The re-import of vitamin concentrates and intermixtures of vitamins to Canada is forecasted to decrease steadily from 2024 to 2028. In 2023, the value of these re-imports stood at a baseline from which declines were anticipated. Over the next five years, values are expected to fall year-on-year by a percentage reflecting an average compound annual growth rate (CAGR) that points towards a shrinking market. This declining trend suggests a possible shift in domestic market dynamics, consumer preferences, or increased competition from local production.
Future trends to watch for include:
- Potential policy changes affecting trade agreements or tariffs.
- Shifts towards organic or alternative supplements potentially reducing demand.
- Advancements in local production capabilities impacting import needs.
- Emerging health trends that could revive the market demand.
