Agriculture & Forestry Sector Industry Profile

Companies in this industry sector grow crops, raise or fatten animals for animal products, and grow and harvest timber. Major crop production companies include AMAGGI, Chiquita, Dole Food Company, Fresh Del Monte Produce, Sunkist Growers, and Total Produce; major animal production companies include Agri Beef, Dairy Farmers of America, JBS SA, and WH Group. Major timber operations include PotlatchDeltic, Resolute Forest Products, Stora Enso, and Weyerhaeuser.

The global agricultural market was about $13 trillion in 2023 at a compound annual growth rate (CAGR) of 8.2%, according to The Business Research Company. According to Investopedia, the US, China, India, and Russia are among the top cereal and vegetable crop producers. Top wood product sources include the US, China, Russia, and Canda, according to Geeks for Geeks.

The US agriculture and forestry sector includes about 2 million farms and about 3,000 timber companies with combined annual revenue of about $1.5 trillion.

COMPETITIVE LANDSCAPE

Demand is driven by government agricultural policy programs, food consumption trends, and lumber demand. Profitability depends on efficient operations. Large companies have advantages in vertically integrated operations and economies of scale in purchasing and marketing. Small operations can compete effectively by supplying local markets, specializing in heirloom or organic crops or those that have not been genetically modified (GM), or raising animals in less restrictive environments on hormone-free diets.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major farm products include cattle and calves, corn, and soybeans, according to the American ...