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Corn Farming in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Corn Farming Market Research Report | NAICS 11115 | Jul 2014

Parched corn: Mandates for biofuel and steady demand will benefit the industry in due time

IBISWorld’s Corn Farming market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$63bn
Annual Growth 09-14
4.2%
Annual Growth 14-19
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Profit
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Employment
280,295
Businesses
158,397
Industry Analysis & Industry Trends

Over the past decade, corn has become the cash crop of the 21st century. The crop's popularity has been facilitated by federal mandates for ethanol use that are designed to reduce the United States' foreign oil dependency. With rising demand, the adoption of genetic modification (GM) technology has helped farmers heighten yields. Furthermore, both domestic and global demand growth exceeded the rise in supply, resulting in price increases and improved profitability for growers. While industry revenue is expected to fall over the five years to 2019, the long-term future for corn farmers is expected to be positive, since demand is anticipated to keep growing as renewable energy targets rise each year... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

Over the past five years, increasing demand from ethanol manufacturers and adoption of genetically modified (GM) seeds revitalized the Corn Farming industry. Nevertheless, IBISWorld projects that industry value added, a measure of the industry's contribution to the economy, will fall at an average annual rate of 1.6% over the 10 years to 2019. The price of corn, which has skyrocketed in the past few years, is expected to fall and level out, causing overall revenue to decline, bringing down IVA's overall value. Similarly, a reduction in federal payments to farmers is expected to temper profit margins in the coming years. In comparison, US GDP is expected to grow an annualized 2.5% in the 10 years to 2019... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Corn Farming Industry?

Operators in this industry primarily grow corn (except sweet corn) and produce corn seeds. Corn commonly refers to the grains or kernels of the tall annual cereal grass, Zea mays, and is a staple cereal in many parts of the world. In the United States, it is most commonly used as livestock feed and in the production of ethanol, sweeteners, oil and other products.

Industry Products
Corn used in livestock feedCorn seeds for sowingCorn used in food and alcoholCorn used in biofuel production
 
Industry Activities
Growing a variety of corn (except sweet corn)Producing corn seeds


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