The Canada Functional Foods And Natural Health Products Market size is projected to reach USD 30.32 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.5% during the forecast period. Rising prevalence of chronic diseases such as arthritis, cardiovascular problems, and diabetes coupled with the advantages associated with plant-extracted drugs over synthetic drugs are the factors expected to propel the overall demand.
Additionally, introduction of innovative products and technological advancements in health and wellness industry are anticipated to boost the market growth. A majority of food manufacturing companies have started using prebiotics as the primary ingredient to provide better nourishment and reduce health problems caused by harmful bacteria. Increasing demand for high functional foods to boost immunity and digestion is expected to drive the segment over the forecast period.
Although the presence of stringent regulations pertaining to the use of prebiotics and other dietary supplements is expected to restrict the segment growth, increasing involvement of regulating bodies in healthcare sector is expected to stimulate the growth in the forthcoming years.
Dairy products had the highest penetration in 2018 in terms of value. Milk-based drinks, spreads, and yogurts are rich in compounds and have good delivery systems for functional foods. Milk and dairy products contain constituents such as bioactive peptides, proteins, conjugated linoleic acid, calcium, omega-3 fatty acids, and vitamin D. These constituents have proven to show remarkable results including anti-carcinogenic, antihypertensive, anti-inflammatory, immune-modulating, hypocholesterolemic, and antimicrobial properties. These constituents help lower cholesterol absorption, drastically reduce blood pressure, and also reduces obesity-related metabolic disorders which is anticipated to boost the product demand during the forecast period.
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Further key findings from the report suggest:
- Phytochemical and plant extracts segment is expected to lead with a 15% market share of natural health products by 2025, owing to rising prevalence of chronic diseases such as arthritis, cardiovascular problems, and diabetes as well as the advantages associated with plant-extracted drugs over synthetic drugs
- Tablets are the most commonly used type of natural health products owing to their cost effectiveness. Canada natural health tablets market is expected to expand at a CAGR of 7.5% over the forecast period. High availability of multivitamin products in the form of tablets on account of easy dosage patterns is expected to have a positive impact on the segment growth
- Manufacturers are highly fragmented and are looking for new channels to reach a wide range of customers. The Canada functional foods and natural health products market is led by small and medium enterprises. Some of the manufacturers are Absorb Science Inc.; Bio Lonreco Inc.; CanCap Pharmaceutical Ltd.; JP Vitale; Nutra Canada; Earth Notions Inc.; and others
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Grand View Research has segmented the Canada functional foods and natural health products market on the basis of product and form:
Canada Functional Foods Product Outlook (Revenue, USD Million, 2014 – 2025)
- Bakery & Confectionery
- Fish & Eggs
- Oils & Fats
Canada Natural Health Products Outlook (Revenue, USD Million, 2014 – 2025)
- Proteins & Amino Acids
- Phytochemical & Plant Extracts
- Fibers & Specialty Carbohydrates
- Omega-3 Fatty Acids
- Natural Vitamins
- Natural Minerals
Canada Natural Health Products Form Outlook (Revenue, USD Million, 2014 – 2025)
- Soft gels
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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