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Hay & Crop Farming in the US: Market Research Report

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

Hay & Crop Farming Market Research Report | NAICS 11199 | Jan 2017

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

IBISWorld’s Hay & Crop 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
$30bn
Annual Growth 11-16
-0.8%
Annual Growth 16-21
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Profit
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Employment
511,697
Businesses
474,177
Industry Analysis & Industry Trends

Over the five years to 2016, industry revenue is expected to decline. However, increased demand for industry products including hay and crops such as mint, maple syrup and sugar beets will start to turn the industry around. As consumers become increasingly health-conscious, they will opt for healthier alternatives to high fructose corn syrups, such as sugar beets, driving industry demand. IBISWorld anticipates industry revenue to grow slightly over the five years to 2021. Growth is a result of continued consumer preference for organic meats and dairy will increase demand for high-value organic hay... purchase to read more

Industry Report - Industry Investment Chapter

Capital intensity within this industry is high due to the nature of the industry operations. Labor costs are relatively low within the industry. As seen by an employee to establishment ratio of 1.1:1, industry operations are almost entirely done by the farm owner's family. This artificially keeps wage costs low. The only way that wages can be kept low is through the use of equipment like tractors and bales. These pieces of equipment are expensive causing total depreciation for the industry to be high. These two factors combine to create a capital intensive industry. Capital intensity to wages has decreased over the five years to 2016 to $1.01 on the dollar from $1.18 in 2011.

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Industry ProductsRelated ReportsTable of Contents

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
HaySugar beetsHopsMushroomsOther Crops
 
Industry Activities
Hay, alfalfa and other farmingSugar beet farmingHop farmingAloe, mint and herb farmingTea and spice farmingMaple tapping


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