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2024 U.S. Industry Statistics & Market Forecast - Food Product Machinery Manufacturing


Market Size & Industry Statistics

The total U.S. industry market size for Food Product Machinery 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)


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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 Food Product Machinery Manufacturing industry is experiencing significant shifts due to several key trends. Firstly, there is a growing demand for sustainable food production, which is driving manufacturers to design equipment that is eco-friendly and energy-efficient. Another trend in the industry is the increasing use of automation and robotics, which help to improve production speeds and reduce labor costs. The integration of artificial intelligence is also becoming more common, allowing for predictive maintenance and improved process efficiency.


Thirdly, there is a focus on food safety and hygiene as manufacturers look to reduce the risk of product contamination by designing equipment that is easy to clean and sterilize. This trend has been particularly significant in light of the COVID-19 pandemic, which has increased consumer awareness around the importance of hygiene and cleanliness. In addition, there is a need for manufacturers to comply with increasingly stringent regulations on food safety and sustainability.


The fourth trend is the rise of digitalization, which is facilitating the use of data analytics and the development of smart factories. Monitoring and control systems are becoming more sophisticated, providing real-time information on production processes that can be used to optimize operations and reduce waste. Finally, the emergence of 3D printing has the potential to revolutionize the industry, allowing for the production of customized food processing equipment that is quicker and less expensive to produce. Overall, these trends are shaping the direction of the Food Product Machinery Manufacturing industry, creating new opportunities for growth and innovation.



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 Food Product Machinery 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 Food Product Machinery 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 Food Product Machinery 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 7%

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Chief Executives0%
General and Operations Managers2%
Business and Financial Operations Occupations 6%
Architecture and Engineering Occupations 11%
Engineers 8%
Office and Administrative Support Occupations 9%
Production Occupations 50%
Assemblers and Fabricators 16%
Miscellaneous Assemblers and Fabricators 12%
Metal Workers and Plastic Workers 20%
Machinists 6%
Machinists 6%
Welding, Soldering, and Brazing Workers 7%
Welders, Cutters, Solderers, and Brazers 6%
Other Production Occupations 10%
Source: Bureau of Labor Statistics


Food Product Machinery Manufacturing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Food Product Machinery 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 Food Product Machinery 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 Food Product Machinery Manufacturing industry.
Source:
IncFact


Recent Federal Contracts for Food Product Machinery Manufacturing

  • Feb 27, 2024: BABCO INTERNATIONAL, INC. (Tucson, AZ) awarded $1,384
  • Feb 16, 2024: IFE GROUP (Encinitas, CA) awarded $22,364
  • Feb 09, 2024: FOUR STATES EQUIPMENT & SERVICE INC (Farmington, NM) awarded $14,000
  • Feb 08, 2024: CVK ENTERPRISES, INC. (Waukegan, IL) awarded $15,125
  • Feb 05, 2024: RC QUARTERMASTER LLC (Silver Spring, MD) awarded $181,900
  • Feb 01, 2024: THE JAHNDA GROUP, LLC (Lake Forest, CA) awarded $43,519




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