Last updated on March 4th, 2023 at 05:33 am
The world is changing rapidly, and the industries that will be the fastest-growing in 2022 are ones that you might not even have heard of yet! In this blog post, we will explore 15 of the most exciting and fast-growing small businesses of the future.
Whether you’re looking to start a business or just stay ahead of the curve, read on to learn more about where the world is headed and what new businesses are booming, regardless of an online or brick-and-mortar presence.
Which Industries Are Growing?
Home Health Care
Thanks to the pandemic, the home health industry enjoyed being one of the fastest-growing industries of the pandemic and will likely continue through 2022.
According to a study published by Grandview Research:
“The global home healthcare market size was valued at USD 320.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030.”
According to Fortune Business Insights, in 2021, the cybersecurity industry was valued at $139.77 billion, and is projected to grow to $376.32 billion by 2029.
As virtually everyone has spent more time online, be it a small firm in need of IT consulting services or individuals seeking for support after a security breach, the demand for cybersecurity services has skyrocketed.
And the breaches are skyrocketing, too. According to Security Magazine, 2021 was a real pip for breaches: Facebook, Android, and even the country of Thailand.
If you’re looking to develop an IT security business, no time like the present.
When the pandemic was in full force, remodeling one’s home was a priority on many homeowners’ lists. According to Harvard University’s Joint Center for Housing Studies, remodeling spending has increased by 8.6% from 2021 into 2022.
One snippet from the article:
“Home remodeling will likely grow at a faster pace given the ongoing strength of home sales, house price appreciation, and new residential construction activity,” says Chris Herbert, Managing Director of the Joint Center for Housing Studies. “A significant rise in permits for home improvements also indicates that owners are continuing to invest in bigger discretionary and replacement projects.”
Sadly, the pandemic took a major toll on the mental health of millions of people. According to this article, the behavioral health market is expected to reach $245 billion by 2027.
In addition, we are seeing more awareness and less stigmatization of mental health, so the trend of mental health is on the up. Starterstory.com has a list of 11 business ideas for you to try.
If you were forced to stay inside due to the pandemic, it wouldn’t be too far out the way to guess that you may have indulged in a houseplant or three. (Maybe not if you have pets.) Over the past couple of years, interest in plants developed into a way of life. According to civicscience.com, 66% of US consumers own at least one houseplant.
Although the plant trend was already gaining ground before the pandemic, it is not slowing down. The popularity of online gardening communities among millennials and Generation Z shows no sign of abating.
Today, neighborhood garden centers aren’t the only ones where you can buy plants; internet nurseries are also popular with internet-savvy purchasers. You may open your own in-demand plant company if you have a green thumb and some room to grow plants.
We love our pets, there’s no question about that. Before the pandemic, billions were already being spent on our beloved critters. With pet adoption soaring in the past few years (another offshoot of the pandemic), the U.S. pet industry is poised to nearly triple to $275 billion by 2030. There are several opportunities opening up for this market.
Dog walking or pet grooming services may be used to start their own enterprises, as well as opening pet supply stores.
Fortunately, you don’t need an advanced degree for many jobs working with animals. A lot of the education required is mainly a high school diploma and on-the-job training. The U.S. Bureau of Labor Statistics stated that jobs in this field are projected to grow 33%, which provides many a business opportunity if you love animals.
Online Tutoring and Learning
Despite the fact that most schools across the United States have reopened to full-time, in-person education for the 2021-2022 school year, the impact of last year is still being felt. Students are typically four to five months behind academically. And minority and low-income kids’ learning loss is much more significant.
One thing about the return to mostly in-person learning, tutors are becoming hightly sought after by parents and school districts in order to help their kids. While many students (especially their parents) are happy to return to face-to-face learning, online learning isn’t going away. E-learning platforms are an easy and convenient way for anyone to learn new skills.
With the world coming to a standstill in early 2020, many enterprises had to develop methods for staff to continue working in a virtual environment. Organizations have moved in-person meetings, conferences, and other large-scale events online as a result of this development.
Many in-person gatherings will resume, but virtual meetings and events provide simplicity and flexibility that many individuals are unwilling to give up. According to LinkedIn statistics, 75 percent of marketers expect to continue hosting virtual events over a year from now.
According to Grandview research, expect annual growth in the digital events market to grow at a rate of almost 24% from 2021 to 2028.
With COVID restrictions being lifted, weddings have taken off like a rocket. Not only do you have the couples who want to get married, but there were also the couples who wanted to marry during the pandemic whose weddings were postponed or canceled.
According to Brides.com, a wedding boom is here and looks to last through 2023. This is a great time to either get your wedding business off the ground or grow on it.
Food delivery was already booming before you-know-what, and in addition, that you-know-what has driven phenomenal growth in food delivery market. By 2025, the industry is projected to grow to at least $170 billion.
With the rise of internet-based food delivery services, there’s a chance for smaller businesses to get their foot in this door. For example: if you’re not able or willing enough to be an entrepreneur with no experience running large operations but still have connections who could help out on occasion – consider subcontracting some aspects of your business. You can do so through such major players like Uber Eats.
You’ll need more than just good taste when it comes time; undercutting competitors will be key if we want consumers’ dollars flow locally instead of into the pockets of major conglomerates.
You might also go into other businesses by offering food delivery services. You could work as a personal shopper or fulfillment specialist for firms like Instacart or other e-commerce delivery services, which would allow you to expand your business beyond food delivery. These jobs are in high demand — up 73% since 2019.
The virtual fitness business has exploded in popularity due to the COVID 19 pandemic. People are looking for ways to stay fit and healthy without having to go to a gym or public place. Virtual fitness provides people with the ability to workout in the comfort of their own home.
There are many opportunities for those who want to start a virtual fitness business. You can create your own workout videos, offer personal training services, or even create a fitness app. The sky is the limit when it comes to starting your own virtual fitness business. With some creativity and hard work, you can be successful in this industry expecting to grow by 39% over the course of the decade.
Digital Content Creators
The digital world has changed drastically over the past few years, with businesses continuing to rely on marketing methods that were once reserved for newer technologies. As a result of this trend set by our society’s ever-changing habits and preferences in regard to information delivery systems like email or social media platforms – which now boast nearly daily use among all demographics – it is expected there will be steady growth within these industries throughout 2020s .
In most cases, all you need to start is a computer, internet connection, phone and some software. Best of all, it can be run from the comfort of your home.
Beauty is one of the most popular industries out there. With the pandemic (ah, yes, always the pandemic) people staying at home making beauty products to put on their ecommerce stores, or selling other peoples’ beauty products.
Zenbusiness put together a list of 67 beauty trends you can try to make a business of. Yep, 67. So there is hope if you have tried or have just taken a look at the sheer volume of beauty products out there and was like “NOPE.”
Freelancing has been around ever since the start of jobs, and with the internet, the business has just exploded.
With platforms like Upwork and Fiverr, you can utilize your skills to earn extra cash and gather a devoted base of clients.
Data Science has evolved to a very popular and lucrative career. According to Grandview Research:
“The global data science platform market size was valued at USD 3.93 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 26.9% from 2020 to 2027.”
Given that data scientists and analysts can earn well over $100000 per year, it’s no secret that this is the career for the 2020s. However, there are some caveats: you need to know math, algorithms, or statistics. You can take classes for those to boost your marketability and maybe even pursue a degree.
If you are looking to start a data science business, the Startup Mag offers insights and ideas about how to do it.
Summing it All Up
If you already have a small business or even a growing small business, you may be thinking of how to ramp things up to bring in more revenue. Maybe you are considering a pivot to another small business or niche. With the aforementioned fastest-growing businesses mentioned, there’s likely a market for you to tap or even pivot into.
Research has shown that nearly 60 million Americans have considered starting their own business at some point. And with the rise of technology, it’s easier than ever to grow your business and turn your entrepreneurial dreams into a reality. It’s just a matter of being able to get your piece of the pie, regardless of the industry.
Dani Lehmer is the Founder and Head Honcho of Dani Digs In.
She is a Quality Assurance Analyst and blogger whose natural curiosity allows her
to dig in (pun intended) to help people build their businesses and satiate curiosity
in regard to data science, analysis, and crypto.