If you have space in your portfolio for some growth shares, then I think the ones listed below could be well worth considering.
Here's why I think these ASX growth shares are quality options:
Bubs Australia Ltd (ASX: BUB)
The first ASX growth share to consider buying is Bubs. It is a goat's milk-focused infant formula and baby food company which I believe could grow materially in the future. This is thanks to its growing distribution footprint online in China and offline in Australian supermarkets and pharmacies. Another big positive is its recent expansion into cow's milk infant formula.
Nearmap Ltd (ASX: NEA)
Another ASX growth share to buy is Nearmap. It is a leading aerial imagery technology and location data company. In FY 2020 the company expects to report annualised contract value (ACV) of $103 million to $107 million. This compares to $90.2 million in FY 2019. Whilst this is a large number, it is still only a fraction of the global aerial imagery market estimated to be worth US$10.1 billion in 2020.
Pushpay Holdings Group Ltd (ASX: PPH)
Pushpay is another growth share I would buy. It is a donor management platform provider for the faith sector. Pushpay has been growing at a rapid rate in recent years thanks to its leadership position in a niche but lucrative market. Pleasingly, this growth looks set to continue in the coming years with management aiming to win a 50% share of the medium to large church market in the future. This represents a US$1 billion revenue opportunity and is many times FY 2020's revenue of US$127.5 million.
ResMed Inc. (ASX: RMD)
A final growth share to consider buying is ResMed. I think the sleep treatment-focused medical device company can grow very strongly over the next decade thanks to its industry-leading products and sizeable market opportunity. Management estimates that there could be upwards of 1 billion people impacted by sleep apnoea worldwide. The vast majority of these are currently undiagnosed.
