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2024 U.S. Industry Statistics & Market Forecast - Snack Food Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Snack Food Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Snack Food Manufacturing industry include:- Increased demand for healthy and organic snacks
- Rise in vegan and plant-based snack options
- Growth in online sales and direct-to-consumer marketing
- Innovation in packaging for sustainability
- Global expansion of local flavors
- Impact of inflation on raw material costs
- Growing interest in gluten-free and allergen-free products
- Utilization of automation and AI technology for production efficiency
- Expanding portfolio for convenience meals and snacking
- Impact of changing regulations on food safety and labeling
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Snack Food Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Snack Food Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Snack Food Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Office and Administrative Support Occupations | 7% | |||
| Installation, Maintenance, and Repair Occupations | 6% | |||
| Production Occupations | 44% | |||
| Food Processing Workers | 18% | |||
| Miscellaneous Food Processing Workers | 18% | |||
| Food Batchmakers | 11% | |||
| Other Production Occupations | 21% | |||
| Packaging and Filling Machine Operators and Tenders | 13% | |||
| Packaging and Filling Machine Operators and Tenders | 13% | |||
| Transportation and Material Moving Occupations | 21% | |||
| Material Moving Workers | 18% | |||
| Laborers and Material Movers | 14% | |||
| Packers and Packagers, Hand | 5% | |||
Snack Food Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Snack Food Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Snack Food Manufacturing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Snack Food Manufacturing industry. |
Source:
Innovation News
- Jan 19, 2024: Texas Star Nut & Food trademarks "TEXASNUT.COM" - Pretzels; chocolate confections; chocolate-covered nuts; chocolate-covered pretzels; chocolate-covered raisins; cinnamon-coated nuts; sugared nuts; chocolate-topped pretzels; yogurt-covered pretzels; yogurt-covered fruit; roasted corn; chocolate-covered trail mix and snack mix consisting primarily of chocolate-covered nuts, seeds and dried fruit; yogurt-covered trail mix and snack mix consisting primarily of yogurt covered nuts, seeds and dried fruit
- Jan 17, 2024: Creations Foods US trademarks "AWYEAH" - cookies; crackers; baked snacks; nutrition bars; health bars
- Dec 30, 2023: MR. Tortilla trademarks "EAT GUILT FREE" - Tortilla chips; Tortilla shells; Tortillas
- May 24, 2021: Real Good Food raises $35 million in funding.
- Dec 15, 2020: Outstanding Foods raises $16 million in funding.
- Jul 09, 2020: Outstanding Foods raises $5 million in funding.
- Sep 01, 2016: Valley Popcorn patents Method Of Popping Popcorn
- Sep 01, 2016: Valley Popcorn patents Popcorn Popper
Recent Federal Contracts for Snack Food Manufacturing
- Mar 27, 2024: STUTZ PACKING COMPANY (Indio, CA) awarded $5,348,910
- Mar 25, 2024: WILBUR PACKING COMPANY, INC. (Live Oak, CA) awarded $3,888,702
- Mar 21, 2024: TABATCHNICK FINE FOODS INC (Somerset, NJ) awarded $3,099,023
- Mar 19, 2024: PEARL CROP, INC. (Stockton, CA) awarded $10,743,148
- Mar 18, 2024: SUNTREE SNACK FOODS LLC (Phoenix, AZ) awarded $1,330,668
- Mar 07, 2024: AMERICAN BLANCHING COMPANY, LLC (Fitzgerald, GA) awarded $1,110,467
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