Fastest Growing Industries in Canada by Revenue Growth (%) in 2025

1. Auto Parts Wholesaling in Canada

2025-2026 Revenue Growth: 11.6%

Auto parts wholesalers in Canada has contracted over the five years to 2023, stemming from COVID-19, which substantially impacted demand from downstream markets in 2020 and 2021. These wholesalers struggled with cementing its place within the automotive supply chain with auto parts manufacturers expansively solidifying their ties with automakers directly. In 2020, a steep reduction in the production and sales of new vehicles, as well as less driving by consumers, reduced demand for auto parts. Overall, auto parts wholesalers are expected to drop at a CAGR of 1.2% to $18.9 billion through the end of 2023, despite higher downstream demand... Learn More

2. Market Research in Canada

2025-2026 Revenue Growth: 10.5%

Market research operators in Canada endured wild swings in revenue growth due to a sharp incline in economic volatility and dampened demand for market research services. Between 2018 and 2019, operators endured a decline amid mixed economic conditions and a changing media landscape. In 2020, COVID-19 presented an additional disruption to demand for operators' services, as uncertainty clouded the outlook. Although the economy reopened, a spike in inflationary pressures severely harmed revenue in 2021 and 2023, as corporate clients endured volatility across their balance sheets, which dampened demand for operators' services. This economic volatility also dampened profit for operators, with... Learn More

3. Gambling in Canada

2025-2026 Revenue Growth: 10.1%

Revenue for the Canadian Gambling industry has declined over the five years to 2023 due to overall reduced demand for gambling. Canada is not the only country experiencing a slowdown in gambling, as spending on games of chance has declined across the Western world over the past five years. A rising unemployment rate and growing prices for many essential products have left less money in consumers' pockets. Furthermore, rising competition from gambling establishments in the United States and online gambling businesses have also contributed to falling revenue. Further, the industry will likely suffer from a rising loonie, which makes it... Learn More

4. Navigational Instrument Manufacturing in Canada

2025-2026 Revenue Growth: 10.1%

Navigational instrument manufacturers have exhibited hiccups over the period stemming from the pandemic and import penetration. Even so, having a diverse product line and selling to a variety of markets has shielded companies from major declines. Overall, revenue is expected to fall at a CAGR of 1.7% to $2.1 billion over the next five years, including a 2.7% rise in 2023 alone, with profit reaching 12.3% in 2023.

Manufacturers have continued to emphasize the importance of research and development (R&D) to combat competition, bolster profit and sustain revenue. The average salary for employees exceeds $100,000 as companies seek highly skilled engineers... Learn More

5. Glasses & Contact Lens Manufacturing in Canada

2025-2026 Revenue Growth: 8.3%

The Glasses and Contact Lens Manufacturing industry in Canada produces eyeglass lenses, frames, and protective eyewear. Several of the industry's product segments are essential to the visually impaired, somewhat insulating the industry from economic downturns. While rising per capita disposable income has enabled consumers to increase expenditure on glasses and contacts, competitively priced imports satisfy a significant portion of consumer demand for industry products. Although COVID-19 hindered the overall economy, IBISWorld projects revenue to continue expanding as industry products are considered an essential health expenditure for many consumers. As a result, IBISWorld projects industry revenue will increase at an annualized... Learn More

6. Eyeglasses & Contact Lens Stores in Canada

2025-2026 Revenue Growth: 6.8%

The Eyeglasses and Contact Lens Stores industry in Canada sells eyeglasses, contact lenses, sunglasses, safety eyewear and optical accessories. Over the five years to 2023, the industry has benefited from favourable population demographics. The burgeoning elderly population has boosted the number of optometrist visits to address age-related eyesight issues. Meanwhile, changing fashion trends have hastened many consumers' replacement cycles and have caused a shift toward high margin, designer eyewear. Further, the industry has been relatively insulated from external competitors, such as online retailers that lack brick-and-mortar establishments and deliver directly to the customers via mail. Dispensing prescription glasses is highly... Learn More

7. Nursery & Garden Stores in Canada

2025-2026 Revenue Growth: 6.8%

The Nursery and Garden Stores industry in Canada has seen its fortunes rise during the COVID-19 pandemic, even as competitive challenges have hammered small retailers. The domestic industry relies on the discretionary purchases of garden tools and supplies to make sales. Throughout the pandemic, growth in per capita disposable income and a sharp rise in free time due to pandemic-era restrictions resulted in a rise in consumer spending on nonessential items sold by the industry like plants and trees. Even as increased external competition from home improvement stores and mass merchandisers, which offer comparable goods at lower prices, hurt the... Learn More

8. Car Wash & Auto Detailing in Canada

2025-2026 Revenue Growth: 6.6%

An expanding economy has moderated revenue declines in the car wash industry over the five years to 2023. Businesses have benefited from higher disposable income and increased vehicle registration, which has supported demand for industry services. However, the COVID-19 (coronavirus) pandemic led to a considerable drop in industry performance in 2020 as less travel translated to lower need for industry-relevant services. Recovery following these disruptions has been bogged down by rising consumer prices, which has decreased inflation-adjusted industry revenue. Car wash and auto detailing revenue has been decreasing at a CAGR of 2.1% over the past five years, and is... Learn More

9. Automobile Electronics Manufacturing in Canada

2025-2026 Revenue Growth: 6.4%

Over the five years to 2023, slight growth in the Automobile Electronics Manufacturing industry in Canada is expected to be fueled by temporary factors, chiefly strong trade prospects. Despite a decline in vehicle production, the growing popularity of industry products have supported company performance. Disruptions due to the pandemic caused a large drop in revenue, though partial recovery is expected to have occurred. Reflecting these developments, industry revenue has been declining at a CAGR of 2.6% over the past five years, and is expected to total $2.2 billion in 2023. Growth of 1.6% is expected over the current year.

Industry exports... Learn More

10. SUV & Light Truck Manufacturing in Canada

2025-2026 Revenue Growth: 6.2%

Revenue for SUV and light truck manufacturers in Canada is projected to decrease throughout 2023, due to disruptions caused by the COVID-19 pandemic and volatile economic conditions. With the export market accounting for over 50.0% of industry revenue in 2023, of which more than 95.0% is destined for the United States, industry operators are heavily reliant on US economic conditions. Despite a robust economic recovery after the peak of the pandemic, industry production has not fully recovered to the levels exhibited earlier in the period. As a result, the industry has declined at a CAGR of 7.4% over the past... Learn More