$25.8bn
$X.Xbn
43,479
22,495
$XXX.Xm
Hog and pig farmers have been subject to intense volatility over the past several years as trade disputes and fluctuating commodity prices shook the industry. While the challenges of transporting live swine usually mean the industry has very little international trade, an outbreak of the serious African Swine Fever at the start of the period devastated nearly half of the Chinese hog population and forced them to raise imports. The trade war between the US and China caused the already low levels of US exports to China to drop to nearly zero in 2019, though, and the industry wasn't able to seize this monumental opportunity until it was too late. Still, exports to the country skyrocketed in 2020 and 2021 before dropping back down to pre-period levels, which combined with a post-pandemic spike in the price of red meat in domestic markets to boost revenue a staggering 39.9% in 2021 alone. In spite of this exceptional year, the intense volatility hog and pig farms have faced have tempered growth. Industry-wide revenue has been growing at a CAGR of 2.6% over the past five years and is expected to total $28.6 billion in 2023, when revenue will drop an estimated 6.6%.
Industry revenue has declined at a CAGR of 0.4 % over the past five years, to reach an estimated $25.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
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2024 | Profit ($short_0)
2024 | Profit Margin (%)
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There are no companies that hold a large enough market share in the Hog & Pig Farming in the US industry for IBISWorld to include in this product.
Hog & Pig Farming in the US
Industry revenue is measured across several distinct product and services lines, including Market hogs, Feeder pigs and Cull stock. Market hogs is the largest segment of the Hog & Pig Farming in the US.
Market hogs bring home the bacon
Establishments in this industry farm hogs and pigs in operations that include breeding, farrowing, weaning and raising feeder pigs or market-size hogs. The term pig usually refers to the domestic mammal when it is young or small, while hog is the name typically given to domesticated pigs that weigh more than 120.0 pounds. While hog feedlots are included in the industry, the transportation of the livestock is excluded.
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NAICS 11221 - Hog & Pig Farming 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.
Revenue skyrocketed in 2021. A combination of unprecedent demand from abroad markets, surging red meat prices and even higher poultry prices made the year a historic win for ...
Learn about an industry's products and services, markets and trends in international trade.
Market hogs bring in three-quarters of revenue. These animals are sold to processors and are eventually resold to consumers or restaurants, giving these hogs a much higher ba...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Most pig farms are in the Plains. Cheaper land and a proximity to feed sources and processors make this region the best place to farm hogs.
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.
Pig farmers compete on price. While some pigs are more lean and produce higher quality meat, the relative homogeneity of pork products means piggeries need to offer competiti...
Learn about the performance of the top companies in the industry.
There are no major players. This is typical for the agriculture sector, as nonemployers dominate the industry and market share concentration is consistently low.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Porcine waste is closely monitored. Pig farmers with over 2,500 head need a special permit, and all piggeries need to take precautions to avoid contaminating water supplies w...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit is volatile. Unexpected jumps in the price of feed can leave pig farms stuck with lost margins when they're unable to pass heightened input costs downstream. This also...
Including values and annual change:
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Key data sources in the US include:
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:
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The market size of the Hog & Pig Farming in the US industry in United States is $25.8bn in 2024.
There are 22,495 businesses in the Hog & Pig Farming in the US industry in United States, which has grown at a CAGR of 10.3 % between 2019 and 2024.
The market size of the Hog & Pig Farming in the US industry in United States has been declining at a CAGR of 0.4 % between 2019 and 2024.
Over the next five years, the Hog & Pig Farming in the US industry in United States is expected to grow.
Farrow-to-finish operations and Feeder pig farming are part of the Hog & Pig Farming in the US industry.
The level of competition is moderate and increasing in the Hog & Pig Farming in the US industry in United States.