When launching a new business, it’s essential to identify the industries uniquely positioned for growth. Each year, experts analyze the sectors that are likely to take off and succeed. Most of the industries identified may not sound lucrative but have experienced astronomical growth.
CBD Products
CBD products are revolutionizing the health and wellness industry. They’re finding their way into the food industry. The market for CBD beverages only will be worth $260 million by 2022.
Financial Services
The sector has a total revenue of $15.1 billion. You can be an online lender or a risk assessor. Other great ideas for startups include cloud-based accounting, credit repair services, and finance educators.
Baby Tech
The demand for technological solutions has extended from the adult population to the baby world. The market is expected to grow to $9.7 billion by 2022.
Construction
The sector currently has a total revenue of $12.5 billion. In the construction industry, you can either choose the service sector or the manufacturing sector. Any idea that can improve site productivity can be quite lucrative.
Personalized Nutrition
There’s no one-size-fits-all approach to nutrition. Some people may gain weight while others lose on specific diets. The market has attracted approximately 15 million people worldwide. It’s expected to grow to $19.1 billion by 2014.
Real Estate
The industry has a total revenue of $8 billion people will never stop looking for dream homes or relocating. You can become a real estate agent or you can go into real estate photography. Flipping houses is also a great idea if you’re into it.
Digital Therapeutics
Entertainment has developed from being used only for leisure to treating a host of medical conditions. Some may require a doctor’s prescription. The industry was worth $889 million in 2017 and will grow to $4.42 billion by 2023.
Work-leisure Apparel
More brands are becoming accommodative of work apparel that’s not too formal. Comfort, durability, and flexibility are some of the factors influencing this trend. Startups in the industry have funding as much as $10 million to grow their ideas.
Micro-mobility
The industry includes inventions like electric-powered bikes, skateboards, and scooters for ease of movement. It’ll be worth $24.3 billion by 2025.
Logistics and Transportation
The total revenue of the industry is currently $12.6 billion, and air cargo is one area that can be very lucrative though it’s capital intensive. Offering maintenance services to trucking companies is also ideal.
There you have it! 10 lucrative startup businesses you can consider for 2019. If you’re considering starting a business, these industries offer lots of opportunities to explore.
