What is Niche Market?

A definition of Niche Market

“A niche market is a specific, defined segment of the market that addresses a particular need or interest, catering to a specialized audience, often overlooked by mainstream providers.”

Niche Market in Business Glossary - What is a Niche Market?

Business Glossary > What is Niche Market?


Examples of Niche Market in a Sentence:

The niche market for organic skincare is rapidly growing.

Our company targets a niche market with unique dietary products.

Exploring a niche market can lead to high customer loyalty.

Why is Niche Market Important in Business?

Entering a niche market allows businesses to cater to specific customer needs, often leading to less competition and higher loyalty. It enables companies to focus on specialized products, creating unique value and potentially higher margins.

Know Your Niche Inside Out by Tomorrow: Learn everything you need to know about a niche from a report rushed to you in 24 hours, (or spend the next 3 weeks researching).

Associated Terms

Here are some associated business terms and synonyms for “Niche Market”:

  • Segment Market
  • Niche Audience
  • Target Segment

Tesla Niche Market

Tesla initially targeted the niche market of luxury electric vehicles, a segment neglected by traditional car manufacturers. By focusing on high-performance electric cars, Tesla established itself as a leader in the niche market and expanded its product offerings over time.

Final Notes on Niche Market

Entering a niche market requires understanding the unique needs of a specific customer group and how to meet them. This focused approach can lead to discovering untapped opportunities with a potential for growth.


This has been a definition of Niche Market meaning.

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