Overview

Making hay: Fodder crop exports to Asia and the Middle East have boosted industry revenue

IBISWorld’s Hay and Other Crop Growing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth
2012 - 2017
7.6%
Annual Growth
2017 - 2022
Profit
Employment
4,306
Business
2,111

Industry Analysis & Industry Trends

Revenue growth for the Hay and Other Crop Growing industry has fluctuated significantly over the past five years. Volatile weather and changing downstream demand have created a challenging environment for industry operators. Varying rainfall has affected demand for hay and fodder crops from livestock farms. However, the changing value of the Australian dollar over the period has aided strong industry export growth. Overall, industry revenue is forecast to increase at an annualised 7.6% over the five years through 2016-17, to $1.6 billion. This growth has been accentuated by a low base year in 2011-12. This was due to high rainfall damaging hay crops over the two years through 2011-12, which reduced output and crop quality. Industry revenue is forecast to rise 0.7% in the current year...

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Industry Report - Industry Investment Chapter

The industry's low wage costs are reflective of a highly capital-intensive industry. For every dollar spent on wages for hired labour, an estimated $2.46 is spent on capital. However, approximately three-quarters on businesses are non-employing, relying solely on owner-operators and family members to carry out labour activities. Owner-operators typically do not pay themselves a traditional wage, but draw their wages out of profit. Consequently, the industry's wage expenses underrepresent the actual income earned per worker in the industry. When the estimated cost of imputed labour (wages drawn from profit) is accounted for, wage costs overtake capital investment costs as a share of industry revenue. How..

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Industry Products

What is the Hay and Other Crop Growing Industry?

The industry grows fodder crops such as hay, silage and alfalfa, in addition to other niche crops such as peanuts, ginger, coffee, chicory and lavender.

Industry Products
Lucerne hay
Pasture hay
Cereal hay
Other hay crops
Other non-hay crops
Industry Activities
Hay, fodder and silage growing
Broom millet growing
Chicory and coffee growing
Medicinal plant growing
Vegetable growing (for fodder)
Hops, jute and lavender growing
Bamboo growing
Mustard, ginger, ramie, lucerne and flax growing
Tea growing

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

Competitive Landscape

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
industry Globalisation

Major Companies

Operating Conditions

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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