The import of vitamins in dosage forms to Canada reached a value of $111.64 million in 2023. Over the past two years, the market showed mixed trends, with a significant increase of 34.8% in 2021, followed by a decline of 7.59% in 2022, and a slight recovery of 1.59% in 2023. The average annual growth rate (CAGR) for the past five years has been 2.41%. Looking ahead, the forecast suggests a steady increase in imports, with an average annual growth rate of 1.21% over the next five years, expected to grow by 6.19% by 2028.
Future trends to watch for include the increasing health consciousness among consumers, leading to heightened demand for vitamins. Additionally, regulatory changes, economic conditions, and advancements in the pharmaceutical industry could significantly impact import trends.
