America's Fastest-Growing Industries
Being at Right place at the Right time -- we all know, that makes lot of difference in your career path -- irrespective of the talent you have. Thus, some call it Lady Luck -- but all we know is that it takes an open mind and proper perspective to receive her favor. If you are looking for career opportunities in fields with a bright future, check out these industries. Some may seem odd but the economics are sound. We start with one.
Hot Sauce Production: Demand for hot sauce has been driven by demographic consumption trends, immigration and international demand. As Americans' palates have become more diverse, hot sauce has become more popular. Hot sauce also contains capsaicin: capsaicin excites the nervous system into producing endorphins, which promote a pleasant sense of well-being. Growth rate is averaging 10% per year.
Generic Pharmaceutical Manufacturing: The demand for drugs continues to increase. Generic drugs are sold without patent protection and tend to be cheaper than brand-name drugs, making them more attractive in the face of rising overall healthcare costs. Growth rate in this industry is averaging 9% per year.
Pilates & Yoga Studios: Americans are expected to get fatter over the next decade, but an increasing number of them are spending more of their income on ways to stay fit and trim, and no fitness fad is more trendy these days than yoga and Pilates. Even in the face of economic troubles. Pilates and yoga studios are thriving. Growth has been averaging 12% per year.
For-Profit Universities: For-profit universities have come under fire in recent years for pumping students up with debt and leaving them with little to show for it. But even in spite of this there's no doubt that demand for post-secondary education overall will continue to grow as our economy becomes more competitive and specialized. Growth is averaging 13%.
Self-Tanning Product Manufacturing: The self-tanning industry has exploded in the past decade as consumers have tried to find a more healthy way to get a summer glow. Self-tanning is no longer synonymous with bad tanning, either. Today's offerings produce a more natural looking tan for a wider range of skin tones. Average annual growth in the last ten years has been 22%.
Online Eyeglasses & Contact Lens Sales: In the past decade there has been a huge emergence of online retail and it is now the preferred method of shopping for a great many Americans. Purveyors of glasses and contacts have benefited from this more than most. New technologies, such as virtual try-on systems in which shoppers upload a picture to see how frames look on their faces, have made customers more confident in their online purchases. Ten-year average growth has been 28%.
Green and Sustainable Building Construction: The country as a whole has made great strides towards energy-efficient construction. Rising energy and other commodity prices have made sustainable building more cost effective, helping green and sustainable construction survive the recent economic downturn. This trend is expected to continue to gain momentum. Projected annual growth 2012-2017: 23%.
Solar Panel Manufacturing: The rising costs of fossil fuels, have driven global demand for solar power, and falling silicon prices have made the production of solar panels much more economically viable. There is much government support for the development of solar power and backers of solar power are in it for the long haul, in the hope that this renewable and environmentally-friendly source of energy will play an increasingly large role in powering the world economy. Average annual growth 2002-2012: 32%.
Social Network Game Development: This industry didn't even exist ten years ago but it's hard to deny that the fusion of social networking and gaming is a phenomenon worth watching. The accelerating speed and accessibility of the internet has lead to skyrocketing growth. Over the past five years, social networks have become an integral part of life for many people and enabling them to find a cheap alternative source of entertainment. This trend is expected to continue to be an important part of people's lives. Average annual growth 2002-2012: 128%
3D Printer Manufacturing: 3D printing has been around for about ten years, but it has only been in the past few that it has advanced enough to create serious buzz. 3D printing is the process where a single machine creates or "prints" a three-dimensional object by piling successive layers of material on top of each other. Projected average annual growth through 2017: 14.0%
Hot Sauce Production: Demand for hot sauce has been driven by demographic consumption trends, immigration and international demand. As Americans' palates have become more diverse, hot sauce has become more popular. Hot sauce also contains capsaicin: capsaicin excites the nervous system into producing endorphins, which promote a pleasant sense of well-being. Growth rate is averaging 10% per year.
Generic Pharmaceutical Manufacturing: The demand for drugs continues to increase. Generic drugs are sold without patent protection and tend to be cheaper than brand-name drugs, making them more attractive in the face of rising overall healthcare costs. Growth rate in this industry is averaging 9% per year.
Pilates & Yoga Studios: Americans are expected to get fatter over the next decade, but an increasing number of them are spending more of their income on ways to stay fit and trim, and no fitness fad is more trendy these days than yoga and Pilates. Even in the face of economic troubles. Pilates and yoga studios are thriving. Growth has been averaging 12% per year.
For-Profit Universities: For-profit universities have come under fire in recent years for pumping students up with debt and leaving them with little to show for it. But even in spite of this there's no doubt that demand for post-secondary education overall will continue to grow as our economy becomes more competitive and specialized. Growth is averaging 13%.
Self-Tanning Product Manufacturing: The self-tanning industry has exploded in the past decade as consumers have tried to find a more healthy way to get a summer glow. Self-tanning is no longer synonymous with bad tanning, either. Today's offerings produce a more natural looking tan for a wider range of skin tones. Average annual growth in the last ten years has been 22%.
Online Eyeglasses & Contact Lens Sales: In the past decade there has been a huge emergence of online retail and it is now the preferred method of shopping for a great many Americans. Purveyors of glasses and contacts have benefited from this more than most. New technologies, such as virtual try-on systems in which shoppers upload a picture to see how frames look on their faces, have made customers more confident in their online purchases. Ten-year average growth has been 28%.
Green and Sustainable Building Construction: The country as a whole has made great strides towards energy-efficient construction. Rising energy and other commodity prices have made sustainable building more cost effective, helping green and sustainable construction survive the recent economic downturn. This trend is expected to continue to gain momentum. Projected annual growth 2012-2017: 23%.
Solar Panel Manufacturing: The rising costs of fossil fuels, have driven global demand for solar power, and falling silicon prices have made the production of solar panels much more economically viable. There is much government support for the development of solar power and backers of solar power are in it for the long haul, in the hope that this renewable and environmentally-friendly source of energy will play an increasingly large role in powering the world economy. Average annual growth 2002-2012: 32%.
Social Network Game Development: This industry didn't even exist ten years ago but it's hard to deny that the fusion of social networking and gaming is a phenomenon worth watching. The accelerating speed and accessibility of the internet has lead to skyrocketing growth. Over the past five years, social networks have become an integral part of life for many people and enabling them to find a cheap alternative source of entertainment. This trend is expected to continue to be an important part of people's lives. Average annual growth 2002-2012: 128%
3D Printer Manufacturing: 3D printing has been around for about ten years, but it has only been in the past few that it has advanced enough to create serious buzz. 3D printing is the process where a single machine creates or "prints" a three-dimensional object by piling successive layers of material on top of each other. Projected average annual growth through 2017: 14.0%
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