If you want to build serious wealth over the long term, ASX growth shares can be a powerful addition to your portfolio.
Especially those with strong business models, market-leading positions, and the ability to expand earnings over time.
And while short-term market moves can grab headlines, the real magic happens when you hold onto quality businesses through cycles, letting time and compounding do the hard work.
With that in mind, here are three ASX growth shares I'd feel confident buying today and holding for the next 10 years.
Temple & Webster Group Ltd (ASX: TPW)
The first ASX growth share that I would buy and hold is Temple & Webster. It is Australia's leading online furniture and homewares retailer, which has carved out a dominant position in a market that has traditionally been under-penetrated online. Its asset-light model, strong brand, and expanding product range give it a clear advantage as consumer habits shift further towards ecommerce.
The Australian furniture and homewares market is estimated to be worth over $17 billion. This means that its market share is still relatively small (~2.9%), leaving plenty of room for growth over the next decade as the structural shift to online shopping continues.
WiseTech Global Ltd (ASX: WTC)
WiseTech Global has transformed the global logistics industry. Its flagship platform, CargoWise, is used by freight forwarders and logistics providers worldwide to manage complex supply chain operations. With supply chains becoming more intricate, regulation heavier, and efficiency a top priority, WiseTech is in a perfect position to grow.
What sets the ASX growth share apart is its deep industry moat. Its technology is embedded in customer workflows, and once adopted, it is sticky and hard to replace. This is evident in its ultra low customer churn level of less than 1%.
The company's ambitious acquisition strategy has helped it expand into new markets and services, while its strong profit margins and recurring revenue make it a compounding machine. These are qualities you want from a buy and hold investment.
Xero Ltd (ASX: XRO)
Finally, Xero is an ASX growth share I would buy and hold. It has established itself as a global leader in cloud-based accounting software, helping millions of small and medium-sized businesses manage their finances.
Its platform is sticky, its brand is trusted, and it benefits from a large and growing customer base across Australia, New Zealand, the UK, and North America.
What makes Xero an appealing long-term option is its recurring subscription revenue model, high gross margins, and huge global growth runway. The latter is estimated to be 100 million small to medium sized businesses. This compares to its current subscriber base of 4.4 million.
