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 2022
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View a list of the Top 25 fastest growing industries2022-2023 Revenue Growth: 76.4%
The Concert and Event Promotion industry in Canada attracts consumers to live entertainment events. Operators in this industry both coordinate and market a variety of events, including music concerts, theatrical performances and sporting events. Many operators either own or partially own their venues, consolidating their efforts and diversifying revenue streams, while other companies focus solely on the promotion of the events. Over the five years to 2021, the industry is anticipated to contend with a rapidly evolving digital landscape, and thus, industry revenue is projected to rise 81.2% in 2021 alone as a result of the expected economic recovery from... Learn More
2022-2023 Revenue Growth: 61.0%
Over the five years to 2021, the Campgrounds and Recreational Vehicle (RV) Parks industry in Canada is expected to experience a major decline, brought upon by the COVID-19 (coronavirus) pandemic. Industry establishments primarily operate RV parks and campgrounds that accommodate campers and provide amenities for a fee. Therefore, industry operators largely depend on travel-related trends to drive revenue growth. These trends include RV sales, disposable income and demographic shifts. Between 2016 and 2019, consumer conditions improved, to the benefit of the industry. Rising levels of disposable income during the aforementioned period enabled many individuals to invest in nonessential purchases, such... Learn More
2022-2023 Revenue Growth: 46.2%
The Scheduled Air Transportation industry in Canada has performed well over much of the five years to 2021 as rising levels of disposable income enabled more consumers to purchase airline tickets, while a relatively weak Canadian dollar has encouraged inbound travel from foreign consumers visiting Canada. However, the COVID-19 (coronavirus) pandemic has resulted in many airlines suspending international service and governments imposing social distancing guidelines to prevent the spread of coronavirus, severely constraining industry revenue in 2020. Overall, industry revenue is estimated to decrease an annualized 6.4% to $16.1 billion over the five years to 2021. This includes a projected... Learn More
2022-2023 Revenue Growth: 45.4%
The Hotels and Motels industry in Canada has endured incredible volatility over the five years to 2021 due to the global spread of COVID-19 (coronavirus). For the majority of the period, the industry grew steadily alongside growth in international tourism and domestic per capita disposable income. However, the coronavirus pandemic resulted in a massive decline in international travel, in addition to a huge decline in domestic demand for hotels and motels. Ultimately, revenue is expected to decline 55.2% in 2020 alone, due to a 48.1% decline in total tourism expenditure that year and an 84.4% decline in inbound international travel.... Learn More
2022-2023 Revenue Growth: 40.8%
The Tour Operators industry in Canada has been volatile over the five years to 2021. With the domestic economy's expansions between 2016 and 2019, international trips taken by Canadians increased. In addition, greater international exposure for the Canadian tourism industry, coupled with overall global economic growth, motivated more foreigners to visit and book tours in Canada, leading to increased inbound international travel. However, in 2020, the COVID-19 (coronavirus) pandemic shocked the global tourism sector, with countries closing borders, government authorities keeping only essential businesses open and strict travel restrictions being put in place. As a result, many travellers cancelled their... Learn More
2022-2023 Revenue Growth: 40.3%
Revenue for the Canadian Aircraft, Engine and Parts Manufacturing industry is expected to decline over the five years to 2021 as a result of volatile economic conditions. Industry operators manufacture aircraft, aircraft engines and related components, structures and parts. In particular, the Canadian industry is a leader in manufacturing business aircraft, commercial planes with less than 150 seats, civil helicopters, regional and small engines and various aerospace components. The COVID-19 (coronavirus) pandemic has weighed heavily on the industry given its effect on air travel, and thus, downstream demand. Overall, industry revenue is expected to fall at an annualized rate of... Learn More
2022-2023 Revenue Growth: 33.6%
The Amusement Parks and Arcades industry in Canada has declined over the five years to 2021. This decline was directly a result of the spread of COVID-19 (coronavirus), as industry revenue grew between 2016 and 2019. In 2020, revenue fell 53.4% as quarantine mandates and the closure of nonessential businesses resulted in most industry establishments being closed for the vast majority of that year. Amusement and theme park companies operate mechanical rides, water rides, games, shows, themed exhibits, refreshment stands and other attractions for consumer entertainment. The amusement parks segment has held up the industry as the arcades segment has... Learn More
2022-2023 Revenue Growth: 22.4%
Operators in the Canadian Ski and Snowboard Resorts industry have experienced meagre growth over the five years to 2021 due to steep declines in 2020 caused by the COVID-19 (coronavirus) pandemic. Rising per capita disposable income during most of the period provided consumers with more discretionary income, enabling them to spend more on recreational activities such as skiing and snowboarding. Overall, industry revenue is expected to increase an annualized 0.6% to $1.2 billion over the five years to 2021. The ongoing pandemic has had an unprecedented effect on all tourism-related industries as travel restrictions enacted to prevent the spread of... Learn More
2022-2023 Revenue Growth: 20.1%
The performance of the Canadian Movie Theatres industry largely depends on the success or failure of major film releases. Although per capita disposable income directly influences households' ability to spend on discretionary services, such as movies, the marketing efforts and popularity of blockbuster films strongly determine revenue, as movie-going is a relatively low-cost entertainment option. Cineplex Inc. (Cineplex), the industry's dominant player, also drives industry performance, as it typically accounts for almost 60.0% of the domestic market. The COVID-19 (coronavirus) pandemic created significant disruptions for the industry as theatres temporarily closed and audiences stayed home, which resulted in a profound... Learn More
2022-2023 Revenue Growth: 18.8%
The Handbag, Luggage and Accessory Stores industry in Canada comprises operators that primarily retail luggage, handbags and a variety of accessory products for men and women. The industry has experienced growth over much of the five years to 2021, but this trend was halted by the COVID-19 (coronavirus) pandemic. Further, the expansion of mass merchandizers, such as Walmart Inc., has further heightened competition for low- and mid-priced products. However, the overall retail environment has been positive over much of the past five years, with increased disposable income levels and rising retail sales helping buoy the industry. Overall, IBISWorld estimates that... 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 2022
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 2022
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