$17.7bn
$X.Xbn
131k
106k
$X.Xbn
Wheat, barley and sorghum farming exhibits volatile, but overall positive revenue performance through the end of 2023. Increased plantings and strong supply utilization have been beneficial to industry revenue growth. Wheat, barley and sorghum farming revenue has surged at a CAGR of 5.2% to $17.7 billion over the past five years, pushed down by a 5.7% decrease in 2023 alone. Profit will also rise due to increased wheat prices.According to the most recent Wheat Outlook published by the US Department of Agriculture (USDA), end stocks of wheat and the stocks-to-use ratio has declined. This indicates an improvement in wheat supply management and higher downstream demand for wheat products. All wheat production and yields of bushels per acre rose throughout the past five years. In conjunction with relatively stronger supply management, an increase in overall production is an indicator of strong demand. Still, unfavorable weather conditions and increased droughts continue to pose a significant threat. Demand for nonperishable foods, such as pasta, oatmeal, cereal, flour and other wheat-based products bolstered demand throughout the COVID-19 pandemic. Government mandated stay-at-home orders, social restrictions and business closures boosted the reliance on nonperishable foods. Demand for nonperishable foods will continue rising, albeit at a decelerated rate compared with the previous year. Growth in the world price of wheat will also contribute to this revenue increase.The industry will continue growing through the end of 2028, with revenue growth supported by rising exports. The US dollar will depreciate, increasing the attractiveness of domestic products on the international market. Wheat, barley and sorghum farming revenue will expand at a CAGR of 1.1% to $18.7 billion over the next five years.
Industry revenue has grown at a CAGR of 5.2 % over the past five years, to reach an estimated $17.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Syngenta Ag | 684.0 | 203.7 | 29.8 | |
Conagra Brands, Inc. | 463.8 | 53.9 | 11.6 |
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Industry revenue is measured across several distinct product and services lines, including Hard red winter wheat, Hard red spring wheat and Soft red winter wheat. Hard red winter wheat is the largest segment of the Wheat, Barley & Sorghum Farming in the US.
The predominant product grown in by wheat, barley and sorghum farmers is wheat
Operators in the Wheat, Barley and Sorghum Farming industry primarily grow one or more varieties of wheat or a combination of sorghum, barley, oats, rye and other grains, where no single crop accounts for more than half the total value of production of the farm.
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NAICS 111140 - Wheat, Barley & Sorghum Farming in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The COVID-19 pandemic increased demand for nonperishable foods as consumers were forced to stay home. Nonperishable foods include pasta, oatmeal, cereal, flour and other whea...
Learn about an industry's products and services, markets and trends in international trade.
Wheat remains the industry’s largest product segment. Sorghum also accounts for a significant portion of demand.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Successful grain farming depends on the right mix of sunshine and rain. For this reason, the largest concentration of harvested acres of wheat, barley, sorghum and other grai...
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.
Competition between wheat, barley and sorghum farmers largely arises from price. These grains are uniform, widely available and substitutable.
Learn about the performance of the top companies in the industry.
Syngenta Ag is a major wheat, barley and sorghum farming company. The company has delved deeper into biotechnology, which gives them an edge over the competition.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Regulation of farmers are mainly conducted at the state and local levels. At the national level, regulatory agencies such as the Environmental Protection Agency (EPA), the US...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit is volatile due to weather conditions, but it is supported by subsidies. A large spike in wheat prices also serve to elevate profit.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Wheat, Barley & Sorghum Farming in the US industry in United States is $17.7bn in 2024.
There are 106k businesses in the Wheat, Barley & Sorghum Farming in the US industry in United States, which has grown at a CAGR of 5.4 % between 2019 and 2024.
The market size of the Wheat, Barley & Sorghum Farming in the US industry in United States has been growing at a CAGR of 5.2 % between 2019 and 2024.
Over the next five years, the Wheat, Barley & Sorghum Farming in the US industry in United States is expected to grow.
The biggest companies operating in the Wheat, Barley & Sorghum Farming market in United States are Syngenta Ag and Conagra Brands, Inc.
Growing hard red wheat and Growing soft red wheat are part of the Wheat, Barley & Sorghum Farming in the US industry.
The company holding the most market share in United States is Syngenta Ag.
The level of competition is high and steady in the Wheat, Barley & Sorghum Farming in the US industry in United States.