Whether you are an investor or an entrepreneur, staying up-to-date with the changing trends in the economy is the key to survival in an increasingly competitive environment. There are many industries that are up and coming in the global economy, which has seen many structural changes in the past few years. Tapping into these potential industries can help you make the most of your capital, whether you are looking to invest in the short term or even thinking to start a business. So without further ado, we tell you about the top growing industries today.
1) Mining Related Industries:
Mining has seen an increase in demand as major powers try to increase the supply of important raw materials such as oil and natural gas, which have seen surges in price in recent years. In order to combat the price inflation of these commodities, mining projects and related industries have become one of the fastest growing industries in the world. Equipment such as drills has seen a high sales growth but more importantly the service sector related to mining, which involves geologists and planners have seen a great increase in demand. Overall, activities such as drilling and geological activities have posted a 21% increase in sales in the last year.
2) Oil Seed and Grain Farming
Not so long ago, many analysts pointed to the fact that the world was fast losing its potential to grow crops and that the global diet was becoming more homogenous as people are beginning to consume more or less the same crops, which includes staples such as wheat and rice. Not surprisingly then, oil seed and grain farming is also one of the top growing industries in the present time. Oil seed in particular has seen a demand boom in the past 5 years due to a shift in preferences of the consumers, whereas grains such as wheat and corn have remained in high demand as always. These particular industries posted a sales growth of about 20% in the last year.
3) The Beverage Industry:
The global recession might have hit many industries but not Coca-Cola or Pepsi. Therefore it comes as no surprise that the beverage industry is also one of the fastest growing industries of 2014. Soft drinks and bottled water top the charts in this industry. But the growing demand for fresh juices and a consistently stable demand for alcohol has also made this industry one of the fastest growing industries with a sales growth rate of 20% in the last year.
4) Machinery Manufacturing:
Due to the increase in growth in the agricultural and mining sector, demand for related machinery such as tractors, steam rollers etc. is at a peak, and therefore the machinery manufacturing industry makes the top growing industries list. This industry posted a sales growth of 18% last year.
5) Crop Farming:
Besides the staple crops mentioned above, other important crops such as sugarcane and tobacco are in high demand worldwide. Cotton in particular has seen resurgence in demand since the end of the global recession, which in this industry has posted an 18% increase in sales growth last year.