Best Niche Industries to Profit From In 2020
Picking a niche market is tough when it comes to starting an online business, especially if you don’t know which one to go into. It defines what you sell and to whom you sell it.
Don’t worry! You’re not alone.
In this post, we’re going to share with you the 10 most profitable niches to get into right now.
Before we do, let’s get clear on a few things.
What’s Makes A Profitable Niche Market?
If you want guaranteed success, then tap into a market where people are already spending money.
In other words, sell what’s already selling.
This is one of the key principles of niche marketing and its what most starting marketers fail to understand.
The key here is to tap into the minds of people who have a serious problem that needs solving or are raving fans of something. And MUST have extra income to spend on stuff.
- Golfers invest thousands of dollars in things to do with golf.
- Individuals who suffer from eczema or any other illnesses would do anything to find a remedy.
- Those who “work a lot but get little to no money” want more income.
- Film fans are constantly investing their money on their favorite movie characters.
We’ve found that the top niches are those where you’re solving a specific problem for somebody. And it doesn’t have to be in a life-threatening situation. It could be as easy as selling Nike shoes (for athletes) or the most recent Avengers collectibles (for die-hard fans).
It also doesn’t mean you have to build your business around selling a single niche item (i.e. Nike shoes).
You could opt to do service work like SEO for local business owners,
- Teach others how to write hot-selling novels,
- How to start a lawn mowing business,
- How to write converting sales copy, or
- How to make money with Youtube videos.
You might want to be careful of choosing a niche market based on your “passions”.
There’s nothing wrong with this if you choose to go down that path. It only becomes a problem if no-one is spending money in that area of interest.
Let’s say, for example, you have a passion for animal artwork and you’re selling a product thats related to that topic. If people arent taking the first step to look for your products let alone buy it, then its not a profitable or indemand niche.
As I mentioned before, sell what people are already buying.
This piece of information will save you huge amounts of time and money. Trust me.
The money will flow through once you help identify and solve the problems of others. To find a need then go to town on filling it.
But Aren’t Profitable Niches Saturated?
Fortunately, they’re not. The truth is, you can sell in whichever niche market you want.
Some entrepreneurs want to make you feel that particular niches such as health are overly aggressive. I mean, look at Resurge – its currently #1 on Clickbank Marketplace, yet no-one has ever heard or come across this program before. They can still generate thousands of dollars in a competitive market and sales.
To really take advantage and compete in the more profitable niches you need to:
- Invest time and money
- Be able to adapt to the ever changing improvements going on in and out of the marketplace,
- and put in a whole lot of effort.
If it were that easy, everyone would be profiting from these niches already.
Another market that individuals believe to be aggressive as well is the Dating niche. This would be true if Match.com dominated that whole market. Tinder wouldn’t have existed then.
So How Do I Compete In Competitive Markets?
You take what is already working and improve upon it.
And accept the fact that it will take you two to three years for you to dominate.
Keep in mind though, you don’t have to have millions of clients on your list to be able to make $10K a month.
You only need a solid fan base of 1,000 people who wish to buy from you continuously.
Think about it!
1,000 people x $10/ per month each = $10,000 total earnings a month.
See where I’m getting at?
Grow Your Database of Niche Market Ideas
Now that we’ve cleared a few things up, let’s look at those profitable niches, shall we?
This post is not going to be about “1001 niche ideas.” Instead, we’re going to share with you 15 profitable niches that are in-demand and that you can get a cut in.
Note: Some niches may already be familiar to you, others may not.
1) Renewable Energy
There’s a growing demand for renewable energy sources.
This has everything to do with Tesla Powerwalls, solar tiles to charging packs.
There’s a lot of stuff you can sell within this market.
For example, individuals are currently looking at water and wind turbines to create power.
Don’t believe me? Have a look at Saudi Arabia. They intend to become a world leader in solar power by 2030.
They are among the largest oil producers in the world and they are now moving towards renewable energy.
2) Biodegradable Consumables
This niche is based on environmental trends that is happening now in the world.
Everybody knows that plastics are filling up our landfills and oceans. Something has to change.
There’s a massive opportunity in this market where you can promote different items that could last for several months. Ideas of products could be straws or bottles. Biodegradable drinking straws are just one product with the potential to modify an entire industry.
People understand that waste is not okay since it’s currently entering our food chain. Fish and birds are not the only ones swallowing plastics – we are too. Some predict that biodegradable packaging and consumables will be an enormous market over the next 5 – 10 years.
If your goal in life is to help change the world for the better, this would be a good niche for you to grow in.
3) Subscription Boxes
Who would have thought that people would pay for a box of stuff delivered to them every month?
Mishibox, a Korean beauty-shop, is an example of a subscription box model. Their skincare boxes are usually out of stock every month.
Imagine owning a business where your inventory sells every single month? You could include a subscription box as part of your existing niche industry. For example, you could send organic food ingredients to pet owners who own older cats or dogs.
4) Virtual Reality
Virtual Reality has taken a toll on the world and it is now becoming the next “Big Thing”.
It has been a popular topic for many years. The only thing that has held it back is technology.
Thanks to Oculus Rift, VR is a growing trend. Not only for nerds or geeks, but also for others who wish to immerse themselves into the digital entertainment world.
5) Tiny Homes
The times where people would dream to live in big houses and mansions are long gone.
Now they want the opposite. Forget living in a 12-bedroom house mansion. According to sources, people would rather live in tiny homes.
The development of small houses being built just proves how much demand there is. There’s a growing number of families searching for homes outside major metropolitan areas.
Tiny houses are most popular among individuals who wish to enlarge their houses to make more space for their families.
There is also a growing demand for those who wish to utilize them for business use.
It’s been said that by 2050, a majority of people will be speaking Spanish in the United States. In addition to that, Canadian colleges are teaching students how to speak Chinese due to the growing demand in China.
According to sources, the digital language-learning market generates $6 billion in revenue. And there’s a prediction that it would rise to $8.7 billion by 2025.
Individuals around the world, including myself, enjoy learning languages. And it’s no surprise that there’s a growing demand.
Duolingo, a language-learning app, has a database of over 200 million students worldwide. That’s a lot of language-learning students. Just imagine tapping into that market and snatching a piece of the profit.
That means there’s a market that exists for:
- online language training solutions
- language tuition software
- and everything associated with learning a language.
There is a growing number of people raising pets than children. They refer to them as “fur babies”.
Companion animals play a big part in Western lifestyles, and it’s becoming the same in other countries. Truth be told, there’s a lot of affiliate programs and products which you can sell. If I was you, I’ll jump onto this band-wagon as soon as possible.
You can start an authority site talking about the different breeds of cats. Or start up a youtube channel showing people how to build a dog kennel. Or even a niche site on healthy animal food.
You can even offer to do offline services. Where I live, there’s a continuous search for dog-walkers or pet-sitters. So there’s no doubt that pet owners are looking to pay you $100 for looking after their pet. Pet owners also like to make sure they’re providing their “fur babies” with the best i.e. food, shelter, and regular health checks.
This would be a good niche market to go into because there’s a variety of animals you can talk about and a selection of products you can promote. With the growing generation of “fur babies”, why not jump into this?
8) Survival (a.k.a Preparation)
If you watch the news, you’ll notice there’s a lot of bad things happening in the world. And making sure that your family is safe is a priority. If not, then it’s about preparing yourself for survival.
Don’t the weather patterns appear to be shifting, for instance? Would it not be a smart move for you to prepare your family for weather threats like a storm or strong cold?
You could start a drop-shipping business selling survival supplies like backpacks, boots, even survival knives.
If you want more ideas related to survival, you can refer to Helium10 or Jungle Scout. If you don’t want to go into ecom, you can start an affiliate marketing business instead targeted towards survival newbies.
What’s good about this market is the fact that you can expand into other sub-niches within the main topic of “Survival”. You can cater to buying frozen food, shotgun ammunition, knife manufacturing, food preservations, and many more. Or create an authority site within each of the sub-topics. Anyone in the survival community will be interested in one or more of those sub-niches.
Heres a tip: if you are looking to sell on Amazon, you want to look for keywords with low competition but have plenty of searches, this way it’ll be easier for you to rank in Amazons products list.
9) Dating & Relationships
Relationships have always been on the radar of top niche markets to sell into. It’s one of the Evergreen Markets.
Many things fall under the Relationship and Dating Category. For example, divorce, getting your ex back, friendship, trust, parenting, and the list goes on.
The most common problem that people have in a relationship is finding someone who they can spend their life with. A soulmate.
Studies reveal that online dating has been tried by around 50-million Americans at a certain stage. From a marketer’s standpoint, that’s HUGE. What’s more is, anyone including yourself can take a piece of the cake and profit from it. If you’re asking, how?
Well, you can write a book on how to get a girlfriend or boyfriend (or even find another market with an easier target). Publish it on Amazon and earn over $100 daily. Or you could put together a product on how to split-up with someone since everyone else is promoting stuff to do with getting your ex back.
With the existing amount of information on the topic of relationships and dating, there’s no doubt that there’s money to be made.
This can also be a good chance for you to write and publish your very own book. It’s never been easier than it is now to create income-generating books. You can bank up to $100 a day. I’d recommend you check out Publisher Rocket if you’re interested in publishing. You’ll be able to find niche keywords that are easy for you to dominate in the Kindle publishing world. They’ll help you get on track without all the hassles and help you bank your first $100.
10) Personal Finance
One of the places that we go to get help from is the internet.
Since the 2008 financial crisis, a lot of people have started diversifying their income. Even during the pandemic. Many people have been made redudant and millions around the world have lost their jobs too. Thats a HUGE market, wouldn’t you agree?
Here in NZ, around 180,000+ people were laid off their jobs within the first few weeks of lockdown.
After the first few days of the world going into lockdown, the search results for how to stay healthy and how to make money online climbed the charts in Google trends. So no matter what, finance and anything to do with increaseing wealth or income will forever be indemand.
Here are a few sub-niches that fall under the personal finance category:
- buying your own home,
- saving money,
- getting out of debt,
- insurances (funeral insurances, home insurances, car insurances, etc),
- getting your credit scores up,
- and a whole lot more.
The information you can provide in this space is unlimited. You can start an information site on how to do budgeting. Or how to save up for retirement. Or even how to buy your own home. You could even provide coaching services.
I would recommend you check out ThePennyHoarder.com for ideas of sub-niches to go into.
Bear in mind, people are more interested in figuring out how to spend less so you can’t sell high-priced products to this market.
If you’re targeting people who want to earn more income, then selling higher-priced products won’t be a problem.
You will need to do some keyword research if you want to get into the financial market.
There is a tool called, Long Tail Pro that can help you find keywords that people are most likely to search for and have low competition.
11) HOME SECURITY
Home safety is another growing market and contains plenty of sub-niches inside.
You could begin an affiliate website focused only on home defense guns. Home tracking hardware and software are increasing in popularity.
Wi-Fi, safety camera systems, doorbells, and PIR lighting methods.
A sub-niche may be offering alternatives to avoid “porch pirates” from sneaking packages from external houses. You could even start a YouTube channel reviewing gadgets and house security gadgets.
In the past 40 years, the population of the planet has nearly climbed to 7.6 billion individuals.
That is a lot of babies born, wouldn’t you say?
What this means is, the marketplace for baby-related goods is growing every day. Additionally, parents have been “raving fan” spenders for baby products. New parents pay an average of $4,000 annually to look after and feed their infant.
Sub-niches in this marketplace include baby names and Amazon products i.e. baby clothes. You can create a site targeted towards parents that are in their 30s. Or a site about the adoption process.
So the chances in this market are infinite. Individuals within this marketplace are ready to pay anything for their families.
13) WEIGHT LOSS
There are millions of products around the weight loss industry so there’s no doubt that people are searching for answers.
Weight loss has been a high demand for people across the world. Many of the top-selling products on Clickbank have all been weight-loss related.
There’s a market for helping people lose those additional pounds, and keeping them off. You can become a personal trainer on YouTube targetting young adults. Or you could start a niche website or offline small business enterprise, offering personalized meal strategies. Or maybe a digital product on weight loss for individuals.
Yes, it is a competitive market to go into. And sure you will need to compete with Time, Innovation and Energy. The good news is, you will still be able to create some revenue from programs such as the Amazon Affiliate program or display adverts. Although, there might be some ethical boundaries with certain types of content promotion.
Having said that, you can make a killing if you choose to show display ads on your website or become an affiliate for weight-loss related programs. We recommend Adsense and Ezoic for beginners. Ezoic is excellent for any site that runs ads. They use AI to maximize your earnings and place your ads in the best areas of your site. You can subscribe to it for free.
14) LEARNING A MUSICAL INSTRUMENT
This market is not for everybody because musicians are another breed. They could easily beat any non-musician marketers out of business.
Learning to play a musical instrument has been a thing that people have been wanting to do for a long time, including me. You don’t have to cater to beginners only. There’s also a market for musicians who want to take their instrumental skills to the next level.
One of the best ways to sell into this market is through membership sites. That teaches people a lot about playing a specific instrument. You can start a Youtube channel, teaching students different ways of playing an instrument or do covers of famous artists. That’s also another way to monetize your Youtube channel. Many others have done it like this.
Or, you can sell either physical or information products like different kinds of pedals for different guitars, bass players, etc.
If you prefer taking the membership site route, then Clickfunnels is your best option for setting up your entire membership. You can build out a landing page, provide upsells, and host your membership site.
15) ELECTRONIC ENTERTAINMENT
Digital gadgets and devices are a part of our every-day life. In the next ten years, electronic gadgets and entertainment will be among the larger markets in the world.
If you want to make money in this field, it’s best to concentrate on a specific sub-niche. For example, you could start a site about media players and streaming software that interconnect with each other. Or a product on how to earn money with game streaming platforms like Twitch.
You can even create reviews for every one of the essential equipment like Network Attached Storage devices. Or a niche site focusing on setting up your own media streaming servers at home.
These niches markets have been based on future-predictions and past trends. You can use them as guidelines to find sub-niches. However, we believe that you best stick to the principle of selling what people are already buying.
By doing so, you will make money. Guaranteed.
Remember, at the end of the day, you only need 1,000 raving fans to be able to make $10K a month. For a more realistic goal – you would only need 100 buyers at a monthly payment of $10 each to make $1,000 a month.