President Biden is facing a decline in support from crucial voter demographics that are essential for his hopes of winning a second term in the upcoming presidential election later this year, according to a recent USA Today/Suffolk University poll released on Monday.

The poll indicates that Biden's support among Black voters has plummeted to 63%. This marks a significant drop from the 92% support he garnered among Black voters in the 2020 presidential election, as indicated by Pew Research Center data. Similarly, his support among Hispanic voters has dipped to 34%, down from 59% in the previous election.

Moreover, the poll highlights that Biden is trailing behind his likely Republican opponent and former President Donald Trump among voters under the age of 35. Trump leads Biden with 37% support, while Biden lags behind at 33%.

While the decline in support may be cause for concern for the Biden camp, the poll reveals that most of the lost support seems to shift towards third-party candidates rather than Trump. Nevertheless, this still gives the former president an advantage in the race.

In the poll's scenario with unnamed third-party candidates, Trump maintains a lead over Biden by 39% to 37%, with the third-party candidate receiving 17% support. When specific third-party candidates are mentioned, Trump's lead narrows slightly to 37% against Biden's 34%, while independent presidential candidate Robert F. Kennedy, Jr. garners 10% support.

A significant portion of Black and Hispanic voters, comprising 20% of each demographic, expressed their preference for a third-party candidate over Trump or Biden. Similarly, 21% of young voters shared the same sentiment.

The poll also highlights a notable enthusiasm disparity between Trump and Biden supporters. Among Trump's supporters, 44% described themselves as having the highest level of enthusiasm, rating their support as a perfect 10. In contrast, only 18% of Biden supporters claimed the same level of enthusiasm.

In terms of party support, Trump continues to maintain a commanding lead among likely primary voters, with 62% of Republicans voicing their support for him. This places him far ahead of other potential Republican candidates such as Nikki Haley, Ron DeSantis, Vivek Ramaswamy, and Chris Christie.

Biden, on the other hand, fares well within his own party, obtaining an impressive 74% of support among likely primary voters. Author Marianne Williamson follows behind with 9% support, followed by Minnesota Rep. Dean Phillips with 2%.

The overall approval rating for President Biden's job performance stands at 39%, while 58% of voters express their disapproval. Vice President Harris' approval rating is slightly lower, at 33%, with a disapproval rate of 57%.

These disappointing numbers for Biden come amidst concerns from pundits and experts within his own party, including Democrat strategist James Carville and former Obama administration official David Axelrod, who have raised alarms about the possibility of Trump reclaiming the White House.

According to David Faris, a political science professor at Roosevelt University, the current polling environment for Biden is extremely unfavorable. He suggests that the historically low polling numbers should "panic" the Democratic party as they approach the 2024 election.

As of now, Fox News Digital has reached out to the Biden campaign for comment on the poll's findings.

For the latest updates, exclusive interviews, and more from the 2024 campaign trail, visit our Fox News Digital election hub.