$6.2bn
$XXX.Xm
34,260
10,854
$X.Xbn
The Health Stores industry in Canada has grown over the five years to 2023. However, mounting competition 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. The industry benefited from an increase in health consciousness because of the COVID-19 pandemic and experienced revenue growth despite the poor economic conditions and temporary shutdowns. Industry revenue is expected to increase at a CAGR of 4.2% to $6.2 billion over the past five years, including an expected rise of 0.7% in 2023 alone.
Industry revenue has grown at a CAGR of 4.2 % over the past five years, to reach an estimated $6.2bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
GNC Holdings Inc. | 128.0 | N/A | N/A | |
Popeye's Supplements Canada | 57.8 | N/A | N/A | |
Nutrition House Canada Inc. | 12.4 | N/A | N/A |
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Health Stores in Canada
Industry revenue is measured across several distinct product and services lines, including Vitamin and mineral supplements, Cosmetic and beauty products and Sports nutrition products. Vitamin and mineral supplements is the largest segment of the Health Stores in Canada.
Vitamin and mineral supplements are the largest product segment
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 also includes online health stores.
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NAICS 446191 - Health Stores in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Rising health consciousness has benefitted health stores in Canada. Canadians have been more willing to buy vitamins, supplements and other products.
Learn about an industry's products and services, markets and trends in international trade.
Vitamins and supplements are key for health stores. Canadians with vitamin or mineral deficiencies will buy them at high numbers.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Health stores in Canada follow population patterns. The larger the consumer market, the easier it is for a retail store to establish operations.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Price competition is high for health stores. Most stores aren't in control of production, which means giving the best price is key to success.
Learn about the performance of the top companies in the industry.
There aren't any major health stores. The fragmented nature of the industry prevents even the biggest companies from securing a large market share.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Capital intensity is low for health stores. They rely on skilled employees and have increasingly hired skilled and knowledgeable employees to remain competitive.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has been pushed downward in recent years. Because of the high internal competition in the industry, price competition has increased which has pressured profit.
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Health Stores industry in Canada is $6.2bn in 2024.
There are 10,854 businesses in the Health Stores industry in Canada, which has grown at a CAGR of 7.4 % between 2018 and 2023.
The market size of the Health Stores industry in Canada has been growing at a CAGR of 4.2 % between 2018 and 2023.
Over the next five years, the Health Stores industry in Canada is expected to grow.
The biggest companies operating in the Health Stores market in Canada are GNC Holdings Inc., Popeye's Supplements Canada and Nutrition House Canada Inc.
Vitamin and mineral supplements and Cosmetic and beauty products are part of the Health Stores industry.
The company holding the most market share in Canada is GNC Holdings Inc..
The level of competition is high and increasing in the Health Stores industry in Canada.