Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Fastest Growing Industries in Canada by Revenue Growth (%) in 2020
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View a list of the Top 25 fastest growing industries2019-2020 Revenue Growth: 30.2%
The E-Commerce and Online Auctions industry in Canada composes of retailers that primarily sell their products online. Accelerated by the rising number of internet and mobile connections, industry revenue is expected to post strong gains, increasing at an annualized rate of 23.3% to $19.6 billion over the five years to 2020. The exceptional rate of growth in this industry is aided in part by increasing internet traffic volume (e.g. number of fixed broadband and mobile connections), rising disposable income and reduced unemployment for the majority of the five-year period. The COVID-19 (coronavirus) pandemic has created a unique opportunity for the... Learn More
2019-2020 Revenue Growth: 28.1%
The Cannabis Production industry in Canada has blossomed over the five years to 2020 as a massive market was introduced into the industry, driving up revenue late during the period. Since Health Canada opened up medicinal cannabis production to more players in 2013, the industry has grown continuously as operators invest in production capabilities to produce quality products. However, the legalization of recreational cannabis in 2018 has been the primary driver of the industry boom during the period. As consumers shifted from illegal cannabis purchases to the licensed recreational market, the industry grew significantly and is expected to grow 25.7%... Learn More
2019-2020 Revenue Growth: 27.4%
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: 13.7%
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: 8.8%
The Primary Care Doctors industry in Canada, which encompasses general practitioners who provide a comprehensive first point of contact and continued care to patients, has exhibited moderate and largely steady growth over the five years to 2020. Demand for primary care services has grown organically due to demographic changes, such as the aging of the population. Due to the significant uptick in birth rates between 1946 and 1965, as well as medical advancements that have boosted life expectancy, the number of seniors has increased in recent years. With the incidence of degenerative medical conditions increasing with age, the older population... Learn More
2019-2020 Revenue Growth: 8.6%
The Electric Power Transmission industry in Canada is responsible for storing and distributing electricity from Canada's upstream generation facilities. Industry operators manage transmission and distribution networks that total more than 160,000 kilometres to serve residential, industrial and commercial customers. Industry performance is dependent on electricity prices within provinces, although the inelasticity of energy demand and the high degree of regulation insulates operators from any significant revenue declines. Industry performance is also closely tied to demand from major industrial, residential and commercial markets. While residential market demand is somewhat inelastic, industrial and commercial output and demand are much more variable, so... Learn More
2019-2020 Revenue Growth: 7.5%
The Soybean Farming industry in Canada has declined over the five years to 2020 as a result of the spillover from trade war between China and the United States. China had traditionally been the largest export market for industry products, consistently accounting for over 50.0% of industry exports. However, geopolitical tension between China and Canada, which developed toward the end of the five-year period, caused a dramatic decline in the trade of industry products between the two countries. This, combined with lower prices and increased competition from US soybeans, are expected to result in the industry declining at an annualized... Learn More
2019-2020 Revenue Growth: 7.3%
The Frozen Food Production industry in Canada is expected to experience solid growth over the five years to 2020, as operators have developed a variety of healthier offerings that have helped revamp the industry's image and have driven demand for goods. Historically, during times of rising income levels, consumers have diverted demand away from frozen goods in favour of fresh products, which are traditionally considered healthier. However, industry operators have helped ameliorate the effect of this trend by offering increasingly nutritious products. Moreover, the Canadian dollar's depreciation in recent years has helped boost export sales, with exports as a share... Learn More
2019-2020 Revenue Growth: 7.0%
Over the five years to 2020, the Pharmacies and Drug Stores industry in Canada has benefited from the fact that pharmaceuticals currently comprise the second-largest health expenditure category in Canada. Although increasing pharmaceutical prices have bolstered industry revenue over the five years to 2020, many provincial drug programs have restricted their prescription prices to cut healthcare costs to consumers, hurting industry operators in the process. For example, many territories have required generic drugs to be marked down by a percentage of the patent drug equivalent, limiting revenue growth and hindering more robust growth regarding industry profitability. British Columbia's reference-based pricing... Learn More
2019-2020 Revenue Growth: 6.4%
Operators in the Gold and Silver Ore Mining industry in Canada are primarily engaged in mining, beneficiating or otherwise preparing gold or silver ore. Industry revenue is a function of domestic gold and silver production alongside prices, which are informed by global supply and demand. The industry has experienced growth over the five years to 2020, largely driven by increasing gold production and prices. Though the world price of silver has also increased, decreased production has diminished it as an increasingly minor source of industry revenue. This has further increased the amount of industry revenue generated by gold production, with... Learn More
Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Biggest Industries by Revenue in Canada in 2020
VIEW ARTICLEBased on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Industries with Largest Number of Bussinesses in Canada in 2020
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