$977.8m
$XX.Xm
11,434
1,579
$XXX.Xm
Companies in the Farm Product Storage and Warehousing industry operate bulk farm product warehousing and storage facilities. Industry performance depends on the agricultural market and related international trade, as storage companies generate revenue by transporting, storing and packing agricultural goods. Farm-level decisions on when and how much of that agricultural output to store are subject to numerous influences that may be volatile in nature. Due to this, industry performance shifts each year. For example, weather patterns affect crop yields, while global production and demand drive prices. Based on these factors, farmers decide what products to store to maximize profit in a given season. Altogether, Farm Product Storage and Warehousing industry revenue has inched downward at a CAGR of 0.8% over the past five years and is expected to total $977.8 million in 2023, when revenue will jump by an estimated 0.9%.When farmers encounter lower commodity prices, they are more likely to store grain in anticipation of future price appreciation. In addition to domestic markets, the industry is influenced by global agricultural trade trends, as the industry facilitates the export of US crops and provides value-added services, such as grain drying and prepackaging. The appreciation of the US dollar can negatively influence industry revenue, making US goods relatively more expensive to foreign buyers. Industry performance over the past five years has been affected by increasing demand for US agricultural exports, declining domestic consumption of wheat and corn-based sweeteners and some disintermediation of storage companies from supply chains. Also, the industry was severely affected amid the COVID-19 pandemic, which negatively affected industry revenue due to declining export volumes.Industry revenue will recover over the five years to 2028, although contending largely with the same conflicting demand trends. Due to increased demand from developing countries, US agricultural exports will remain strong. Still, a continued decline in consumption of wheat and corn-based sweeteners by health-conscious domestic consumers will hurt demand for corn and wheat storage domestically. Farm Product Storage and Warehousing industry revenue is expected to inch upward at a CAGR of 0.9% to $1.0 billion over the five years to 2028.
Industry revenue has declined at a CAGR of 0.8 % over the past five years, to reach an estimated $977.8m in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Archer-Daniels-Midland Co | 57.2 | 6.3 | 11.0 | |
Bunge Limited | 17.2 | 1.5 | 9.0 |
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Industry revenue is measured across several distinct product and services lines, including Storage services , Handling services and Packing services . Storage services is the largest segment of the Farm Product Storage & Warehousing in the US.
Storage services is surging amid the recovering economy as COVID-19 restrictions diminish
This industry operates bulk farm product warehousing and storage facilities, except refrigerated storage. Warehouses generally provide facilities and storage services for agricultural goods and are responsible for maintaining their security and condition. However, warehouses do not take ownership of or sell those goods. Most operators are involved in storing grain and other farm products.
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NAICS 49313 - Farm Product Storage & Warehousing 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.
Increasing consumer spending surges demand for storage services. Increased demand for food products correlates directly with increased demand for storage services.
Learn about an industry's products and services, markets and trends in international trade.
Storage services remain the industry’s largest service segment. Handling services also account 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.
The Southeast is widely dispersed and requires extensive logistic networks. Disparate population and economic activity require more handling and storage of goods.
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.
To obtain valuable contracts, storage companies must maintain enough unoccupied storage space to accommodate their customers. A facility's capacity that exceeds demand allows...
Learn about the performance of the top companies in the industry.
Archer-Daniels-Midland Co provides a number of storage-related services. The company stores, transports and prepares food.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The industry is subject to a moderate level of regulation. Across most of the United States, state laws require that any person, partnership, corporation or company that rece...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wages are the largest cost for storage companies. Companies rely heavily on manual labor to monitor facilities, send and retrieve items to and from warehouses, label and pack...
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 Farm Product Storage & Warehousing in the US industry in United States is $977.8m in 2024.
There are 1,579 businesses in the Farm Product Storage & Warehousing in the US industry in United States, which has grown at a CAGR of 3.9 % between 2018 and 2023.
The market size of the Farm Product Storage & Warehousing in the US industry in United States has been declining at a CAGR of 0.8 % between 2018 and 2023.
Over the next five years, the Farm Product Storage & Warehousing in the US industry in United States is expected to grow.
The biggest companies operating in the Farm Product Storage & Warehousing market in United States are Archer-Daniels-Midland Co and Bunge Limited
Bonded warehousing of farm products and Farm product warehousing and storage are part of the Farm Product Storage & Warehousing in the US industry.
The company holding the most market share in United States is Archer-Daniels-Midland Co.
The level of competition is moderate and increasing in the Farm Product Storage & Warehousing in the US industry in United States.