Meaning & use
niche market
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Meaning
nouncountablebusiness
A small, specialized part of a larger market that has particular needs and is served by products aimed at a limited group of buyers.
Grammar: Countable: a niche market, niche markets; can also be used before another noun, as in niche market strategy.
Patterns
- a niche market for something
- target a niche market
The company found success in a niche market for handmade leather boots.
Small bakeries often focus on a niche market, such as gluten-free bread.
Selling vintage records online is a profitable niche market.
Word forms
| plural | niche markets |
|---|
Common combinations
- target a niche market
- The brand targets a niche market of long-distance cyclists.
- serve a niche market
- Her shop serves a niche market of board-game fans.
- find a niche market
- Start-ups often find a niche market the large firms ignore.
- a growing niche market
- Vegan cosmetics are a growing niche market.
- dominate a niche market
- They dominate a niche market for ski equipment.
Synonyms and how they differ
- specialist market
- Specialist market stresses expert products, while niche market stresses the small size of the group of buyers.
- market segment
- A market segment can be large, whereas a niche market is by definition small and tightly defined.
- mass market
- Mass market is the opposite idea: products designed for the largest possible audience.
Opposites
Word family
Commonly confused: niche market or niche product?
niche market vs niche product
A niche product is the item sold, while a niche market is the group of customers who want it.
Practice
Instead of competing with big supermarkets, she sells organic dog food to a ___.
Choose one answer.
A niche market is a small, specialized group of buyers. Mass market is the opposite, stock market is for shares, and black market is illegal trade.
Make it your own
Write a sentence using “niche market”, then check it and compare it with the examples above.