Finding Your Niche: 8 Niche Market Examples
Ever hear the expression, jack of all trades, master of none? It essentially means that a generalist can do everything decently, while a specialist does one thing extremely well. The same holds true when you’re selling online.
Carving out a niche market and positioning yourself as the go-to brand for a specific audience not only establishes your credibility over competing generalists but also results in a more focused business, from your unique value proposition to your content marketing, that makes it easier for the right customers to say, "This is for me."
If you’re racking your brain trying to think of your first product idea, starting with a niche is a great place to begin. There are countless niches you can pursue, with the opportunity to niche down even further. The key is to identify a niche market that you can master and has a viable audience of customers.
Below, we’ll go over what a niche market is, how to identify one and find in-demand products to serve it, plus eight niche market examples (including niche product ideas) that are ripe for new players.
Table of Contents
1. What Is A Niche Market?
2. Eight Niche Market Examples
3. How To Find A Niche Market
4. How To Evaluate A Niche Market
5. Moving Forward With Your Idea
A definition: What exactly is a niche market?
A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large.
For example, within the market for women’s shoes are many different segments or niches. Shoes for vegan women would be a niche market, as would shoes for plus-sized women, shoes for nurses, and shoes for transgendered people. These are all niche markets within the larger market for women’s shoes.
Nearly every market can be further refined, or divided, by the particular needs and preferences of its constituents. Some of the most common ways to define a niche are based on:
Price (e.g. luxury, moderate, discount)
Demographics (gender, age, income level, education level)
Level of quality (premium, handmade, economical)
Psychographics (values, interests, attitudes)
Geographics (residents of a certain country, city, or even neighborhood)
Choosing to focus on a niche is a strategic business decision to serve a certain customer base better than competitors who target the larger market.
Let's take a look at some examples.
8 niche market examples (and niche products you can sell)
While you might have specific trending product ideas already in mind, you can increase your odds of success by starting with a niche market and then drilling down to find niche products with a possible market-fit. Here, we’ll explore eight larger markets to show you how they each contain their own niche markets and product opportunities.
Keep in mind this list of niches and product ideas for 2019 is simply a place to start your search for a niche market—you can always go in a completely different direction or find other niche opportunities within each category.
1. Conscious Consumers
Sustainability has become a hot topic among consumers of late. According to a survey by Neilson, 48% of U.S. consumers say they would “definitely” or “probably change” their consumption habits to reduce their impact on the environment.
The rise of the conscious consumer has paved the way for vegan, eco-friendly, and cruelty-free variations of conventional products. If there is a product that is frequently purchased by the mass market, there is likely a niche of conscious consumers that will embrace a greener alternative.
In the past, companies looking to appeal to this niche market might donate a portion of proceeds to a cause, but now most consumers care about how the products are sourced and produced as well.
Bee’s Wrap, for example, is looking to replace plastic wrap with options made from beeswax. The natural alternative to food storage is not only environmentally friendly, but also more cost-effective for consumers because they’re reusable.
More niche product ideas for conscious consumers
Reusable drinking straws
2. Pet Owners
Total expenditures for the pet industry in the U.S. alone is an estimated $75.38 billion in 2019. There’s a lot of opportunities to develop a niche within this market, across different types of pets, lifestyles, and more.
Patricia’s Couture has carved its own niche in this market—they sell personalized kaftans, pillows, pajamas, blankets, and other items you can plaster your beloved pet’s picture on.
While most people own fish, dogs, or cats, there are also unique pets like horses, lizards, turtles, and even chickens, each with their own potential opportunities.
More niche product ideas for pet owners
Pet cameras to watch and interact with pets while you’re not at home
GPS pet trackers
Personalized products with pets’ photos
Organic pet food and treats
Pet accessories and clothing