Global Fastest Declining Industries by Revenue Growth (%) in 2024

1. Global Cargo Airlines

2024-2025 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

2. Global Sugar Manufacturing

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

3. Global Commercial Printing

2024-2025 Revenue Growth: -2.1%

Commercial printers have endured a contraction, with poor performance in the world's developed markets being partially offset by growth 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. Online adoption and technologies like smartphones and tablet devices have constrained potential gains and diminished profitability. However, continued growth in sales of printed products in emerging markets has benefited the industry, alongside a growing focus on digital printing. Revenue is expected to contract at a CAGR of 2.3%... Learn More

4. Global Newspaper Publishing

2024-2025 Revenue Growth: -1.6%

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

5. Global Fertilizers & Agricultural Chemicals Manufacturing

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

6. Global Iron Ore Mining

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

7. Global Commercial Real Estate

2024-2025 Revenue Growth: -0.2%

The Global Commercial Real Estate industry has declined over the past five years. Specifically, investor confidence slightly declined over the same period as COVID-19 severely constricted demand. As a result, industry revenue is expected to slightly decline an annualized 2.5% to $4.3 trillion over the five years to 2023, including an anticipated increase of 1.6% in 2023 as the economy recovers from the coronavirus pandemic.

The growth of a country's economy tends to boost industry revenue since business expansions and higher consumer spending often creates demand for industry services, such as office leasing, sales and brokerage services. The strong expansion of... Learn More

8. Global Candy & Chocolate Manufacturing

2024-2025 Revenue Growth: -0.1%

The Global Candy and Chocolate Manufacturing industry has enjoyed growth over the five years to 2023, though much of the growth was price based. Rising cocoa and sugar prices have forced manufacturers to pass some of these costs onto consumers, propping up growth. Even amid the outbreak of COVID-19 in 2020, these prices climbed. Acquisition activity from the industry's largest manufacturers has enabled them to gain market share by expanding their product offerings. Industry-wide revenue has grown at a CAGR of 0.5% to $242.5 billion over the five years to 2023, including an estimated 1.3% jump in 2023 alone, when... Learn More

9. Global Sports Betting & Lotteries

2024-2025 Revenue Growth: 0.7%

The Global Sports Betting and Lotteries industry consists of operations providing gambling services, including horse race betting, sports betting and lottery contests. The industry has endured severe turbulence through 2023, especially during the pandemic. Growing demand for betting, easing regulations and rising per capita disposable income buoyed the industry. Even so, the pandemic cratered demand in 2020, causing the industry to drop at an expected CAGR of 0.7% to $242.0 billion through the current period. The industry has recovered, growing 2.8% in 2023 as restrictions subside. Profit will also recover from the downturn, jumping to 14.1%.

The industry's segments, which include... Learn More

10. Global Advertising Agencies

2024-2025 Revenue Growth: 0.9%

Global advertising agencies advise, plan and create advertising campaigns, which are then strategically distributed through various media outlets. Over the five years to 2023, the industry fared relatively well because of the proliferation of digital media, which has expanded agencies' access to their target audiences, despite COVID-19. Rising consumer spending and growing global economic activity have also caused demand from downstream industries to increase over the past five years. Global advertising expenditure is projected to rise at an annualized rate of 5.8% over the five years to 2023, driving industry growth. Consequently, industry revenue has been increasing at an annualized... Learn More