More often that not, lucrative new industries just seem to appear out of nowhere, leaving you to wonder how you could have profited if you got in on the ground floor. We’ve taken a look at global trends and found the 10 best industries for startups to help assist in your business conceptualisation if you want to register a company in Singapore in 2021. Read on and see where you might be able to ride the next big industry wave.
1. Biohacking
While the cityscapes of nighttime Singapore might seem like a good backdrop for Blade Runner-esque biohacking, it’s actually a lot less futuristic than it sounds. Biohacking, as a generalisation, is simply about human performance and optimisation.
While in theory, it can (and will) cover things like Near Field Communication (NFC) chip-implants and gene manipulation, right now biohacking is mostly about more manageable things like intermittent fasting and ketogenic diets.
Once the domain of Silicon Valley high flyers looking for a competitive edge, biohacking clinics are becoming more and more prevalent in major North American and European cities. While the emphasis is on high-tech and futuristic branding, at its heart, the biohacking industry is about restoring the health of wealthy but busy urbanites. And that does sound like a market Singapore has in spades.
2. Veganism and Plant-Based Products
All of a sudden, plant based meat alternatives are popping up all over the place in Singapore — and it’s little surprise given that the likes of Burger King and McDonalds have bought meatless meat into the global mainstream over the last year or so.
It’s estimated that the plant based meat industry will be worth S$4.39b by 2024, so it makes sense that one of the bigger players, Impossible Foods, has received heavy backing from Bill Gates and Hong Kong billionaire Li Ka-shing’s Horizons Ventures.
The prospect of either lab grown meat or plant based meat production is a real, viable option for Singapore given that there has never been any plentiful land for food production. In a new age of environmental awareness, urban markets around the world are clamouring for meat alternatives, and Singapore should continue to put their best foot forward for global innovation.
Read more about 10 best industries for startups in 2021 in Singapore at Rikvin.com.
