Least Risky Industries in the US in 2022

1. Medical & Recreational Marijuana Growing

2022 Overall Risk Score: 2.51

The Medical and Recreational Marijuana Growing industry, which includes both employer and nonemployer establishments that grow marijuana for medical and recreational use, flourished over the five years to 2021. Watershed legalization victories over recent years, most notably during the 2016 and 2020 election cycles, proved that the cannabis industry is one of the fastest growing industries in the US. In 2020 alone, Arizona, Montana, New Jersey and South Dakota passed legislation to legalize recreational marijuana. Consumer attitudes are also accelerating legalization efforts at the state level. Gallup reports that an estimated 80.0% of US citizens approve of legal access to... Learn More

2. 3D Printer Manufacturing

2022 Overall Risk Score: 2.73

Operators in the 3D Printer Manufacturing industry manufacture three-dimensional (3D) printers. 3D printing is considered a form of additive manufacturing, which involves taking a raw material and melting it into microscopic layers until it creates a 3D object. It differs from subtractive manufacturing, which removes material from an object to achieve the desired shape. While the 3D printing industry is nearly three decades old, it has surged ahead over recent years. The industry has been driven by rapid technological developments, falling costs and new applications for 3D-printing technology. Thus, over the five years to 2021, industry revenue is expected to... Learn More

3. Cryogenic Biobanking Services

2022 Overall Risk Score: 2.75

The Cryogenic Biobanking Services industry is a critical resource for modern scientific research, particularly with respect to disease researchers, pharmaceutical companies and biotechnology researchers. Using cryogenic storage facilities to house samples, operators in this industry catalog biospecimens by genetic or environmental characteristics for use by researchers who require specimens with these traits. Cryogenic storage refers to placing biospecimens in a controlled environment at temperatures between -80.0 Celsius and -196.0 Celsius, which requires liquid nitrogen, in order to preserve cellular information and structures. Additionally, industry services have spiked in demand in response to the COVID-19 (coronavirus) pandemic, as scientists store samples... Learn More

4. Laboratory Supply Wholesaling in the US

2022 Overall Risk Score: 2.76

The Laboratory Supply Wholesaling industry distributes professional equipment and supplies to laboratories, schools, government facilities and other private companies. The need for higher quality standards and regulations have driven companies to conduct more tests, promoting demand for industry products. Additionally, increased research and development (R&D) expenditure has supported industry revenue growth over the five years to 2021; however, rising e-commerce sales have hindered it, as manufacturers can bypass wholesalers to sell directly online.

The COVID-19 (coronavirus) pandemic in 2020 caused a significant spike in demand for industry products for the use of testing and vaccine development. Additionally, laboratory supply shortages occurred... Learn More

5. Solar Power in the US

2022 Overall Risk Score: 2.82

The Solar Power industry has experienced significant growth over the five years to 2021, propelled by favorable government incentives in the form of renewable portfolio standard (RPS) targets and vast improvements in the technologies used for electricity generation. RPS legislation, currently implemented in 29 states and territories, requires local utilities to generate a percentage of their total energy portfolio from renewable sources. Meanwhile, increased public support for green energy has led to tax incentives and grants to encourage investments in solar power. In light of these trends, industry revenue is expected to grow an annualized 21.8% to $10.8 billion over... Learn More

6. Hose & Belt Manufacturing in the US

2022 Overall Risk Score: 2.87

The Hose and Belt Manufacturing industry produces a range of products, such as automotive v-belts, hydraulic hoses and belts for conveyers. These products are used by transportation, automotive and general industrial manufacturers, oil, gas and food service industries. Other manufacturers and industrial enterprises, such as mining and oil and gas companies, purchase fluid power hoses as components of hydraulic systems and to transfer materials. Consequently, this industry is dependent on US manufacturing activity and industrial output.

A key market for this industry is the automotive sector, which purchases vehicle hoses and transmission belts for automobile manufacturing and repair. Industry operators are... Learn More

7. Medical & Recreational Marijuana Stores

2022 Overall Risk Score: 2.87

The Medical and Recreational Marijuana Stores industry, which includes stores that retail medical marijuana (by prescription only) and recreational marijuana, has expanded dramatically over the five years to 2021. The legalization of marijuana for medical and/or recreational purposes and the growing acceptance of legal marijuana use provided operators and investors with unprecedented opportunities. There has been no shortage of demand over recent years, and the cannabis industry has become one of the fastest-growing in the United States.

The legalization of recreational marijuana sales in several states has fueled revenue growth. Furthermore, the licensing of commercial recreational marijuana retailers has caused new... Learn More

8. Flying Schools

2022 Overall Risk Score: 3.10

Over the five years to 2021, the Flight School industry is expected to grow an annualized 2.2% to $3.6 billion, including a projected 32.0% increase in 2021 alone. In 2020, revenue is expected to decline dramatically due to the adverse effects of the COVID-19 (coronavirus) pandemic on the travel sector, reducing demand for flying schools. As many airlines reduced the number of flights or completely halted all flights amid the pandemic, they furloughed a large number of employees, including pilots. Therefore, this placed negative pressure on the industry as fewer students enroll at flight schools when job prospects are low.... Learn More

9. Product Returns Management Services

2022 Overall Risk Score: 3.19

The Product Returns Management Services industry manages reverse logistics, or the physical movement of surplus and unwanted goods, materials and equipment from consumers back to manufacturers and other locations for resale, reuse or disposal. Industry operators provide customer support and supply chain services, including warehousing, sorting, triage, repairs and after-sales support. Over the five years to 2021, the industry has benefited from rising disposable income, which has bolstered consumer spending and retail sales. Additionally, e-commerce sales have grown during the period, particularly amid the COVID-19 (coronavirus) pandemic in 2020. Stay-at-home orders and social distancing guidelines encouraged consumers to make purchases... Learn More

10. Scientific Research & Development in the US

2022 Overall Risk Score: 3.22

Operators in the Scientific Research and Development industry undertake physical, engineering or life sciences research and development. The primary purpose of all industry operators is research and development. Companies that undertake research and development to support their primary operations such as pharmaceutical operators and government entities are not included in this industry. Revenue for the Scientific Research and Development industry has increased at an annualized rate of 10.5% to $240.6 billion over the five years to 2021. While the COVID-19 (coronavirus) pandemic negatively affected downstream demand from private industries, increased government funding for research was able to counteract the decline... Learn More