Industries with the Highest Profit Margin in Canada in 2021

1. Soybean Farming in Canada

Profit Margin 2021: 50.5%

The Soybean Farming industry in Canada has declined over the five years to 2021 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 about 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 volatile prices and increased competition from US soybeans, are expected to result in the industry declining at an annualized... Learn More

2. Cigarette & Tobacco Manufacturing in Canada

Profit Margin 2021: 42.2%

The Cigarette and Tobacco Manufacturing industry in Canada has flourished over the five years to 2021 despite having to contend with tough regulatory pressures, taxation and declining cigarette consumption. The government has increased excise taxes several times over the past five years in an effort to curb smoking by forcing industry operators to increase prices to salvage profit, which has nonetheless decreased due to the COVID-19 (coronavirus) pandemic. This strategy has been successful in part, since cigarette consumption and the number of smokers in Canada have both declined during the period to the detriment of the industry. However, as a... Learn More

3. Wireless Telecommunications Carriers in Canada

Profit Margin 2021: 39.3%

The Wireless Telecommunications Carriers industry in Canada has performed well over the five years to 2021 as wireless coverage expanded and a greater number of Canadians adopted smartphones and tablets, thus boosting demand for high-margin mobile broadband services. The number of mobile telephone subscriptions is expected to rise an annualized 3.2% over the five years to 2021, and the number of fixed broadband connections is expected to rise an annualized 3.3% during the same period. Consequently, industry revenue is expected to increase an annualized 3.0% to $31.0 billion over the five years to 2021. Revenue is expected to grow 3.6%... Learn More

4. Payroll & Bookkeeping Services in Canada

Profit Margin 2021: 37.5%

The Payroll and Bookkeeping Services industry in Canada is expected to experience slight expansion over the five years to 2021. This industry includes companies that focus on the provision of payroll processing and bookkeeping transactions for other businesses. This enables time-scarce managers and businesses to focus on their core functions rather than minor administrative tasks such as payroll processing. The act of outsourcing business functions has become increasingly common over the past five years, which has increased demand for the industry's services. Additionally, favourable macroeconomic trends through much of the period have spurred demand and supported revenue growth. As a... Learn More

5. Satellite TV Providers in Canada

Profit Margin 2021: 36.8%

Over the five years to 2021, the Satellite TV Providers industry in Canada has struggled to maintain its subscribers as consumers have migrated toward substitute services, such as Internet Protocol TV (IPTV). Prior to the current period, the industry had continuously added subscribers before the proliferation of internet-based TV subscription packages. Since 2012, the industry has experienced a steady decline in subscribers, ultimately falling prey to external competition, such as Netflix Inc. and EPICIPTV.net. Consequently, industry revenue is expected to fall at an annualized rate of 4.4% to $1.9 billion over the five years to 2021, despite slight forecast growth... Learn More

6. Snack Food Production in Canada

Profit Margin 2021: 34.8%

The Snack Food Production industry in Canada produces goods such as potato and corn chips, pretzels, roasted and salted nuts, peanut butter, popcorn and other similar snacks. This industry benefited from increased demand over the five years to 2021 as discretionary income levels increased. In turn, renewed consumer spending has boosted sales of potato and tortilla chips, along with nuts and seeds. Buyers also tend to purchase more expensive and healthier products as they have more to spend on snack foods, keeping industry profit high. While many industry products are unhealthy and demand for such goods has slowed, many operators... Learn More

7. Dentists in Canada

Profit Margin 2021: 33.2%

The Dentists industry in Canada has exhibited growth over the five years to 2021 due to an uptick in the use of dental services and increased expenditure on dental services. Household spending for dental services has risen an annualized 7.1% to $430.00 between 2014 and 2017, up from $350.00 in 2014, according to the latest data available from the Canadian Dental Association. At the same time, dental care spending accounts for the second-largest share of private sector medical spending.

With per capita disposable income growing during most of the period, dental practices have had to secure fewer reimbursements from health insurance... Learn More

8. Accounting Services in Canada

Profit Margin 2021: 30.3%

Over most of the five years to 2021, an expanding Canadian economy has bolstered demand for the Accounting Services industry in Canada. As a result, industry revenue is expected to rise an annualized 1.7% to $14.4 billion over the five years to 2021, including an increase of 2.0% in 2021 alone. Industry revenue dropped only slightly in 2020 due to steady demand for the various services provided by industry operators. Client advisory services were crucial for many businesses seeking to navigate the financial hardships that arose due to disruptions related to the COVID-19 (coronavirus) pandemic. Operators in this industry provide... Learn More

9. Apartment Rental in Canada

Profit Margin 2021: 25.8%

The Apartment Rental industry in Canada is expected to stagnate over the five years to 2021. Industry operators collect rent income from properties they lease, where the rates they charge are largely determined by market forces. The supply of apartment rentals has grown at a slower rate than demand, which has elevated rental rates to the benefit of the industry. Favourable economic conditions and demographic trends during most of the period have driven this growth in demand. However, due to the economic challenges created by the outbreak of COVID-19 (coronavirus), industry revenue declined 17.5% in 2020. During the pandemic, unemployment... Learn More

10. Real Estate Investment Trusts in Canada

Profit Margin 2021: 25.8%

The Real Estate Investment Trusts industry in Canada has grown consistently over the five years to 2021, as solid operational efficiency and a low interest rate environment have laid the foundation for growth. The industry has benefited from a low level of revenue volatility that is backed by a steady stream of income from rentals amid stable economic growth. Long-term rent contracts in commercial segments and the rise of rental rates in the residential product segment have enabled the industry to maintain stable growth rates during most of the period, even amid economic slowdowns in 2016 and 2020. Overall, industry... Learn More