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| Products/Services Breakdown | |
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| Financial Metrics | |
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2023 U.S. Industry Statistics & Market Forecast - Food Service Contractors
Market Size & Industry Statistics
The total U.S. industry market size for Food Service Contractors:
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 | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| 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 / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Food Service Contractors industry is facing a number of key trends that are shaping the way businesses in this industry operate. One of the biggest trends is the increasing focus on health and wellness, with consumers demanding healthier food options and greater transparency around sourcing and nutritional information.Another key trend is the rise of technology, with digital platforms and tools like mobile ordering apps and online ordering systems becoming increasingly popular among consumers and businesses alike. This trend is also driving greater innovation in areas like food delivery and supply chain management.
Other important trends affecting the industry include the growing popularity of plant-based and vegetarian options, as well as the rising demand for sustainable and environmentally-friendly food products. Additionally, the trend towards urbanization is resulting in a greater need for food service solutions that are tailored to dense, urban environments, such as food trucks and pop-up restaurants.
Overall, the Food Service Contractors industry is being shaped by a combination of changing consumer preferences, technological advancements, and societal trends, all of which are contributing to a dynamic and rapidly-evolving business landscape. To thrive in this industry, businesses must stay ahead of these trends and be prepared to adapt to changing market conditions.
Product & Services Breakdown
Research products and services in the Food Service Contractors industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Alcoholic Beverages Served For Immediate Consumption |
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Beer, Ale, & Malt Beverages Served For Immediate Consumption |
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All Other Merchandise |
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Souvenirs & Novelty Items |
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Meals, Unpackaged Snacks, Sandwiches, Unpackaged Ice Cream & Yogurt, Bakery Items, Other Food Items & Nonalcoholic Beverages Prepared |
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Meals & Snacks Dispensed W/O Table Service For Consumption On Premises |
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Meals, Snacks & Beverages Prepared Under Long-Term Contract |
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Meals, Snacks & Nonalcoholic Beverages Prepared Under Long-Term Contract For Tansportation Businesses |
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Meals, Snacks & Nonalcoholic Beverages Prepared Under Long-Term Contract Other Than For Transportation Businesses |
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Alcoholic Beverages Prepared For Immediate Consumption Under Long-Term Contract |
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Meals, Snacks, & Beverages Prepared For Catered Events |
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Meals, Snacks & Nonalcoholic Beverages Served At Catered Events On The Caterer's Premises |
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Meals, Snacks & Nonalcoholic Beverages Served At Catered Events Away From The Caterer's Premises |
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Alcoholic Beverages Prepared For Catered Events |
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Delivery Services For Food & Beverages |
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Other Services |
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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 |
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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 | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Food Service Contractors 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 Food Service Contractors 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). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Food Service Contractors 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 | 5% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Food Preparation and Serving Related Occupations | 74% | |||
| Supervisors of Food Preparation and Serving Workers | 9% | |||
| Supervisors of Food Preparation and Serving Workers | 9% | |||
| First-Line Supervisors of Food Preparation and Serving Workers | 6% | |||
| Cooks and Food Preparation Workers | 23% | |||
| Cooks | 15% | |||
| Cooks, Institution and Cafeteria | 9% | |||
| Food Preparation Workers | 7% | |||
| Food Preparation Workers | 7% | |||
| Food and Beverage Serving Workers | 34% | |||
| Fast Food and Counter Workers | 20% | |||
| Fast Food and Counter Workers | 20% | |||
| Waiters and Waitresses | 8% | |||
| Waiters and Waitresses | 8% | |||
| Other Food Preparation and Serving Related Workers | 8% | |||
Food Service Contractors Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Food Service Contractors 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 Service Contractors 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 Service Contractors industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $3,240,200,492 on Food Service Contractors. It has awarded 1795 contracts to 374 companies, with an average value of $8,663,638 per company.| Most Recent Contracts | Date | Total Award Amount |
|---|---|---|
| RAZOR CONSULTING SOLUTIONS, INC. 1416 10th Street Sw Watford City, ND | Jun 30, 2023 | $4,511 |
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