Farm Support Services
Companies in this industry provide support services for production of crops, such as planting and harvesting, and support services for production of animals, such as breeding. No major companies dominate the industry.
Worldwide production of crops and animals drives demand for farm support services. China, India, the US, and Brazil are among the top agricultural producers, according to Investopedia. Production of crops and livestock is expected to expand as rising populations and incomes in developing countries drive demand for food.
The US industry includes about 2 million farms during 2019 to 2021 with average annual income of about $130 thousand. The industry includes companies that support crop and animal farming operations but don't themselves produce crops, raise farm animals, or own farmland.
Competitive Landscape
Demand is driven by domestic trends in crop and livestock production. The profitability of individual companies depends on establishing a value-added benefit to farms and keeping wages low. Large companies have advantages in vertical integration and in offering a wide range of services. Small companies can compete effectively by specializing in a niche industry or service.
Products, Operations & Technology
Among all US farm support service providers, half specialize in crops and half in livestock. Crop-related activities account for the majority of reven
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