Global Fastest Declining Industries by Revenue Growth (%) in 2025

1. Global Commercial Printing

2025-2026 Revenue Growth: -5.0%

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

2. Global Iron Ore Mining

2025-2026 Revenue Growth: -4.8%

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

3. Global Newspaper Publishing

2025-2026 Revenue Growth: -2.2%

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

4. Global Sugar Manufacturing

2025-2026 Revenue Growth: -2.1%

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

5. Global Coal Mining

2025-2026 Revenue Growth: -1.6%

Coal mined by global coal mining companies plays a vital role in the world's ability to generate electricity and manufacture steel. Coal's position in global electricity markets stems from its relative accessibility, affordability and distribution across the globe. The world's largest coal producers are China, the United States and India, with these countries expected to retain their positions for the foreseeable future. Global coal mining revenue is a function of global production of coal mined products alongside global coal prices, with prices being closely tied to global economic conditions. Over the five years to 2023, prices of thermal and coking... Learn More

6. Global Oil & Gas Exploration & Production

2025-2026 Revenue Growth: -1.3%

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

7. Global Magazine Publishing

2025-2026 Revenue Growth: -1.0%

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

8. Global Investment Banking & Brokerage

2025-2026 Revenue Growth: -0.5%

Investment bankers and brokers are expected to perform well throughout 2023, despite the COVID-19 pandemic causing economic fallout. The industry is anticipated to grow at a CAGR of 1.6% over the past five years and is expected to total $339.4 billion in 2023, when revenue will fall by an estimated 1.0%. Revenue from the industry's debt and equity underwriting segments increased drastically over 2020 and 2021 as companies and governments needed to raise cash quickly. In addition, economic uncertainty spiked as a result of health policy measures implemented by governments leading to increased market volatility. As a result, investors repositioned... Learn More

9. Global Candy & Chocolate Manufacturing

2025-2026 Revenue Growth: -0.4%

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

10. Global Cigarette & Tobacco Manufacturing

2025-2026 Revenue Growth: 0.2%

Producers in the Global Cigarette and Tobacco Manufacturing industry have contended with declining tobacco consumption in many developed countries worldwide. This has been the main threat to the industry's performance as awareness of the effects of tobacco consumption has intensified. Despite lower global volume sales in developed countries, tobacco manufacturers have maintained revenue growth by successfully raising prices on tobacco products. Furthermore, rising consumption in certain emerging markets has helped drive revenue and maintain increased profit. As a result, industry revenue is anticipated to grow at a CAGR of 0.9% to $569.2 billion over the five years to 2023, with... Learn More