The DropShipping market is booming. Over the next five years, it is expected to reach a value of $557.9 billion with a compound annual growth rate (CAGR) of 28.8%.
Knowing the right products to take to market is crucial for a blossoming DropShipping business. While you have less risk since you won’t need to purchase products upfront, knowing the market and selling accordingly is wise.
A good place to start is to use Google Trends to see what’s on the horizon so you can prepare when a potential buying boom lands. We’ve researched what’s out there and included some insight to help you decide on which products to include in your inventory.
Mobile Phones and Accessories
With the introduction of new mobile phones and tablets regularly through the year, the mobile phone and accessory industry is an excellent source of recurring revenue. People love their tech devices and the accessories that give them a personalised touch.
In 2019, this market was worth a whopping $81.4 billion. According to market research, the mobile phone and accessory market is expected to nearly double at a CAGR of 6.3% over the next nine years.
Toys and Hobbies
There’s no denying that people love their hobbies. Whether it is bujo journaling or cycling, consumers will spend an astounding amount of money for the bits and pieces that bring their hobbies together.
By the end of 2026, the toy and hobby market is expected to be valued at $74 billion. Over the next five years, this corner of the market is projected to grow up to 3.72% CAGR.
As ‘connected world’ ideology continues to grow alongside the ‘smart home’ movement, the electronics industry should continue to blossom. Popular with business and personal buyers, a steady stream of new electronics products can help you build a loyal customer base, ready to return to purchase from you when their next need arises.
Last year, with COVID’s impact on digital connectivity’s popularity, the electronics market had an estimated value of $1 trillion. Over the next six years, this market is projected to grow at a CAGR of more than 8%.
Computer and Networking
We live in an increasingly digital world. With the boom in mining bitcoin and the demand for connected devices, computer and networking components are seeing an exponential rise in demand.
The 2021 projection for the computer and networking market is a value of $7850.57 billion, growing at a 6.6% CAGR. The growth rate is expected to continue with a 9% CAGR likely going into 2025.
Sports, Outdoor and Health
Highly popular before the pandemic but increasingly so afterwards, the sports, outdoor and health industries are at an all-time high. From electric toothbrushes and eco-friendly yoga mats to vegan health products, the market is skyrocketing.
The global sports nutrition market alone was valued at $24.25 billion in 2020 and is projected to grow at a CAGR of 102% over the next five years to $47.92 billion. Additionally, the global market for sporting goods and equipment was valued at $49.35 billion in 2020, and it is projected to reach $83.86 billion by 2026, with a CAGR of 9.23%.
Automobile and Motorbike
Consumers love their cars, motorcycles and everything surrounding their maintenance as well as accessories to keep them looking fresh and at their best. From toolsets to detailing products, the automobile and motorbike industry popularity continues to climb.
The automobile and motorbike industry reported a value of $75.31 billion in 2018 and is expected to grow at a CAGR of 1.8% through 2025.
Working with Armaan Resales
Our team of DropShipping experts is committed to helping you build a long-term, successful business. To keep up with the ever-changing demands of consumers in the world of online shopping, we have deep partnerships with our suppliers – this lets us offer over 25 million products.
Create the lifestyle you desire with the freedom you deserve. DropShipping can be a side hustle for extra cash, allow you to move away from the corporate rat race for a better work/life balance or secure your retirement with an easy-to-run business you can pass onto your children.
Contact Armaan Resales to get started on your DropShipping journey today.