New harvest: Consumer preferences will drive demand for organic hay and processed sugar

The Hay Crop Farming industry, which largely depends on downstream demand, has experienced a slight decline during the past five-year period, largely due to a steep decline in the price of corn and a bad growing season from 2015 to 2016. Demand from the beef cattle industry is essential for hay producers, because hay is one way farmers feed their cattle. However, over the five years to 2018, prices of alternative livestock feeds, such as corn, plummeted due to weakened demand from the biofuel market. This led corn to become a less-expensive cattle feed than hay, causing hay revenue to decline along with the industry's profit margin. However, growth in the sugar beet segment of the industry helped partially offset some the decline from the hay segment...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Changing consumer preferences toward organic meats and dairy will increase demand for high-value organic hay
  • Consumers have increasingly preferred natural flavoring in the foods
  • Demand for organic hay from the Beef Cattle Production industry will boost industry
  • Industry Report - Industry Products Chapter

    HayThe Hay and Crop Farming industry's largest product category is hay, which accounts for an estimated 23.4% of revenue in 2018. The product can be subdivided into alfalfa hay and other hay. Alfalfa hay has a higher protein content than other hay. However, it requires more water and fertilizer to grow and tends to be more susceptible to insect damage. The price for alfalfa hay is higher than the price for any other hay, making it a larger portion of segment revenue in 2018. Other hay includes clover hay, grass hay and hybrid varieties.Sugar beetsSugar beets generate an estimated 4.8% of industry revenue in 2018. Thi...purchase to read more.

    Additional Insights for the Hay & Crop Farming Industry

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

  • Appropriate physical growing conditions
  • Economies of scale
  • Ability to take advantage of government subsidies and other grants
  • IBISWorld analysts also discuss how external factors such as Demand from beef cattle production and Demand from food manufacturing in the Hay & Crop Farming industry impact industry performance..

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    What's in this report

    What is the Hay & Crop Farming Industry?

    More than half the farms in this industry grow hay, while a small number grow sugar beets. A variety of other crops, such as hops and herbs, are included in the industry. Some establishments also gather agave, spices, tea and maple sap.

    Industry Products
  • Hay
  • Sugar beets
  • Hops
  • Mushrooms
  • Other Crops
  • Industry Activities
  • Hay, alfalfa and other farming
  • Sugar beet farming
  • Hop farming
  • Aloe, mint and herb farming
  • Tea and spice farming
  • Maple tapping
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from beef cattle production
  • Demand from food manufacturing
  • Per capita sugar and sweetener consumption
  • Trade-weighted index
  • Natural disaster index

  • Current Performance
  • Hay fluctuates
  • New flavors
  • International demand rises
  • Chart: Revenue Growth

  • Industry Outlook
  • Organic farming drives growth in hay market
  • Just the right amount of sweetness
  • Table: Hay & Crop Farming Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hay & Crop Farming Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Beef Cattle Production
  • Dairy Farms
  • Hog & Pig Farming
  • Sheep Farming
  • Horse & Other Equine Production
  • Sugar Processing
  • Breweries
  • Soft Drink, Baked Goods & Other Grocery Wholesaling
  • Cotton, Sugar & Tobacco Wholesaling

  • Key Selling Industries
  • Crop Services
  • Farm Supplies Wholesaling
  • Farm, Lawn & Garden Equipment Wholesaling
  • Pesticide Manufacturing
  • Water Supply & Irrigation Systems

  • Products & Services
  • Other Crops
  • Hay
  • Sugar beets
  • Mushrooms
  • Hops
  • Chart: Hay & Crop Farming Industry Products and Services Segmentation

  • Demand Determinants
  • Livestock production
  • Price
  • Food processors
  • Exchange rates

  • Major Markets
  • Direct to retail
  • Food manufacturers
  • Grocery wholesalers
  • Livestock farmers
  • Other
  • Exports
  • Chart: Major Market Segmentation for the Hay & Crop Farming Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitRent, utilities and depreciationPurchasesWages
  • Chart: Cost Structure Benchmarking – Sector vs Hay & Crop Farming

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hay & Crop 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 Hay & Crop 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 Hay & Crop Farming Industry
  • 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
  • A fuel consisting of, or derived from, dead biological material, usually plants.
  • Cooperative
  • A jointly owned, vertically integrated organization, also referred to as a co-op, that produces and distributes goods for the benefit of the owners.
  • Genetically Modified
  • A technique where specific changes are introduced into a plant or animal's DNA by genetic engineering techniques. The most common modified foods include soybean, corn and canola.
  • Yield Per Acre
  • The volume of crops that can be produced for every acre; the term can apply to harvested acreage or planted acreage.
  • What Our Customers Say

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    • Historical data and analysis for the key drivers of this industry
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