Most Profitable Industries in Canada in 2025

1. Commercial Banking in Canada

Total Profit for 2025: $152.0B

Despite low interest rates and some hiccups in economic growth, commercial banks in Canada have expanded throughout 2023. Banks have done an exceptional job diversifying revenue streams, overcoming limits imposed by low interest rates, and increasing regulations. The industry primarily generates revenue through interest income sources, such as business loans and mortgages, but it also generates income through noninterest sources, which include fees on a variety of services and commissions. Industry revenue has been growing at a CAGR of 2.2% over the past five years and is expected to total $275.4 billion in 2023, when revenue will likely jump an... Learn More

2. Apartment Rental in Canada

Total Profit for 2025: $19.6B

Revenue for Canadian apartment lessors has grown in recent years. Apartment lessors collect rental 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 lessors. Favourable economic conditions and demographic trends during most of the period have driven growth in demand. In 2020, the spread of COVID-19 lessened demand for apartment rentals, but the nature of apartment leases prevented a decline in revenue until 2021. Revenue has grown since 2022 as higher... Learn More

3. Heavy Engineering Construction in Canada

Total Profit for 2025: $9.0B

Heavy engineering construction in Canada undertakes large-scale infrastructure projects that include mass transit systems, harbour and port facilities, tunnels, outdoor areas and power plants. In addition to heavy construction, contractors also provide auxiliary services such as the maintenance and repair of physical structures and construction related to conservation. The industry depends heavily on government spending at both the federal and provincial levels, private investment in physical assets and downstream demand on the part of the energy sector.

Through the end of 2023, construction contractors have benefited from the federal government's strong commitment to closing Canada's infrastructure gap, although volatile commodity markets... Learn More

4. Management Consulting in Canada

Total Profit for 2025: $7.5B

Management consulting in Canada is composed of companies that provide consulting services to private businesses and the public sector. These advisory services are tailored to provide strategic, financial, marketing, operational and supply chain management consulting services. Businesses partake in mergers and acquisitions, joint ventures, divestitures and initial public offerings based on their expectations of what the future holds. Although the company provides countercyclical services that support industry revenue during economic downturns, the COVID-19 pandemic hindered industry operations in unprecedented ways in 2020. Revenue is expected to grow at a CAGR of 2.0% to $23.9 billion over the years to 2023,... Learn More

5. Automobile Wholesaling in Canada

Total Profit for 2025: $7.4B

Revenue for the Canadian Automobile Wholesaling industry tends to ebb and flow with general fluctuations in the overall economy, particularly at the consumer level. Industry operators heavily rely on economic conditions in the United States, as a large portion of revenue is derived from Canada's southern neighbour. Although international trade is accounted for at the manufacturing level, industry operators still target cross-border downstream markets, such as US automobile and heavy-duty truck dealerships.

Despite a steady economy for most of the period, industry revenue is expected to experience a deep decline due to decreased demand stemming from the COVID-19 pandemic. Automobile wholesaling... Learn More

6. Hotels & Motels in Canada

Total Profit for 2025: $6.1B

Hotels and motels have benefited from rising incomes and population growth in recent years as consumers spent freely on vacations and hotel stays. But, when COVID-19 shut down tourism, hotel rooms were left empty, creating long-lasting financial and operational challenges. A travel slump through early-2021 left the industry struggling, as bookings stayed at a fraction of what they were in 2019. Yet, long periods at home left consumers with savings and pent-up demand to spend on trips as travel restrictions lifted. While enormous demand for travel led to a rapid recovery at hotels between 2022 and 2023, supply chain disruptions... Learn More

7. Real Estate Sales & Brokerage in Canada

Total Profit for 2025: $5.4B

Real estate sales and brokerage services are closely aligned with the health of the Canadian real estate market. Revenue rises alongside property prices and real estate transaction volumes as real estate agents are paid on a commission basis when they close a deal. A growing, aging and progressively wealthy Canadian population has boosted demand for residential properties. Industry revenue has been growing at a CAGR of 7.3% over the past five years, and is expected to reach $26.0 billion through the end of 2023, despite a decline of 2.5% in 2023 alone.

Revenue has grown despite a sharp decline in the... Learn More

8. Software Publishing in Canada

Total Profit for 2025: $5.2B

The Software Publishing industry in Canada has exhibited strong growth over the five years to 2023 amid the introduction of new products, chiefly within the enterprise services and data analytics domains. Rising consumer spending has boosted demand from both businesses and consumers. Additionally, technological advancements and the increased use of laptops and smartphones in companies and consumers' everyday lives have necessitated the need for wide software varieties, boosting industry demand. However, the continued use of illegally downloaded software has hampered growth. Still, industry revenue has been growing an annualized 8.0% over the past five years and is expected to reach... Learn More

9. Meat, Beef & Poultry Processing in Canada

Total Profit for 2025: $5.2B

Canadian meat, beef and poultry processors are powerhouses in Canada's food manufacturing sector, representing more than one-quarter of the sector's revenue. Despite this role, declining per capita meat consumption has slowed growth prospects. Disease outbreaks and a growing awareness of the health risks associated with red meat consumption have threatened Canadian appetites for steaks and fresh meats. Even so, meat products remain staples in the Canadian diet. Revenue has expanded at an expected CAGR of 3.4% to $42.9 billion through the current period, including a 0.9% jump in 2023.

The associated risks of obesity, heart disease and certain cancers have played... Learn More

10. Property, Casualty and Direct Insurance in Canada

Total Profit for 2025: $4.5B

Property, casualty (P&C) and direct insurers service individuals and businesses by providing protection against a variety of man-made and natural events, such as car accidents, severe storms, wildfires, business theft and medical malpractice. The industry has slightly declined throughout 2023 but has still benefited from gradual growth in per capita disposable income and corporate profit, which have enabled industry operators to charge higher premiums. Moreover, as the Canadian population has grown, aged, urbanized and gotten progressively wealthier, demand was boosted for property, casualty and direct insurance. However, revenue is still expected to decrease at a CAGR of 0.5% to $77.6... Learn More