Health and personal care e-commerce in Canada has seen significant growth over the years, peaking particularly in 2020 with a dramatic increase of 288.75%. By 2023, e-commerce sales in this sector stood at 4,963.5 million CAD, reflecting a moderate year-on-year growth of 7.89%. This recent growth comes after a slight deceleration from the unprecedented increase in 2020. Over the last five years, the compound annual growth rate (CAGR) averaged 46.49%.
Looking ahead, the forecast growth from 2024 to 2028 shows a moderate but steady increase, with a predicted CAGR of 4.79%. By 2028, the sector is expected to reach 6,725.8 million CAD, representing a forecasted five-year growth rate of 26.35%.
Future trends to watch for:
• The impact of emerging technologies like AI and telemedicine on online health and personal care sales.
• Shifts in consumer behavior towards e-commerce post-pandemic.
• Regulatory changes and their effects on digital health commerce.
• Increasing competition and potential market consolidation.
