Top 5 Fastest-Growing Industries in the USA this Year – Whether you are an investor seeking to expand your portfolio or a businessperson seeking out the most profitable niche, the fastest-growing industries in the U.S. are those to keep an eye on.
Below, we will address five of the (predicted) fastest-growing industries in the USA in 2023, from service industry niches to tech and science-based industries. Our reviews are not only based on revenue growth but also on impact and social traction. First, let’s remind ourselves of the 2022 winners:
- IT
- Domestic Airlines
- Online Retail
- Concert and Event Promotion
- Shipping and Delivery
Remember, we are discussing the fastest-growing industries, not the largest-grossing. In the wake of the COVID-19 pandemic, we saw a number of industries take a hit, forcing them to pivot in out-of-the-box ways. Now, in the years following, some of these industries are finding their stride, growing at an accelerated rate.
Here are the top 5 fastest-growing industries in the US. Of note is that they are in no particular order.
1. Online Food Delivery Services
In-store grocery shopping and home preparation are moving down the list of convenient options.
Additionally, as the fitness world is growing in size, meal-prepping and macro-counting is becoming much more widespread.
As of recently, food preparation and delivery companies have been taking note, providing ready-made, macro-friendly meals delivered on a weekly cadence. Companies like Factor, Blue Apron, and Home Chef have grown considerably over the past several months, capturing a worthy portion of the grocery store market share.
Of course, we can’t forget about restaurant food delivery services such as DoorDash and Uber Eats that are continuing to find returning, stay-at-home, hassle-averse customers.
There is no question that food delivery is one of the fastest-growing industries in 2023, and as a nation that loves food and convenience, this trend won’t be reversing anytime soon.
2. Artificial Intelligence
The world was met with a surprise at the end of 2022 with the release of the Microsoft-driven ChatGPT prototype.
The natural language processing tool quickly gained attention, and when its features began their incorporation into the Bing search engine, Google, one of the world’s biggest companies, was put on high alert.
Since this time, Google (by necessity) has announced a rival AI technology, boasting superior capabilities.
Because of this sudden AI war between two of the planet’s largest companies, the AI industry is becoming evermore relevant. Surely, in the coming year there will be significant growth and development in the world of AI.
3. Mental Health
Since the 2020 pandemic, a greater emphasis has been placed on the importance of mental health.
While mental health seems to be declining, speaking very generally, the social advocacy for mental health care is very much on the rise. This has created a large demand for mental health care professionals. In fact, the increased need for mental health care is beginning to strain capacity.
These strains from 2022 are likely to carry over into an increase in the practice of mental health care in 2023 as new individuals elect to pursue a career in the mental health field.
For these reasons, the mental health care industry is expected to be among the fastest growing industries in 2023.
4. Healthcare
This one may not come as a surprise.
The combination of population increase, obesity, and lack of physical activity creates a nationwide (even global) strain on health.
As is the case with mental healthcare professionals, there is a shortage of healthcare professionals in the United States. However, this shortage isn’t due to a particular scarcity of doctors and nurses, but rather an alarming increase in medical care needs.
As the pandemic outlined, healthcare is essential. Thus, the industry provides job security and competitive pay. When these things are coupled with high demand, it is hard to rule healthcare out of the list of top 5 fastest-growing industries in 2023.
5. Travel
Because of travel limitations over the past several years, the general public seems to be making up for lost time.
The travel industry is expected to see continued growth into 2023 as regional, national, and global airlines continue to fill their seats.
Due to the ease of travel and newfound work flexibility, travel completes our top five list.
Find Job Security in a Growing Industry
For job seekers and employers alike, it is important to note the growth of these industries. Such insights can inform the decisions of both a job seeker and a hiring manager.
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