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Sugarcane Harvesting in the US - Market Research Report (2013-2028)

Zachary Ruthven Zachary Ruthven New York, United States Last Updated: September 2023 NAICS 11193

Revenue

$1.3bn

2023

$1.3bn

Past 5-Year Growth

Profit

$XX.Xm

Employees

3,712

Businesses

664

Wages

$XXX.Xm

Sugarcane Harvesting in the US industry analysis

The industry has been relatively resilient, with revenue ultimately growing in recent years. As much of the agricultural sector was affected by the COVID-19 pandemic during 2020, industry revenue increased, unlike most crop growing industries. Overall, weather patterns are historically responsible for fluctuations in price and production. Following Hurricane Ida in 2021, industry performance was affected as production became limited due to the aftermath of the storm. Revenue is expected to rise at a CAGR of 1.4% to reach $1.3 billion in 2023, when revenue is set to fall 4.6% as falling fertilizer prices are passed along and per capita sugar and sweetener consumption fall.Industry profitability is less volatile than revenue, though it is still subject to weather conditions, sugar prices and circumstances in the downstream Sugar Processing industry (IBISWorld report 31131). Downstream sugar processors are protected by government price supports and import quotas, which inflate domestic sugar prices and protect the local industry from less-expensive imports. Although sugarcane farmers do not directly benefit from these programs, they receive payments from processors. While industry farmers do experience losses, the multitude of government support programs has kept profit relatively stable.The industry is expected to endure challenges in the coming years, which will limit industry growth. In addition to declines in prices, operators will likely confront increasingly health-conscious consumers turning to low and no-calorie sweeteners. The growing presence of alternative products in the sweetener market will increase competition for sugar processors, challenging industry operators. Additionally, stronger storms and climate campaigns are anticipated to force many industry operators to adjust their harvesting practices moving forward, as climate change discussions intensify. However, an opportunity for the industry lies in commercial ethanol production. Currently, bagasse, a byproduct of sugarcane processing, is used to self-sustain sugar mills in the United States. If technology innovation occurs and ethanol production is pursued, it will expand demand for the industry. Moving forward, revenue for the industry is set to decline at a CAGR of 0.6% to reach $1.3 billion in 2028.

Trends and Insights

  • Revenue for the industry has ultimately risen in recent years. Government regulation is able to keep domestic sugar prices high.
  • Regardless of the end product from a sugarcane plant, the immediate downstream market for harvested sugarcane is sugar mills. Refined sugar is sent to more diverse set of markets.
  • Most of the industry is in Florida and Louisiana. Only a small portion of the US has the appropriate physical conditions for sugarcane harvesting.
  • The cost of production is a key competitive factor among growers because sugarcane crop is largely homogeneous in nature. Therefore, the prices received by farmers are fairly similar and they can only maximize profit by using efficient, low-cost production techniques.
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Everything you need in one report

  • Reliable market estimates from 2013-2028
  • Competitive analysis, industry segmentation, financial benchmarks
  • Powerful SWOT, Porter’s Five Forces and risk management frameworks
  • Online membership platform with PDF, Word, Excel and PPT exports

Industry Overview

Market size and recent performance (2013-2028)

Industry revenue has grown at a CAGR of 1.4 % over the past five years, to reach an estimated $1.3bn in 2023.

Trends and Insights

Heavy regulations and support from the government aid harvesters

  • Downstream sugar processors have received a range of government support; sugarcane farmers have not directly reaped the benefits of such programs, but have received payments from processors.
  • Additional trends and insights available with purchase
Sugarcane Harvesting in the US
Revenue (2013-2028)
IBISWorld Logo Source: IBISWorld

Industry outlook (2024-2029)

Market size is projected to decline over the next five years.

Trends and Insights

Consumer taste is shifting towards healthier options

  • Downstream substitute products, like a zero-calorie alternative derived from the stevia plant, are expanding in-market presence in response to consumer preferences.

Biggest companies in the Sugarcane Harvesting in the US

Company
Market Share (%)
2023
Revenue ($m)
2023
Profit ($m)
2023
Profit Margin (%)
2023
United States Sugar Corporation
20.0
0.1
0.3

To view the market share and analysis for all 1 top companies in this industry, view purchase options.

Products & Services Segmentation

Sugarcane Harvesting in the US
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Seeds, Milled sugar and Refined sugar. Seeds is the largest segment of the Sugarcane Harvesting in the US.

Trends and Insights

Most sugarcane is milled

  • Sugarcane that is not grown for seeds is taken to a mill where it is washed, chopped and shredded. It then gets mixed with water and crushed.
  • More insights available in the full report

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Competitors

  • There are no industries to display.

Complementors

  • Soybean Farming in the US
  • Hay & Crop Farming in the US

International industries

  • Sugar Cane Growing in Australia

View all industries in United States

Table of Contents

About this industry

Industry definition

Farmers in this industry primarily grow sugarcane, a tall tropical grass originating in Southeast Asia. Scientifically known as Saccharum officinarum, its thick stems are a major commercial source of sugar.

What's included in this industry?

Sugarcane farmingSugar field production

Companies

United States Sugar Corporation

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Related Terms

NORTH AMERICAN FREE TRADE AGREEMENTPESTICIDETARIFF RATE QUOTA (TRQ)BAGASSE

Industry Code

NAICS 2017

NAICS 11193 - Sugarcane Harvesting in the US

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

Revenue for the industry has ultimately risen in recent years. Government regulation is able to keep domestic sugar prices high.

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2013-2022) and forecast (2023-2028)
  • Employees, including historical (2013-2022) and forecast (2023-2028)
  • Businesses, including historical (2013-2022) and forecast (2023-2028)
  • Profit, including historical (2013-2023)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Regardless of the end product from a sugarcane plant, the immediate downstream market for harvested sugarcane is sugar mills. Refined sugar is sent to more diverse set of mar...

In this chapter

  • Products & Services
  • Major Markets
  • International Trade

Key metrics

  • Largest market segment and value in 2023
  • Product innovation level
  • Total imports, level and trend
  • Total exports, level and trend
  • Trade Balance

Charts

  • Products & services segmentation in 2023
  • Major market segmentation in 2023
  • International trade, including imports by country and exports by country

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services
  • Recent trends in import and export volumes, country of origin or destination, and expected future trends

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

Most of the industry is in Florida and Louisiana. Only a small portion of the US has the appropriate physical conditions for sugarcane harvesting.

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each state
  • Share of population compared to establishments in each region in 2023

Tables

  • Number and share of establishments in each state in 2023
  • Number and share of revenue each state accounts for in 2023
  • Number and share of wages each state accounts for in 2023
  • Number and share of employees in each state in 2023

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

The cost of production is a key competitive factor among growers because sugarcane crop is largely homogeneous in nature. Therefore, the prices received by farmers are fairly...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2018-2023
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

In 2023, no single sugarcane harvester is expected to account for 5.0% or more of industry revenue. The industry is primarily made up of relatively small players.

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2019 through 2023
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2023
  • Overview of United States Sugar Corporation's performance by revenue, market share and profit margin from 2017 through 2023

Detailed analysis

  • Description and key data for United States Sugar Corporation, and factors influencing its performance in the industry

External Environment

Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

Analyst insights

The industry is characterized by a moderate level of revenue volatility. The industry's financial performance is shaped by a variety of factors, including weather conditions,...

In this chapter

  • External Drivers
  • Regulation & Policy
  • Assistance

Key metrics

  • Regulation & policy level and trend
  • Assistance level and trend

Charts

  • Regulation & Policy historical data and forecast (2013-2028) 
  • Assistance historical data and forecast (2013-2028) 

Detailed analysis

  • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
  • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
  • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

Financial Benchmarks

View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

Analyst insights

Average profit margins for sugarcane harvesters have risen in recent years. Revenue rose as overall wage costs have fallen.

In this chapter

  • Cost Structure
  • Financial Ratios
  • Key Ratios

Key metrics

  • Profit margin, and how it compares to the sector-wide margin
  • Average wages, and how it compares to the sector-wide average wage
  • Largest cost component as a percentage of revenue
  • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

Charts

  • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
  • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
  • Investment vs. share of economy

Data tables

  • Industry Multiples (2016-2021)
  • Industry Tax Structure (2016-2021)
  • Income Statement (2016-2021)
  • Balance Sheet (2016-2021)
  • Liquidity Ratios (2016-2021)
  • Coverage Ratios (2016-2021)
  • Leverage Ratios  (2016-2021)
  • Operating Ratios (2016-2021)
  • Cash Flow & Debt Service Ratios (2013-2028)
  • Revenue per Employee (2013-2028)
  • Revenue per Enterprise (2013-2028)
  • Employees per Establishment (2013-2028)
  • Employees per Enterprise (2013-2028)
  • Average Wage (2013-2028)
  • Wages/Revenue (2013-2028)
  • Establishments per Enterprise (2013-2028)
  • IVA/Revenue (2013-2028)
  • Imports/Demand (2013-2028)
  • Exports/Revenue (2013-2028)

Detailed analysis

  • Trends in the cost component for industry operators and their impact on industry costs and profitability 

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2013-2028)
  • IVA (2013-2028)
  • Establishments (2013-2028)
  • Enterprises (2013-2028)
  • Employment (2013-2028)
  • Exports (2013-2028)
  • Imports (2013-2028)
  • Wages (2013-2028)

Methodology

How are IBISWorld reports created?

IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

What data sources do IBISWorld analysts use?

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

Key data sources in the US include: 

  • US Census Bureau
  • US Bureau of Labor Statistics
  • US International Trade Commission

Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

These sources include:

  • Industry and trade associations
  • Industry federations or regulators
  • Major industry players annual or quarterly filings

Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

How does IBISWorld forecast its data?

IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

Learn more about our methodology and data sourcing on the Help Center.

Frequently Asked Questions

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What is the market size of the Sugarcane Harvesting in the US industry in United States in 2024?

The market size of the Sugarcane Harvesting in the US industry in United States is $1.3bn in 2024.

How many businesses are there in the Sugarcane Harvesting in the US industry in 2023?

There are 664 businesses in the Sugarcane Harvesting in the US industry in United States, which has grown at a CAGR of 5.1 % between 2018 and 2023.

Has the Sugarcane Harvesting in the US industry in United States grown or declined over the past 5 years?

The market size of the Sugarcane Harvesting in the US industry in United States has been growing at a CAGR of 1.4 % between 2018 and 2023.

What is the forecast growth of the Sugarcane Harvesting in the US industry in United States over the next 5 years?

Over the next five years, the Sugarcane Harvesting in the US industry in United States is expected to decline.

What are the biggest companies in the Sugarcane Harvesting in the US market in United States?

The biggest company operating in the Sugarcane Harvesting market in United States is United States Sugar Corporation

What does the Sugarcane Harvesting in the US in United States include?

Sugarcane farming and Sugar field production are part of the Sugarcane Harvesting in the US industry.

Which companies have the highest market share in the Sugarcane Harvesting in the US in United States?

The company holding the most market share in United States is United States Sugar Corporation.

How competitive is the Sugarcane Harvesting in the US industry in United States?

The level of competition is moderate and increasing in the Sugarcane Harvesting in the US industry in United States.