Take the field: Industry demand is expected to bounce back from recent declines

The Corn Farming industry declined over the five years to 2018, falling from historic highs. The Energy Policy Act of 2005 provided the impetus for the United States to begin weaning itself off its heavy dependence on foreign oil and to begin using corn as a renewable energy source to make ethanol instead. This increase in production eventually led to an oversupply of the crop, especially as downstream biofuel production slowed since 2013 due to market saturation. Nevertheless, global demand for corn has renewed. Corn for use as a biofuel input and also as an animal feed input has increased in foreign countries over the past five years as both biofuel production and livestock farming have expanded. The industry is expected to bounce back from the lows of the previous five-year period...purchase to read more.

Industry Statistics & Market Size
Revenue
$43bn
Annual Growth 13-18
-7.7%
Forecast Growth 18-23
Profit
Employment
143,584
Businesses
126,403
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • As prices increase with demand, operators will begin to experience revenue growth
  • Due to their rising efficiency, GM seeds account for a significant amount of revenue
  • Demand is anticipated to keep growing as renewable energy targets rise each year
  • Industry Report - Starting a New Business Chapter

    Overall, there are few barriers to entry into the Corn Farming industry. All inputs are readily available and established producers can usually shift between cropping activities with ease. Also, there are usually a number of farms available for sale. In the past five years, many farmers across the farming sector abandoned other crops in favor of corn, which was made possible by the ease of entry into the industry.Though the industry is relatively easy to enter, there are two barriers that new entrants must face: capital investment requirements and problems securing finance for that investment.The establishment of corn growing operations requires considerable investment. New participants need to purchase land, grain silos and machinery, such as harvesters and tractors. Acc...purchase to read more.

    Additional Insights for the Corn Farming Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Corn Farming Industry are

  • Ability to alter goods and services produced in favor of market conditions
  • Establishment of export markets
  • Economies of scale
  • IBISWorld analysts also discuss how external factors such as Price of corn and Demand from organic chemical manufacturing in the Corn Farming industry impact industry performance..

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    What's in this report

    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, 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 feed
  • Corn seeds for sowing
  • Corn used in food and alcohol
  • Corn used in biofuel production
  • Industry Activities
  • Growing a variety of corn (except sweet corn)
  • Producing corn seeds
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Price of corn
  • Demand from organic chemical manufacturing
  • Subsidies for corn farming
  • Natural disaster index
  • Trade-weighted index

  • Current Performance
  • Support structures
  • Profit and participation
  • Chart: Revenue Growth

  • Industry Outlook
  • Rising exports
  • Threats to growth
  • Table: Corn Farming Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Corn Farming Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Beef Cattle Production
  • Dairy Farms
  • Hog & Pig Farming
  • Chicken Egg Production
  • Flour Milling
  • Margarine & Cooking Oil Processing
  • Tortilla Production
  • Syrup & Flavoring Production
  • Petrochemical Manufacturing
  • Corn, Wheat & Soybean Wholesaling

  • Key Selling Industries
  • Crop Services
  • Farm, Lawn & Garden Equipment Wholesaling
  • Fertilizer Manufacturing
  • Tractors & Agricultural Machinery Manufacturing

  • Products & Services
  • Corn used in livestock feed
  • Corn used in biofuel production
  • Corn used in food and alcohol
  • Corn seeds for sowing
  • Chart: Corn Farming Industry Products and Services Segmentation

  • Demand Determinants
  • Food manufacturers
  • Livestock farmers
  • Ethanol producers

  • Major Markets
  • Animal feed producers
  • Ethanol manufacturers
  • Export markets
  • Food, beverage and other consumable product manufacturers
  • Seed wholesalers
  • Chart: Major Market Segmentation for the Corn Farming Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesRent and utilitiesDepreciationOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Corn Farming

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Corn Farming Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Corn Farming Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Corn Farming Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Price of corn (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Biofuel
  • Also called agrifuel. A fuel consisting of or derived from dead biological material, usually plants.
  • Ethanol
  • A form of alcohol used as a fuel. It is considered a renewable fuel with fewer pollutants.
  • Genetically Modified (Gm)
  • A technique in which changes are introduced into a plant or animal's DNA by genetic engineering techniques. GM corn has genes that have been altered in order to obtain a specific type of crop.
  • Usda
  • United States Department of Agriculture. This department administers programs aimed at farmers and collects data on the US agriculture sector.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Corn Farming is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

    IBISWorld industry market research reports enable you to:
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    This report on Corn Farming:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Corn Farming market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Corn Farming, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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