Niche markets are segments of the population that share specific characteristics and needs that have not yet been met by market offerings. This represents an opportunity for companies.
COVID-19 has changed the way we consume, strengthening certain sectors and increasingly weakening others. However, the market continually offers new opportunities. Below we’ll give you some examples of niche markets that are trending in 2021.
1. Healthy food
Spanish consumers are increasingly aware and better informed about the importance of good nutrition. Many people pay attention to the ingredients and preparation of products. Therefore, the healthy food sector is gaining momentum and is a good option for starting a business.
This trend has been reflected in the rise of healthy food establishments, such as Hawaiian restaurants known as Poke Bowls. According to the 2020 Just Eat Report , it has become one of the leading food delivery options, with an increase of more than 221%.
2. Sustainable products
Consumers pay attention to brand values, and respect for the environment is essential. The 13th edition of the Tetra Pak Index 2020 report shows that environmental issues are among consumers’ top concerns globally, with 49% of consumers expressing concern. Consumers are willing to pay a higher price for environmentally friendly and eco-friendly products.
An example is brands that make products with biodegradable or recycled materials, such as toothbrushes, clothing, and accessories.
3. Gaming
The video game sector has been positively impacted by the global pandemic. As the data demonstrates, it is a rapidly growing sector in Spain. The White Paper on Spanish Video Game Development forecasts a growth rate of 17% for the period 2019-2023, reaching €1.723 billion in revenue by 2023.
Business ideas related to this sector will benefit. For example, the sale of gaming accessories , ergonomic furniture, or video game character merchandise.
4. Reforms
After months of confinement, we are more aware than ever of the importance of being comfortable and at ease in our homes. This is the main reason why renovations have skyrocketed in 2021. As Habitissimo points out , renovation requests have increased by 11%. This increase in demand has overwhelmed companies in the sector, as they are experiencing difficulties in finding qualified personnel.
It’s certainly a good time to invest in this sector.
As always, if you have a business idea and want to get it off the ground, we’ll make it easy for you with our flexible workspaces.
Have you spotted any new niches in 2021? Share them in the comments.
