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Regulation Slows Canada’s Vitamin Market; Better Prospects For Nutraceuticals And Functional Foods

February 26, 2010: 10:50 AM EST
Strict vitamin and supplements regulation in Canada has slowed growth and innovation, find Euromonitor International. Vitamin and supplement suppliers are required to obtain a license from Health Canada, a process that requires submitting a range of product information, including the type, source and potency of ingredients, as well as evidence supporting any health claims. These added launch costs have reduced variety and will continue to hamper the market; Euromonitor projects that the vitamins and dietary supplement market will fall over 1 per cent in constant value from 2009-2014. Some bright spots remain; vitamin D sales are rising, as are fish oil sales. Prospects look brighter for functional foods and nutraceuticals. In a separate analysis, The Freedonia Group expects the nutraceutical ingredients market in Canada to increase 5.2 per cent annually to reach $390 million (US) in 2013.
Colin Whittington, "Canada in the Spotlight: Tight regulations, consumer skepticism hamper sales of supplements and fortified/functional foods", Functional Ingredients, February 26, 2010, © Penton Media, Inc
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