Fruit & Nut Farming in the US
While Fruit and Nut Farming revenue stagnated over the five years to 2018, its size in terms of production fell toward the end of the period due to the drought in California. Nevertheless, it is difficult to enter or exit the industry because most fruit and nut trees require up to four years of growth before reaching bearing age. As a result, most fruit and nut farmers remain in the industry for multiple years. The United States is one of the largest growers of tree nuts, and demand for these specific products is expected to grow. IBISWorld anticipates industry revenue will rise over the next five years to 2023. Continued advancements in transportation technology will extend the reach of high-quality, high-value domestically grown fruit in the global market.
Farmers in this industry grow nuts such as almonds and peanuts, as well as fruits like apples, berries, grapes and other noncitrus goods. Operators in this industry sell their crops to downstream processors and fresh produce wholesalers and retailers.
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.