When investors think of the biggest stock market gainers, they tend to look at the tech industry. Indeed, stocks such as Apple and Microsoft have helped mint millionaires from $10,000 initial investments or less.

However, such a focus may lead investors to ignore the massive gainers from consumer stocks. Thanks to these companies' ability to create niches within their segments, they have not only made investors millionaires but also offered them an alternative for safe growth. These are five multibaggers that investors should continue watching.

Home Depot

Perhaps few retail stocks have matched the success of Home Depot (HD -1.65%). It helped pioneer a massive retail niche in the form of the generalized home improvement store. Founders Bernie Marcus and Arthur Blank opened the first store in Atlanta in 1978 and turned to the stock market in September 1981 to help bankroll a nationwide expansion.

An investment of $10,000 during its IPO would've generated a return approaching $142 million today! Moreover, this does not include dividends. The stock's payout has risen by close to 4,800-fold since the company offered its first payout in 1987.

HD Chart
HD data by YCharts.

Today's Home Depot only operates in the U.S., Canada, and Mexico and is no longer a fast-growing stock. Nonetheless, with the rising dividend and slow net income growth, it has become an excellent stock for protecting existing wealth.

Walmart

Walmart (WMT -0.92%) has become one of the most impactful stories in American retail history. Founder Sam Walton opened the first Walmart in Rogers, Arkansas, in 1962 in hopes of bringing department store selections and low prices to small towns. Walmart furthered its competitive advantage by creating the first IT-driven supply chain.

With a continuing expansion, Walmart launched its IPO in October 1970. Those IPO day buyers who stuck with Walmart turned a $10,000 investment into almost $23 million today. That does not include dividends, which it began paying soon after its IPO and have risen annually for decades.

WMT Chart
WMT data by YCharts.

Admittedly, it has reached a saturation point in the U.S. and has had a mixed record internationally. However, with omnichannel retailing, it should slowly build on the wealth it accumulated over the decades.

Tractor Supply

From department store retailing to small-scale farming, Tractor Supply (TSCO -0.08%) has built one of the more enduring growth stories in American business. It fills a niche for rural lifestyle enthusiasts who own hobby farms.

It opened its first store in 1938 but did not launch an IPO outside of the OTC market until February 1994. Despite that lag, $10,000 invested in its Nasdaq IPO is worth around $5 million today.

TSCO Chart
TSCO data by YCharts.

At about 2,200 stores in the U.S., its days of more rapid growth are likely behind it. But with rising rural populations and a move into pet supplies to maintain growth, it should continue to appeal to more value-oriented investors.

Starbucks

Capitalizing on America's love for coffee and building shops around that concept has also proven lucrative. To that end, longtime Starbucks (SBUX -0.61%) CEO Howard Schultz brought an Americanized version of the Italian coffee shop to the world, resulting in over 37,000 locations.

Those who invested $10,000 at the IPO price in June 1992 now hold about $2.7 million worth of stock.

SBUX Chart
SBUX data by YCharts.

In recent years, it has turned to international expansion, particularly in China, to maintain growth. That adds some geopolitical risk. Still, as a go-to for one's morning coffee fix, the restaurant stock should remain a fixture in both society and the stock market.

Monster Beverage

Sometimes, pioneering a single product can also lead to massive investor returns, and this was the case with energy drinks. Energy drinks were not a focus when Monster Beverage's (MNST 1.57%) predecessor Hansen's was founded in 1935 to sell juices. 

The beverage stock had just emerged out of bankruptcy when it launched its IPO on the OTC market in 1990; it made its Nasdaq debut in February 2005. A $10,000 investment in 1990 would be worth just over $11 million today.

The move to the Nasdaq became a catalyst for the stock. And so successful was its energy drink that the company changed its name to Monster Beverage in 2012.

MNST Chart

MNST data by YCharts

Despite its massive past growth, analysts predict double-digit net income growth over the next five years . As the thirst for energy drinks continues to grow, this multibagger may stay a growth stock for years to come.

What investors can learn

These companies began from different places and took varying amounts of time to find success. Additionally, that success often came not from tech-oriented gadgets but from pioneering new takes on established businesses.

Indeed, growth has slowed significantly for most of these companies as they've grown to dominate more of their addressable markets. Still, entrepreneurs are constantly finding such niches, and applying the lessons learned from these companies may eventually lead to outsized returns when investing in emerging consumer stocks.