Astrology, CBD, veganism and biohacking: these are among the fastest growing industries for entrepreneurs in 2020, according to data recently released by global creative platform 99designs.
As it has done for the past two years, 99designs has identified the following emerging industries forecast for explosive growth in 2020, based on analysis of the number of companies in these sectors requesting design work on the platform:
1. Astrology-related businesses
Already an estimated $2.1 billion dollar industry that’s caught the eye of venture capitalists, astrology businesses include everything from horoscope apps and podcasts to spiritual consultancies. The number of astrology-related brands in this sector getting design work has risen 209% since 2015 and more than doubled (127% increase) in the past 12 months.
Also known as ‘DIY biology,’ biohacking encompasses a wide array of practices used to boost physical and mental performance. That can mean anything from sleep tracking and IV hydration therapy to intermittent fasting and much more. The number of businesses in this sector commissioning creative work on 99designs is up 445% since 2015 and 71% in the past year alone.
3. CBD businesses
Already estimated to be amulti-billion dollar global industry spanning food and drink, health and beauty, pet products and more, 99designs has seen an incredible 1568% increase in cannabidiol (CBD) related design work since 2015. With a sharp 61% increase over the past 12 months, the sector is showing no signs of slowing down as it continues to shed its social stigma thanks to more widespread legalization and increased public awareness of the difference between psychoactive (THC) and non-psychoactive cannabis extracts.
4. Vegan and plant-based products
Continuing with the health and wellness trend, vegan and plant-based brands continue to flourish with the number of design projects in this space showing a 20% increase year-over-year, and a 214% increase since 2015.
“Every year we take the pulse of what’s on the rise and the wane in terms of the types of businesses creating brands on our platform. It’s a fun way to spot emerging industry trends on a global scale,” said 99designs COO Pamela Webber.
“While last year it was all about drones, AI healthcare and influencer agencies, 2020 shows a notable shift toward the wellness space. We think it is driven by consumers seeking to take control and wanting to address social anxieties and concerns about their health, happiness and future success.”
Here is the infographic: