This decade's biggest business will take place on the Internet, in the yoga studio, or around the supermarket aisle. So says IBISWorld, the market research firm that releases an annual report of the fastest-growing industries, based on absolute revenue growth, established growth for the last 10 years, and expected performance for the next five years. The list of 10 industries serves as a good measure of our fiscal and social priorities. For example, several industries promote technological innovation, while others reflect our desire to take better care of ourselves as well as the environment. Here's a breakdown of the hottest industries to watch, plus a few suggestions in each field of related occupations with good job prospects.
10. Online Eyeglasses & Contact Lens Sales
You can now buy everything from gadgets to groceries online; all you need is a reliable Internet connection and an at-the-ready credit card. IBISWorld predicts online sales for eyewear and contact lenses will flourish, especially with new technologies that allow customers to upload their image and virtually test how they'll look in the eyewear they're browsing. Revenue for the online eyewear and contact lens sales industry has grown by 28.2 percent, on average, annually for the last 10 years. Up to 2017, revenue is expected to grow 8.8 percent annually.
Related Jobs: The online marketplace has become more sophisticated, and requires techy know-how about site navigation and design to keep us enticed and clicking. If you're a Web developer, you might want to search for openings at top industry players like 1-800-Contacts.com or Walgreen Company.
9. Green & Sustainable Building Construction
"Going green" is both fashionable and necessary. According to IBISWorld, the demand for energy-efficient buildings has skyrocketed, and government programs like Energy Star provide further incentive for corporations to design, build, and operate their buildings in a more responsible manner. Green and sustainable building construction grew 28.9 percent annually from 2002 to present. From 2012 to 2017, this industry should grow at an average annual rate of 22.8 percent.
Related Jobs: Shedding 28,000 positions this May, the entire construction industry has been in a fragile state. Still, there's promise in the green and sustainable pocket of the sector. The Bureau of Labor Statistics (BLS) predicts we'll see a hiring renaissance for occupations like carpenters, plumbers, and cost estimators.
8. Hot Sauce Production
We're in to eating. Terms like "food porn" and "nom nom nom" have entered the vernacular, and a simple diet of meat and potatoes just doesn't cut it if pho and sushi are options. A growing immigrant population with different consumption habits has contributed to our now-assorted taste buds, as its also changed the landscape of restaurants available and the items sold in our supermarkets. We've changed our ordering habits, broadened our cooking repertoire, and created a demand for the ingredients most needed to create these dishes. Production for one such ingredient—hot sauce—has seen average revenue growth of 9.3 percent per year from 2002 to present, and production is projected to continue swelling at an annual rate of 4.1 percent for the next five years.
Related Jobs: Looking to capitalize on this foodie trend? The BLS reports the potential for more than 117,000 jobs for restaurant cooks from now to 2020. Hiring prospects are best for cooks with formal and specialized training.
7. Social Network Game Development
Social networking games are genius. They give the gaming industry a stake in the hysteria over websites like Facebook, offering members free-to-play online games at a time when purchasing gaming consoles is a luxury for some. These social network games then profit with onscreen advertising and by selling virtual goods that could be used during the course of play. IBISWorld found that this industry's revenue increased an average annual 128 percent from 2002 to 2012, and expects it to grow at an annual rate of 22 percent for the next five years.