Industry Analysis & Industry Trends
The overall industry is forecast to continue growing at a moderate rate over the next five years. Demand for hay will increase as cattle farmers switch to hay for cattle feed, while organic hay continues to become increasingly popular as consumers opt for organic beef. Consumer preferences will also dictate growth in the sugar beet segment as soda and snack manufacturers opt for processed sugar over high-fructose corn syrup... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Hay and Crop Farming industry is in a mature phase of its life cycle. Industry value added (IVA), which represents the industry's contribution to the US economy, is expected to grow at an average annual rate of 6.5% over the 10 years through 2019. Meanwhile, GDP is forecast to grow at an average annual rate of 2.5%. Each segment grows at a varying rate due to individual crop prices, yields and downstream demand.
The hay segment will continue to grow, as it reflects steady demand from the livestock industry. While it has grown rapidly in size of the past five years, revenue from the hay segment is expected to slow down over the next period... purchase to read more