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WWW.IBISWORLD.COM                                                                     Special Report April 2012   1



                                                                                     Special Report
Top 10 Fastest-Growing Industries                                                        April 2012




Top 10 Fastest-
Growing Industries
By Lauren Setar  Matthew MacFarland




With environmentally friendly practices or technological advances,
these industries are outpacing the economic recovery.

                     Across the United States, industries,        revenue growth of 32.3% from 2002 to
Consumer             businesses and consumers are climbing        2012, including expected growth of 9.4%
concerns about       out of the Great Recession’s lows. US        in 2012. As the federal government looks
                     gross domestic product is forecast to        to reduce the United States’ dependency
health and the       grow 3.3% per year over the next five        on fossil and other non-renewable fuels,
environment          years, a welcome change from the             green energy firms have reaped the
bode well for        meager growth of 0.6% per year               benefit of substantial subsidies. Without
                     between 2007 and 2012. Some                  assistance, solar power generation firms
some industries      industries, however, aren’t just             would have little chance against
                     recovering – they’re flourishing.            entrenched, traditional fuel sources.
                        IBISWorld has compiled a list of          Moreover, falling silicon prices have
                     these standout industries based on           allowed US firms to compete with
                     their contributions to the economy as a      low-cost manufacturers abroad. Over the
                     whole (measured as industry value            next five years, revenue for the Solar
                     added), absolute revenue growth and          Panel Manufacturing industry is expected
                     establishment growth over the past 10        to continue expanding at an average rate
                     years, as well as performance expected       of 8.2% per year.
                     through 2017. Whether by focusing on            The construction industries were early
                     environmentally friendly practices and       victims of the Great Recession, but the
                     operations or benefiting from                Green and Sustainable Building
                     technological advances, these                Construction industry capitalized on the
                     industries are expected to continue          green movement and weathered the
                     their meteoric rise and far outpace the      downturn well. Since 2002, industry
                     rest of the economy.                         revenue has experienced annualized
                                                                  growth of 28.9% and anticipated 18.3%
                     Thinking green                               growth in 2012. Firms in the industry
                     Over the past decade, the dramatic rise in   construct energy-efficient buildings that
                     energy costs and an increasingly vocal,      are often largely composed of sustainable
                     environmentally conscious public have        materials. Aided by local and state
                     led to the growth of green industries. The   building codes that promote the use of
                     Solar Panel Manufacturing industry has       energy-efficient building design and
                     been at the forefront of the green           materials, demand for green construction
                     industrial movement with average annual      has skyrocketed. Government programs



    www.ibisworld.com  |  1-800-330-3772  |  info @ibisworld.com
WWW.IBISWORLD.COM                                                                                             Special Report April 2012   2




Top 10 Fastest-Growing Industries


                                  like Leadership in Energy and                        With the dangers of tanning beds
                                  Environmental Design (LEED) and                      foremost in many consumers’ minds – a
                                  Energy Star have also driven demand                  study by the National Cancer Institute
                                  forward. Over the five years to 2017,                found that tanning lamps and beds can
                                  revenue for the Green and Sustainable                more than double the risk of skin cancer
                                  Building industry is expected to grow at             – self-tanning products have become
                                  an average annual rate of 22.8%.                     more popular. Heightened interest in
                                                                                       such products has led to more
                                  Taking care                                          innovation. Today’s offerings produce a
                                  Along with their heightened concern for              more natural tan for a wider range of skin
                                  the environment, Americans are                       tones. In 2012, revenue for the Self-
                                  increasingly seeking ways to become and              Tanning Product Manufacturing industry
                                  stay healthy. Consumer awareness of the              is expected to grow 18.1%, with average
                                  harmful effects of UV ray exposure and               annual growth of 10.7% projected over
                                  the prevalence of skin cancer has led to             the next five years.
                                  the rapid emergence of the Self-Tanning                 Consumers are also seeking alternative
                                  Product Manufacturing industry, which                ways to stay fit. The Pilates and Yoga
                                  has experienced average annual revenue               Studios industry provides health-minded
                                  growth of 22.7% per year since 2002.                 Americans with conditioning routines


ForecastIndustryRevenue
                              2012        2013        2014        2015        2016          2017
Industry                      ($m)        ($m)        ($m)        ($m)        ($m)          ($m)      MajorIndustryPlayers
                                                                                                      Teva Pharmaceutical Industries Ltd.
Generic Pharmaceutical                                                                                Watson Pharmaceuticals Inc.
                            52,785.2    56,959.4    61,683.9    65,877.3    69,458.5      72,682.2
Manufacturing                                                                                         Sandoz Ltd.
                                                                                                      Mylan Inc.
Solar Panel Manufacturing    4,610.5     5,029.7     5,563.8     5,901.5     6,578.0       6,827.5    SunPower Inc.
                                                                                                      Apollo Group Inc.
For-Profit Universities     27,019.6    28,326.2    29,601.2    30,451.3    31,286.9      32,225.0    DeVry Inc.
                                                                                                      Career Education Corporation
Pilates  Yoga Studios       6,853.3     7,170.6     7,538.4     7,962.5     8,319.4       8,643.8    No Major Players
Self-Tanning Product
                             609.3       688.3       775.3       858.3       940.6         10,10.7    Kao Brands Company
Manufacturing
                                                                                                      3D Systems Corporation
3D Printer Manufacturing     1,698.5     2,019.7     2,323.4     2,656.3     2,956.2       3,265.2    Stratasys Inc.
                                                                                                      Z Corporation
                                                                                                      Zynga Inc.
Social Network
                             4,548.3     6,000.0     7,920       9,820.8    11,293.9      12,310.4    Electronic Arts Inc.
Game Development
                                                                                                      The Walt Disney Company
                                                                                                      McIlhenny Company
Hot Sauce Production         1,077.4     1,139.5     1,198.2     1,213.5     1,273.1       1,318.6
                                                                                                      Reckitt Benckiser PLC
Green  Sustainable
                            103,052.2   124,693.1   156,115.7   199,359.8   245,411.8     287,867.9   The Turner Corporation
Building Construction
                                                                                                      1-800-Contacts.com
Online Eyeglasses 
                             347.7       390.7       428.1       464.1       491.9          530.3     Walgreen Company
Contact Lens Sales
                                                                                                      Coastal Contacts Inc.

                                                                                                                  SOURCE: WWW.IBISWORLD.COM
WWW.IBISWORLD.COM                                                                                Special Report April 2012   3




Top 10 Fastest-Growing Industries


                     focused on building strength and
                     flexibility. From 2002 to 2012, the                 Forecast Revenue Growth
                     industry grew an average of 12.1% per
                                                                               35
                     year and is projected to expand 5.1% in
                     2012. Pilates and yoga studios were                       30

                     highly resistant to the recession; instead                25
                     of facing negative growth in 2008 and




                                                                  % change
                                                                               20
                     2009, revenue merely slowed. In the five
                                                                               15
                     years to 2017, industry revenue is
                     expected to grow at an average annual                     10
                     rate of 4.8%.                                              5

                                                                                0
                     Emerging technologies                                   Year 12      13      14        15       16      17
                     The accelerating speed and accessibility                 Green  Sustainable Building Construction
                     of the internet has led to skyrocketing                  Social Network Game Development
                     growth for web-based industries. Over                    3D Printer Manufacturing
                     the past five years, social networks, in                 Self-Tanning Product Manufacturing
                     particular, have become an integral part                 Online Eyeglasses  Contact Lens Sales
                                                                              Solar Panel Manufacturing
                     of life for many consumers, connecting
                                                                              Generic Pharmaceutical Manufacturing
                     them with others and helping them find a                 Pilates  Yoga Studios
                     cheap alternative source of                              Hot Sauce Production
                     entertainment. The Social Network Game                   For-Profit Universities
                     Development industry owes its existence                                           SOURCE: WWW.IBISWORLD.COM

                     to these needs, and as sites like Facebook
                     have grown exponentially, so too have        revenue in the Online Eyeglasses and
                     social network game developers: Since        Contact Lens Sales industry has grown
                     2002, this industry grew an average          28.2% on average annually; in 2012,
                     annual 128.0% The industry’s games are       revenue is expected to grow 11.9%. New
                     usually free to play; developers earn        technologies, such as virtual try-on
                     revenue through the sale of virtual goods    systems in which shoppers upload a
                     that enhance game-play and through           picture to see how frames look on their
                     advertisements shown onscreen. Unlike        faces before ordering a pair, have made
                     most of the economy, the recession was a     customers more confident in their online
                     boon for the industry because under- or      purchases. Over the next five years,
                     unemployed consumers spent extra             industry revenue is expected to grow
                     leisure time with these low-cost games       8.8% per year on average.
                     rather than with expensive console games        Rapid technological advances, falling
                     or software. In 2012, industry revenue is    costs and a greater need for new medical
                     expected to grow 20.0%, and over the         devices have led to the growing presence
                     next five years, revenue is projected to     of 3D printing, a process in which
                     grow at an average annual rate of 22.0%.     successive layers of material are laid
                        As the speed and security of online       down until the product is finished. 3D
                     monetary transactions grow, online retail    printers allow the manufacturer to create
                     for more products will become                something from precise schematics in a
                     commonplace. Eyeglasses and contacts         single build process. The 3D Printer
                     are increasingly being sold through          Manufacturing industry’s revenue has
                     online stores thanks to the higher           grown an average of 8.8% per year since
                     prevalence of broadband internet in          2002, with 20.3% growth expected in
                     households. Between 2002 and 2012,           2012 alone. As the cost of producing
WWW.IBISWORLD.COM                                                                                Special Report April 2012   4




Top 10 Fastest-Growing Industries


                               these high-tech machines decreases and        with average annual revenue growth of
 About IBISWorld Inc.          printer technology is refined, they will be   9.6%. As the median age of the US
 Recognized as the nation’s    used for an increasing number of              population increases, more consumers
 most trusted independent      applications, such as aerospace-related       require a greater amount of prescription
 source of industry and        part manufacturing. With the rapid pace       drugs. Generic drugs are sold without
 market research, IBISWorld    of innovation already present in the          patent protection and tend to be cheaper
 offers a comprehensive        industry, double-digit annualized growth      than brand-name drugs, making them
 database of unique            (14.0%) is projected to continue into the     more attractive in the face of rising
 information and analysis on   next five years.                              overall healthcare costs. Many industry
 every US industry. With an                                                  operators have closed inefficient plants
 extensive online portfolio,   Other upstarts                                and removed redundant sales positions
 valued for its depth and      In 2012, the For-Profit Universities          to cut costs, expanding profit margins.
 scope, the company equips     industry’s revenue is projected to grow       However, as more consumers qualify for
 clients with the insight      5.0%, and over the next five years,           private insurance, insurance providers
 necessary to make better      revenue will grow an estimated 3.6% per       will gain more leverage to negotiate
 business decisions.           year on average. As more and more high        lower drug prices, which could reduce
 Headquartered in              school students seek a college education      the industry’s profit margins. Still,
 Los Angeles, IBISWorld        after graduating, gaining admission to        revenue is expected to continue rising,
 serves a range of business,   traditional public and private universities   with 8.1% growth expected in 2012 and
 professional service and      has become more difficult. At the same        average annual growth of 6.3%
 government organizations      time, state budget cuts have shortened        projected through 2017.
 through more than             the resources these institutions can use to      The Hot Sauce Production industry
 10 locations worldwide.       cope with the influx of students. Stepping    has heated up over the past 10 years, with
 For more information, visit   in to alleviate the heightened demand for     average revenue growth of 9.3% per year
 www.ibisworld.com or call     higher education, for-profit universities     and expected 2012 growth of 4.5%. While
 1-800-330-3772.               have become a common sight in                 the recession did cool the industry’s
                               education in the United States; since         prospects, rebounds in 2010 and 2011
                               2002, the For-Profit Universities industry    reestablished it as a rapidly growing part
                               grew an average of 13.6% annually.            of the food sector. Demand for hot sauce
                               Classes taught at for-profit universities     has been driven by demographic
                               are often accessed through alternative        consumption trends, immigration and
                               means to the classroom, such as through       international demand from Canada, the
                               TV programming or the internet. The low       United Kingdom and Japan. As
                               cost of teaching online classes has been      Americans’ palates have become more
                               particularly essential to the rapid growth    diverse, hot sauce has earned tenure on
                               of these institutions. Moreover, with the     the dinner table. Demand from
                               high unemployment caused by the               supermarkets and grocery stores has
                               recession, workers and high school            reflected the change in consumer taste,
                               graduates without a job chose to continue     and food retailers are dedicating more
 Contact:                      their education rather than combing the       shelf space to ethnic cuisine. Ethnic
 Savannah Haspel               job market. Independent of state budgets      supermarkets – also growing rapidly –
 VP, Public Relations          and able to avoid the high tuition costs of   more prominently offer a variety of hot
 IBISWorld                     private schools, for-profit schools grow      sauces than more traditional stores. Hot
                               by selling shares to investors.               sauce production isn’t expected to burn
 Phone: 1-310-866-5044            The Generic Pharmaceutical                 out any time soon: Over the next five
 savannahh@ibisworld.com       Manufacturing industry has found              years, industry revenue is projected to
 www.ibisworld.com             sustained growth over the past 10 years,      grow at an average annual rate of 4.1%.
www.ibisworld.com  |  1-800-330-3772  |  info @ibisworld.com

At IBISWorld we know that industry intelligence
is more than assembling facts. It is combining
Key External Drivers
continued
data with analysis to answer the questions that
successful businesses ask.
Identify high growth, emerging and shrinking markets
Arm yourself with the latest industry intelligence
Assess competitive threats from existing and new entrants
Benchmark your performance against the competition
Make speedy market-ready, profit-maximizing decisions



                                                      Who is IBISWorld?
                                                      We are strategists, analysts, researchers and marketers. We provide
                                                      answers to information-hungry, time-poor businesses. Our goal is to give
                                                      you the real-world answers that matter to your business in our 700 US
                                                      industry reports. When tough strategic, budget, sales and marketing
                                                      decisions need to be made, our suite of Industry and Risk intelligence
                                                      products give you deeply researched answers quickly.

                                                      IBISWorld Membership
                                                      IBISWorld offers tailored membership packages to meet your needs.
                                                      Join and become an industry expert!




Disclaimer
This product has been supplied by IBISWorld Inc. (‘IBISWorld’) solely for use     of, or reliance upon, the data or information contained herein. Copyright in
by its authorized licenses strictly in accordance with their license agreements   this publication is owned by IBISWorld Inc. The publication is sold on the
with IBISWorld. IBISWorld makes no representation to any other person             basis that the purchaser agrees not to copy the material contained within it
with regard to the completeness or accuracy of the data or information            for other than the purchasers own purposes. In the event that the purchaser
contained herein, and it accepts no responsibility and disclaims all liability    uses or quotes from the material in this publication – in papers, reports, or
(save for liability which cannot be lawfully disclaimed) for loss or damage       opinions prepared for any other person – it is agreed that it will be sourced
whatsoever suffered or incurred by any other person resulting from the use        to: IBISWorld Inc.

                                                                                                                           © Copyright 2012. IBISWorld Inc.

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IBISWorld 2012 Fastest Growing Industries

  • 1. WWW.IBISWORLD.COM Special Report April 2012   1 Special Report Top 10 Fastest-Growing Industries April 2012 Top 10 Fastest- Growing Industries By Lauren Setar Matthew MacFarland With environmentally friendly practices or technological advances, these industries are outpacing the economic recovery. Across the United States, industries, revenue growth of 32.3% from 2002 to Consumer businesses and consumers are climbing 2012, including expected growth of 9.4% concerns about out of the Great Recession’s lows. US in 2012. As the federal government looks gross domestic product is forecast to to reduce the United States’ dependency health and the grow 3.3% per year over the next five on fossil and other non-renewable fuels, environment years, a welcome change from the green energy firms have reaped the bode well for meager growth of 0.6% per year benefit of substantial subsidies. Without between 2007 and 2012. Some assistance, solar power generation firms some industries industries, however, aren’t just would have little chance against recovering – they’re flourishing. entrenched, traditional fuel sources. IBISWorld has compiled a list of Moreover, falling silicon prices have these standout industries based on allowed US firms to compete with their contributions to the economy as a low-cost manufacturers abroad. Over the whole (measured as industry value next five years, revenue for the Solar added), absolute revenue growth and Panel Manufacturing industry is expected establishment growth over the past 10 to continue expanding at an average rate years, as well as performance expected of 8.2% per year. through 2017. Whether by focusing on The construction industries were early environmentally friendly practices and victims of the Great Recession, but the operations or benefiting from Green and Sustainable Building technological advances, these Construction industry capitalized on the industries are expected to continue green movement and weathered the their meteoric rise and far outpace the downturn well. Since 2002, industry rest of the economy. revenue has experienced annualized growth of 28.9% and anticipated 18.3% Thinking green growth in 2012. Firms in the industry Over the past decade, the dramatic rise in construct energy-efficient buildings that energy costs and an increasingly vocal, are often largely composed of sustainable environmentally conscious public have materials. Aided by local and state led to the growth of green industries. The building codes that promote the use of Solar Panel Manufacturing industry has energy-efficient building design and been at the forefront of the green materials, demand for green construction industrial movement with average annual has skyrocketed. Government programs www.ibisworld.com | 1-800-330-3772 | info @ibisworld.com
  • 2. WWW.IBISWORLD.COM Special Report April 2012   2 Top 10 Fastest-Growing Industries like Leadership in Energy and With the dangers of tanning beds Environmental Design (LEED) and foremost in many consumers’ minds – a Energy Star have also driven demand study by the National Cancer Institute forward. Over the five years to 2017, found that tanning lamps and beds can revenue for the Green and Sustainable more than double the risk of skin cancer Building industry is expected to grow at – self-tanning products have become an average annual rate of 22.8%. more popular. Heightened interest in such products has led to more Taking care innovation. Today’s offerings produce a Along with their heightened concern for more natural tan for a wider range of skin the environment, Americans are tones. In 2012, revenue for the Self- increasingly seeking ways to become and Tanning Product Manufacturing industry stay healthy. Consumer awareness of the is expected to grow 18.1%, with average harmful effects of UV ray exposure and annual growth of 10.7% projected over the prevalence of skin cancer has led to the next five years. the rapid emergence of the Self-Tanning Consumers are also seeking alternative Product Manufacturing industry, which ways to stay fit. The Pilates and Yoga has experienced average annual revenue Studios industry provides health-minded growth of 22.7% per year since 2002. Americans with conditioning routines ForecastIndustryRevenue 2012 2013 2014 2015 2016 2017 Industry ($m) ($m) ($m) ($m) ($m) ($m) MajorIndustryPlayers Teva Pharmaceutical Industries Ltd. Generic Pharmaceutical Watson Pharmaceuticals Inc. 52,785.2 56,959.4 61,683.9 65,877.3 69,458.5 72,682.2 Manufacturing Sandoz Ltd. Mylan Inc. Solar Panel Manufacturing 4,610.5 5,029.7 5,563.8 5,901.5 6,578.0 6,827.5 SunPower Inc. Apollo Group Inc. For-Profit Universities 27,019.6 28,326.2 29,601.2 30,451.3 31,286.9 32,225.0 DeVry Inc. Career Education Corporation Pilates Yoga Studios 6,853.3 7,170.6 7,538.4 7,962.5 8,319.4 8,643.8 No Major Players Self-Tanning Product 609.3 688.3 775.3 858.3 940.6 10,10.7 Kao Brands Company Manufacturing 3D Systems Corporation 3D Printer Manufacturing 1,698.5 2,019.7 2,323.4 2,656.3 2,956.2 3,265.2 Stratasys Inc. Z Corporation Zynga Inc. Social Network 4,548.3 6,000.0 7,920 9,820.8 11,293.9 12,310.4 Electronic Arts Inc. Game Development The Walt Disney Company McIlhenny Company Hot Sauce Production 1,077.4 1,139.5 1,198.2 1,213.5 1,273.1 1,318.6 Reckitt Benckiser PLC Green Sustainable 103,052.2 124,693.1 156,115.7 199,359.8 245,411.8 287,867.9 The Turner Corporation Building Construction 1-800-Contacts.com Online Eyeglasses 347.7 390.7 428.1 464.1 491.9 530.3 Walgreen Company Contact Lens Sales Coastal Contacts Inc. SOURCE: WWW.IBISWORLD.COM
  • 3. WWW.IBISWORLD.COM Special Report April 2012   3 Top 10 Fastest-Growing Industries focused on building strength and flexibility. From 2002 to 2012, the Forecast Revenue Growth industry grew an average of 12.1% per 35 year and is projected to expand 5.1% in 2012. Pilates and yoga studios were 30 highly resistant to the recession; instead 25 of facing negative growth in 2008 and % change 20 2009, revenue merely slowed. In the five 15 years to 2017, industry revenue is expected to grow at an average annual 10 rate of 4.8%. 5 0 Emerging technologies Year 12 13 14 15 16 17 The accelerating speed and accessibility Green Sustainable Building Construction of the internet has led to skyrocketing Social Network Game Development growth for web-based industries. Over 3D Printer Manufacturing the past five years, social networks, in Self-Tanning Product Manufacturing particular, have become an integral part Online Eyeglasses Contact Lens Sales Solar Panel Manufacturing of life for many consumers, connecting Generic Pharmaceutical Manufacturing them with others and helping them find a Pilates Yoga Studios cheap alternative source of Hot Sauce Production entertainment. The Social Network Game For-Profit Universities Development industry owes its existence SOURCE: WWW.IBISWORLD.COM to these needs, and as sites like Facebook have grown exponentially, so too have revenue in the Online Eyeglasses and social network game developers: Since Contact Lens Sales industry has grown 2002, this industry grew an average 28.2% on average annually; in 2012, annual 128.0% The industry’s games are revenue is expected to grow 11.9%. New usually free to play; developers earn technologies, such as virtual try-on revenue through the sale of virtual goods systems in which shoppers upload a that enhance game-play and through picture to see how frames look on their advertisements shown onscreen. Unlike faces before ordering a pair, have made most of the economy, the recession was a customers more confident in their online boon for the industry because under- or purchases. Over the next five years, unemployed consumers spent extra industry revenue is expected to grow leisure time with these low-cost games 8.8% per year on average. rather than with expensive console games Rapid technological advances, falling or software. In 2012, industry revenue is costs and a greater need for new medical expected to grow 20.0%, and over the devices have led to the growing presence next five years, revenue is projected to of 3D printing, a process in which grow at an average annual rate of 22.0%. successive layers of material are laid As the speed and security of online down until the product is finished. 3D monetary transactions grow, online retail printers allow the manufacturer to create for more products will become something from precise schematics in a commonplace. Eyeglasses and contacts single build process. The 3D Printer are increasingly being sold through Manufacturing industry’s revenue has online stores thanks to the higher grown an average of 8.8% per year since prevalence of broadband internet in 2002, with 20.3% growth expected in households. Between 2002 and 2012, 2012 alone. As the cost of producing
  • 4. WWW.IBISWORLD.COM Special Report April 2012   4 Top 10 Fastest-Growing Industries these high-tech machines decreases and with average annual revenue growth of About IBISWorld Inc. printer technology is refined, they will be 9.6%. As the median age of the US Recognized as the nation’s used for an increasing number of population increases, more consumers most trusted independent applications, such as aerospace-related require a greater amount of prescription source of industry and part manufacturing. With the rapid pace drugs. Generic drugs are sold without market research, IBISWorld of innovation already present in the patent protection and tend to be cheaper offers a comprehensive industry, double-digit annualized growth than brand-name drugs, making them database of unique (14.0%) is projected to continue into the more attractive in the face of rising information and analysis on next five years. overall healthcare costs. Many industry every US industry. With an operators have closed inefficient plants extensive online portfolio, Other upstarts and removed redundant sales positions valued for its depth and In 2012, the For-Profit Universities to cut costs, expanding profit margins. scope, the company equips industry’s revenue is projected to grow However, as more consumers qualify for clients with the insight 5.0%, and over the next five years, private insurance, insurance providers necessary to make better revenue will grow an estimated 3.6% per will gain more leverage to negotiate business decisions. year on average. As more and more high lower drug prices, which could reduce Headquartered in school students seek a college education the industry’s profit margins. Still, Los Angeles, IBISWorld after graduating, gaining admission to revenue is expected to continue rising, serves a range of business, traditional public and private universities with 8.1% growth expected in 2012 and professional service and has become more difficult. At the same average annual growth of 6.3% government organizations time, state budget cuts have shortened projected through 2017. through more than the resources these institutions can use to The Hot Sauce Production industry 10 locations worldwide. cope with the influx of students. Stepping has heated up over the past 10 years, with For more information, visit in to alleviate the heightened demand for average revenue growth of 9.3% per year www.ibisworld.com or call higher education, for-profit universities and expected 2012 growth of 4.5%. While 1-800-330-3772. have become a common sight in the recession did cool the industry’s education in the United States; since prospects, rebounds in 2010 and 2011 2002, the For-Profit Universities industry reestablished it as a rapidly growing part grew an average of 13.6% annually. of the food sector. Demand for hot sauce Classes taught at for-profit universities has been driven by demographic are often accessed through alternative consumption trends, immigration and means to the classroom, such as through international demand from Canada, the TV programming or the internet. The low United Kingdom and Japan. As cost of teaching online classes has been Americans’ palates have become more particularly essential to the rapid growth diverse, hot sauce has earned tenure on of these institutions. Moreover, with the the dinner table. Demand from high unemployment caused by the supermarkets and grocery stores has recession, workers and high school reflected the change in consumer taste, graduates without a job chose to continue and food retailers are dedicating more Contact: their education rather than combing the shelf space to ethnic cuisine. Ethnic Savannah Haspel job market. Independent of state budgets supermarkets – also growing rapidly – VP, Public Relations and able to avoid the high tuition costs of more prominently offer a variety of hot IBISWorld private schools, for-profit schools grow sauces than more traditional stores. Hot by selling shares to investors. sauce production isn’t expected to burn Phone: 1-310-866-5044 The Generic Pharmaceutical out any time soon: Over the next five savannahh@ibisworld.com Manufacturing industry has found years, industry revenue is projected to www.ibisworld.com sustained growth over the past 10 years, grow at an average annual rate of 4.1%.
  • 5. www.ibisworld.com | 1-800-330-3772 | info @ibisworld.com At IBISWorld we know that industry intelligence is more than assembling facts. It is combining Key External Drivers continued data with analysis to answer the questions that successful businesses ask. Identify high growth, emerging and shrinking markets Arm yourself with the latest industry intelligence Assess competitive threats from existing and new entrants Benchmark your performance against the competition Make speedy market-ready, profit-maximizing decisions Who is IBISWorld? We are strategists, analysts, researchers and marketers. We provide answers to information-hungry, time-poor businesses. Our goal is to give you the real-world answers that matter to your business in our 700 US industry reports. When tough strategic, budget, sales and marketing decisions need to be made, our suite of Industry and Risk intelligence products give you deeply researched answers quickly. IBISWorld Membership IBISWorld offers tailored membership packages to meet your needs. Join and become an industry expert! Disclaimer This product has been supplied by IBISWorld Inc. (‘IBISWorld’) solely for use of, or reliance upon, the data or information contained herein. Copyright in by its authorized licenses strictly in accordance with their license agreements this publication is owned by IBISWorld Inc. The publication is sold on the with IBISWorld. IBISWorld makes no representation to any other person basis that the purchaser agrees not to copy the material contained within it with regard to the completeness or accuracy of the data or information for other than the purchasers own purposes. In the event that the purchaser contained herein, and it accepts no responsibility and disclaims all liability uses or quotes from the material in this publication – in papers, reports, or (save for liability which cannot be lawfully disclaimed) for loss or damage opinions prepared for any other person – it is agreed that it will be sourced whatsoever suffered or incurred by any other person resulting from the use to: IBISWorld Inc. © Copyright 2012. IBISWorld Inc.