form of pills, tablets, liquids, or capsules. However, they need to be monitored as everyone’s needs differ and different nutrients are required. Consuming higher than recommended doses may be harmful and result in negative effects. To regulate this, there is a need for a mandate to safeguard consumers' health by stating a warning for excess consumption. A recommendation should be followed by a professional to choose the correct form and dosage of these dietary supplements. Side effects from dietary supplements happen most often if people take high doses or use them instead of medicines prescribed by their health care provider. Also, some supplements can cause problems if taken along with certain medicines.

According to the report title "Canada Dietary Supplements Market Overview, 2027", published by Bonafide Research, the demand for dietary supplements is increasing by the millennia. The US leads the dietary supplements market globally as the incidences of obesity and chronic diseases are on the rise. Vitamins and botanicals form the major market share by type of supplement taken by consumers more than other types. However, since the food consumed by consumers is low in fibre, omega fatty acids, and carotenoids, other types of supplements are expected to remain in high demand by consumers. Capsules and gels and gummies are gaining traction in the market as they look appetising and are easier to consume. Gummies containing a wide range of vitamins and minerals are also appealing to children. Since the rise of chronic diseases among the rising geriatric population of the world, they are projected to be in high demand from them over the forecast period. However, pregnant women are expected to have the lowest demand. Consumers rely on buying their medicines and related products from trusted and nearby pharmacy stores rather than supermarkets or hypermarkets.

Botanicals hold almost one-fourth of the market share and are expected to grow rapidly over the forecast period. Innovation with amino acids to achieve specific functions such as weight loss and muscle repair is furthering their demands. Rising preventive healthcare and increased awareness of consumers' health towards health create demand for botanicals. Women facing problems like insomnia and hot flashes are able to relieve their symptoms through these supplements. Botanicals like fish oil, detoxes, and probiotic drinks are on the rise. High-income levels and developing infrastructure for sports and fitness are further expected to boost market demand. During the pandemic, the government advised using certain herbal supplements to maintain health and reduce the chances of getting affected by more of the virus.

The dietary supplements are most widely sold over the counter in pharmacy stores as they are easy to reach in every area of the city. However, due to the increase in supermarkets and hypermarkets establishments and consumers' inclined towards buying their fix of groceries from these outlets, their popularity has increased. Since supermarkets give attractive discounts, consumers do not need to travel to a different store to specifically purchase the same. Furthermore, consumers can easily read the labels and compare them to other products on the shelf. Research and development are the key success factors for dietary supplements, which require heavy investments. Furthermore, strict regulations regarding health benefit claims and product labelling are expected to pose challenges for dietary supplements during the forecast period.

Tablets are the most common and easiest form of supplement for consumers and lead the market by form type. It is low in cost, has a long shelf life, and is a convenient form for multivitamins and is expected to positively lead the market growth in the future. On the other hand, the encapsulation of finished products for controlled release is expected to bolster future growth from the capsule segment. However, the high price of capsules is expected to be a restraint for this type of supplement.
Adults demand more of these supplements as, with age, their bodies require some essential nutrients for proper functioning. Also, as with age, they have developed some or other type of chronic disease, so they do not get sufficient nutrition from the food they are required to consume. Additionally, hectic working schedules and fast-changing lifestyles lead to increased use of dietary supplements by adults. The rise in the number of chronic diseases like obesity, cardiovascular disease, and diabetes are the other factors driving the future markets.

Covid impact
During the COVID-19 pandemic, all industries are being impacted, and the dietary supplements industry is also one of them. Initially, when the coronavirus spread, it was difficult for the companies to supply their products to the market for consumption purposes, and the production of dietary products also faced disruption in the supply chain completely. Consumers were only focusing on highly essential products such as food and beverages and other essential products. After some time, the companies started reopening to fulfil the demand for products in the market. It has been found that dietary supplements are helpful in boosting the immune system. The demand for dietary supplements has greatly increased due to this new trend.

Considered in this report
Geography: Canada
Historic Year: 2016
Base year: 2021
Estimated year: 2022
Forecast year: 2027

Aspects covered in this report
Canada Dietary Supplements Market with its value and forecast along with its segments
Region & country wise Dietary Supplements market analysis
Application-wise Dietary Supplements distribution
Various drivers and challenges
On-going trends and developments
Top profiled companies
Strategic recommendation

Regions covered in the report
North America
Latin America
Middle-East & Africa

Based on type of dietary supplements in the report:
Botanical/herb supplements
Amino acid & proteins

Based on formulation type of dietary supplements in the report:

Based on end user of dietary supplements in the report:
Pregnant women

Based on the application type in the report:
Energy & weight management
Bone & joint health
Immunity & digestive health
General Health
Cardiac health

Based on the distribution channel type in the report:
Pharmacies & Drug stores
Supermarkets & Hypermarkets
Online retails

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to pharmaceutical industry, food & beverage industry, cosmetic industry, nutrition industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Keywords: Canada Dietary Supplements market size, Vitamins, Minerals, multivitamins, herbal, botanical supplements, amino acid, probiotics, Cardiovascular Disease, Pain management, Women’s Health, future of pharmaceutical industry, Nutrition industry, food & beverage, protein bars, protein supplements, energy bars, market demand Dietary Supplements, milk protein, whey Protein, North America, South America, Europe, Middle East, Africa, Asia, Asia-Pacific, Canada, Japan, India, Australia, USA, Canada, Mexico, UK, Italy, France, Germany, Russia, Spain, Netherland, Spain, Brazil, Argentina, Columbia, UAE, Saudi Arabia, South Africa, South Korea.

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