A recent study by investment publication, Invezz, reveals the top 11 industries that were positively affected by COVID-19. During a time of unprecedented economic uncertainty, there were some industries that did surprisingly well. With many macro and micro factors at play that lead to these industries’ successes, Invezz decided to explore further. With no Vaccine and 2nd wave threatening, where also look at what this means for these industries. The top 11 are:
- In-home coffee market
- Esports and gaming
- Home gym & exercise equipment
- Luxury & customised face masks
- Garden equipment
- Hand sanitiser
- Meal kits and online groceries
- Instant messaging and video conferencing
- Entertainment streaming services
The Instant messaging and video conferencing vertical saw the likes of Microsoft Teams reporting a new daily record of 2.7 billion meeting minutes in April, an increase of 200%. Elsewhere, Slack grew their “simultaneous users” by 2.5 million in a matter of 2 weeks.
Meanwhile, the disposable face masks market is projected to rise by as much as 53% (CAGR) from 2020 to 2027. This sees the likes of Prada, Gucci and Balenciaga, all attempting to tap into this new lucrative market and illustrating the market opportunity.
Lastly, the meal kit market is now predicted to grow by 17.78% in 2020, with Hello Fresh and Gousto leading the way, particularly making major gains during the national lockdown.
David Merry of Invezz commented on this, “whilst for many companies, the past few months have been terrible for business. For some, however, it actually presented an opportunity, and these companies were quick enough to pivot. Others were in the right space at the right time. And for another select group, it had in fact accelerated existing activities. Even with a potential 2nd wave looming, the agile companies find a way to survive.”
You can find the interactive piece here: https://invezz.com/news/2020/09/03/top-11-industries-that-were-positively-affected-by-covid-19/