Why Now is a Great Time to get into Canada
Published on January 1, 2018
Author: Kyley Paul
The Market is Growing Fast!
Rising aging population boosted demand for products + sports nutrition products have surged in popularity among younger demographics. Industry value added is forecast to grow at an annualized rate of 4.0% over the 10-year period. An estimated 14 million Canadians —take vitamins, contributing to sales of about $370 million a year. Canada is one of the global leaders in vitamin and supplement usage.
The Regulatory Framework is Changing
Health Canada introduced the ‘Self-Care Proposal’ in September 2016- which drastically changes the current natural product regulations. In addition to changes in the application process and review there will also be a COST RECOVERY component which is not currently in place.
If your company is thinking about getting into Canada and have it on your expansion growth radar, NOW is a great time to get your licenses while there are still predictable regulations and FREE submission to Health Canada.
Find Out More
If you are interested in developing, producing or selling a Natural Health Product, NaturalSci Regulatory Consulting can help. The best place to start is to set up a consultation with one of our specialists. Click the link below to get in touch with us.
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