Photo: Ivan Samkov

What business is always in demand?

Key Takeaways. Industries that will never go away are those that cater to basic human needs and thus have continued high demand. Food is considered one of the safest industries for investment and is comprised of diverse sectors including agriculture, ranching, processing, preservation, preparation, and packaging.

investopedia.com - Industries That Will Never Go Away - Investopedia

How much is a 1943 steel penny worth?

Value of a 1943 Steel Penny They are worth about 10 to 13 cents each in circulated condition and as much as 50 cents or more if uncirculated. Mar...

Last updated Jan 22, 2021

Do zodiac signs control your personality?

The results of this study suggest that people's birth signs have no influence at all on their personality. Additionally, they suggest that a...

Last updated Feb 28, 2018

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

Innovation and technological developments have made it difficult for many industries to survive using their traditional methods. While some industries overhaul themselves and keep apace, some are not able to cope and eventually become redundant. Despite this cycle of so-called creating destruction, there are certain industries that are unlikely to fade away as they support our lives and lifestyles. Even today, people’s basic needs have broadly remained the same. Everyone still eats food, though it can be more processed than fresh. Likewise, children will need an education, and everyone needs a doctor at times. In this article, we'll review those key industries that have been around for a long time and will survive the ups and downs of market cycles. Key Takeaways Industries that will never go away are those that cater to basic human needs and thus have continued high demand. Food is considered one of the safest industries for investment and is comprised of diverse sectors including agriculture, ranching, processing, preservation, preparation, and packaging. The pharmaceutical and healthcare industries have experienced significant growth as both developed countries and emerging nations spend more money on high-quality healthcare. Education is one of the fastest-growing industries globally, with the rising middle and upper classes in India and China helping support this rapid expansion. Three other highly resilient industries are entertainment and media, professional services, and the "sin industry" (which broadly includes alcohol, tobacco, and gambling).

1. Food

Food is required for life and this means demand will always be high. For this reason, the food industry is one of the safest industries for investment. The food industry covers a variety of activities such as agriculture, ranching, processing, preservation, preparation, and packaging. This industry is diverse not only in terms of products but also in terms of the size of players, from traditional family-run, labor-intensive farms to capital-intensive, highly mechanized firms. Some of the prominent areas are dairy product processing, grain and oilseed milling, sugar and confectionery products, animal food manufacturing, vegetable and fruit preservation, and food packaging. The industry is impacted by short-term conditions that can depress the demand of a sector at times, but the long-term demand stays intact until a substitute for "food" is found.

What should I drink first when I wake up to lose weight?

Healthy morning drinks for weight loss Lemon water with chia seeds. Both lemon water and chia seeds are beneficial for weight loss. ... Green tea....

Last updated Mar 5, 2019

What religion believes in the Bible but not Jesus?

Biblical Unitarians Biblical Unitarians Biblical Unitarianism (also known as "biblical Unitarianism" or "biblical unitarianism") identifies the...

Last updated Jul 8, 2019

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

2. Pharmaceutical

The pharmaceutical industry has experienced impressive growth globally. In 2019, worldwide spending on pharmaceuticals before discounts and rebates came in at $1.25 trillion, up from $1.2 trillion in 2018. The industry is dominated by companies from North America, South America, Japan, and Europe. Companies in this industry are investing a lot in research and development (R&D) to create breakthrough drugs.

3. Healthcare

The healthcare industry has grown tremendously, backed by government initiatives to provide high-quality healthcare, especially in developed countries. Further spurring growth in this industry are rising populations and incomes in emerging markets, increased access to healthcare facilities, aging populations, and an uptick in chronic diseases. Improvements in healthcare have boosted life expectancies and quality of life. The industry is a mix of products and services such as hospitals, nursing homes, ambulance services, laboratories, doctors and healthcare professionals, medical devices, equipment, and hospital supplies. Organizations, healthcare leaders, and governments continue to look for ways to provide high-quality services that are economically viable.

4. Education

The education industry is one of the fastest-developing industries globally, generating large-scale employment and revenues. Private partnerships, e-learning, higher demand for foreign education, and increased offerings for test preparation have transformed education from the traditional schoolhouse. The rising middle and upper classes in India and China have helped support this rapid growth and transformation. Overall, the industry is comprised of products and services such as private universities, vocational training, online education, primary and secondary education, international studies, and educational materials.

5. Sin Industry

This industry will continue to survive because, as the old-time adage goes, “old habits die hard.” The industry broadly includes alcohol, tobacco, and gambling. These industries are called "sin" industries because of their undesirable social impact and costs. These industries are heavily taxed by governments and are a source of revenue. The taxes on the "sin products" are often ineffective in curbing the consumption of these products or services, as they belong to a class that is price inelastic.

What is the world's toughest job?

A stuntman may be one of the hardest jobs to take up. The world is watching them, and their job is to pull the biggest stunt of all time. Sep 6, 2022

Last updated Sep 22, 2018

What are the 7 rules of money?

Top 7 Rules Of Money To Stay Financially Fit Understand What Type Of Investor You Are. ... Increasing Time Horizon Is The Best Strategy To Grow...

Last updated May 10, 2021

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

6. Entertainment and Media

This industry is a mix of businesses involved in the production and distribution of television programs, commercials, games, publishing, music and audio recordings, and motion pictures. According to a PricewaterhouseCoopers' (PwC) report, revenues for the global entertainment and media (E&M) industry are expected to grow to $2.6 trillion by 2025. The popularity of web-based entertainment is growing. PwC reports that Internet access accounted for 34% of E&M spending in 2020 and will increase at a 4.9% compound annual growth rate, from $694 billion in 2020 to $880 billion in 2025.

7. Professional Services

The professional services industry employs highly skilled workers in accounting, engineering, information technology, architecture, and legal matters, along with management consulting. In developed and fast-developing economies, professional services are a substantial part of the gross domestic product (GDP). The demand for most of these services is driven by the overall economic health and corporate profits. Thus, in hard economic times, the industry can face a slowdown, but it eventually will make a comeback as spending on these services is only postponed.

The Bottom Line

Some of the industries listed above are recession proof, while others are cyclical. Overall, the big players in each of these industries adapt and upgrade to cater to our changing preferences and technologies, so that they can continue to meet our basic and lifestyle needs.

investopedia.com - Industries That Will Never Go Away - Investopedia

What color is the luckiest in 2022?

Cerulean blue, fiery red, mint green and imperial yellow are the lucky colours for 2022. These colours are derived from the four elements of Feng...

Last updated Apr 20, 2021

How to start life without money?

Contents: Examine How You Got Here. Consider Low-Cost Living Options. Start with a Strict Budget. Reach Out for Assistance. Apply for Jobs. Begin...

Last updated Nov 1, 2022

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

What is the unlucky color 2022?

Lucky colors: orange, black, and blue Tigers are suggested avoiding brown, gold and silver this year. Read more about Tigers' Monthly Predictions...

Last updated May 21, 2021

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

What can I put in my wallet to attract money?

Bank notes: Even if you have a few of them, keep them in the wallet because money attracts money. Besides, it is considered inauspicious to carry a...

Last updated Apr 25, 2019