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Hay & Crop Farming in the US Industry Data and Analysis
Hay and other miscellaneous crop farming revenue has declined at a CAGR of 2.3% since 2021 to reach an estimated $40.4 billion in 2026, after holding steady in the current year. The industry rode a wave of soaring crop prices early in the period, but values reversed as supplies recovered and remain well below their peak. Recent price movements have split across crops, with drought and acreage cuts lifting hay and peanut prices while persistent surpluses weigh on hops. A historically small cattle herd has capped total feed demand, though record beef prices and an expanding dairy herd keep buyers paying premiums for quality hay. Sugar beet growers face a shrinking domestic crop, low world prices and intense import competition, offset only partly by federal price supports. With revenue softening and costs climbing, profit has struggled over the past three years, leaving many farms reliant on government payments and careful cash management.
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What's included in this industry analysis
IBISWorld's research coverage on the Hay & Crop Farming industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released October 2026.
About this industry
What's this industry report about?
The Hay & Crop Farming industry in the United States operates under the NAICS industry code 11199. The majority of farms in this industry grow hay, while a small number grow sugar beets. A variety of other crops, such as hops, mint and herbs, are included in the industry. Some farmers also gather agave, spices, tea and maple sap. Related terms covered in the Hay & Crop Farming industry in the United States include yield per acre, genetically modified, biofuel, cooperative (co-op) and precision agriculture.
What's included in this industry?
Products and services covered in Hay & Crop Farming industry in the United States include Hay, Sugar beets and Hops.
What companies are included in this industry?
Companies covered in the Hay & Crop Farming industry in the United States include American Crystal Sugar Company.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Hay & Crop Farming industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Hay & Crop Farming industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Hay & Crop Farming industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Hay & Crop Farming industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Hay & Crop Farming industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Hay & Crop Farming industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Hay & Crop Farming industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Hay & Crop Farming industry in the United States.
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Frequently Asked Questions
What is the market size of the Hay & Crop Farming industry in the United States in 2026?
The market size of the Hay & Crop Farming industry in the United States is $40.4bn in 2026.
How many businesses are there in the Hay & Crop Farming industry in the United States in 2026?
There are 452k businesses in the Hay & Crop Farming industry in the United States, which has declined at a CAGR of 1.9 % between 2021 and 2026.
How may import tariffs affect the Hay & Crop Farming industry in the United States?
The Hay & Crop Farming industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Hay & Crop Farming industry in the United States?
The Hay & Crop Farming industry in the United States is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Hay & Crop Farming industry in the United States grown or declined over the past 5 years?
The market size of the Hay & Crop Farming industry in the United States has been declining at a CAGR of 2.3 % between 2021 and 2026.
What is the forecast growth of the Hay & Crop Farming industry in the United States over the next 5 years?
Over the next five years, the Hay & Crop Farming industry in the United States is expected to grow.
What are the biggest companies in the Hay & Crop Farming industry in the United States?
The biggest company operating in the Hay & Crop Farming industry in the United States is American Crystal Sugar Company
What does the Hay & Crop Farming industry in the United States include?
Hay, alfalfa and other farming and Sugar beet farming are part of the Hay & Crop Farming industry in the United States.
Which companies have the highest market share in the Hay & Crop Farming industry in the United States?
The company holding the most market share in the Hay & Crop Farming industry in the United States is American Crystal Sugar Company.
How competitive is the Hay & Crop Farming industry in the United States?
The level of competition is high and steady in the Hay & Crop Farming industry in the United States.
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