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

• 1. Glasses & Contact Lens Manufacturing in Canada

  2025 Revenue Growth: 15.3%

  Glasses and contact lens manufacturers in Canada play a crucial role in providing essential vision correction and protective eyewear, supporting the well-being and productivity of individuals across age groups and demographics. In recent years, consumer spending on eyewear has been rising, driven by increased screen time and a growing number of adults 65 and older requiring more eye care solutions. Despite this, competitively priced imports fill a large portion of this demand, creating challe...

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• 2. Auto Parts Wholesaling in Canada

  2025 Revenue Growth: 11.7%

  Auto parts wholesalers lately have been dealing with a volatile marketplace and this is causing a bunch of swings in their revenue performance. Inflation has become a major part of the economy lately. Factors like inflation have fueled the need for price boosts to cover these costs in this industry. Yet such decisions remain volatile depending on the state of prices, with this leading to price drops happening recently, as such factors depress revenue gains. The shortage of truck drivers is po...

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• 3. Gambling in Canada

  2025 Revenue Growth: 10.1%

  Gambling in Canada has undergone significant changes recently, anchored by the legalization of single-event sports betting through Bill C-218 in 2021. This amendment to the Criminal Code allowed provinces to regulate single-event sports betting, transforming the gambling landscape. When Ontario legalized online gambling, quickly capitalized on this by integrating single-event betting into its iGaming market in 2022, leading to increased revenues and a more secure betting environment. This shi...

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• 4. Navigational Instrument Manufacturing in Canada

  2025 Revenue Growth: 10.1%

  Navigational instrument manufacturers have faced a fluctuating landscape over recent years, highlighting both challenges and opportunities. While diverse product lines spanning defence, marine, aerospace, and electronic sectors have provided a cushion against major revenue swings, fierce competition and high production costs have narrowed profit and revenue. As defence spending in Canada increased slightly, benefiting manufacturers, it's worth noting that domestic defen...

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• 5. Market Research in Canada

  2025 Revenue Growth: 8.3%

  Market research operators in Canada suffered from modest swings in revenue stemming from economic volatility for most of the period. While the period started with a dip in revenue because of the pandemic, the changing media landscape and the ability to conduct online market research kept sales from dropping drastically. Market research is needed in times of economic uncertainty since it helps customers navigate unknown waters. Although the economy reopened, a spike in inflationary pressures s...

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• 6. Eyeglasses & Contact Lens Stores in Canada

  2025 Revenue Growth: 6.8%

  Eyeglasses and contact lens stores sell eyeglasses, contact lenses, sunglasses, safety eyewear and optical accessories. 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 costlier, designer eyewear. The industry has been relatively insulated from...

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• 7. Nursery & Garden Stores in Canada

  2025 Revenue Growth: 6.8%

  The Nursery and Garden Stores industry in Canada has seen its fortunes rise because of pandemic restrictions, 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 resulted in a rise in consumer spending on nonessential items sold by the industry like plants and trees. Even as increased ext...

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• 8. SUV & Light Truck Manufacturing in Canada

  2025 Revenue Growth: 6.2%

  Canadian SUV and light truck manufacturers have struggled over the past decade, particularly as automakers move production abroad. High labour costs in Canada have encouraged foreign automakers to shift production to the United States, Mexico and other low-cost regions, diminishing output. However, the remaining passenger vehicle output in Canada has shifted toward increasingly popular SUVs and light trucks, creating some growth opportunities domestically. In particular, pickup trucks have gr...

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• 9. Travel Agencies in Canada

  2025 Revenue Growth: 6.0%

  Travel agencies have struggled due to COVID-19 and the rise of internet travel booking, which has interfered with the core services of travel agencies. Online travel agents now play a larger role alongside traditional brick-and-mortar businesses. Most agencies suffered in 2020 and 2021 as governments imposed restrictions on travel. Revenue is expected to slump at a CAGR of 4.7% to $2.4 billion through the end of 2024, including an increase of 12.5% in 2024 alone.

  The pandemic fuelled a...

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• 10. Home Furnishings Stores in Canada

  2025 Revenue Growth: 5.9%

  Home furnishing sales have faced significant volatility in recent years. Revenue gains during the early stages of the pandemic can be attributed mainly to rising disposable income and a growing residential construction sector. During this time, many traditional stores had to pause operations to prevent the spread of the virus, but stores with online shopping platforms benefited from rising demand. Elevated inflation and rising interest rates led to revenue losses in 2022 and 2023, as consumer...

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