The Dairy Product Production industry consists of operators that manufacture a wide variety of dairy goods and then supply them to downstream markets, such as wholesalers, retailers and food service establishments.

Industry revenue performance has been volatile but has declined overall.

Volatility in the industry has also been due to large fluctuations in the price of raw, or unprocessed, milk.

Thus, industry revenue has declined at an annualized rate of 0.3% to $111.2 billion over the five years to 2021, including a decline of 0.3% in 2021 alone due to the lingering impact of the COVID-19 (coronavirus) pandemic creating unfavorable economic conditions.

The pandemic has reduced demand from wholesalers and food service establishments, although research anticipates this will rebound during the outlook period.

The Data Processing and Hosting Services industry provides infrastructure used for a variety of information technology (IT)-related activities, ranging from online hosting to automated data entry services.

Over the five years to 2021, businesses have increasingly outsourced their IT infrastructure needs, directly benefiting industry operators.

The advent and popularization of cloud computing, one of the industry’s fastest-growing product offerings, has similarly led to greater demand.

As a result, the industry has fared well during the majority of the five-year period, with revenue expected to grow at an annualized rate of 5.0% to $196.5 billion.

However, the COVID-19 (coronavirus) pandemic is expected to lead to a decline in business investment in industry services, although this was tempered somewhat by increased usage of industry services in other capacities.

Industry revenue is expected to increase 1.7% in 2021, as the overall economy recovers from the economic fallout of the coronavirus pandemic.

Profit is expected to decline slightly over the five years to 2021, as growth earlier in the period is countered by declines in later years.

Over the five years to 2021, online media has challenged many traditional alternatives to billboards, such as newspapers and magazines, slowly seeping into billboard advertising as well.

Nonetheless, buoyed by growth in advertising expenditure and an uptick in business formation, advertisers have continued to value Billboard and Sign Manufacturing industry products as a way to reach mass audiences in an increasingly fragmented media landscape, benefiting demand for the industry.

Nonetheless, the effects of the COVID-19 (coronavirus) pandemic undermined industry revenue in 2020 as downstream demand declined broadly.

As a result, industry revenue is expected to decline an annualized 3.1% over the five years to 2021.

Notably, while nonresidential construction spending has largely risen during the current five-year period, boosting demand for general signage from commercial, public and institutional facilities, it has contract significantly since 2020.

However, as the pandemic begins to subside, industry revenue is expected to increase 3.4% to $13.2 billion.

Despite heightened import competition, the Blind and Shade Manufacturing industry has declined over most of the five years to 2021.

Similar to other producers of household goods, the industry has experienced volatility during the period.

While building markets have grown strongly since the previous economic downturn, consumers have remained fiscally hesitant, looking for ways to cut costs.

Many existing homeowners have not upgraded blinds and shades while some new homebuyers have opted for less expensive imports, stunting growth even as construction markets have risen.

Over the five years to 2021, the Brand Name Pharmaceutical Manufacturing industry has experienced several new drug launches, with nearly 50 new active substances launched in 2019 alone.

According to research by Informa PLC, the number of new drug launches in 2019 was more than double the number launched in 2016, with many new drug launches focusing on rare diseases and oncology.

Given increasing price scrutiny, competition from generics, intensifying market competition among brand-name producers and rising research and development (R&D) expenses, many manufacturers have shifted their strategic focus to more lucrative therapy areas, such as rare diseases and oncology.

As a result, many operators pivoted their pipelines to rare diseases, in which low prescription volumes can be offset by high per unit costs and benefit from orphan drug exclusivity, which grants longer patent exclusivity in the United States and the European Union.

Carbon fiber is a strong, extremely lightweight composite material that can be molded to take on a permanent shape.

Carbon fiber has many useful properties which make it a go-to in a wide range of applications.

These include corrosion-resistance, low upkeep, excellent durability, high stability and a high level of design freedom.

Demand for carbon fiber on an organic basis has grown significantly over the five years to 2021 and is likely to continue growing robustly over the five years to 2026.

However, Carbon Fiber and Graphene Manufacturing industry operators experienced declines in 2020 amid the COVID-19 (coronavirus) pandemic.

As consumer spending on air travel declined amid the pandemic, industry revenue followed.

During 2020, domestic trips taken by US residents is anticipated to have declined 59.5%.

Industry revenue is anticipated to follow, declining 16.0% in 2020.

Due to coronavirus-related volatility, overall revenue for the Carbon Fiber and Graphene Manufacturing industry is forecast to decline at an annualized rate of 0.5% to $1.7 billion over the five years to 2021, including an expected growth of 6.4% in 2021.

The Ceramics Manufacturing industry produces a diverse mix of products, including advanced and technical ceramics, plumbing fixtures, kitchenware, pottery products and lightweight body armor.

This industry has contended with high import competition, which has been exasperated by increases in the trade-weighted index and weakened demand from the Semiconductor and Circuit Manufacturing industry.

However, growth in housing starts and increased demand from automobile electronics manufacturing have supported revenue growth.

Over the five years to 2021, industry revenue is expected to increase at an annualized rate of 1.8% to $2.6 billion.

This includes a 6.6% decrease in revenue in 2020 caused by the COVID-19 (coronavirus), which has greatly reduced downstream demand in construction and housing markets, as well as exports.

Nevertheless, research anticipates industry revenue to rebound 4.3% in 2021 alone.

Furthermore, overall import competition is expected to remain high during the current period, with imports expected to account for 81.3% of domestic demand in 2021.

Additionally, industry profit is expected to remain steady during the current period.

Changing consumer trends and economic growth have translated into pressured demand for cereal over the five years to 2021.

Low-carb diets have grown increasingly popular, limiting the number of consumers buying cereal, while other health-conscious consumers are only interested in cereals made with healthy ingredients.

Moreover, industry revenue has been pressured as consumers have leveraged their rising disposable incomes to indulge in premium breakfast foods, such as breakfast sandwiches from restaurants.

Consumer preferences are increasingly shifting toward convenient and portable foods as free time becomes more limited, also hampering demand for industry products.

Nevertheless, cereal popularity has grown in recent years, particularly amid stay-at-home orders during the COVID-19 (coronavirus) pandemic.

Consequently, industry revenue has increased at an annualized rate of 2.2% to $11.5 billion over the five years to 2021, including an increase of 0.7% in 2021 alone.

Positive trends in demand variables and near constant demand from poultry processors have been outweighed by the price of poultry meat declining over the five years to 2021.

However, increased demand for chicken as a substitute for other meats, particularly red meat, has also helped limit revenue declines.

In addition, increasing health consciousness among US consumers has boosted consumption of white meat in general.

However, in 2015, the price of poultry meat began to decline significantly as the price of feed plummeted.

As feed is the largest input cost for meat producers, the price of feed is directly tied to the price of meat, including poultry and substitutes, such as beef and pork.

This decline has made the industry more competitive.

Industry revenue has decreased at an annualized rate of 3.4% to $29.6 billion over the five years to 2021.