Canada Functional Foods Market Size & Outlook, 2023-2030
Canada functional foods market, 2017-2030 (US$M)
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Canada functional foods market highlights
- The Canada functional foods market generated a revenue of USD 6,228.4 million in 2023 and is expected to reach USD 10,475.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, prebiotics & probiotics was the largest revenue generating ingredient in 2023.
- Vitamins is the most lucrative ingredient segment registering the fastest growth during the forecast period.
Functional foods market data book summary
| Market revenue in 2023 | USD 6,228.4 million |
| Market revenue in 2030 | USD 10,475.7 million |
| Growth rate | 7.7% (CAGR from 2023 to 2030) |
| Largest segment | Prebiotics & probiotics |
| Fastest growing segment | Vitamins |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins |
| Key market players worldwide | Coca-Cola Co, Arla Foods, Amway Malaysia Holdings, Herbalife Ltd, Cargill, General Mills Inc, Basf SE |
Other key industry trends
- In terms of revenue, Canada accounted for 1.9% of the global functional foods market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. functional foods market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 131,454.8 million by 2030.
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Functional Foods Market Scope
Functional Foods Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada functional foods market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to functional foods market will help companies and investors design strategic landscapes.
Prebiotics & probiotics was the largest segment with a revenue share of 33.79% in 2023. Horizon Databook has segmented the Canada functional foods market based on carotenoids, dietary fibers, fatty acids, minerals, prebiotics & probiotics, vitamins covering the revenue growth of each sub-segment from 2017 to 2030.
Canada is one of the global suppliers of functional foods and natural health products (FFNHP). The market is robust and growing at a faster pace than the overall agriculture and agro-food sector with more than 750 Canadian companies are specializing in this industry.
Canada produces a wide range of functional foods that are of high quality and nutrition owing to the country’s high investments in collaborative teamwork, R&D and abundant natural resources in the country.
The country is renowned for its initiatives such as the development of Saputo, a high protein Milk2Go sports drink and Biscuits Leclerc's Preventia biscuits that are enhanced with red wine and inulin from chicory. Other companies such as HapiFoods has also developed non-genetically modified organisms (GMO), gluten free, organic multi-grain breakfast cereals for specific functional food target markets.
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Target buyers of Canada functional foods market databook
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Our clientele includes a mix of functional foods market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada functional foods market , including forecasts for subscribers. This country databook contains high-level insights into Canada functional foods market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Canada functional foods market size, by ingredient, 2017-2030 (US$M)
Canada Functional Foods Market Outlook Share, 2023 & 2030 (US$M)
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