There’s no denying that when the economy contracts, people start to worry. Recessions are never a good thing for many people, as they can cause businesses to close and people to lose their jobs.

However, even during times of economic strife, the good news is some industries are seemingly recession-proof. It sounds crazy, but companies in specific sectors usually carry on as usual, with no notable impact on their turnover or profits.

Whether you’re starting a new business or wish to expand your portfolio of companies, you might be wondering which industries are genuinely recession-proof. Here are five such examples that will give you some insight on the subject:

1. Confectionery

Let’s face it: even when times are tough, most people will consume confectionery items such as candy and chocolate each day. These items are small luxuries that are affordable enough to buy alongside people’s weekly grocery shopping.

If that doesn’t convince you of how lucrative the confectionery industry is, take a look at these confectionery industry statistics for further information. You’ll wonder why you never considered investing in the confectionery industry!

2. Healthcare

Even during times of economic turmoil, the healthcare industry still thrives. The thing is, people still need access to medical care and pharmaceutical products, regardless of the state of the economy.

Healthcare is an essential industry for any nation, and a country’s citizens depend on decent healthcare provision to survive. Each day, people encounter all kinds of medical complaints, and so there’s a constant need for medical care and medicine.

3. Discount Retail

During a recession, some people may struggle to buy the grocery items they would have usually purchased in pre-recession times. That might be due to a drop in income, or because the prices of some goods have risen.

As such, it makes sense for those individuals to buy items from discount retail stores. Such retailers thrive during recessions, as many people seek to find cheaper alternatives to the products they would have usually purchased.

4. Freight

It’s worth noting that goods need to get moved from one location to another, regardless of the economic climate. All sorts of items need transporting across countries, regions, and towns.

The freight industry is the backbone of any country and ensures that all other sectors can function. And without freight companies, goods would not get imported or exported. The freight industry is an excellent safe-bet option for investment.

5. Auto Parts

Last but not least, it’s worth noting that the auto parts industry also thrives during times of recession. Yes, fewer people are likely to have their vehicles maintained at dealerships or local auto shops. But, that doesn’t mean vehicle owners won’t attempt repairs themselves.

The auto parts industry is worth around $71 billion in the United States. It comprises thousands of companies that make aftermarket parts for a plethora of cars and commercial vehicles.

Final thoughts

The five examples above are industries that do well, even in the face of economic turmoil. Those five industries are safe bets for your money if you’re thinking of starting a new business or wish to invest in one.