SCORE, the nation’s largest network of volunteer, expert business mentors, has gathered statistics which identify today’s most promising growth industries for entrepreneurs looking to start a successful small business.
Food and drink
- Online grocery stores: This shopping option is expected to grow 21 percent annually.
- Chocolate: Chocolate confectionery sales in the U.S. are projected to reach $25 billion by 2019.
- Craft beer: Sales of craft beer doubled between 2009 and 2014 to $20 billion.
- Home health services: Jobs for home health aides are expected to grow by 48 percent by 2022.
- Corporate wellness: Fitness programs and wellness-tracking software are expected to grow 8.4 percent annually.
- Mobile shopping: By 2017, more than half of Americans will use their smartphones to make a purchase.
- Online fraud detection: Cybercrime software is projected to generate $1.78 billion by 2020.
- Drone manufacturing: Already a $3.3-billionindustry in the U.S., drone design and manufacturing is projected to grow to $82 billionby 2025.
- Biometrics: Body scanning for security applications may grow from $7.7 billion in 2014 to $44.2 billion by 2021.
- Green construction: This industry is expected to generate more than $303 billion over the next three years.
- Translation: The global market for language services and technology will hit $49.8 billion in 2019.
- Pet care: Americans already spend nearly $20 billion per year on pet care, a trend Millennial pet owners are expected to maintain.
Choosing the right industry for a new small business
Download this infographic for more data on today’s growing industries. Industry growth is just one factor in choosing the best industry for a new small business. Other important considerations include target market, location and competition. Experienced SCORE mentors who have watched the business world change firsthand are available to discuss today’s business landscape.
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE’s 10,000+ volunteer business experts provide 350,000+ free small business mentoring sessions, workshops and educational services to clients in 300+ chapters nationwide. In 2015, SCORE volunteers provided 2.2+ million hours to help create more than 45,000 jobs and 55,000 small businesses.