High growth industries to watch in Canada
Looking forward, we see impressive potential across all industries where Canada holds a leadership position. This includes key sectors like gaming, clean technology and agri-food. These future looking industries will continue to drive innovation and create jobs in the new world economy. They will also attract investors looking to access highly skilled workers and advanced innovation ecosystems.
Canada is the world’s 8th largest video game market. We’re home to 700 active video game companies, up 16% over 2019. The industry contributes over $4.5 billion to the Canadian economy and supports an estimated 48,000 full-time jobs.
The global clean technology market is expected to range in value from US$2.5 trillion to US$6.4 trillion by 2022‒2023. Canada has the potential to become a market leader. To meet the goal of net-zero emissions by 2050, the Government of Canada has introduced $1.5 billion in initiatives to help businesses transition to cleaner energy and produce low carbon products.
Agriculture and agri-food employs 2.3 million Canadians – more than any other manufacturing industry – and contributes over $143 billion to Canada’s GDP each year. Supported by world-class agricultural producers, food processors and innovative technologies, Canada is primed to be a top destination for agribusiness investment.
The success files
Industry: Life sciences
Total investment: $925 million
Source country: France
Location: Toronto, Ontario
Sanofi’s investment in a new flu vaccine manufacturing facility in Toronto will allow the company to increase production and meet the growing global demand for influenza vaccines.
The expansion project is supported by funding at the federal and provincial levels. It will create 1,225 jobs and funnel an additional $79 million each year into R&D, supporting Canada’s life sciences supply chain and improving Canadians’ future access to vaccines.
“This [project] will make the country, which has a strong legacy in vaccine research and development, one of our key hubs in our effort to protect and improve human health across the globe.”
Lovingly Made Ingredients
Total investment: $15 million
Source country: United Kingdom
Location: Calgary, Alberta
Drawn to Canada for our supply of raw peas, exceptional agricultural standards, excellent transportation infrastructure and investment in plant protein research, U.K.‑based Meatless Farm opened its flagship plant protein facility, Lovingly Made Ingredients, in 2020.
The 30,000 square foot plant is expected to produce up to 14,500 tonnes of plant-based ingredients and starches for different industries. These include meat alternatives, bakery snacks and cereals.
“The exceptional agricultural standards and investment in plant protein research attracted us to the Canadian market.”
Watch more FDI in Canada stories
Investing in life sciencesPlay video
Investing in plant proteinsPlay video
Investing in Canada’s northPlay video
Investing in a green futurePlay video
Investing in communitiesPlay video
Finding the best to invest
FDI Report 2020Play video