Canada Payday Loans Market Size & Outlook, 2022-2030

The payday loans market in Canada is expected to reach a projected revenue of US$ 722.7 million by 2030. A compound annual growth rate of 4.2% is expected of Canada payday loans market from 2023 to 2030.
Revenue, 2022 (US$M)
$521.9
Forecast, 2030 (US$M)
$722.7
CAGR, 2023 - 2030
4.2%
Report Coverage
Canada

Canada payday loans market highlights

  • The Canada payday loans market generated a revenue of USD 521.9 million in 2022 and is expected to reach USD 722.7 million by 2030.
  • The Canada market is expected to grow at a CAGR of 4.2% from 2023 to 2030.
  • In terms of segment, storefront payday loans was the largest revenue generating type in 2022.
  • Online Payday Loans is the most lucrative type segment registering the fastest growth during the forecast period.


Payday loans market data book summary

Market revenue in 2022USD 521.9 million
Market revenue in 2030USD 722.7 million
Growth rate4.2% (CAGR from 2022 to 2030)
Largest segmentStorefront payday loans
Fastest growing segmentOnline Payday Loans
Historical data2018 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationStorefront Payday Loans, Online Payday Loans
Key market players worldwideTitleMax, Cash Money, Check City, Mr Lender, Fast Loan, Speedy Cash Payday Advances, GAIN Credit, Cashfloat, Creditstar Group, Mr. Payday


Other key industry trends

  • In terms of revenue, Canada accounted for 10.3% of the global payday loans market in 2022.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
  • In North America, U.S. payday loans market is projected to lead the regional market in terms of revenue in 2030.
  • Canada is the fastest growing regional market in North America and is projected to reach USD 722.7 million by 2030.

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Payday Loans Market Companies

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Canada payday loans market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to payday loans market will help companies and investors design strategic landscapes.


Storefront payday loans was the largest segment with a revenue share of 53.09% in 2022. Horizon Databook has segmented the Canada payday loans market based on storefront payday loans, online payday loans covering the revenue growth of each sub-segment from 2018 to 2030.


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Horizon Databook provides a detailed overview of country-level data and insights on the Canada payday loans market , including forecasts for subscribers. This country databook contains high-level insights into Canada payday loans market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Canada payday loans market size, by type, 2018-2030 (US$M)

Canada Payday Loans Market Outlook Share, 2022 & 2030 (US$M)

Canada payday loans market size, by type, 2018-2030 (US$M)

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