$3.3bn
$XXX.Xm
8,275
5,336
$XXX.Xm
Corn Farming industry revenue has climbed amid strong price growth. Corn is used in a variety of products for fuel, consumption and production. Corn farmers in Canada contend with a high level of competition from potential substitutes and global corn farmers. The use of corn for fuel has remained popular because of volatility in fossil fuel prices. Corn has grown in popularity for human food production and in certain industrial markets, as genetically modified plants have made harvests more reliable. Strong growth in exports has been fuelled by growing demand from Ireland, Spain and the United Kingdom. Corn farming revenue is expected to grow at a CAGR of 3.6% to $3.3 billion over the five years to 2023, despite a 2.4% slump in 2023, when profit is expected to reach 14.9% of revenue.
Industry revenue has grown at a CAGR of 3.5 % over the past five years, to reach an estimated $3.3bn in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
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There are no companies that hold a large enough market share in the Corn Farming in Canada industry for IBISWorld to include in this product.
Corn Farming in Canada
Industry revenue is measured across several distinct product and services lines, including Corn for grain, Corn for silage and Corn seeds. Corn for grain is the largest segment of the Corn Farming in Canada.
Consumption of corn products grows
Corn farmers primarily grow corn and produce corn seeds. Corn commonly refers to the grains or kernels of Zea mays, a tall annual cereal grass. Corn is a staple food in many parts of the world and is also a key input in the production of biofuel, sweeteners, oil and other products. Sweet corn is not included in this industry.
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NAICS 111150 - Corn Farming in Canada
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Surging prices caused revenue growth. Less competition domestically and a limited global supply caused corn prices to soar, pushing up revenue.
Learn about an industry's products and services, markets and trends in international trade.
Corn for grain fuels revenue growth. Corn for grain has been boosted by corn more widely used in human and animal food products. Corn for grain has different nutritional cont...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Corns farms are concentrated in Ontario and Quebec. Proximity to downstream markets and trade hubs in the United States makes these two provinces optimal for corn farming.
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.
Yields for substitute grains have fallen. This has lessened competition and contributed to rising corn prices.
Learn about the performance of the top companies in the industry.
Corn farming lacks market share concentration. Many farms have been owned by generations and generate less than $1.0 million annually. The relatively low benefits from acquir...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Organic produce must be properly labelled. Under the Organic Products Regulations, only products with organic content that is greater than or equal to 95.0% may be labelled a...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Higher prices have boosted profit. Year-to-year changes in growing conditions enhances profit volatility. In recent years, growing prices have fuelled strong growth in profit...
Including values and annual change:
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Key data sources in Canada include:
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The market size of the Corn Farming industry in Canada is $3.3bn in 2024.
There are 5,336 businesses in the Corn Farming industry in Canada, which has declined at a CAGR of 1.3 % between 2018 and 2023.
The market size of the Corn Farming industry in Canada has been growing at a CAGR of 3.5 % between 2018 and 2023.
Over the next five years, the Corn Farming industry in Canada is expected to decline.
Growing varieties of corn (except sweet corn) and Producing corn seeds are part of the Corn Farming industry.
The level of competition is moderate and steady in the Corn Farming industry in Canada.