Market Trends of Canada Clinical Nutrition Industry
Malnutrition is Expected to Hold a Major Share in the Coming Years
Malnutrition is one of the biggest challenges that Canada faces in some territories. The presence of organizations such as the Canadian Malnutrition Task Force (CMTF) in the country significantly benefits the clinical nutrition market as these organizations help the general population understand the significance of nutrition in daily life.
The number of people with malnutrition is rising in the country, which is propelling the demand for clinical nutrition. For instance, as per the data from Statistics Canada published in February 2023, it was indicated that over 6.9 million people in around ten provinces of Canada lived in food-insecured households, which included over 1.8 million children. The Canadian government is providing funds to cope with the rising food insecurity, which results in malnutrition. For instance, in May 2023, the Canadian government announced funding of USD 84.6 million to fight against malnutrition in Canada and globally.
Canada's regulatory authorities are focusing on funding several clinics to develop personalized nutrition products. For instance, in January 2022, the National Institutes of Health (NIH) provided funding of USD 170 million. They announced that it would be utilized nationwide for the next five years in clinics and centers. The funding was majorly provided for a new study to predict individual responses to food and dietary routines. Therefore, with such funding for nutrition improvement across the country, the segment is expected to witness significant growth during the study period.
Pediatric Clinical Nutrition is Expected to Witness a Strong Growth in Coming Years
The pediatric nutrition segment of the market studied is expected to grow due to factors such as growing pre-term births and companies' rising focus on launching new products in the market.
The companies operating in Canada are implementing various growth strategies, including acquisitions, new product launches, and partnerships, to expand their product portfolio and geographical presence in the market. For instance, in February 2022, Nestle Health Science signed an acquisition of Orgain Company, a plant-based nutrition product company. With the help of this acquisition, Nestle expanded the reach of plant-based nutrition products. Hence, companies' initiatives to launch products in the Canadian market are expected to grow significantly during the forecast period.
