The new report by Expert Market Research titled, ‘Canada Functional Foods and Natural Health Products Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Canada functional foods and natural health products market, assessing the market based on its product, form, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2018): USD 19.35 Billion
The growth in the Canada functional foods and natural health products market is rising as manufacturers are focusing on providing protein and vitamin-rich supplements in response to rising demand for healthy foods and changing consumer lifestyles. Over 45 percent of Canadians are estimated to be deficient in omega-3 fatty acids, putting them at risk of a heart attack. Furthermore, 43.2 percent of people were projected to be at high risk of heart disease, while only 1.5 percent were at low risk. A positive outlook for the medical and healthcare industry, as a result of increased use of natural health remedies for the treatment of cardiovascular disorders and poor nutrition, is expected to drive market growth.
Industry Definition and Major Segments
Micronutrients such as vitamins, minerals, fatty acids, fibres, carbohydrates, and other essential components are found in functional foods. Natural health foods are natural compounds containing carotenoids, canola-based protein, and can be used to restore and maintain health, such as vitamins, minerals, and herbs.
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Based on product, the market is divided into:
• Bakery & Confectionery
• Dairy, Fish & Eggs
• Canola
• Pulses
• Hemp
• Oats
• Barley
• Soy Products
• Oils & Fats
• Others
Based on form, the industry is segmented into:
• Capsules
• Tablets
• Soft Gels
• Others
On the basis of region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The surging geriatric population, increasing medical investment, changing demographics, food advancement, enhanced medical technology, and burgeoning health concerns are driving the Canadian functional foods and natural health products industry. Growing consumer involvement in a balanced diet and the benefits of wellness has resulted in a thriving food and beverage industry, which is expected to continue over the forecast timeframe. Functional foods provide exceptional health benefits due to their nutritional content, which includes omega-3 fatty acids, proteins, and fibres. The consumer attitude toward functional ingredients with health and wellness benefits is very positive.
Key Market Players
The major players in the market are General Mills [NYSE: GIS], GFR Pharma, Herballife [NYSE: HLF], Cargill, Amway, Bremner Foods Ltd, Eurofins Experchem Laboratories, Aroma Borealis, Omega Nutrition Canada, DPA Industries Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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