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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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 Investment Chapter

Compared with the rest of the farming sector, capitalization in the Corn Farming industry is high. Tractors, combines and storage mills are common features on corn farms and are treated as depreciable assets. According to the 2012 Agricultural Census (the latest data available), the plant and machinery on the average corn farm are worth $326,327. This figure is significantly higher than the crop farming sector average of $154,425. Much of the equipment purchased comprises start-up costs, which creates a barrier to entry for potential corn farmers. However, if an established farmer chooses to include corn into his crop rotation, many of these initial capital investments will be avoided.

Labor intensity fluctuates in response to changing industry and economic conditions... 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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