Industries with the Biggest Decline in Imports Global in 2024

1. Global Plastic Product & Packaging Manufacturing

Decline in Imports for 2024: -11.4%

The Global Plastic Product and Packaging Manufacturing industry has experienced mixed results over the five years to 2023. It has benefited from increasing plastic consumption worldwide, as rising capacity worldwide has resulted in solid growth in overall plastic production. Plastic goods are substituted for materials like wood, paper, metals, and glass, which are often more price competitive while offering better performance. Because of rising consumption and production during most of the current period, industry revenue has been expanding an annualized 2.3%, and is expected to reach $699.3 billion in 2023. This increase in revenue was decelerated by a dramatic drop... Learn More

2. Global Sugar Manufacturing

Decline in Imports for 2024: -5.3%

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 Beer Manufacturing

Decline in Imports for 2024: -3.4%

The Global Beer Manufacturing industry has struggled due to shifts in its structure over the past five years. Rising disposable income during most of the period and consumers' shift from traditional products to higher-quality beer has underpinned rising beer consumption and strong volume growth in emerging markets. But declining per capita beer consumption and relatively flat volume growth have hampered revenue across China and traditional North American and European markets. This has been ameliorated by growth in high-value craft beers and foreign brands over the past five years. The coronavirus also contributed to industry difficulties, as demand from bars and... Learn More

4. Global Fertilizers & Agricultural Chemicals Manufacturing

Decline in Imports for 2024: -3.1%

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

5. Global Candy & Chocolate Manufacturing

Decline in Imports for 2024: -0.5%

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

6. Global Iron Ore Mining

Decline in Imports for 2024: -0.5%

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 Respiratory Ventilator Manufacturing

Decline in Imports for 2024: 0.2%

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 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, early in the pandemic, it was... Learn More

8. Global Spirits Manufacturing

Decline in Imports for 2024: 0.5%

The Global Spirits Manufacturing industry has benefited from premiumization trends in both developed and emerging economies over the past five years. Emerging markets like China and India have picked up the slack from declines in Eastern Europe resulting from political tensions and government intervention. Spirit consumption in emerging markets has flourished alongside population growth and urbanization, while consumers in developed economies have spent more on spirits by trading up to premium products. The rising trend of ready-to-drink cocktails has fueled growth in developed economies, staving off competition from substitute beverages like wine and beer. Over the past five years, revenue... Learn More

9. Global Soft Drink & Bottled Water Manufacturing

Decline in Imports for 2024: 1.0%

The Global Soft Drink and Bottled Water Manufacturing industry has experienced obstacles stemming from mature markets, leading to an overall contraction. Due to growing health concerns, consumers in both North America and Europe have curbed their intake of sugary beverages, such as carbonated soft drinks, fruit juices and traditional sports drinks. Bottled water consumption has also wavered in recent years due to concerns over the environmental footprint of plastic bottles. Nonetheless, the strengthening economies of the BRIC nations, which include Brazil, Russia, India and China, in addition to countries in Asia, Latin America and the Middle East have supported the... Learn More

10. Global Milk & Cream Manufacturing

Decline in Imports for 2024: 1.7%

Solid economic growth in the growing economies of Asia and South America, alongside rising global per capita income, has led to consistent growth in global demand for milk and dairy products. Even amid the outbreak of COVID-19, production climbed. Rising input costs forced manufacturers to hike prices, contributing to considerable revenue growth. While milk prices have increased, profit has only inched up because of rising input costs. Industry-wide revenue has been growing at a CAGR of 7.2% over the past five years and is expected to total $889.4 billion in 2023, when revenue will drop by an estimated 4.9%.

China and... Learn More