Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Fastest Growing Industries by Exports in Canada in 2023
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View a list of the Top 25 fastest growing industries by exportsGrowth in Exports for 2023: 21.1%
Canned fruit and vegetable processors in Canada manufacture vegetable-based sauces, soups, canned produce, juices and dehydrated fruits and vegetables. Expanding health concerns regarding some of canned fruit and vegetable processors' products and boosting income levels have prompted consumers to turn to fresher or premium alternative goods. Despite manufacturers' efforts to introduce healthier brand extensions and safer packaging, demand for canned fruit and vegetable products has waned, pressuring canned fruit and vegetable processors' revenue. During the current period, boosted production from some processors has helped to mitigate overall losses. IBISWorld expects revenue for canned fruit and vegetable processing in Canada to... Learn More
Growth in Exports for 2023: 9.5%
The Cookie, Cracker and Pasta Production industry in Canada experienced strong growth through 2023. However, faltering economic and trade conditions threw spouts of volatility into the mix during the period. For example, per capita disposable income fell sharply toward the end of the period in 2021-22, which limited demand for discretionary goods from the industry significantly. In addition to this, producers faced volatile prices of several major inputs, including the price of wheat and sugar. These costs skyrocketed in line with global trade disruptions beginning in 2021. The price hikes hampered both profit growth and shifted consumer demand since most... Learn More
Growth in Exports for 2023: 9.1%
The Canadian ship building industry will expand through the end of 2023. Ship builders build, modify, convert and repair ships, including warships, icebreakers, ferries and offshore platforms. Prior to the current period, this industry was troubled, competing with foreign builders while dealing with inconsistent domestic demand. In an effort to rebuild its navy and coast guard, the federal government launched the extensive National Shipbuilding Strategy (NSS) which effectively solved this problem. The industry was able to begin its expansion since most of these projects will take more than a decade. Still, the industry was not immune to the negative economic... Learn More
Growth in Exports for 2023: 8.8%
Revenue for the Motorcycle, Bike and Parts Manufacturing industry in Canada has expanded over the past five years. These manufacturers are primarily small independent custom fabricators relying on specific demand trends. Similarly, almost all bicycle and bicycle parts manufacturing activities are done in low volume, mainly using foreign components and typically only adding value through customization. The industry, primarily focused on custom and high-end products, is closely tied to consumer income and confidence. Moreover, with Bombardier's Can-Am Spyder Roadster being the only mass-produced motorcycle in Canada, industry revenue is reliant on this product's performance. As a result, industry revenue is... Learn More
Growth in Exports for 2023: 8.5%
The Battery Manufacturing industry in Canada has experienced strong growth in recent years; there is growing demand for batteries in various applications, including portable electronics, electric vehicles, and renewable energy storage. This has created opportunities for Canadian battery manufacturers to expand their operations and increase production. The Canadian government has made significant investments in the development and commercialization of battery technology, including funding research and development programs, providing tax incentives and supporting the growth of the electric vehicle industry. This support has helped to attract investment and create opportunities for Canadian battery manufacturers. Consequently, industry revenue is anticipated to grow... Learn More
Growth in Exports for 2023: 7.7%
Plastic bottle manufacturers in Canada convert polyethylene terephthalate (PET), high-density polyethylene (HDPE) and other plastic resin pellets into bottles for use by a variety of downstream markets. Industry performance is heavily influenced by consumer demand for these goods. In addition, input costs are generally passed along to buyers through product pricing. This means changes in the price of volatile hydrocarbon commodities can influence industry performance as well. Rising input costs, falling per capita soft drink consumption and increasing environmental concerns have influenced industry revenue throughout 2023. As a result, industry revenue has been growing at a CAGR of 0.1% over... Learn More
Growth in Exports for 2023: 7.0%
The Boat Building industry in Canada has exhibited a high level of volatility over the five years to 2022. The industry experienced disruptions due to trade tensions between the United States and Canada. As these tensions eased and the Canadian dollar weakened, the industry resumed growth as improving economic conditions domestically and in the United States raised demand for industry vessels. The COVID-19 (coronavirus) pandemic fostered strong boat sales as rising household incomes and wealth in addition to affordable borrowing conditions drove demand for industry output. Recreational boating activity also rose in popularity, benefiting industry operators. As a result, the... Learn More
Growth in Exports for 2023: 6.8%
Canadian semiconductor and other electronic component manufacturers produce various input devices for circuits and memory chips. In recent years, manufacturers experienced mild volatility amid continued offshoring and greater competition from US and East Asian manufacturers. Any expansion has been driven by robust demand for domestically and abroad semiconductor products, and a global shortage for electronic components. COVID-19 has diminished manufacturers' performance by disrupting production plans and creating supply chain challenges. Industry-wide revenue is expected to rise at a CAGR of 0.3% to $5.4 billion over the five years to 2023, when revenue is forecast to jump 6.4% as high prices... Learn More
Growth in Exports for 2023: 6.8%
Widespread offshoring of apparel manufacturing has been detrimental to the Textile Mills industry in Canada, as distant apparel manufacturers are unlikely to source their textiles from Canada, decreasing demand for industry products. As a result of a shrinking downstream apparel market and a decline in industry exports, industry revenue has fallen steadily over the five years to 2021. However, growth in the price of synthetic fibre and broader macroeconomic recovery have mitigated industry revenue losses to a degree. Overall, industry revenue is expected to decline an annualized 1.5% to $3.4 billion over the five years to 2021, including a decline... Learn More
Growth in Exports for 2023: 6.6%
The Glasses and Contact Lens Manufacturing industry in Canada produces eyeglass lenses and frames, contact lenses 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 over much of the five years to 2022, competitively priced imports satisfy a significant portion of consumer demand for industry products. Although the COVID-19 (coronavirus) pandemic hindered the overall economy, IBISWorld projects revenue to continue expanding as industry products are considered an essential health expenditure for... Learn More
Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Biggest Industries by Employment in Canada in 2023
VIEW ARTICLEBased on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Biggest Industries By Revenue in Canada in 2023
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