Based on the expert analysis and our database of 70+ Global industries, IBISWorld presents a list of the Fastest Declining Industries Global by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest declining industries2021-2022 Revenue Growth: -13.3%
Products produced by the Global Respiratory Ventilator Manufacturing industry have long been a staple of the global healthcare sector. Demand for ventilators has historically been stable since they are a life-saving device for patients with limited breathing function. While hospitals do not usually need a significant number of ventilators, the COVID-19 (coronavirus) pandemic has caused demand for ventilators to skyrocket in 2020. Patients with severe coronavirus symptoms often need to be ventilated because their lungs become so inflamed that they are unable to provide the body with enough oxygen. While ventilation is not always successful, at this stage of the... Learn More
2021-2022 Revenue Growth: -1.7%
The Global Magazine Publishing industry has struggled to adapt to the challenges and opportunities presented by digital disruption and economic shifts over the five years to 2019. While there is no shortage of consumer demand for magazines' core offerings of news and information, the proliferation of new forms of media, with many of them available online and for free, has threatened the traditional position of magazines. In addition to competition from online media, operators have struggled to adopt successful digital monetization strategies. Furthermore, while magazine circulation has remained relatively steady, newsstand sales have declined in developed economies, leaving publishers to... Learn More
2021-2022 Revenue Growth: -1.0%
The value of the Global Cheese Manufacturing industry has grown over the five years to 2020, primarily as a result of stable demand for dairy products, improved per capita consumption of cheese worldwide and continued product innovation. Overall, IBISWorld estimates that industry revenue has increased an annualized 2.6% to $119.0 billion over the five years to 2020. While the industry has performed well over the years leading up to the reporting period, a steady rise in the price of milk has placed upward pressures on cheese prices. In addition, a depreciating euro during the majority of the period cut into... Learn More
2021-2022 Revenue Growth: -0.5%
The Global Computer Hardware Manufacturing industry produces a range of products, including desktop and laptop personal computers (PCs), computer peripherals and storage devices. Over the five years to 2020, competing trends have defined the industry's performance. Growing competition from tablet devices and mobile phones has eroded demand for traditional PCs worldwide, culminating in a decline in PC shipments globally over the past five years. Furthermore, the industry's price competition has limited manufacturers' revenue potential. Compounded, industry revenue is projected to decline at an annualized rate of 8.7% to $220.3 billion over the five years to 2020, with an expected 11.3%... Learn More
2021-2022 Revenue Growth: -0.4%
The Global Newspaper Publishing industry has endured rising external competition from digital media formats, which has lowered the industry's revenue base over the five years to 2020. The explosion of online entertainment and news, fueled by the rapid adoption of mobile devices and high-speed internet the world over, has attracted a greater share of advertising spending, which until recently was the industry's principal revenue stream. Readers are also opting for free news articles that have been able to capture younger demographics, particularly in mature economies. Over the five years to 2020, industry revenue is expected to decline an annualized 7.6%... Learn More
2021-2022 Revenue Growth: -0.1%
Over the five years to 2020, revenue for the Global Commercial Printing industry has experienced steady growth, with poor performance in the world's developed markets counteracted by strong performance in developing markets. Developed markets have contended with high levels of market saturation and an increased preference among consumers for digital media, which has cut into demand for publishing, a key downstream industry for printers. While a growing global economy over the past five years has improved demand conditions, online adoption and new technologies such as smartphones and tablet devices have constrained potential gains and diminished profitability. However, continued growth in... Learn More
2021-2022 Revenue Growth: 0.7%
The Global Life and Health Insurance Carriers industry has decreased over the five years to 2020 despite growth in global demand for insurance products. The industry provides crucial risk management services to downstream consumers and is a vital part of the financial sector, particularly with respect to the industry's massive asset holdings. Industry operators protect individuals from current, immediate and long-term costs arising from illness, injury and death. Life and health insurers provide protection at a fraction of the potential loss by merging various risks. The role of life and health insurers has become increasingly important as the global population... Learn More
2021-2022 Revenue Growth: 0.8%
The Global Sugar Manufacturing industry has experienced massive fluctuations in global sugar prices over the five years to 2021. Prices temporarily recovered from a decade low in 2016, but decreased steadily throughout the period as increased production from developing nations flooded the market. As a result, industry revenue is anticipated to decrease an annualized 6.5% to $55.5 billion over the five years to 2021. This includes a decline of 1.0% in 2021 as scarcity in production due to the COVID-19 (coronavirus) pandemic is expected to have caused a temporary increase in the price of sugar over 2020, which will fall... Learn More
2021-2022 Revenue Growth: 0.9%
Over the five years to 2020, the Global Military Shipbuilding and Submarines industry has expanded, tempered by pressured defense spending in Europe and the United States during the first half of the period. Western governments make up the largest market for industry operators, which design, build, repair, maintain and overhaul naval vessels ranging from aircraft carriers to submarines. While the growth in industry from western governments was slow at the beginning of the current period as a result of high government debt levels that constrained defense spending, recent global geopolitical tensions brought national security to the forefront of government priorities.... Learn More
2021-2022 Revenue Growth: 0.9%
The Global Iron Ore Mining industry's financial performance has been strong over the five years to 2020. Industry revenue is a function of global demand conditions, and the volatility in the world price of iron ore during the period has led to several years of double-digit rises. Due to steady growth in global production and demand, industry revenue is projected to increase an annualized 9.5% to $217.3 billion over the five years to 2020, with an estimated decline of 8.3% in 2020 alone. The decline in 2020 can be mainly attributed to the COVID-19 (coronavirus) pandemic, which has caused a... Learn More
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