2024 Food Manufacturing Industry Research Report

Food Manufacturing - Market Size and Industry Forecast

The 2024 Food Manufacturing Industry Report contains historical and forecasted statistics used by leading private equity firms and consultants. Market sizes from 2019 to 2029 reflect industry trends and growth patterns. Revenues include both public and private companies in the food manufacturing industry.

HistoricalForecasted
20192020202120222023202420252026202720282029
Market Size (Total Revenue)

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% Growth Rate
Number of Companies
Total Employees
Average Revenue per Company
Average Employees per Company
Source: U.S. government financial data.

Industry Revenue ($ Billions)

Industry Market Size
  • 2017
  • 2018
  • 2019
  • 2020
  • 2021
  • 2022
  • 2023


Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.

Food Manufacturing - Geographic Breakdown by U.S. State

Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Food Manufacturing companies in the United States.

Food Manufacturing Revenue by State

Market Size by State

Distribution by Company Size

Company SizeAll IndustriesFood Manufacturing
Small Business (< 5 Employees)

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Small Business (5 - 20)
Midsized Business (20 - 100)
Large Business (100 - 500)
Enterprise (> 500)

Food Manufacturing - Income Statement (Average Financial Metrics)

Financial statement analysis determines averages for the following industry forces:
The report includes a traditional income statement from an "average" company (both public and private companies included).

Industry AveragePercent of Sales
Total Revenue

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Operating Revenue
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses
Operating Income
Non-Operating Income
Earnings Before Interest and Taxes (EBIT)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit


Average Income Statement

Average Income Statement

Cost of Goods Sold

Salaries, Wages, and Benefits

Rent

Advertising

Depreciation and Amortization

Officer Compensation

Net Income


Food Manufacturing - Financial Ratio Analysis

Financial ratios allow a company's performance to be compared against that of its peers.

Financial RatioIndustry Average
Profitability Ratios

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Profit Margin
ROE
ROA
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Average Collection Period
Asset Turnover Ratio
Receivables Turnover Ratio
Inventory Conversion Ratio

Food Manufacturing - Compensation and Salary Surveys

TitlePercent of WorkforceBottom QuartileAverage (Median) SalaryUpper Quartile
Management Occupations3%

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Chief Executives0%
General and Operations Managers1%
Food Preparation and Serving Related Occupations7%
Sales and Related Occupations9%
Retail Sales Workers7%
Retail Salespersons6%
Retail Salespersons6%
Office and Administrative Support Occupations7%
Installation, Maintenance, and Repair Occupations6%
Other Installation, Maintenance, and Repair Occupations5%
Industrial Machinery Installation, Repair, and Maintenance Workers6%
Production Occupations53%
Food Processing Workers28%
Bakers18%
Bakers18%
Butchers and Other Meat, Poultry, and Fish Processing Workers13%
Meat, Poultry, and Fish Cutters and Trimmers8%
Slaughterers and Meat Packers14%
Miscellaneous Food Processing Workers12%
Food Batchmakers8%
Other Production Occupations20%
Crushing, Grinding, Polishing, Mixing, and Blending Workers14%
Mixing and Blending Machine Setters, Operators, and Tenders13%
Packaging and Filling Machine Operators and Tenders9%
Packaging and Filling Machine Operators and Tenders9%
Miscellaneous Production Workers5%
Transportation and Material Moving Occupations16%
Motor Vehicle Operators8%
Driver/Sales Workers and Truck Drivers8%
Heavy and Tractor-Trailer Truck Drivers6%
Material Moving Workers13%
Industrial Truck and Tractor Operators5%
Industrial Truck and Tractor Operators5%
Laborers and Material Movers, Hand10%
Laborers and Freight, Stock, and Material Movers, Hand7%
Packers and Packagers, Hand6%

Government Contracts

In the past, the federal government spent an annual total of $3,076,325,846 on the food manufacturing industry. It has awarded 37,310 contracts to 1,747 companies, with an average value of $1,760,919 per company.

Food Manufacturing and Adjacent Industries - Top Companies

CompanyAddressRevenue
($ Millions)

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Food Manufacturing Industry Report
GeographyUnited States  
Publication DateMarch 2024
Report FormatPDF Download  PDF
Price

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