Fastest Growing Industries in Canada by Revenue Growth (%) in 2019

1. Cannabis Production in Canada

2018-2019 Revenue Growth: 118.0%

Over the five years to 2018, the Cannabis Production industry in Canada has transitioned from a single government-sponsored provider of medical cannabis products to a highly competitive industry comprising dozens of private companies. In late 2013, Canada enacted the Marihuana for Medical Purposes Regulations, which expanded access to medical marijuana by enabling Health Canada to issue licences for private companies to cultivate, produce and sell cannabis products to registered patients with medical prescriptions. This policy shift has resulted in surging demand for medical cannabis, with the number of clients registered at Health Canada’s licensed providers increasing from just 15,545 clients in December... Learn More

2. Telecommunications Networking Equipment Manufacturing in Canada

2018-2019 Revenue Growth: 16.5%

The Telecommunications Networking Equipment Manufacturing industry in Canada is a mere fragment of what it was in 2000, but the industry has expanded over the five years to 2019. This historical decay is primarily the result of competition from foreign companies that have more efficient cost structures and lower manufacturing costs alongside the technological displacement of many fixed telecom products. Nonetheless, starting from a low point in 2013, the industry has recovered to an extent. This recovery was founded on improving supply chains and a dependence on contract manufacturing services to more effectively spread risk while cutting costs. It is also... Learn More

3. E-Commerce & Online Auctions in Canada

2018-2019 Revenue Growth: 14.2%

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 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

4. Foreign Currency Exchange Services in Canada

2018-2019 Revenue Growth: 12.2%

The Foreign Currency Exchange Services industry in Canada is expected to flourish over the five years to 2019, as operators expand their service offerings and favourable economic trends boost demand. Pressure from external competition by banks offering foreign exchange services has held back the industry’s expansion significantly. However, more operators are offering services to financial institutions by participating in the supply chain of foreign exchange, supplying banks with banknotes in wholesale or providing the service directly as an outsourced agent. Alongside favourable economic trends and the proliferation of online services, operators have expanded the demand pool by extending the reach... Learn More

5. Coffee & Tea Production in Canada

2018-2019 Revenue Growth: 11.6%

Operators in the Coffee and Tea Production industry in Canada primarily roast and package imported coffee beans in addition to blend and package tea. Over the five years to 2019, industry revenue growth has been strong, despite a severe fluctuation in the world price of coffee, which rose 43.8% and declined 20.9% the following year, during the very beginning of the reporting period. Since then, the world price of coffee has remained relatively stable, allowing for strong revenue growth in the industry especially as consumers have valued coffee and tea products with high quality and consistency. As a result, the industry... Learn More

6. Computer Manufacturing in Canada

2018-2019 Revenue Growth: 11.6%

The Computer Manufacturing industry in Canada has been declining as fierce international competition continues to flood the domestic market with low-cost imports. This influx of imports is driven by foreign competitors, primarily from developing economies, which have lower labour and production costs. Competition, combined with product standardization, has exerted strong downward pressure on prices, lowering the industry’s revenue from its crucial consumer market segment. Manufacturers have combated this entrenched global supply chain by specializing into niche markets, which is expected to drive industry revenue up an annualized 10.2% to $841.8 million over the five years to 2018. This belies the historically... Learn More

7. Train, Subway & Transit Car Manufacturing in Canada

2018-2019 Revenue Growth: 11.5%

Over the five years to 2018, Canada's Train, Subway and Transit Car Manufacturing industry is expected to experience significant volatility, which has largely been driven by cyclical purchases of industry goods and sharp declines in commodity prices. Ultimately, the industry expanded during the five-year period, despite diminishing exports due to a regulatory landscape that instigated a litany of capital expenditures. As a result, industry revenue is anticipated to rise an annualized 10.1% over the five years to 2018 to $2.3 billion, with a 17.8% increase in 2018 alone.

Industry performance depends on the ability of manufacturers to earn production contracts. Domestic... Learn More

8. Cosmetic & Beauty Product Manufacturing in Canada

2018-2019 Revenue Growth: 10.8%

The Cosmetic and Beauty Product Manufacturing industry in Canada has experienced strong growth over the five years to 2019 by manufacturing widely accepted and necessary personal care products, such as shampoo and lotions. Revenue growth is determined by demand from wholesalers and retailers, which is ultimately driven by consumer spending, tastes and preferences. In recent years, rising levels of disposable income have encouraged consumers to increasingly purchase the industry's high-end luxury products. As a result, industry revenue is estimated to increase at an annualized rate of 9.5% to $3.8 billion over the five years to 2019, including projected growth of... Learn More

9. Men's & Boys' Apparel Manufacturing in Canada

2018-2019 Revenue Growth: 10.7%

The Men's and Boys' Apparel Manufacturing industry in Canada has been characterized by offshoring, import competition and a significant shift toward the production of high-end products over the five years to 2019. The industry, which manufactures men's and boys' apparel from purchased fabrics, has been challenged by high import penetration. However, operators that have shifted toward producing high-end, value-added designer and handcrafted fashion have managed to boost the industry. Consequently, over the five years to 2019, industry revenue is expected to rise an annualized 9.4% to $1.2 billion, including a 0.8% decline in 2019 alone.

In 2019, industry imports are expected... Learn More

10. Concrete Pipe & Block Manufacturing in Canada

2018-2019 Revenue Growth: 9.9%

The Concrete Pipe and Block Manufacturing industry in Canada is expected to grow significantly over the five years to 2018. Demand has slowed in recent years as the volatile growth in the nonresidential construction market offset the growth in government expenditure and the residential market. Outlined in the Government of Canada's Budget 2018, new construction projects are expected to be in effect, mostly taking place in Ontario, as it represents the largest share of population and industry establishments. Increased government expenditure has translated to increased spending on concrete-intensive projects, such as bridge building and highway construction. Overall, revenue is expected... Learn More