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2024 U.S. Industry Statistics & Market Forecast - Specialty Food Stores


Market Size & Industry Statistics

The total U.S. industry market size for Specialty Food Stores: 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)


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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 Specialty Food Stores industry is experiencing several key trends that are shaping its growth and development. Firstly, there is an emerging trend towards healthier, natural, and organic food options. Consumers are increasingly conscious of the health benefits of these types of food and are willing to pay a premium price for them. Companies that offer a diverse range of organic and natural products are likely to attract a growing number of customers who seek healthier and more sustainable options.

Another trend affecting the industry is the rise of online food delivery services. E-commerce platforms have revolutionized the way consumers shop for food. Specialty food stores are now competing with online giants like Amazon, which offer a wide range of products at competitive prices delivered straight to the customer's doorstep.

Moreover, the Specialty Food Stores industry is also experiencing a growing interest in world cuisine. Consumers are seeking new and exciting flavors from across the globe, which has led to an increased demand for exotic ingredients, products, and spices.

Lastly, sustainability has become a crucial factor for consumers in their purchasing decisions. Environmentally sustainable and ethical practices are becoming central to the success of many food stores. Companies that can offer sustainably sourced products and ethical farming practices stand to gain an edge over those who do not prioritize these values.

Overall, the Specialty Food Stores industry is evolving towards more health-conscious, diverse, and sustainable offerings, while adapting to the impact of digital transformation on consumer behavior.



Product & Services Breakdown

Research products and services in the Specialty Food Stores industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Groceries & Other Food Items For Human Consumption Off The Premises

Produce, Including Fresh & Prepackaged Fruits & Vegetables

Frozen Foods, Including Packaged Foods Sold In A Frozen State

Dairy Products & Related Foods, Including Milk, Cheese, Butter, Yogurt, Eggs.

Bakery Products Not Baked On The Premises, Excluding Frozen

Delicatessen Items, Including Deli Meats & Other Service Deli Items

Meat & Poultry, Including Prepackaged Meats

Fish & Seafood, Including Refrigerated Prepackaged Fish & Seafood

Candy, Prepackaged Cookies, & Snack Foods

Bottled, Canned, Or Packaged Soft Drinks & Other Nonalcoholic Beverages

All Other Groceries & Food Items

Lawn, Garden, & Farm Equipment & Supplies

Meals, Unpackaged Snacks, Sandwiches, Unpackaged Ice Cream & Yogurt, Bakery Items, Other Food Items & Nonalcoholic Beverages Prepared

All Other Meals & Snacks, Including Hot Coffee, Fountain Drinks & Prepared Sandwiches.



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

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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
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Specialty Food Stores 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 Specialty Food Stores 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 Specialty Food Stores 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 2%

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Chief Executives0%
General and Operations Managers2%
Food Preparation and Serving Related Occupations 12%
Cooks and Food Preparation Workers 6%
Food Preparation Workers 6%
Food Preparation Workers 6%
Sales and Related Occupations 39%
Supervisors of Sales Workers 5%
First-Line Supervisors of Sales Workers 5%
First-Line Supervisors of Retail Sales Workers 5%
Retail Sales Workers 33%
Cashiers 28%
Cashiers 28%
Office and Administrative Support Occupations 7%
Production Occupations 7%
Food Processing Workers 6%
Transportation and Material Moving Occupations 28%
Material Moving Workers 25%
Laborers and Material Movers 25%
Stockers and Order Fillers 21%
Source: Bureau of Labor Statistics


Specialty Food Stores Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Specialty Food Stores 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 Specialty Food Stores 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 Specialty Food Stores industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Specialty Food Stores

  • Feb 23, 2024: JNS FOODS LLC (Coral Springs, FL) awarded $42,542
  • Jan 12, 2024: L.A. FOODS, LLC (Agoura Hills, CA) awarded $51,910
  • Jan 04, 2024: SHAVER FOODS LLC (Fayetteville, AR) awarded $53,513