Industries That Have Thrived During COVID

Covid Economy

The past year and a half has been tough in many ways—on both people and the economy. However, it isn’t all doom and gloom. 

There’s no doubt that this pandemic has impacted our lives and habits in many ways. From working from home, new hobbies, and new ways of spending, these changes have all had an impact on countless industries. 

Some markets, in fact, have actually grown since much of the world went into lockdown in March 2020. In this article, we’ll be focusing on just a few of the industries that have thrived during COVID.

Industries That Have Thrived During COVID

For many industries, it has been a relief just to get by during this unprecedented time. However, the following are just some of the industries that have grown during COVID:

Cleaning Services

With the emphasis on cleaning and sanitizing surfaces, professional cleaners have been in great demand. 

Businesses such as restaurants, medical centers, offices and all other commercial and public spaces have had to increase their vigilance when it comes to cleanliness. As deep cleaning became more important, the need for cleaners did too.

This is one industry that will likely continue to thrive for some time to come, as the anxieties around the pandemic slowly fade. In fact, experts estimate the market will increase at a compound annual growth rate (CAGR) of 6.3% by 2025.

Delivery Services

From food delivery to courier and home delivery services like Amazon and FedEx, this is one industry that’s been booming.

With people being advised to stay home, most of the world has had to come to them. The delivery industry really stepped up during this pandemic, bringing consumers the goods they couldn’t go out and get themselves.

Shopping habits have changed drastically compared to pre-pandemic, and it’s likely this sector will continue to see demand for quite some time. The food delivery market alone was expected to grow by about $10 billion between 2020 and 2021.

Gaming

Another way staying home has affected peoples’ lifestyles is that they’ve had to find new forms of entertainment. The gaming industry has profited off of this conundrum. 

Board games, puzzles, and educational games for children have all become more popular. The e-gaming industry has been similarly strong. Games like Animal Crossing: New Horizons and Among Us led the sector in popularity and had a big cultural impact.

While this industry was never really at risk of suffering through the pandemic, its growth is still significant, with experts estimating it will be worth $200 billion by the end of 2023.

Online Education

The pandemic has been an especially challenging time for students. With much of learning around the world moving from the classroom to the home, online education is one sector that has flourished. 

From new innovations in digital technologies and increased demand for online tutors, the market has expanded in many ways.

And the industry shows no signs of slowing down. In fact, the market for e-learning is expected to grow exponentially in the next few years. Experts predict a CAGR of 21% between 2021 and 2027.

Grocery

With many restaurants closed for periods of time, grocery stores were more necessary than ever. Being one of the few types of businesses allowed to remain open throughout the entirety of the pandemic also helped.

Small and big stores alike have experienced higher rates of demand. Increasing the availability of online shopping and delivery services also helped. In fact, supermarkets saw the biggest rise in online sales, growing by 128.8% between June 2019 and June 2020.

At-Home Fitness

With gyms unable to open through most of the pandemic, people had to find new ways to stay in shape. The easiest solution for many was to create a home gym or bring other fitness equipment into the home.

The popularity of this industry extends further than just equipment. Content creators and influencers saw a huge spike in popularity as at-home fitness content became highly in demand.

The industry has seen huge growth, with the global market growing from $6.76 billion in 2019 to $9.49 billion in 2020.

Lottery

Whether people were simply looking for new ways to stay entertained or hoping a big win could help them with the financial strain of the pandemic, the lottery business has boomed.

With a few record-breaking jackpots being won during the pandemic, including a $1.05 billion Mega Millions prize (the third-largest lottery in US history), it should come as no surprise.

The industry is expected to continue to thrive, with experts predicting $194.14 billion of growth between 2021 and 2025. 

And with online lottery agents and lotto betting sites becoming more and more popular, this will surely grow over time as more people play from home or while on the go.

Conclusion

Though many industries have struggled to stay afloat during the unprecedented events of the last year and a half, there are a few markets that have had great success. The industries on this list have not only thrived during this time, they show no signs of stopping.

LEAVE A REPLY

Please enter your comment!
Please enter your name here