Canadian home improvement stores forecasted to hit $36.3 billion by 2029

The Canadian home improvement stores industry is projected to reach $36.3 billion in revenue over the next five years from 2024, growing at a compound annual growth rate (CAGR) of 3.1%. The industry employs 95,831 workers across 1,250 businesses.

Increased consumer interest in do-it-yourself projects during the COVID-19 pandemic boosted revenue, despite economic uncertainties and competition. Major players like Home Depot of Canada and Lowe’s Companies Canada are key contributors to the market. E-commerce advancements and the rising demand for sustainable products have driven growth.

The industry’s future looks steady, supported by a stabilizing economy and ongoing consumer engagement in home improvement projects.