Fifty percent of farmers are willing to try new yield-increasing products.
Actions to capture the profit opportunity,
% of respondents (n = 1,354)
(< 2,000 acres) n = 1,109
Small farms
(2,000–5,000 acres)
n = 157
Medium farms
(> 5,000 acres) n = 88
Large farms
Source: McKinsey US Farmer Insights 2022–23 (n = 1,354)
Q: What actions do you anticipate taking to profit the most from those opportunities? [Asked after: What do you believe are the top three opportunities to your profits over the next 2 years?]
Percent of group who selected this action:
0–24
50–55
25–49
Overall respondents
All
Try new yield-increasing products
Try new crop protection products
Adopt new farming practices (regenerative agriculture)
Change purchasing and vendor strategy
Purchase innovative equipment, products, or technology
Buy or lease more land
Use technology to enhance commodity-trading capabilities
49%
36%
26%
22%
24%
21%
19%
