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: -5.4%
The Global Investment Banking and Brokerage industry is expected to perform well over the five years to 2021, despite the COVID-19 (coronavirus) pandemic causing economic fallout. Between 2016 and 2019, the industry experienced revenue growth as a result of global economic growth. However, geopolitical tensions did weigh down on advisory service revenue. The industry is anticipated to grow an annualized 3.4% to $313.3 billion over the five years to 2021, with the majority of this growth expected to come from growth over 2020. Revenue from the industry's debt and equity underwriting segments increased drastically over 2020 as companies and governments... Learn More
2021-2022 Revenue Growth: -3.8%
The Global Reinsurance Carriers industry has encountered significant challenges over the five years to 2021. Some challenges include an operating landscape consisting of a soft pricing cycle, low interest rates, an increased occurrence of natural disasters and a global pandemic. All of these factors have contributed to the industry's poor performance. As a result, industry revenue is expected to decline at an annualized rate of 1.6% to $228.1 billion over the five years to 2021, including a decline of 5.5% in 2021 alone. This decrease in 2021 can be mainly attributed to the ongoing COVID-19 (coronavirus) pandemic. As businesses and... 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: -1.0%
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 2021. 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 available online and for free, has threatened the traditional position of magazines. In addition to competition from online media, industry 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 sell... 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: 0.7%
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: 0.7%
The Global Insurance Brokers and Agencies industry plays a critical role in the insurance market by distributing policies and consulting insurance underwriters and consumers. Given the transaction-based nature of the industry, revenue primarily depends on three factors, which include policy pricing, demand for insurance and the popularity of using agents and brokers in the distribution process. The industry has been hindered from the global economic uncertainty that has been caused by the COVID-19 (coronavirus) pandemic. Overall, industry revenue is anticipated to fall an annualized 2.1% to $459.6 billion over the five years to 2021, along with a marginal decline of... 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
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