(MENAFN)

E-commerce is one of the fastest-growing industries in Canada. According to data on the US government’s International Trade Administration (ITA) website, the initial projections for 2024 were that ecommerce would generate more than 65.5 billion US dollars in value. More recent data shows, however, that the industry defied this prediction and hit around $89.4 billion in gross merchandise value (GMV). Fashion (23.3%), hobbies and leisure (20.7%), and electronics (20.6%) were the top-performing categories, and the industry looks set to grow to around 109 billion US dollars by 2029. Below is a look at more rapidly growing industries in Canada.

Gambling

Changes in regulation have seen Canada embrace single-event sports betting and, in some provinces, iGaming, and this has helped the gambling sector to grow swiftly. The aim of the regulatory changes was to create a more secure environment for players and increase provincial revenues.

Ontario is one province that has certainly enjoyed growth following the changes and wasted no time in legalizing online gambling and introducing single events sports betting into its market. The online casinos have been popular for the variety of games and the convenience they offer, but one lesser reason mentioned for their popularity is how quickly players can withdraw their winnings. They can do this in as little as 1-2 days. If you’re looking for a Canadian casino that enables quick withdrawals, Casino.org Canada is the place to find them.

Market research

Market research is an industry fraught with economic volatility, but the changing media landscape and the ability to conduct market research have helped it to continue growing. In times of economic instability, market research is a necessity and helps operators’ customers navigate uncertain seas. Higher inflation between 2021 and 2023 and other economic volatility harmed corporate balance sheets, and companies cut back on their market research. Even so, revenue is expected to grow by 8.3% in 2025 alone, as interest rates have fallen and revenue has started to get back on track, and overall, the compound annual growth rate (CAGR) is predicted to be 1.3% as demand for market research recovers.

Jewelry manufacturing

Soaring silver and gold prices have helped the jewelry manufacturing industry grow in 2020 and 2021 as producers have passed the cost on to buyers. This, combined with gains in disposable income, was fundamental. Inflation and slowing economies caused revenue to fall in 2022 and 2023, but overall, jewelry producers have benefited more from higher silver and gold prices because of the heightened economic uncertainty, which is pushing investors to seek more stable investments and persuading them to invest in precious metals.

Hog and pig farming in Canada

The Canadian pork industry is booming. Growth of 11.7% in 2025 has seen it reach $8.5 billion. A surge in domestic pork sales, driven by rapid population growth has triggered a large part of this growth. The nation’s farmers have also enjoyed healthier cash receipts due to an increase in red meat prices.

Unfortunately, farmers in the pork industry might not have it as much as their way for longer as they do just now. The falling price of poultry, plus general competition from poultry and plant-based products, threatens to eat into pork industry farmers’ profits. A preference for premium pork products, however, as part of changing consumer dietary choices, could counterbalance this competition and falling consumption in 2023 and 2024 for hog farmers.

Glasses and contact lenses

Increased screen time and a growing number of adults over 65 years old needing visual aids has driven growth of the glasses and contact lens industry. The Canadian industry has, however, experienced its challenges, as imports have filled a lot of demand for eye care products in Canada, but world events exposed the nation’s dependence on imports and gave local manufacturers more of an opportunity to step in where the supply chain is failing the nation. Experts are predicting more opportunities for them, as demand for comprehensive insurance coverage grows, which triggers a demand for eyecare professionals and for eyecare products.

Cookie, cracker, and pasta production

Increases in the price of wheat and sugar have hit cookie, cracker, and pasta producers’ profits hard between 2021 and 2022 because of lower disposal incomes per capita and demand shifting as the costs were passed on to consumers. Other than this shaky period, cookie, cracker, and pasta production have witnessed strong growth over the past five years. Revenue is envisaged to reach around $5.1 billion in 2025, which includes a 12.8% gain in 2025 and, according to predictions, profit reaching 14.3%. Strategic adaptation in operations and management of the supply chain is keeping businesses competitive and profitable despite changing costs and demand.

Ecommerce is growing rapidly, as are the other industries mentioned above. Times have been turbulent in the economy, but observing shifts in the needs and preferences of consumers and adapting business operations to them has helped lots of businesses in each industry survive and even thrive.

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