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 2024
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View a list of the Top 25 fastest declining industries2024-2025 Revenue Growth: -17.3%
Global cargo airlines' revenue has grown at a CAGR of 1.9% to $149.4 billion through the end of 2023, including a 28.8% decline in 2023 alone, driven by plummeting shipping prices. Revenue has been highly volatile in recent years; COVID-19's effect on the global economy delayed shipments and disrupted supply chain disruptions, particularly for perishable goods. The war in Ukraine has also hurt cargo capacity serving the European market. Increased demand for personal protective equipment and reduced shipping capacity have led the freight price index to skyrocket following COVID-19. Profit has declined to 4.6% in 2023 due to reduced shipping... Learn More
2024-2025 Revenue Growth: -13.9%
The Global Oil and Gas Exploration and Production industry has gone through major turbulence over the five years to 2023. The COVID-19 pandemic and accompanying socioeconomic restrictions significantly disrupted macroeconomic activity, leading to tremendous volatility within global energy markets. Industry revenue fell to multi-decade lows in 2020 before reaching all-time highs in 2022 as production and prices of hydrocarbons were completely unstable. Industry revenue has increased at a CAGR of 9.6% to $5.3 trillion over the five years to 2023, despite a decline of 19.8% in 2023 alone. During this time, the United States has emerged as a key player... Learn More
2024-2025 Revenue Growth: -3.5%
Global sugar manufacturers have endured fluctuations in global sugar prices over the five years to 2023. Nonetheless, global sugar manufacturers' revenue is anticipated to strengthen at a CAGR of 4.4% to $78.1 billion over the five years to 2023, including a boost of 0.5% in 2023.
Brazil is very influential to the industry's health. The country produces and exports the most sugar of any nation and is also the second-largest producer of ethanol, which is often produced from sugarcane. As energy prices have strengthened over the past five years, Brazil has expansively diverted more of its sugar stock toward ethanol production.... Learn More
2024-2025 Revenue Growth: -3.2%
The Global Movie Production and Distribution industry, the success of which hinges on the discretionary spending of moviegoers, has grappled with production disruptions and the transition to digital content. The North American, European and North Asian markets account for more than four-fifths of global revenue, and when disposable income and leisure time decline, so too does movie revenue. The COVID-19 pandemic rattled movie production, grinding production to a halt across the world as global revenue was reduced by one-third in 2020. Despite a rapid rebound, the operating difficulties wrought by the pandemic have remained and the digital transition has continued... Learn More
2024-2025 Revenue Growth: -3.0%
Global newspaper publishers are highly susceptive to macroeconomic trends, as consumers tend to reduce subscriptions during volatile periods and advertisers tend to withdraw or limit spending when times are uncertain. Still, regardless of economic performance, global newspaper publishers have experienced decades or near-steady declines, as consumers increasingly obtain news from other media outlets, including television and streaming shows, online video platforms, podcasts, radio and online-only newspapers. As a result, over the past five years, revenue has been declining at a CAGR of 4.6% and is expected to reach $84.5 billion in 2023, when revenue is estimated to fall 2.2%.
As more... Learn More
2024-2025 Revenue Growth: -2.6%
The industry has struggled to adapt to the challenges and opportunities presented by digital disruption and economic shifts in recent years. 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. Magazine circulation has remained relatively steady, and newsstand sales have declined in developed economies, leaving publishers to sell heavily discounted subscriptions to bolster their audience and maintain value for advertisers. Global magazine and periodical publishing revenue is expected to dip at... Learn More
2024-2025 Revenue Growth: -2.4%
Ship and boat builders have operated through unfavorable global economic conditions in recent years. These companies build ships and boats ranging from large container ships and tankers to yachts and speedboats. An economic downturn stemming from a commodity price collapse led to overcapacity and shrunk new orders leading into the period. As commodity prices normalized, orders grew and revenue began to rebound, but volatility has continued. Revenue is expected to grow at a CAGR of 3.4% to $168.4 billion over the five years to 2023.
The global economy grew between 2015 and 2019, but demand for new ships lagged behind. Overcapacity... Learn More
2024-2025 Revenue Growth: -1.7%
Global computer hardware manufacturers produce a diverse range of products, including desktop and laptop personal computers (PCs), computer peripherals and storage devices. Through the current period, competing trends have defined performance. Growing competition from tablet devices and mobile phones has eroded demand for traditional PCs worldwide, culminating in declining PC shipments despite robust demand during the pandemic. Price competition has also limited manufacturers' potential. Industry revenue has been contracting at a CAGR of 1.2% over the past five years, and is expected to reach $274.1 billion in 2023. This includes a 0.3% drop in 2023.
Portability is a focal point for... Learn More
2024-2025 Revenue Growth: -1.5%
The Global Fertilizers and Agricultural Chemicals Manufacturing industry produces synthetic fertilizers, pesticides, and other agricultural chemicals. Therefore, the industry plays an essential role in ensuring that the world's agricultural production systems are economically efficient in the short term and sustainable in the long term. Industry growth trends are led by three main drivers: feed, food, and biofuels.
Leading up to the reporting period, fertilizer and agrochemical demand increased in both traditional and emerging markets, where food pressures have led to calls for higher agricultural productivity and crop yields. However, growing commodity prices, particularly during COVID-19, have supported revenue. In particular, fertilizer... Learn More
2024-2025 Revenue Growth: -0.8%
Global iron ore mining performance has been strong through the end of 2023. Industry revenue is a function of global demand conditions and volatility in the world price of iron ore throughout the period has led to several years of double-digit rises. Global iron ore mining revenue has been surging at a CAGR of 8.1% over the past five years and is expected to total $305.1 billion in 2023, when revenue will fall by an estimated 7.1% This five-year overall growth can be mainly attributed to the recovering demand trends after the peak of the COVID-19 pandemic. This rise in... Learn More
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