Crop Production Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 9/5/2022
SIC Codes: 0111, 0112, 0115, 0116, 0119, 0134, 0161, 0171, 0172, 0173, 0174, 0175, 0179, 0182
NAICS Codes: 111
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Crop Production Industry Profile

Companies in this industry grow crops such as grain, oilseeds, tobacco, dry beans, potatoes, vegetables and melons, fruits and nuts, and floriculture. Major companies include Chiquita Brands International, Dole Food Company, Fresh Del Monte Produce, and Sunkist Growers (all based in the US); along with AMAGGI (Brazil) and Total Produce (Ireland).

Global crop production increased over 50% between 2000 and 2019, reaching about 9.5 billion tons in 2019. Sugarcane, corn, wheat, rice, and potatoes are the most highly produced crops by volume. Israel, the US, Turkey, Canada, and Australia are the projected top crop producers by 2030s.

The US crop production industry includes about 2 million farms with combined annual revenue of about $200 billion, with corn and soybeans accounting for about 50% of all US crop receipts.

COMPETITIVE LANDSCAPE

Demand is driven by federal agricultural policy programs, global and national food consumption trends, and the grain and oilseed export market. The profitability of individual companies depends on maximizing crop yield and minimizing disease risk. Large companies have advantages in highly automated technologies and access to the latest in seed and crop technologies. Small operations can compete effectively by harvesting heirloom, non-genetically modified (GM), organic, or specialty products.

US exports, mainly oilseeds and grains, were valued at over $150 billion in 2020. Canada is the largest market for US agricultural exports, followed by Mexico, the European Union, Japan, and China. Soybeans, corn, and ...

 
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