Health Stores in Canada - Industry Market Research Report

New Lifestyle: New Companies Will Likely Enter the Industry In Response to Rising Demand

Health Stores in Canada

The Health Stores industry in Canada has grown over the five years to 2023. However, mounting demand from online retailers and mass merchandisers has challenged participants to differentiate themselves from these time-saving retailers. Operators have capitalized with superior value-added services, including health consultations and supplement advising to bolster revenue. Industry revenue is forecast to rise an annualized 3.7% to $4.4 billion over the five years to 2023. The industry benefited from an increase in health consciousness due to the COVID-19 pandemic, despite government mandated shutdowns of nonessential businesses and strict social distancing protocols limiting store occupancy. Overall, revenue is forecast to climb 4.1% in 2023 alone as health consciousness remains high and industry products become more common.

The Health Stores industry in Canada retails products designed to affect an individual’s general condition, such as nutritional supplement stores, convalescent and prosthetic supply stores and specialized medical supply stores. The industry excludes drug stores, pharmacies and optical goods stores, in addition to perfume, cosmetics and beauty supply stores.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.