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: 15.8%
The Cannabis Production industry in Canada has blossomed over the five years to 2019 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 68.3%... 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: 8.4%
The Corn Farming industry in Canada has recovered from previous struggles as prices have begun improving amid continuous heavy competition. Corn is used in a variety of products for fuel, consumption and production, and it contends with a high level of competition from potential substitutes and global corn farmers. The use of corn as fuel has stagnated as fossil fuels have become more accessible amid steep price declines. Moreover, exports have faltered to competition from the United States. However, corn has regained some attractiveness and demand from animal feed producers has grown. This has aided the price recovery, which has... Learn More
2019-2020 Revenue Growth: 7.8%
Operators in the Gold and Silver Ore Mining industry in Canada are primarily engaged in mining, beneficiating or otherwise preparing gold or silver ore, and industry revenue is a function of domestic gold and silver production alongside prices for these goods, which are informed by global supply and demand conditions. The industry has experienced growth over the five years to 2019, largely driven by increasing production of gold, as gold prices have fallen slightly. While silver prices have fallen, the value of silver is substantially lower than gold and it accounts for a minor share of revenue. Overall, industry revenue is... Learn More
2019-2020 Revenue Growth: 7.7%
The Billboard and Sign Manufacturing industry in Canada is expected to falter due to a sharp decline in exports in 2017, eviscerating growth prospects despite a promising domestic climate. Billboards have maintained their appeal as one of the few remaining ways to reach a broad consumer base in an increasingly fragmented media landscape. Consequently, advertisers have rapidly increased their spending on billboard space. Still, a 61.4% drop in exports fuelled an 18.5% contraction in revenue over 2017, bringing the industry into the red during the current period. Overall, over the five years to 2019, industry revenue is expected to decline... Learn More
2019-2020 Revenue Growth: 7.5%
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 connections, industry revenue is expected to post strong gains, increasing at an annualized rate of 12.8% to $10.2 billion over the five years to 2019. Revenue is forecast to rise 5.0% in 2019 alone as more Canadians, persuaded by increasingly easy-to-use and secure websites, shift their shopping online. The exceptional rate of growth in this industry is aided in part by the increasing internet traffic volume (e.g. number of fixed broadband and mobile connections), disposable income... Learn More
2019-2020 Revenue Growth: 5.6%
Over the five years to 2019, the role of physical therapy in promoting health and wellness has increased, benefiting the Physical Therapists industry in Canada. The industry exhibited strong growth during the period due to an aging population and rising per capita disposable income. According to Statistics Canada, the population of people aged 65 and older represents the fastest-growing age group in the country. As the population ages, the number of seniors with conditions requiring physiotherapy, such as hip and knee replacements and arthritis, will likely increase. Accordingly, the Conference Board of Canada anticipates the number of seniors that will... Learn More
2019-2020 Revenue Growth: 4.9%
The Employment and Recruiting Agencies industry in Canada is expected to thrive over the five years to 2019. Operators provide individual and corporate clients with a variety of services, which include permanent placement in addition to other staffing and human resources functions. The financial success of the industry is closely connected to the broader economy and the unemployment rate in Canada. Favourable economic conditions have improved demand for the industry's services. Declines in unemployment have increased demand for experienced recruiters that can secure talent to join workforces. Additionally, operators have leveraged technology to become increasingly valuable to clients, which has... Learn More
2019-2020 Revenue Growth: 4.8%
The Margarine and Cooking Oil Processing industry in Canada grew over the five years to 2019 as enterprises expanded operations in Canada and demand for the industry's products rose. The direction of the industry is largely influenced by the multinational corporations that also have a presence in the industry's supply chains and upstream markets. Exports have driven the growth of revenue alongside growing demand for margarine, vegetable oils, shortenings and other innovative industry products domestically. This has been the foundation of the industry's expansion alongside an aggregate increasing production capacity. Overall, the industry is expected to grow an annualized 4.1%... Learn More
2019-2020 Revenue Growth: 4.7%
The Dating Services industry in Canada has exhibited strong growth over the five years to 2019 as a growing number of Canadians use the internet to seek love. The proliferation of broadband internet connections and greater cultural legitimacy surrounding online dating have helped the industry outpace the overall economy and capture a rising share of the consumer dollar. Furthermore, companies that are able to take advantage of rising smartphone adoption in Canada have been highly successful, with many operators offering services exclusively through mobile apps. Consumers are increasingly accessing mobile dating applications through their smartphones as functionality and connection speeds... Learn More
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