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: -0.4%
The Global Newspaper Publishing industry has endured rising external competition from digital media, which has lowered the industry's revenue base over the five years to 2021. The explosion of online news outlets, fueled by the rapid adoption of mobile devices and high-speed internet, has attracted a greater share of advertising spending, which until recently was the industry's primary revenue stream. Readers are also opting for free articles that have been able to capture younger demographics, particularly in mature economies. Moreover, the onset of the COVID-19 (coronavirus) pandemic accelerated the trend toward a digital environment, further reducing demand for traditional print... 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
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: 1.8%
The Global Candy and Chocolate Manufacturing industry is expected to endure a decline in revenue over the five years to 2020 as product prices decline alongside volatile global economic conditions. Chocolate consumption has remained strong in developed markets, such as Europe and North America, but sugar confectionery consumption has declined as health consciousness has driven more consumers away from sugar products. Moreover, the decline in the world prices of sugar and cocoa have led prices of products to decline during the period, which has placed downward pressure on revenue and profit. However, growth in global demand for chocolate and increased... Learn More
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