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Soybean Farming in the US: Market Research Report

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

Soybean Farming Market Research Report | NAICS 11111 | Apr 2016

Hill of beans: Competition from foreign producers threatens industry growth

IBISWorld’s Soybean 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
$35bn
Annual Growth 11-16
-0.3%
Annual Growth 16-21
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Profit
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Employment
103,567
Businesses
100,200
Industry Analysis & Industry Trends

The Soybean Farming industry experienced a volatile five years to 2016. Industry revenue grew immensely during the beginning of the period, lifted by skyrocketing oilseed prices. The rising demand for food from developing countries has supported industry exports, however the appreciating US dollar has kept exports steady. Meanwhile the rapid expansion of biofuel production spurred demand for soybeans at home. In addition, a surge in foreign inventory is responsible for the United States' declining share of global exports. During the next five years, soybeans are anticipated to maintain their position as the second-largest crop in the United States, behind corn... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Soybean Farming industry is overwhelmingly characterized by family-held individual farms. In most cases, soybean producers operate as partnerships and sole proprietors rather than corporations. Despite some farm consolidations, the industry remains fragmented. According to the US Department of Agriculture, the average soybean farm generates about $67,333 in soybean sales a year.

There is a long-term trend toward fewer farms across the agricultural sector, and this applies to the Soybean Farming industry as well. This trend is a result of rising costs and competition that make it difficult for smaller farms to succeed. Owners of these small farms are forced to form cooperatives or sell their land... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Soybean Farming Industry?

Farms in this industry grow soybeans as their main crop. Soybeans are most often used in livestock feeds and vegetable oils, with a small but growing proportion being used in biofuel production. Establishments that sell soybean seeds to US farmers for growing crops are also included.

Industry Products
Soybean mealSoybean oilSoybean hulls
 
Industry Activities
Soybean farmingSoybean seed production


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