Food Manufacturing – 2024 U.S. Market Research Report

Publish Date: February 2024

This 63-page market research report provides a comprehensive analysis on the $970.3 food manufacturing market in the United States. With more than one hundred industry analyses and data sets, this report is one of the comprehensive assessments of the industry. The report covers 2015 to 2023, with forecasts for 2024 and 2028. The base data is sourced from extensive business surveys completed by the majority of companies in the food manufacturing industry.

This report has the in-depth industry insights you are looking for as it covers revenue & cost trends, in-depth OPEX analysis on 26 categories, extensive financial analysis, forecasts on 100+ data sets, inventory trends & analysis, composition of balance sheets, company segmentation analysis, competitive intensity analysis, material costs benchmarks, profitability metrics, state metrics analysis, plant capacity analysis, organizational breakdown, 4 years of inflation analysis, compensation analysis, in-depth productivity analysis, and numerous other data sets.

Food Manufacturing Report


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Report Format


The 2024 U.S. Food Manufacturing Industry Market Research Report is 63 pages of deep insights into the trends, dynamics, and forecasts shaping the industry. This market research report is utilized by professionals to gain a deep understanding of the industry for business planning, forecasting, OPEX benchmarking, industry analysis, growth initiatives, financial analysis, plant capacity planning, market analysis, business valuations, organizational benchmarking, sales & marketing analysis, productivity benchmarking, identifying operational efficiencies, wage and pay analysis, and a ton more.

Below are a few page images from the report and check out the table of contents for a complete overview.

food manufacturing industry revenue chart

OPEX chart for food manufacturing

Food Manufacturing Profit

food manufacturing BCG Matrix

Food Manufacturing Plant Utilization Chart

Food Manufacturing Workforce Benchmarks


Industry Description


Industries in the Food Manufacturing subsector transform livestock and agricultural products into products for intermediate or final consumption. The industry groups are distinguished by the raw materials (generally of animal or vegetable origin) processed into food products.

The food products manufactured in these companies are typically sold to wholesalers or retailers for distribution to consumers, but companies primarily engaged in retailing bakery and candy products made on the premises not for immediate consumption are included.

NAICS Code: 311

Number of Companies: 22,112

Number of Plants / Facilities: 26,552

Total Employees: 1,579,197

Market Size: $970.3 billion

Product Lines Covered


Animal slaughtering and processing
Dairy product manufacturing
Grain and oilseed milling
Other food manufacturing
Fruit and vegetable preserving and specialty food manufacturing
Bakeries and tortilla manufacturing
Animal food manufacturing
Sugar and confectionery product manufacturing

Table of Contents


Evaluate the table of contents of the Food Manufacturing Industry Report to appreciate why thousands of professionals, bankers, consultants, accountants, and other executives rely on Kentley Insights for data-rich industry insights.


1-2 – Report Overview & Contents

3 – Industry Overview
– Data Sources
– Industry Definition & Examples

4 – Industry Synopsis – Revenue & Growth

5 – Industry Synopsis – Costs & Profitability

SECTION ONE
REVENUE & GROWTH ANALYSIS

7 – Market Size Details
– Industry Revenues
– Companies
– Facilities
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

8 – Growth Benchmarks
– Sales per Company
– Sales per Plant
– Plants per Company
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

9 – Product Lines Revenue
– Percentage of Revenue from Product Lines

10 – BCG Matrix – Net Income vs. Revenue Growth
– Subsectors vs. Industry

11 – Total Industry Sales by Month & Year
– 2019-2023 Sales per Month

12 – Inventory Value by Month & Year
– Inventory Value per Month for 2019-2023

13 – Months of Inventory
– Months of Inventory per Month for 2019-2023

14 – Sector Revenue by Segments
– Concentration Segments by Top Companies
– Business Size Segments
– Business Structure Segments

15 – Market Size by State
– Industry Revenue by State and Rankings

16 – Market Size as a % of State GDP
– Sales as a Percentage

17 – Industry Sales as a % of State Manufacturing
– Sales as a % of Income

18 – Industry Segmentation by Business Size
– Sales as a % of Income

19 – Industry Segmentation by Business Size
– Business Size Segments – 1-4, 5-9, 10-20, 21-50, 51-100, 101-250, & 250+ employees
– Companies, Facilities, Sales, Employees & Payroll

20 – Industry Segmentation by Concentration (Top 50 Companies)
– Concentration Segments – Top 4, 5-8, 9-20, & 21-50 companies
– Companies, Facilities, Sales, Employees & Payroll

21 – Industry Market Share of Top 50 Companies
– Market Share & Total Revenue for 2018 versus 2023

22 – Subsector Market Share of Top 50 Companies
– Market Share & Total Revenue for 2018 versus 2023

23 – Industry Segmentation by Business Structure
– Business Structure Segments – C-Corporations, S-Corporations, Partnerships, & Sole Proprietorships
– Companies, Facilities, Sales, Employees & Payroll

24 – Revenue per Company by State
– Revenue per Company

25 – Revenue per Company by Segments
– Business Size, Concentration, & Structure

26 – Revenue per Facility by State
– Sales per Facility & State Ranking

27 – Revenue per Facility by Segment
– Business Size, Concentration, & Structure

28 – Subsector Growth
– Sales and 5-Year Growth

29 – Subsector Statistics
– Sales per Company & Facility, and 5-Year Growth

30 – Consolidation Analysis
– 5-Year Growth of Companies & Locations

31 – Employment Consolidation Analysis
– 5-Year Growth of Employee Statistics

32 – Subsector Consolidation Analysis
– Number of Companies
– Number of Facilities
– 5-Year Growth

33 – Subsector Consolidation Analysis
– Facilities per Company
– Employees per Company
– 5-Year Growth

SECTION TWO
COST, CAPITAL & PROFIT BENCHMARKS

35 – Profitability & Financial Ratio Analysis
– Percent of Companies that are Profitable
– Average Net Income as a Percent of Revenue
– 10 of the Top Financial Ratios

Page 36 – Balance Sheet Metrics
– Assets and Liabilities indexed to industry revenue at 100
– Current & Non-Current Assets: Cash, Notes & Accounts Receivable, Allowance for Bad Debts, Inventories, Treasuries & Securities, Other Current Assets, Loans to Shareholders / Mortgage, Other Investments, Depreciable Assets, Accumulated Depreciation, Land, Intangible Assets (Amortizable), Accumulated Amortization, Other Assets
– Short-term, Long-term Liabilities, & Net Worth: Accounts Payable, Mortgages, Notes, Bonds due in less than 1 Yr., Other Current Liabilities, Loans from Shareholders, Mortgages, Notes, Bonds > 1 Yr., Other Liabilities, Capital Stock, Additional Paid-in Capital, Retained Earnings, Cost of Treasury Stock

37 – OPEX
– Industry OPEX
– Industry Revenue vs. OPEX Growth
– OPEX as a Percent of Revenue
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

38 – OPEX by Company & Plant
– OPEX per Company
– OPEX per Facility
– Revenue vs. Expenses Growth per Plant
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

Page 39 – OPEX Detail
– Employee Expenses: payroll, insurance, pension, defined contribution plans, fringe benefits, temps
– Cost of Materials: materials, parts, containers, packaging, cost of resale, electricity and fuels, contract work
– Buildings and Equipment: capex for equipment, rental or lease for equipment, capex for buildings and structures, rental or leases, repair and maintenance
– Other Operating Expenses: professional and technical services, IT software and hardware, data processing and communications, advertising, refuse removal, taxes and license fees, other
-Inventory Breakdown: finished goods, work-in-progress, materials and supplies

40 – Production Material Costs
– Top Production Material Costs Breakdown
– % of Total Production Material Cost

41 – Producer Pricing Index
– Annual PPI – Indexed to 2006
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts
– Monthly PPI Figures for the Past 4 Years

42 – Plant Utilization & Hours
– Plant Utilization Rate
– Plant Operational Hours per Week
– 2020-2023 Historical Figures by Quarter

43 – Reasons for Non-Full Production
– 7 Categories Quarterly Survey Results for Past 2 Years

44 – Productivity & Industry Employment
– Revenue per Employee
– Total Industry Employees
– Employees per Company
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

45 – Employee Productivity by Segments
– Business Size, Concentration, & Structure

46 – Employee Productivity by State
– Revenue per Employee

47 –Subsector Sales & Payroll per Employee
– Absolute & 5-Year Growth

48 – Industry Payroll
– Payroll per Employee
– Payroll per Company
– Payroll per Plant
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

49 – Payroll per Company by Segments
– Business Size, Concentration, & Structure

50 – Payroll per Plant by Segments
– Business Size, Concentration, & Structure

51 – Payroll per Employee by Segments
– Business Size, Concentration, & Structure

52 – Payroll per Employee by State
– Payroll per Employee

53 – Organizational Composition
– % of Employees for 27 Job Categories
– Management & Finance
– Sales & Marketing
– Technology, Engineering, Science
– Service, Support & Training
– Operations

54 – Job Categorization Pay Ranges
– Management & Finance
– Sales, Service & Marketing
– Operations
– Pay Bands – Bottom 10% & 25%, Mean, Top 25% & 10%

55 – Top 20 Jobs Breakdown
– Percent of Total Employees

56 – Top 20 Jobs Pay
– Pay Bands – Bottom 10% & 25%, Mean, Top 25% & 10%

57 – Employees per Company by Segments
– Business Size, Concentration, & Structure

58 – Employees per Plant by Segments
– Business Size, Concentration, & Structure

59 – Facilities per Company by Segments
– Business Size, Concentration, & Structure

60 – Total Employment by State
– Number of Employees

61 – Population to Every Employee by State
– Number of Residents to Industry Employee
– State Rankings

62 – Employees per Facility by State
– Average Number of Employees per Facility
– State Rankings

63 – Overview of Kentley Insights


Data Sources & Forecast Methodology


The data source for the report is extensive annual expense, revenue, wage, operational, and economic surveys administered by federal and private institutions and filled out by a majority of companies in the food manufacturing industry. The forecasts in the report are modeled by our research analysts using the latest economic forecasts, industry analysis, and historical trends.

Download a Sample Report


Below is a free sample report download. The 2024 Food Manufacturing Industry Report has the same layout and data sets as the sample report.

Wood Kitchen Cabinet Countertop Manufacturing Report

Report Details


Report: Food Manufacturing Industry Market Research Report

Number of Pages: 63

Format: PDF

Price: $295

Support Contact:
Email us at support@kentleyinsights.com
Call us at 1-800-613-3611

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Other Animal Food Manufacturing

Industry Jobs Analyzed


Butchers and Other Meat, Poultry, and Fish Processing Workers
Miscellaneous Food Processing Workers
Laborers and Material Movers, Hand
Packaging and Filling Machine Operators and Tenders
Bakers
First-Line Supervisors of Production and Operating Workers
Industrial Machinery Installation, Repair, and Maintenance Workers
Driver/Sales Workers and Truck Drivers
Inspectors, Testers, Sorters, Samplers, and Weighers
Industrial Truck and Tractor Operators
Maintenance and Repair Workers, General
Crushing, Grinding, Polishing, Mixing, and Blending Workers
Shipping, Receiving, and Traffic Clerks
Building Cleaning Workers
Cashiers
Retail Salespersons
Sales Representatives, Wholesale and Manufacturing
Fast Food and Counter Workers
General and Operations Managers
Office Clerks, General

Material Cost Categories


Cost of all other materials and components, parts, containers, and supplies consumed
Materials, ingredients, containers, and supplies, nsk
Beef cattle
Meat products, including fresh, frozen, & processed beef, pork, lamb, and other (ex. poultry) ; lard, tallow; hides, skins, and pelts
Whole milk
Soybeans
Hogs and pigs
Chickens
Poultry products, including processed, bulk, chilled, frozen, whole, and parts
Natural cheese, process cheese, and cheese substitutes
Fats and oils, all types
Paper and paperboard products
Corn
Fluid milk products and dairy product substitutes
Wheat flour and all other flour (excluding corn), and all other grain mill products (ex. corn), including germ, bran, etc.
Fresh vegetables
Beet and cane sugar
Plastics products (including packaging, foam products, film, sheet, rod, tube, fabricated shapes, bottles, etc.)
Dry, condensed, and evaporated dairy products, including dry dairy product substitutes
Unprocessed finfish and shellfish

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