Canada Functional Foods and Natural Health Products Market Insights Forecasts to 2033

• The Canada Functional Foods and Natural Health Products Market Size was valued at USD 6.1 Billion in 2023.
• The Market Size is Growing at a CAGR of 7.69% from 2023 to 2033
• The Canada Functional Foods and Natural Health Products Market Size is Expected to reach USD 12.8 Billion by 2033

The Canada Functional Foods and Natural Health Products Market Size is anticipated to Exceed USD 12.8 Billion by 2033, Growing at a CAGR of 7.69% from 2023 to 2033. The increasing health awareness, aging population, and increasing e-commerce platforms are driving the growth of the functional foods and natural health products market in the Canada.     

Market Overview

Functional foods and natural health products are nutraceuticals and naturally-occurring substances used to maintain or restore health. Several businesses make an effort to sell food products that are fortified with protein since they are a nutrient-dense source of nutrition and have several benefits. The growing consumer awareness about the healthy ways to use naturally obtained protein to reduce weight, prevent aging, and address other health issues is promoting market expansion. The increasing number of chronic diseased patients surges the need for nutritious food which is expected to drive the demand for fortified food, thereby offering market opportunities for functional foods and natural health products.   

Report Coverage

This research report categorizes the market for the Canada functional foods and natural health products market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada functional foods and natural health products market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada functional foods and natural health products market.

Driving Factors

The increasing health awareness and promotion of healthy eating, assessing the health risks and benefits of food are driving the market. By 2040, it is anticipated that there would be 10.7 million seniors, or nearly one-fourth of the total population. The emphasis on maintaining a nutrient-dense diet among older adults is driving the market demand. The surging e-commerce platforms lead to enhanced accessibility of functional foods and natural health products owing to convenience for exploring and purchasing diverse health products are further escalating the market growth.

Restraining Factors

The difficulty in disguising the bitterness, off-tastes, and disagreeable flavors of certain botanical extracts and herbs is hindering the Canada functional foods and natural health products market. Further, the high cost of these products owing to RandD and production costs is restraining the market.

Market Segmentation

The Canada Functional Foods and Natural Health Products Market share is classified into product, ingredients, and application.

• The dairy products segment dominated the market with the largest market share in 2023.

The Canada functional foods and natural health products market is segmented by product into bakery and cereals, dairy products, meat, fish, and eggs, soy products, fats and oils, and others. Among these, the dairy products segment dominated the market with the largest market share in 2023. Yogurt and kefir are examples of functional dairy products that have gained popularity because of their capacity to improve immune function and support digestive health. The increasing interest in probiotic drinks and demand for on-the-go snacks are significantly contributing to driving the market.  

• The dietary fibers segment accounted for the largest revenue share of the Canada functional foods and natural health products in 2023.

The Canada functional foods and natural health products market is segmented by ingredients into carotenoids, dietary fibers, fatty acids, minerals, prebiotics and probiotics, vitamins, and others. Among these, the dietary fibers segment accounted for the largest revenue share of the Canada functional foods and natural health products in 2023. Health authorities' regulatory demands require food goods to disclose their fiber content so that customers can make educated dietary decisions. The increasing investment in the pharmaceutical industry and awareness about the maintenance of a healthy diet are driving the market growth

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• The weight management segment dominated the Canada functional foods and natural health products market in 2023.       

Based on the application, the Canada functional foods and natural health products market is divided into sports nutrition, weight management, immunity, digestive health, clinical nutrition, cardio health, and others. Among these, the weight management segment dominated the Canada functional foods and natural health products market in 2023. Obesity rates have alarmingly increased in Canada in recent years. Canadians are looking for solutions that would help them regulate their caloric intake, increase their metabolism, or encourage feelings of fullness and satiety.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada functional foods and natural health products market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Nestlé SA
• Kellogg Company
• General Mills Inc.
• Mars, Incorporated
• Herbalife
• Mondelez International
• Hearthside Food Solutions LLC
• Bellring Brands, Inc
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2023, Vitux is expanding into the North American market with a new production facility serving the demand for its ConCordix Smart Chew technology. The new production facility in Windsor, Canada adds much-needed capacity to Vitux’s parent plant in Norway.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Functional Foods and Natural Health Products Market based on the below-mentioned segments:

Canada Functional Foods and Natural Health Products Market, By Product

• Bakery and Cereals
• Dairy Products
• Meat, Fish, and Eggs
• Soy Products
• Fats and Oils
• Others

Canada Functional Foods and Natural Health Products Market, By Ingredients

• Carotenoids
• Dietary Fibers
• Fatty Acids
• Minerals
• Prebiotics and Probiotics
• Vitamins
• Others

Canada Functional Foods and Natural Health Products Market, By Application

• Sports Nutrition
• Weight Management
• Immunity
• Digestive Health
• Clinical Nutrition
• Cardio Health
• Others