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2024 U.S. Industry Statistics & Market Forecast - Cheese Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Cheese 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
The Cheese Manufacturing industry is experiencing significant changes in recent years, driven by various market trends. Here are some key trends affecting the industry:1. Increased demand for organic and specialty cheeses – There is a growing demand for specialty and organic cheeses, as consumers become more health-conscious and seek unique flavor experiences.
2. Expansion of export markets – Many cheese manufacturers are expanding their export markets to meet growing demand from overseas. This trend is driven by the increasing popularity of cheese worldwide.
3. Adoption of new technologies – The adoption of new technologies such as automation, artificial intelligence (AI), and the Industrial Internet of Things (IIoT) is causing significant changes in the cheese manufacturing industry. These technologies are increasing efficiency and reducing costs.
4. Competitive pricing – The industry is becoming more competitive, with a focus on competitive pricing strategies that drive sales. Some manufacturers are looking to reduce costs by investing in automation and other technologies.
5. Sustainable and ethical manufacturing – There is an increasing focus on sustainable and ethical manufacturing practices. Consumers are demanding more transparency and accountability from manufacturers in terms of environmental impact and animal welfare.
Overall, the cheese manufacturing industry is adapting to changing market demands by focusing on quality, innovation, and sustainability. Manufacturers that are able to embrace these trends will be most successful 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.
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) | |
|---|---|---|
| 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 | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Cheese 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 Cheese 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 Cheese 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 | 4% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Office and Administrative Support Occupations | 7% | |||
| Installation, Maintenance, and Repair Occupations | 7% | |||
| Other Installation, Maintenance, and Repair Occupations | 6% | |||
| Production Occupations | 47% | |||
| Food Processing Workers | 17% | |||
| Miscellaneous Food Processing Workers | 17% | |||
| Food Batchmakers | 15% | |||
| Other Production Occupations | 24% | |||
| Packaging and Filling Machine Operators and Tenders | 14% | |||
| Packaging and Filling Machine Operators and Tenders | 14% | |||
| Transportation and Material Moving Occupations | 20% | |||
| Motor Vehicle Operators | 6% | |||
| Driver/Sales Workers and Truck Drivers | 6% | |||
| Material Moving Workers | 13% | |||
| Laborers and Material Movers | 11% | |||
| Laborers and Freight, Stock, and Material Movers, Hand | 6% | |||
Cheese Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Cheese 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 Cheese 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 Cheese Manufacturing industry. |
Source:
Innovation News
- Jan 17, 2024: Mountain Mozzarella trademarks "PLOUGHGATE CREAMERY AT MAPLEBROOK FARM" - Butter
- Jan 17, 2024: Mountain Mozzarella trademarks "PLOUGHGATE CREAMERY" - (Based on Use) Butter (Based on Intent to Use) Buttermilk; Cheese
- Jan 17, 2024: Mountain Mozzarella trademarks "" - Butter
- Jun 25, 2021: Zilks Plus Resources raises $2 million in funding.
- Apr 29, 2019: Life is Life raises $2 million in funding.
- Oct 26, 2018: Honest Stand raises $1 million in funding.
Recent Federal Contracts for Cheese Manufacturing- Apr 02, 2024: ASSOCIATED MILK PRODUCERS INC (New Ulm, MN) awarded $25,952,976
- Apr 02, 2024: GREAT LAKES CHEESE CO INC (Hiram, OH) awarded $93,600
- Apr 02, 2024: MASTERS GALLERY FOODS INC (Plymouth, WI) awarded $1,258,222
- Apr 02, 2024: BONGARDS CREAMERIES (Norwood Young America, MN) awarded $2,711,470
- Apr 02, 2024: LAND O LAKES INC (Saint Paul, MN) awarded $1,062,126
- Apr 01, 2024: MICELI DAIRY PRODUCTS CO (Cleveland, OH) awarded $2,432,756
- Apr 02, 2024: ASSOCIATED MILK PRODUCERS INC (New Ulm, MN) awarded $25,952,976
- Apr 02, 2024: GREAT LAKES CHEESE CO INC (Hiram, OH) awarded $93,600
- Apr 02, 2024: MASTERS GALLERY FOODS INC (Plymouth, WI) awarded $1,258,222
- Apr 02, 2024: BONGARDS CREAMERIES (Norwood Young America, MN) awarded $2,711,470
- Apr 02, 2024: LAND O LAKES INC (Saint Paul, MN) awarded $1,062,126
- Apr 01, 2024: MICELI DAIRY PRODUCTS CO (Cleveland, OH) awarded $2,432,756
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