Industry is a fascinating thing. The world of business is fast-paced and always on the move. Industrial leaders are making huge strides in everything from food packaging to space exploration, and it’s all because of innovation and a daringness to create something better, simply “because.”
Some of the fastest-growing industries in the world might be surprising to you. Taking a deep dive into their stories is undoubtedly worthwhile. Read on to discover two major sectors that are on the move in today’s exciting market.
Mining is getting a facelift.
The gold mining industry has always provided the consumer marketplace with luxury goods and high-end electronics manufacturing capabilities. Yet miners have taken on a bad rap due to the labor and environmentally intensive practices required to extract ounces of gold from the earth.
Firms like Alamos Gold Inc. (NYSE:AGI) are changing this negative image, however. Alamos Gold has been perfecting a new formula for gold ounce extraction and stands ready to take its place as the preeminent gold miner in the world. With new development projects cropping up in four huge mineral reserve spaces in the Republic of Turkey, Sonora, Mexico, Northern Ontario, and the western United States, Alamos is a major player in the gold mining industry.
Today, Alamos operates three highly productive mines (the Young-Davidson and Island Gold Mines in Northern Ontario and the Mulatos Mine in Sonora, Mexico). Both mining spaces are working on expansions, however. In Canada, Alamos is exploring a new site at Lynn Lake, and in Sonora, at La Yaqui Grande. Yet, the crowning achievement of the Alamos brand’s expansion has to lie in its development projects in the Republic of Turkey that will supplement the entire business’ profit margins. The Kirazli project, in particular, stands ready to deliver over one hundred thousand ounces of gold per year at one of the industry’s lowest price per ounce figures.
But Alamos is also changing the industry for good by replacing harsh chemical use—such as cyanide—with proprietary extraction methods that are far more delicate in considering the environment within and around the mine site. Coupled with a push to incorporate cleaner energy and a turn away from diesel generators on each mining site, Alamos Gold Inc. is the gold standard among gold miners these days.
Supplement manufacturing is finding a new niche.
Supplement makers, especially those known primarily as a gummy manufacturer in the business, are finding a new client base with the booming success of CBD and Delta-8 products. Gummies have traditionally been used as a delivery method for children’s formulations, and gummy products were primarily in fun and brightly colored packages. Utilizing natural ingredients along with sweeteners and gelatin to cater to U.S. and worldwide childhood consumers and their parents has been a go-to for many years.
The industry is changing, though, and with the continued expansion of THC and CBD products and legalization around the U.S., CBD brands are relying on gummy supplement manufacturers more and more. With great flavor profile options and packages that fit the end user’s needs, supplements are a growing branding space (worth around $46 billion in the U.S. alone in 2020) that many gummy manufacturers are capitalizing on. In addition, gelatin, lozenges, and many other formulas are regularly making their way to consumers as more and more people turn to readily available health trends rather than booking a costly appointment with their doctors. With the coronavirus pandemic upending the healthcare industry more broadly in 2020, it’s no wonder why supplement manufacturers see such a surge in popularity—beyond the already growing industry’s baseline figures.
These two industries are poised for unique breakouts in the coming years as companies like these continue to rise.