Written by Deepak Sah                                                                               July 10, 2021

We all know how COVID 19 has created a job crisis in the country and impacted our health and economy as well. Let's not sugar coat and let's accept the fact that covid-19 has disturbed all businesses as a whole. Many became jobless because the maximum company reduced their workforce and many startups failed due to lack of support. In pandemic, there is less demand and supply which resulted in the failure of many business Ideas because COVID 19 came out of the syllabus.No one was prepared for this pandemic and the result we all have seen.

Now as the vaccination rolls out in India, lives and the economy are slowly coming back on track. After the introduction of Budget 2021, the Indian stock market is booming.The stock market jumped more than 9% in a week and Nifty also reached the level of 15 thousand. Experts are making predictions about the market growth and about the industries which are going to boom in 2022. People are curious about which sectors they can keep their eyes on. As per the expert's healthcare and IT sectors are going to dominate the market. There are some other sectors that can boom in 2022.

The top Five sectors to keep eyes on are 

• Healthcare sector

• IT sector

• Automobile sector

• Agriculture sector

• Cloud Kitchen

Healthcare sector: The healthcare industry consists of hospitals, pharmacies,medical equipment, medical devices and medical insurances. The health care sector is growing at a rapid pace. The market size is $193.83 billion and expected to reach $ 372 billion by 2022. The factors contributing to the growth of the healthcare sector are

• Increase in the income of people

• Increase in health awareness

• Increase in government spending

• Increase in access to life insurance and many more

The hospital industry contributes around 80% of the total healthcare sector and it is growing with a CAGR of 16-17% . Medical tourism is also growing at a good pace and is expected to reach $8-9 billion by 2022. The diagnostics industry almost contributes 25% in this segment. Health insurance also contributes around 15% to this segment. We all know India is the largest producer of generic medicine. The best part about generic medicine is that it breaks the affordability barrier and easily is affordable and this is the reason many doctors suggest generic medicine in India. You will be surprised to know that generic drugs contribute 71% market share in the pharmaceutical industry. Strong drug manufacturing and strong domestic demand are the growth drivers.

Recently our Finance Minister allocated around 64,180 crores in the next 6 years to strengthen the healthcare sector in the Budget. The plan is to open new healthcare institutions and to support the existing healthcare institutes. The government also announced an expenditure of 35000 crores for the COVID19 vaccine in 2021-2022. This will directly help the vaccine manufacturers in India.

There are lots of franchise opportunities available in this sector like

• Diagnostics centre franchise business

• Pharmacy franchise business

• Generic medicines franchise business

• Medical equipment franchise business

IT sector: It is growing at a tremendous pace and it is the largest employer in the private sector. India is transforming into a Digital hub and is becoming the second digital economy after China. During the pandemic, IT sector worked as a saviour in the global pandemics.It helped in any ways from taking classrooms online to setting office at home ( Work from Home ). It contributes around 8% to the national GDP.

Growth factors 

1.Increase in the number of internet users : As per the report in October 2020, the number of internet users in the world reached 59% of the total population of the world and the number in 1995 was only 1% of the total population of the world.

2.Increase in the number of mobile users: COVID 19 crisis also contributed to the increase in the number of mobile users because due to the pandemic everything went online. As per the data, there are 4.14 billion mobile users in the world

3.Change in Consumer behaviour : High-speed internet and social distancing changed consumer behaviour. Now people are preferring virtual transactions over physical transactions.

Now the IT sector is focusing in two segments 

1. Cloud-based foundations, which is expected to grow at a CAGR of 16% from 2021-2025

2. Development of Ancillary technologies ( AI, Robotics,5G etc) which is expected to grow at a CAFR of 35%-45% from 2021-2025

There are lots of franchise opportunities available in this sector like

• Digital marketing franchise business

• Ancillary technologies franchise business

• Cloud-based franchise business and many more

Automobile sector: The automobile sector also started growing at a good pace after the COVID19 challenge. India is the second-largest market of two-wheeler manufacturing after China. The market unit sales of two-wheeler in India was around 21.2 million and expected to reach 26.6 million by 2025. The reason for the increase in sales of two-wheelers in India is poor public transport facilities in many parts of the country and two-wheelers provide great comfort and mobility to Indian families. We all know the automotive industry is the backbone of the Indian economy. It contributes more than 7% in India’s GDP and it is one of the biggest job creators in the country. India's electric vehicle (EV) market is estimated to be a Rs. 50,000 crore (US$ 7.09 billion) opportunity by 2025, with two- and three-wheelers expected to drive higher electrification of the vehicles.

Growth factors :

• Scrap policy will help the Auto sector to boom in 2022

• India is planning to be a leader in shared mobility vehicles which is a great opportunity for electric vehicle manufacturers.

• Electric vehicles can generate 5 core job opportunities in India.

• FDI inflow in the automobile sector

• The Automotive Mission plan by the government is helping in the growth of the Industry. 

There are lots of franchise opportunities available in this sector like

• Dealer and distributors franchise business

• Automobile service franchise business

• Spare parts franchise business 

• Automobile washing franchise business

Agriculture sector : Agriculture is considered the backbone of the Indian economy. The contribution of the agricultural sector raised from 17.8% ( 2019-2020) to 19.9 % ( 2020-2021) in India’s GDP . After 17 years the share of the agriculture sector in Indian GDP is around 20%. The Indian food processing industry contributes around 32% of the total food market. India is among the 15 leading exporters of agricultural products to different parts of the world. India is planning to double the farm income by 2022.

Growth factors 

• Increase in income of urban and rural people

• Increase in external demand results in an increase in the export of agricultural products

• Increased demand for hybrid seeds and fertilizers will result in the growth of the agricultural sector

• Heavy investment in agricultural infrastructure ( irrigation facilities, warehousing and cold storage )by the government.

• Government incentives and benefits programmes are helping the agricultural sector to boom.

There are lots of franchise opportunities available in this sector like

• Agriculture equipment franchise business

• Seeds and pesticides franchise business

• Organic store franchise business

• Agriculture finance franchise business and many more

The food tech sector ( Cloud kitchens): COVID19 has affected the food and beverages sector very badly, Many businesses came to an end and many were about to close. Then Cloud Kitchen came as a new trend. Now people don’t go to the food, food comes to them. As per the data, there will be the growth of food deliveries in the coming 5 years and as a result, many people are opting for cloud kitchens As per the data Cloud kitchens are going to dominate India’s food -tech industry. The number of cloud kitchens in India is going to increase at a rate of 50-60% . The market size of cloud kitchen in 2019 was $ 400 million in 2019 and now it is expected to reach around $ 3 billion industry by 2024.

Growth factors

• Increase in disposable income of people

• Now the number of working women has also increased as a result more foods are ordered online in comparison to past years

• New eating habits. People want to try new varieties which helps in the growth of cloud kitchens in India.

• High-speed internet and social distancing change consumer behaviour. Now customers don't go to food, food comes to them.

There are lots of franchise opportunities available in these sectors and if you are planning to invest in any of these sectors through franchise business you can visit Franchisebazar and you can select from listed brands from the website as per your sector plan. You can also clear your doubts from experts.