research
AnythingResearch
Industry Data & Market Research
AnythingResearch

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.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

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
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



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 (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Snack Food Manufacturing industry has been witnessing several trends in recent years. The first trend is the growing demand for healthy snacking options. Consumers are focusing more on health and wellness and are seeking healthier and more natural snacks, which has led to the rise of organic, gluten-free, and non-GMO snacks.

The second trend is the convenience factor. Consumers are increasingly leading busy lifestyles, and snack manufacturers are capitalizing on this trend by offering convenient, on-the-go options. This has also led to the rise of single-serve packs for various snacks.

The third trend is the use of innovative and new ingredients. Consumers are becoming more adventurous and open to trying new flavors, which is leading to the introduction of new ingredients and flavor combinations. This trend has also led to the use of plant-based proteins in snacks.

The fourth trend is the impact of technology. The use of technology in manufacturing, packaging, and distribution has helped facilitate greater efficiency and cost-effectiveness.

Lastly, sustainability is becoming an increasingly important trend. Manufacturers are looking for ways to reduce the environmental impact of their operations and are investing in sustainable packaging and production methods.

Overall, these trends are shaping the Snack Food Manufacturing industry and are expected to continue to do so in the future.



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.

U.S. map by state

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 AveragePercent of Sales
(Industry Benchmark)
Total Revenue

Order at top of page
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
 
Source: AnythingResearch Analysis of U.S. federal statistics




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 RatiosIndustry 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.
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).
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.


Liquidity RatiosIndustry 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.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry 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.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
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.



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.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 5%

Order at top of page
Chief Executives0%
General and Operations Managers2%
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%
Source: Bureau of Labor Statistics


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:
IncFact




Innovation News



Recent Federal Contracts for Snack Food Manufacturing

  • Feb 27, 2024: TABATCHNICK FINE FOODS INC (Somerset, NJ) awarded $3,099,023
  • Feb 27, 2024: AMERICAN BLANCHING COMPANY, LLC (Fitzgerald, GA) awarded $1,110,467
  • Feb 23, 2024: WILBUR PACKING COMPANY, INC. (Live Oak, CA) awarded $3,888,702
  • Feb 23, 2024: CRAIN WALNUT SHELLING, INC. (Los Molinos, CA) awarded $4,647,994
  • Feb 23, 2024: VALLEY OASIS FOODS, LLC (Corning, CA) awarded $3,833,128
  • Feb 23, 2024: GROWER DIRECT NUT COMPANY, INC. (Hughson, CA) awarded $13,387,039