Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Fastest Declining Industries in Canada by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest declining industries2019-2020 Revenue Growth: -18.1%
Over the past decade, rapid technological advancements have changed the way humans interact, pushing the Wired Telecommunications Carriers industry in Canada to the sidelines of communication. External competition from the domestic Wireless Telecommunications Carriers industry (refer to IBISWorld report 51721CA) and Voice over Internet Protocol (VoIP) software have eaten away at sales from the industry's traditional sources of revenue, which are local and long-distance telephony services. Overall, industry revenue is expected to contract an annualized 10.9% to $4.3 billion over the five years to 2020. This includes revenue falling 15.0% in 2020 alone as the COVID-19 (coronavirus) pandemic accelerates the... Learn More
2019-2020 Revenue Growth: -8.4%
Over the five years to 2020, consumption-based growth, a significant portion of which is debt-financed, drove Canada's Loan Administration, Cheque Cashing and Other Services industry. IBISWorld estimates that aggregate household debt is expected to increase an annualized 3.1% during the five-year period. Canadian consumers' appetite for debt has boosted the industry in Canada by sustaining demand for consumer financing, mortgages and cash services for businesses. However, industry profit has trended downward as a result of increased external competition and regulations during most of the five-year period. Overall, industry revenue is projected to increase an annualized 0.8% to $1.3 billion over... Learn More
2019-2020 Revenue Growth: -7.1%
The Supermarkets and Grocery Stores industry in Canada has experienced strong growth over the five years to 2020, which can be attributed to an expected spike in revenue in 2020 amid the COVID-19 (coronavirus) pandemic. Between 2015 and 2019, while rising levels of consumer confidence and slight growth in per capita disposable income provided an optimal business environment, the proliferation of supercentres stifled industry revenue as it increased price-based competition and provided customers with a one-stop shopping experience. Many consumers sought cost savings at grocery stores, stocking up on promotional items or trading down to private label brands. In response... Learn More
2019-2020 Revenue Growth: -6.3%
The Soap and Cleaning Compound Manufacturing industry in Canada has contracted over the five years to 2021 despite several conflicting revenue trends, in light of increased import competition from foreign manufacturers and significant volatility regarding crude oil prices. Both import penetration and crude oil prices have forced many operators to reduce selling prices to remain competitive. However, industry operators have benefited from growth in the Canadian population, which has increased demand for industry products from households, in addition to the COVID-19 (coronavirus) pandemic, which increased demand for soap and cleaning compounds both domestically and abroad. Despite the pandemic's overall negative... Learn More
2019-2020 Revenue Growth: -4.3%
The Office Stationery Wholesaling industry in Canada has struggled to remain competitive as demand for traditional office products has fallen out of favour. Demand for business forms, direct mailing supplies and print advertising has been slow to improve over the five years to 2020 due to declining purchases of paper products among individuals, retailers and corporate clients. Office stationery wholesalers have also struggled to contend with rising competition from electronic mediums and office supply superstores that increasingly purchase stationery products directly from manufacturers. Moreover, the COVID-19 (coronavirus) pandemic has further hindered consumer confidence and forced nonessential businesses to temporarily close,... Learn More
2019-2020 Revenue Growth: -4.1%
The Life Insurance and Annuities industry in Canada has experienced a decline over the five years to 2020 amid the COVID-19 (coronavirus) pandemic. Industry operators accept liability for annuities and life insurance policies, disability income and accidental death and dismemberment insurance policies, while also investing the premiums received by clients into a variety of financial securities. The industry has mainly suffered from the negative economic effects caused by the coronavirus pandemic, such as lower interest rates and an increase in the morbidity rate. As a result, industry revenue is expected to decline an annualized 1.6% to $76.7 billion over the... Learn More
2019-2020 Revenue Growth: -3.6%
Operators in the Canned Fruit and Vegetable Processing industry in Canada manufacture vegetable-based sauces, soups, canned produce, juices and dehydrated fruits and vegetables. The industry has struggled in recent years, with health concerns regarding some of its products and rising income levels, prompting consumers to turn to fresher or premium alternative goods. Despite manufacturers' efforts to introduce healthier brand extensions and safer packaging, demand for industry products has waned, lowering industry revenue recently. However, a drastic downturn in industry revenue in 2015, caused largely by the decision of the Kraft Heinz Company to move its ketchup production operations to the... Learn More
2019-2020 Revenue Growth: -3.2%
The Seasoning, Sauce and Condiment Production industry in Canada has experienced growth over the five years to 2020, despite mixed demand from grocery stores and food service providers for industry products. Rising per capita disposable income has permitted consumers to trade up to premium and more expensive brands, while increasing health consciousness has curbed demand for most industry products high in sodium and calories. At the same time, the depreciation of the Canadian dollar has made industry goods more affordable in foreign markets, increasing exports and buoying revenue. Overall, IBISWorld anticipates industry revenue to grow an annualized 2.8% to $1.6... Learn More
2019-2020 Revenue Growth: -2.9%
The Book Stores industry in Canada has grown over the five years to 2019 despite high levels of external competition from online retailers and e-books, which offer alternative and more affordable channels through which consumers are able to purchase industry goods. Moreover, an increase in per capita disposable income has boosted total retail sales in recent years, permitting the industry to expand instead of contract over the past five years. Particularly threatening to industry revenue, however, has been the rise of online retailers, which often offer a wider variety of items at competitive prices. Industry revenue is estimated to rise... Learn More
2019-2020 Revenue Growth: -2.6%
Over the five years to 2020, the Car and Automobile Manufacturing industry in Canada has struggled to recover as many automakers have moved operations abroad. Dissuaded by high labour costs in Canada, many automakers have shifted investments toward Mexico and the United States. As a result, output has fallen from Canada's biggest car producers while remaining operations have increasingly focused on vehicle production that falls outside of the industry, such as sport utility vehicles (SUVs). Also, exports, which account for more than 85.0% of industry revenue in 2020, have decreased in recent years due to less production capacity. Import penetration... Learn More
Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Riskiest Industries in Canada in 2021
VIEW ARTICLEBased on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Least Risky Industries in Canada in 2021
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