Wheat, Barley & Sorghum Farming in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: April 2024
NAICS 11117Revenue
$17.7bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
131k
Businesses
106k
Wages
$X.Xbn
Wheat, Barley & Sorghum Farming in the US industry analysis
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.
Trends and Insights
- 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 wheat-based products.
- Wheat remains the industry’s largest product segment. Sorghum also accounts for a significant portion of demand.
- 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 grains is in the Plains region.
- Competition between wheat, barley and sorghum farmers largely arises from price. These grains are uniform, widely available and substitutable.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 5.2 % over the past five years, to reach an estimated $17.7bn in 2024.
Trends and Insights
The COVID-19 pandemic increased demand for nonperishable foods
- Nonperishable foods include pasta, oatmeal, cereal, flour and other wheat-based products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
A decline in the TWI will ease export prices on the international market over the next five years
- In conjunction with decreased COVID-19 related supply chain disruptions, a depreciating dollar make US exports more competitive in international markets, supporting industry export growth and enabling revenue expansion.
Biggest companies in the Wheat, Barley & Sorghum Farming in the US
| Company | Market Share (%)
2023 | Revenue ($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 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
The predominant product grown in by wheat, barley and sorghum farmers is wheat
- Wheat can be subcategorized into hard red winter wheat and hard red spring wheat. These categories represent the seasons in which these wheat varieties are planted.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Soybean Farming in the US
- Oilseed Farming in the US
- Corn Farming in the US
- Hay & Crop Farming in the US
Complementors
- There are no industries to display.
International industries
- Grain Growing in Australia
- Grain Growing in New Zealand
- Cereals, Leguminous Crops & Oilseed Growing in the UK
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Growing hard red wheatGrowing soft red wheatGrowing white wheatGrowing Durum wheatGrowing sorghumGrowing barleyGrowing oatsGrowing ryeCompanies
Syngenta AgConagra Brands, Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
GENETICALLY MODIFIED (GM)PESTICIDEHERBICIDEBUSHELYIELDBIOFUELIndustry Code
NAICS 111140 - Wheat, Barley & Sorghum Farming 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
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...
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 (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- 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
Wheat remains the industry’s largest product segment. Sorghum also accounts for a significant portion of demand.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- 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
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...
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 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
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
Competition between wheat, barley and sorghum farmers largely arises from price. These grains are uniform, widely available and substitutable.
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 2019-2024
- 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
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.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Syngenta Ag's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Conagra Brands, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Syngenta Ag, and factors influencing its performance in the industry
- Description and key data for Conagra Brands, Inc., 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
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...
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 (2014-2029)
- Assistance historical data and forecast (2014-2029)
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
Profit is volatile due to weather conditions, but it is supported by subsidies. A large spike in wheat prices also serve to elevate profit.
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 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
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 (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
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
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Wheat, Barley & Sorghum Farming in the US industry in United States in 2024?
The market size of the Wheat, Barley & Sorghum Farming in the US industry in United States is $17.7bn in 2024.
How many businesses are there in the Wheat, Barley & Sorghum Farming in the US industry 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.
Has the Wheat, Barley & Sorghum Farming in the US industry in United States grown or declined over the past 5 years?
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.
What is the forecast growth of the Wheat, Barley & Sorghum Farming in the US industry in United States over the next 5 years?
Over the next five years, the Wheat, Barley & Sorghum Farming in the US industry in United States is expected to grow.
What are the biggest companies in the Wheat, Barley & Sorghum Farming in the US market in United States?
The biggest companies operating in the Wheat, Barley & Sorghum Farming market in United States are Syngenta Ag and Conagra Brands, Inc.
What does the Wheat, Barley & Sorghum Farming in the US in United States include?
Growing hard red wheat and Growing soft red wheat are part of the Wheat, Barley & Sorghum Farming in the US industry.
Which companies have the highest market share in the Wheat, Barley & Sorghum Farming in the US in United States?
The company holding the most market share in United States is Syngenta Ag.
How competitive is the Wheat, Barley & Sorghum Farming in the US industry in United States?
The level of competition is high and steady in the Wheat, Barley & Sorghum Farming in the US industry in United States.
