investing – Market Industry Forecast News

Outdoor Power Equipment Market Supported by Growth in Commercial Projects

The global outdoor power equipment market was estimated at USD 53.42 billion in 2024 and is projected to reach USD 76.61 billion by 2030, registering a compound annual growth rate (CAGR) of 6.3% during 2025–2030. This growth is primarily driven by rising demand for cordless outdoor power tools, as users increasingly seek enhanced flexibility and portability.

Key Market Trends & Insights

Regional leadership: North America generated the highest revenue in 2024
Fastest growing region: Asia Pacific is expected to emerge as the fastest-growing regional market from 2025 through 2030
Dominant equipment type: Lawn mowers held the largest market share by equipment category, accounting for 40.99% in 2024
Growth through end use: Commercial segment usage is expected to grow significantly over the forecast period

Market Size & Forecast

Market size: USD 53.42 billion in 2024
Forecasted size: USD 76.61 billion by 2030
Forecast period CAGR: 6.3% from 2025 to 2030
Leading region: North America was the largest market in 2024
Improvements in technology—especially advancements in battery-powered tools—are expected to further accelerate market growth

Key Companies & Market Share Insight

While specific market shares were not listed in the available content, the market is competitive—with several multinational and diversified manufacturers contributing technological advancements and broad distribution networks.

Order a free sample PDF of the Outdoor Power Equipment Market Intelligence Study, published by Grand View Research.

Key Companies:

Notable players include (in no particular order):
Husqvarna
Makita
Honda Motors
Briggs & Stratton
MTD Holdings
Stanley Black & Decker
Stihl
Techtronic Industries
ECHO (Yamabiko subsidiary)
Ariens
The Toro Company
Deere & Company
Robert Bosch
DexKo Global (which may include AL-KO group affiliates)

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Conclusion

The outdoor power equipment market is experiencing solid growth, crossing USD 53 billion in 2024 and forecasted to reach over USD 76 billion by 2030 at a robust CAGR of 6.3%. Key growth drivers include the shift toward battery-powered tools, expanding commercial usage, and strong regional demand—especially from North America and fast-growing Asia Pacific. Lawn mowers dominate the equipment landscape, while a diverse pool of established companies continues to innovate and shape the competitive environment.

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Orthopedic Braces And Supports Market Supported by E-Commerce Growth

In 2024, the global orthopedic braces and supports market stood at USD 4,670.9 million, and is forecast to rise to USD 7,006.2 million by 2030, reflecting a steady compound annual growth rate (CAGR) of 7.3% over the 2025–2030 period. This expansion is driven by ongoing technological innovation, rising rates of injuries related to sports and accidents, an aging population, and growing public awareness regarding preventive healthcare.

Key Market Trends & Insights

In 2024, North America accounted for the largest share of the global orthopedic braces and supports market, with a revenue share of 35.83%. The United States emerged as the dominant national market within the region.
Among product categories, braces and supports constituted the leading segment in 2024, capturing nearly 75% (specifically, 74.97%) of total revenue.
Regarding end-use, orthopedic clinics were the primary source of revenue during the same year.

Market Size & Forecast

Market value in 2024 was USD 4,670.9 million.
By 2030, the market is estimated to reach USD 7,006.2 million.
The projected CAGR from 2025 to 2030 is 7.3%.
Regionally, North America leads in overall size as of 2024, while Asia Pacific is expected to demonstrate the fastest growth rate through the forecast period.

These figures underscore ongoing developments in product innovation and distribution approaches aimed at improving patient outcomes.

Key Companies & Market-Share Insight

Leading companies in this industry are actively working to refine their offerings and strengthen their market presence. Notable company initiatives include the expansion of pediatric bracing divisions, targeted product launches, strategic acquisitions, and partnerships aimed at bolstering regional footprints and technical capabilities.

Order a free sample PDF of the Orthopedic Braces And Supports Market Intelligence Study, published by Grand View Research.

Key Companies:

The following organizations are recognized as the principal players in the orthopedic braces and supports landscape, collectively representing the most significant share of the market and shaping industry trends:

BREG, Inc.
Frank Stubbs Company Inc.
DeRoyal Industries, Inc.
Össur
Fillauer LLC
Ottobock
McDavid
Bauerfeind
Weber Orthopedic LP
DJO, LLC (Enovis)
3M
Zimmer Biomet

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Conclusion

In summary, the orthopedic braces and supports industry is experiencing robust and sustained growth—from USD 4,670.9 million in 2024 to an anticipated USD 7,006.2 million by 2030—propelled by technological strides, demographic trends, and increasing demand tied to injury prevalence. Braces and supports dominate the product space, and orthopedic clinics remain critical channels. North America leads the market, while Asia Pacific offers the most rapid expansion opportunity. Competition is shaped by a mix of established global players investing in R&D, acquisitions, and partnerships to enhance reach and innovation.

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Orthobiologics Market Driven by Increasing Adoption in Spine Surgeries

The global orthobiologics market size was estimated at USD 6.77 billion in 2024 and is projected to reach USD 10.34 billion by 2033, growing at a compound annual growth rate (CAGR) of 4.74% from 2025 to 2033. Growth is supported by rising sports injuries, road traffic accidents, widespread adoption of minimally invasive treatments, increasing orthopedic procedures, and a growing aging population.

Orthobiologic products face strict regulatory requirements to ensure they meet high standards of quality, safety, and efficacy before entering the market. This safeguards the patient’s health and fosters trust among healthcare professionals and consumers. Regulatory agencies, such as the Food and Drug Administration (FDA) in the U.S. and the European Medicines Agency (EMA) in Europe, establish guidelines and frameworks for the development, testing, and approval of orthobiologic therapies.

Traditional surgical procedures, while invasive, remain a feasible option for some patients who may not qualify for orthobiologics or those who prefer more established techniques. Additionally, pharmaceutical therapies, such as pain medications and anti-inflammatory drugs, provide non-invasive alternatives for managing symptoms associated with musculoskeletal disorders. Furthermore, medical devices, such as joint implants, provide long-lasting solutions for severe cases of joint degeneration.

Key Market Trends & Insights

North America accounted for the largest regional share at 46.03% of the global orthobiologics market in 2024
By product type, viscosupplementation held the highest share at 42.21% in 2024
Among applications, the spinal fusion segment led with 48.29% share in 2024
Regarding end use, hospitals were dominant in 2024

Market Size & Forecast

2024 Market Size: USD 6.77 billion
2033 Projected Size: USD 10.34 billion
CAGR (2025–2033): 4.74%
Largest Market: North America
Fastest-Growing Region: Europe

Demand Drivers

Sports-related injuries: In 2023, approximately 3.7 million people in the U.S. sustained sports-related injuries
Around 3.5 million children and adolescents incur sports injuries annually out of 30 million participants
Lower extremity injuries—particularly from soccer, track, and cross-country events—are especially common

Order a free sample PDF of the Orthobiologics Market Intelligence Study, published by Grand View Research.

Key Companies & Market Share Insight

Leading companies shaping the market includes

Medtronic Plc
DePuy Synthes
Zimmer Biomet
Stryker Corporation
Bioventus LLC
Anika Therapeutics, Inc.
Orthofix, Inc.
Globus Medical
Arthrex, Inc.
Bone Biologics Corp.

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Conclusion

In summary, the orthobiologics market is poised for robust growth, expanding from USD 6.77 billion in 2024 to USD 10.34 billion by 2033 at a CAGR of 4.74%. Growth is propelled by factors such as aging demographics, obesity-related musculoskeletal issues, sports and road-related injuries, and technological progress in regenerative therapies. North America leads in market share, while Europe is emerging swiftly. Viscosupplementation and spinal fusion dominate product and application segments, respectively, with hospitals serving as the primary delivery channel. Innovation, investment, and strategic consolidation among established players further reinforce the market’s upward momentum.

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Organic Cheese Powder Market Gains Popularity in Nutritional Snacks

In 2023, the global organic cheese powder market was estimated at USD 319.66 million. Projections indicate it will reach USD 505.91 million by 2030, reflecting a compound annual growth rate of 6.8% from 2024 to 2030. This expansion is driven by growing consumer preferences for organic and natural food products, as well as the rising demand for convenient, flavor-enhancing ingredients across diverse culinary applications. The surge in health awareness and sustainability concerns is a key underpinning of this trend.

Key Market Trends & Insights

Europe accounted for over 40% of global organic cheese powder sales in 2023, led by consumer health consciousness and stringent organic standards across countries such as Germany, France, the UK, and the Netherlands.
In North America, the United States represented 84% of regional revenue in 2023, with high consumer demand for certifications such as USDA Organic, non-GMO, and gluten-free driving preference for organic variants.
Organic cheddar cheese powder held a dominant 48.03% revenue share in 2023, making it the largest product segment.
Among applications, snack products accounted for about 30% of revenue in 2023. Organic cheese powders are increasingly featured in snacks such as organic popcorn, pretzels, and crackers that cater to both taste and clean-label preferences.

Market Size & Forecast

2023 Market Size: USD 319.66 million
2030 Projected Market Size: USD 505.91 million
CAGR (2024–2030): 6.8%
Largest Market Region (2023): Europe

The market benefits from increased retail availability of organic cheese powders, clean-label consumer demand, and eco-friendly preferences. Certifications signaling organic authenticity and sustainable production are influential in purchasing decisions.

The trend is reinforced by product innovation such as flavor blends, herb-infused variants, and collaborations—melding convenience with diverse culinary profiles.

Order a free sample PDF of the Organic Cheese Powder Market Intelligence Study, published by Grand View Research.

Key Companies & Market Share Insight

The market is characterized as fragmented but growing; innovation is accelerating with producers experimenting with varied flavor profiles and blends to meet evolving consumer tastes.

Substitutes—namely conventional cheese powders and vegan cheese powders—pose a moderate to high competitive threat due to cost and accessibility, though demand for organic credentials tempers the impact.

Key Companies:

Land O’Lakes, Inc.
Bluegrass Ingredients, Inc.
Glanbia plc
Cheesepop Food Group
Kerry Group plc
Outdoor Herbivore
Frontier Co-op
Healthier Comforts
Anthony’s Goods
Ballantyne

These firms hold leading positions in terms of market share and shape industry trends through organic product offerings and retail expansion.

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Conclusion

The organic cheese powder market is on a robust growth trajectory, underpinned by a global shift toward organic, clean-label, and health-oriented food choices. With a solid base of USD 319.66 million in 2023 and poised to reach USD 505.91 million by 2030 (at a 6.8% CAGR), the industry reflects dynamic regional leadership—Europe at the forefront, and North America closely following. Cheddar dominates product share, while snack applications lead usage. Competitive intensity is rising, fuelled by both traditional and emerging substitutes, spurring innovation. The presence of diverse key players—from established agribusinesses to niche organic brands—indicates a maturing yet flexible market landscape. Looking ahead, sustained consumer demand for transparency, flavor, and convenience will likely continue to propel the sector’s expansion.

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Organic Bar Soap Market Expands with Demand for Chemical-Free Products

In 2021, the global organic bar soap industry reached an approximate valuation of USD 1.83 billion and is anticipated to grow to around USD 3.64 billion by 2030. This trajectory corresponds to a compound annual growth rate (CAGR) of 8.2% from 2022 through 2030. The upsurge reflects a growing global preference for wellness-oriented products and evolving consumer behavior in the beauty and personal care sector.

Key Market Trends & Insights

In 2021, the Asia Pacific region accounted for the largest share, contributing nearly 33.1% of total global revenue.
The Middle East and Africa region is forecast to experience robust expansion, with an estimated CAGR of 8.3% over the same period.
Among distribution channels, online sales dominated, representing 45.8% of global revenue in 2021.

Market Size & Forecast

2021 Market Size: USD 1.83 billion
2030 Projected Market Size: USD 3.64 billion
Growth Rate (2022–2030): CAGR of 8.2%
Leading Region in 2021: Asia Pacific held the largest market share

The COVID-19 pandemic significantly impacted the supply chain and distribution networks, including the shutdown of convenience stores and hypermarkets. However, the crisis spurred heightened demand for organic and sustainable products, driven by renewed attention to health and wellbeing. Consumers are increasingly seeking products labeled as vegan, natural, clean, reef-friendly, GMO-free, gluten-free, soy-free, transparent, or recyclable. In response, manufacturers are innovating to meet these demands. For example, one producer offers eco-friendly, plant-based soaps in vibrant colors and fragrances—vegan and packaged without plastic.

Key Companies & Market Share Insight

The online distribution channel’s convenience—home delivery, flexible payments, promotional pricing, and access to multiple brands on a single platform—has fundamentally reshaped purchasing behavior. With growing internet adoption and consumer preference for mobile shopping, major players are expanding their e-commerce presence to capture more of this market.

Asia Pacific’s dominance stems from increasing health awareness and the availability of a range of organically scented soaps. As consumer understanding grows of the advantages organic soaps offer over conventional alternatives, demand is further boosted by these appealing options. The Middle East and Africa, particularly the UAE, are embracing holistic beauty approaches, especially among millennials and Gen Y.
In a landscape populated by numerous participants, differentiation through innovation is key. One family-run company, for instance, handcrafts goat milk soaps on a farm using fresh goat milk, natural oils, and butter. Their product line includes all-natural soap varieties, moisturizers, and natural skin remedies.

Order a free sample PDF of the Organic Bar Soap Market Intelligence Study, published by Grand View Research.

Notable Companies Operating in the Organic Bar Soap Sector

Neal’s Yard (Natural Remedies) Limited
Khadi Natural
Bronner’s Magic Soaps
The Body Shop International Limited
Forest Essentials
Truly’s Natural Products
Bali Soap
Beach Organics
Osmia

These brands span a diverse spectrum—from holistic, artisanal producers to larger international retailers—each leveraging unique formulations, natural ingredients, and ethical branding to capture consumer interest.

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Conclusion

The organic bar soap market is on a dynamic upward trend, poised to nearly double in value from USD 1.83 billion in 2021 to USD 3.64 billion by 2030, at an impressive 8.2% CAGR. Asia Pacific leads the market, while the Middle Eastern and African regions emerge as fast-growth areas. Online distribution stands out as the most influential sales channel, supported by evolving consumer expectations and shopping habits. Innovation—especially around natural ingredients, sustainable packaging, and wellness messaging—drives competition among a varied roster of brands. Overall, the market’s growth reflects a deepening global commitment to health-conscious, environmentally mindful, and ethically produced personal care solutions.

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Oral Appliances Market Supported by Advanced 3D Printing Solutions

In 2023, the global oral appliance market was valued at USD 908.7 million. It is projected to grow at a compound annual growth rate (CAGR) of 5.72% from 2024 to 2030, reaching around USD 1.4 billion by 2030. This expansion is driven by growing awareness of sleep-related disorders, especially obstructive sleep apnea (OSA), as well as increased demand for non-invasive treatments. Technological advancements, better product design focused on comfort, supportive reimbursement frameworks, and the presence of established market participants all contribute to the market’s upward trajectory

Key Market Trends & Insights

Geographic leadership: North America held the largest revenue share in 2023, with the U.S. as the primary contributor
Product dominance: Mandibular advancement devices (MADs) accounted for the largest share of the market, representing 69.0% of revenue in 2023
Distribution channels: The direct-to-consumer (DTC) segment led sales, capturing the largest share among distribution methods
End-use segment: Hospitals and clinics were the main purchasers of oral appliances in 2023

Broader enhancements: Market growth is also fueled by technological innovation—such as 3D printing and smart-device integration—improvements in comfort, favorable policies, and support for alternatives to CPAP therapy

Demographic influence: The rising global geriatric population significantly contributes to market demand. OSA affects 13% to 32% of individuals aged 65 and older, and with the elderly population expected to double in share—from 12% to 22%—its impact is substantial

Market Size & Forecast

2023: Market valued at USD 908.7 million
2024 (estimate): Approximately USD 970.7 million
2030 projection: Around USD 1.4 billion, based on a 5.72% CAGR from 2024 to 2030
Regional drivers: North America remains the largest market, while Europe and Asia Pacific are expected to register significant growth.

Europe benefits from increased awareness and evolving technologies; Asia Pacific gains momentum through awareness expansion, improved healthcare infrastructure, and events showcasing new developments

Order a free sample PDF of the Oral Appliances Market Intelligence Study, published by Grand View Research.

Key Companies & Market Share Insight

These companies contribute through innovations, product launches, regulatory approvals, and geographic expansion. For example, in November 2022, one company received U.S. FDA clearance for a newly refined appliance that was notably more compact—by nearly 13%—than previous models, aligning with Centers for Medicare Services (CMS) coding guidelines

Key Companies

ResMed Inc.
ProSomnus
Vivos Therapeutics
SomnoMed
Glidewell
Airway Management (TAP)
Mitsui Chemicals, Inc. (Whole You)
Achaemenid, LLC
Apnea Sciences
Signifier Medical Technologies

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Conclusion

Overall, the oral appliances market is on a steady growth path, poised to expand from USD 908.7 million in 2023 to around USD 1.4 billion by 2030. This momentum is primarily underpinned by rising awareness of sleep apnea, especially among aging populations, preference for less invasive solutions, and sustained technological advancements. North America continues to lead the market, but robust growth is expected in Europe and Asia Pacific, driven by increased healthcare investments and innovation showcases. Leading firms in this field are front and center—innovating in device design, securing regulatory endorsements, and refining channels to meet evolving patient needs.

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Military Simulation and Virtual Training Market Thrives on Technological Upgrades

The global military simulation and virtual training market was valued at USD 13.02 billion in 2022 and is projected to reach USD 18.75 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030. This growth is primarily fueled by the increasing need for a skilled workforce in naval operations and the rising demand for both conventional and unconventional military equipment and software.

Traditional real-time military training is not only costly and time-intensive but also requires substantial resources, such as fuel and explosives, with inherent risks. Consequently, defense ministries worldwide are shifting towards virtual training and simulation-based platforms that leverage technologies like Artificial Intelligence (AI), big data, and cloud computing.

Military simulation systems enable the realistic training of recruits by replicating real-time scenarios using advanced software. The rise in investments in simulation technologies and the defense sector’s ongoing modernization efforts are expected to further boost the market. Governments are increasingly restructuring their military frameworks using innovative simulation tools, accelerating the adoption of these systems.

Simulations and virtual training programs are gaining widespread adoption among global armed forces due to their cost-effectiveness. These systems are developed using Commercial-off-the-Shelf (COTS) components, which minimize development costs and promote scalable solutions. This, in turn, enables the military to innovate rapidly in simulation-based training.

Moreover, the growing demand for upgrading existing equipment and acquiring new, technologically advanced systems is contributing to the market’s expansion. For instance, Bohemia Interactive Simulation introduced an Augmented Reality (AR) visual system for Textron, Inc., which merges real-world interactions with synthetic environments through VR/AR technologies.

Advancements in portable simulation systems—including vehicle, flight, and battlefield simulations—allow customization for specific missions and applications across air, ground, and naval domains. These tailored systems provide strategic experiential training, enhancing soldier readiness, particularly in managing complex missile systems and electronic military hardware.

As defense budgets are constrained in several countries, governments are seeking cost-effective training alternatives. This trend is expected to further bolster demand for virtual training solutions, as they offer improved capabilities at reduced operational costs.

Order a free sample PDF of the Military Simulation and Virtual Training Market Intelligence Study, published by Grand View Research.

Key Market Trends & Insights:

North America held the largest revenue share at 34.9% in 2022.
Air application segment dominated by revenue with a 44.0% share in 2022.
Ground application segment is expected to grow at the highest CAGR of 4.9% during the forecast period.
Flight simulation led among platform types, accounting for 39.6% revenue share in 2022.

Market Size & Forecast:

2022 Market Size: USD 13.02 Billion
2030 Projected Market Size: USD 18.75 Billion
CAGR (2023–2030): 4.7%
Leading Region (2022): North America
Fastest Growing Region: Asia Pacific

Key Players & Market Strategies:

Industry leaders are pursuing strategic acquisitions and partnerships to strengthen their market position. The sector, still evolving, is witnessing an uptick in product launches and contractual agreements. For instance, in November 2022, BAE Systems collaborated with Inzpire to integrate immersive training expertise into its Operational Training Services, aiming to deliver secure, high-fidelity synthetic training environments.

Major Companies in the Market:

Northrop Grumman
Cubic Corporation
CAE Inc.
AAI Corporation
Collins Aerospace
Lockheed Martin Corporation
BAE Systems
L3Harris Technologies, Inc.
Thales
Bohemia Interactive Simulations

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Conclusion:

The military simulation and virtual training market is on a steady growth trajectory, driven by the need for cost-effective, safe, and technologically advanced training methods. With defense forces worldwide seeking innovative ways to enhance operational readiness, investments in simulation-based systems are likely to accelerate. As defense budgets tighten, simulation technologies offer an optimal solution for maintaining combat proficiency while minimizing costs and risk—positioning the market for sustained long-term growth.

Microbial Identification Market Fueled by Growing Awareness of Pathogen Detection

The global microbial identification market size was valued at USD 4.19 billion in 2024 and is expected to reach USD 8.18 billion by 2030, expanding at a compound annual growth rate (CAGR) of 11.91% from 2025 to 2030. This significant growth is attributed to the rising prevalence of infectious diseases, rapid technological advancements, increased R&D efforts, and growing government investments in the biotechnology and life sciences sectors.

Moreover, heightened awareness regarding food safety and the need for effective environmental monitoring are key drivers anticipated to further fuel the market’s growth from 2025 onward. These factors are increasingly prompting industries and governments to adopt advanced microbial identification systems to ensure public health and safety.

Antimicrobial resistance (AMR)—the ability of microbes to resist the effects of medications—poses a serious global health threat. It leads to higher mortality rates, extended hospitalizations, and escalating healthcare costs. Accurate microbial identification plays a crucial role in combatting AMR by enabling precise, targeted treatment and minimizing the inappropriate use of broad-spectrum antibiotics.

With healthcare systems placing greater emphasis on antimicrobial stewardship, the demand for rapid and accurate microbial diagnostics is rising. Technologies like MALDI-TOF mass spectrometry, PCR-based systems, and next-generation sequencing (NGS) offer efficient detection of pathogens and resistant strains, allowing clinicians to make informed decisions and enhance patient outcomes. These tools are becoming essential components of modern infection control and treatment strategies.

According to the Global Research on Antimicrobial Resistance Project published in The Lancet in September 2024, the absence of effective interventions could result in over 39 million direct deaths from antibiotic-resistant bacterial infections within the next 25 years. Indirect deaths could reach an additional 169 million. By 2050, total deaths from AMR are projected to surge to 10.13 million annually, with an economic impact potentially reaching $1 trillion to $3.4 trillion in global GDP losses by 2030. These projections underscore the urgent need for reliable microbial identification methods.

International initiatives, such as the World Health Organization’s Global Action Plan on AMR, are encouraging governments to enhance surveillance systems and diagnostic infrastructures. In response, hospitals, research institutions, and laboratories are increasingly investing in advanced microbial identification technologies, reinforcing the market’s critical role in public health.

Order a free sample PDF of the Microbial Identification Market Intelligence Study, published by Grand View Research.

Key Market Trends & Insights

North America led the global market with a 38.38% share in 2024.
The U.S. microbial identification market is anticipated to witness strong growth throughout the forecast period.
Consumables dominated the product & services segment with a 36.60% share in 2024.
PCR technology accounted for the largest technology segment with a 36.69% share in 2024.
The genotypic segment held the largest share at 42.19% in 2024 and is expected to record the highest CAGR from 2025 to 2030.

Market Size & Forecast

2024 Market Size: USD 4.19 Billion
2030 Market Size: USD 8.18 Billion
CAGR (2025–2030): 11.91%
North America: Largest regional market (2024)
Asia Pacific: Fastest-growing region

Key Microbial Identification Company Insights

Leading market participants are employing strategies such as partnerships, mergers, and geographical expansions to enhance their footprint and drive product accessibility. These initiatives play a vital role in shaping industry dynamics and accelerating market growth.

Major Companies in the Microbial Identification Market:

bioMérieux SA
Becton, Dickinson and Company
Thermo Fisher Scientific Inc.
Bruker Corporation
Danaher Corporation
Qiagen N.V.
Charles River Laboratories
Wickham Micro Limited
VWR International LLC (Avantor Inc.)
Shimadzu Corporation
Merck KGaA
Eurofins Scientific SE
Biolog Inc

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Conclusion

The microbial identification market is poised for substantial growth through 2030, driven by the convergence of health priorities, technological progress, and global efforts to mitigate antimicrobial resistance. As awareness of microbial threats continues to grow, so too does the demand for accurate and timely identification tools. The integration of advanced technologies, coupled with supportive government and institutional initiatives, ensures that microbial identification will remain a cornerstone in the global strategy to protect public health, improve patient care, and curb the economic and medical impact of AMR.

Strontium Market Experiences Surge Due to Advancements in Imaging Devices

The global strontium market size was estimated at USD 248 million in 2023 and is projected to reach USD 378.7 million by 2030, expanding at a CAGR of 6.3% from 2024 to 2030. This growth is primarily driven by increasing demand in the production of ceramic ferrite magnets and the medical industry, particularly for the prevention and treatment of bone-related disorders.

One of the key growth contributors is the rising usage of bright and colorful fireworks, especially within the entertainment and event management sectors. This trend continues to support overall market demand. According to the American Pyrotechnics Association, display fireworks consumption in the U.S. reached 27.1 million lbs. in 2023, marking a 7% year-over-year increase. This uptick highlights the robust demand for strontium in pyrotechnics.

Strontium’s most significant application lies in pyrotechnics and signals, where it is an essential raw material due to its ability to create a vivid red color in fireworks and its high oxygen content, which supports ignition. Additionally, the material’s role in ceramic ferrite magnet production has grown due to its utility in electronics manufacturing.

In the medical field, strontium offers promising opportunities, with ongoing research exploring its use in treating bone and dental conditions. These advancements are expected to strengthen its presence in healthcare applications in the coming years.

Despite its wide applications, the strontium market faces potential challenges from emerging technologies that could substitute traditional materials. Alternatives such as OLEDs, LED displays, and new alloys could reduce demand over time. However, the slow pace of technological transition implies that any significant impact on strontium demand would likely be delayed.

Global market reception of strontium remains mixed. Factors such as its exclusion from critical mineral lists, varied consumption across applications, and relatively low commercial value compared to other minerals have influenced its perception. Nevertheless, demand consistency across major sectors has supported relatively stable global pricing.

Strontium pricing is affected by a range of factors, including ore and production costs, energy and labor expenses, market demand dynamics, technological changes, environmental regulations, currency fluctuations, and geopolitical trends. Historically, prices have shown low volatility due to steady demand, although occasional regional price shifts have occurred.

In the U.S., strontium demand is largely driven by its applications in pyrotechnics and ceramic magnets. However, a notable decline in its use in drilling fluids was recorded in 2023 due to reduced drilling activities, leading to a year-over-year price dip.

Meanwhile, the electronic, medical, and personal care sectors have shown steady growth since 2022, driven by post-pandemic economic recovery. This sustained demand is expected to contribute to relatively stable pricing trends throughout the forecast period.

Order a free sample PDF of the Strontium Market Intelligence Study, published by Grand View Research.

Key Market Trends & Insights

Asia Pacific led the global market with a 37.2% revenue share in 2023.
In the U.S., increased military spending is anticipated to support market growth.
The strontium carbonate product segment held the largest share at over 41.0% in 2023.
The personal care application segment is forecasted to witness the highest CAGR of 7.0%.

Market Size & Forecast

2023 Market Size: USD 248 Million
2030 Projected Market Size: USD 378.7 Million
CAGR (2024–2030): 6.3%
Largest Regional Market: Asia Pacific (2023)

Key Company Insights

Basstech International (U.S.) specializes in strontium nitrate and serves the North American region.

Solvay (Belgium) produces high-purity strontium compounds and operates globally.

Key Players in the Strontium Market

ABASSCO
Basstech International
Canteras Industriales, S.L.
Joyieng Chemical LTD.
ProChem
Quimica Del Estroncio, S.A.
Sakai Chemical Co., LTD.
Solvay

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Conclusion

The global strontium market is poised for steady growth, supported by diverse end-use industries including fireworks, electronics, and healthcare. While challenges from emerging technologies may impact certain applications in the long term, the current stability in demand and pricing—especially across Asia Pacific and North America—suggests a favorable outlook through 2030. Continued innovations and expanding medical research further position strontium as a valuable mineral across evolving industrial landscapes.

Warehouse Racking Market Supported by Rising Investments in Industrial Infrastructure

The global warehouse racking market was valued at USD 9.71 billion in 2024 and is expected to grow at a CAGR of 4.2% from 2025 to 2030. The market’s growth is driven by the rising need for warehouse capacity expansion alongside the rapid growth of online retail. Warehouse racking plays a crucial role in optimizing storage space, increasing capacity, and improving the organization of stored goods. A well-organized racking system enables easier identification, picking, and order fulfillment.

Additionally, warehouse racking reduces overall operational time. The expansion of key industries such as automotive, manufacturing, retail, and food & beverage worldwide is projected to further increase product demand. As businesses seek more warehouse space to store and easily access products, the demand for efficient racking systems is expected to rise. Strategically planned racking solutions help warehouses reduce costs by allowing bulk purchases from vendors, who often provide discounts for larger orders.

By maximizing storage capacity, warehouses can reduce costs while improving efficiency. A well-structured racking system not only facilitates faster order picking—reducing the need for excessive labor—but also ensures timely fulfillment of orders without backlogs. The U.S. market is anticipated to experience substantial growth, supported by a large e-commerce sector, advanced infrastructure and automation, and a highly skilled workforce. Moreover, the presence of numerous manufacturers and racking solution providers in the country contributes to higher production volumes and comprehensive after-sales support.

Product Insights

In 2024, the selective pallet racking segment accounted for the largest revenue share, capturing 45.0% of the market. This system is favored for its cost-effective design, broad range of sizes, and accessories, making it ideal for standard storage and utility applications. Its growing adoption across various industries is expected to drive segment growth further. The drive-in racking system held the second-largest share in 2024, supported by increasing demand for high-density storage solutions. By eliminating aisles, this system enables the storage of large quantities of similar products in limited space, offering an efficient solution for maximizing warehouse capacity.

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Application Insights

By application, the retail segment led the market in 2024, securing the largest revenue share at 35.4%. This dominance is attributed to the rising number of warehouses, supermarkets, hypermarkets, and other retail facilities. The use of various racking systems allows retail warehouses to optimize storage and streamline product organization. In the food & beverage sector, high-density storage solutions are essential, enabling goods to be stored at multiple levels using rail-based systems. Ongoing investments and expansion projects in food & beverage warehouses and distribution centers worldwide are further accelerating this segment’s growth.

Regional Insights

North America emerged as the leading region in the warehouse racking market, holding a 27.8% revenue share in 2024. This leadership is attributed to the region’s early adoption of racking systems. The rising demand for fully automated warehouse facilities is expected to unlock significant market opportunities in the coming years. Additionally, the expansion of e-commerce platforms continues to drive demand for enhanced warehouse infrastructure across the region. Increased construction of warehouse facilities and the replacement of outdated storage technologies are likely to support further market growth.

Leading Warehouse Racking Companies

Key players shaping the global warehouse racking market include:

Daifuku Co., Ltd.
Mecalux S.A.
Kardex Group
Hannibal Industries, Inc.
Emrack International
Jungheinrich AG
AK Material Handling Systems
SSI Schaefer Group
Dematic

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