Organic Crop Farming in the US - Industry Market Research Report

Organic Crop Farming in the US - Industry Market Research Report

Organic Crop Farming in the US

Organic crop farmers don't use pesticides or genetically modified organisms (GMOs). They grow vegetables, fruits, corn, wheat, soybeans, mushrooms and other types of food. Farmers benefited from rising wages in the years before the pandemic, as rising incomes enabled more consumers to afford more expensive organic food, so demand for the industry's products increased. When COVID-19 hit, capacity for grocery stores and food processors fell since they had to adhere to strict social distancing and mask-wearing rules. Lower capacity reduced demand for organic products from these stores, causing revenue to plunge in 2020. During the pandemic recovery, supply chain disruptions caused agricultural prices to soar. Higher input prices increased income per sale for organic crop farmers, causing revenue amid the recovery. Rising interest rates have made borrowing money for machinery, land and other equipment more expensive for farmers. Since it's harder to borrow, farming capacity has fallen, constraining revenue growth in recent years. Overall, revenue for organic crop farming has been surging at a CAGR of 5.0% over the past five years, and is expected to reach $14.3 billion in 2023. Revenue is expected to increase 0.9% in that year.

Farmers in this industry grow organic crops. Organic crops are certified by the US Department of Agriculture and don't use manufactured fertilizers, pesticides, growth regulators or any other plant modifications.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.