NAICS 31199 - All Other Food Manufacturing
This industry comprises establishments primarily engaged in manufacturing food (except animal food; grain and oilseed milling; sugar and confectionery products; preserved fruits, vegetables, and specialties; dairy products; meat products; seafood products; bakeries and tortillas; snack foods; coffee and tea; flavoring syrups and concentrates; seasonings; and dressings). Included in this industry are establishments primarily engaged in mixing purchased dried and/or dehydrated ingredients including those mixing purchased dried and/or dehydrated ingredients for soup mixes and bouillon.
Industry trends:
The All Other Food Manufacturing industry (NAICS 31199) is witnessing several qualitative trends shaping its future. One prominent trend is the increasing consumer demand for healthier and more sustainable food options. Companies in this sector are focusing on producing plant-based, organic, and clean-label products to cater to health-conscious consumers. There's also a notable shift towards transparency, with manufacturers providing more information about sourcing and production methods.
Innovation in food technology is another significant trend, with advancements in fermentation processes and biotechnology enabling the creation of novel food products that mimic traditional foodstuffs. Additionally, e-commerce growth continues to revolutionize industry dynamics, pushing businesses to enhance their online presence and direct-to-consumer sales channels.
Looking ahead, the industry is expected to see continued expansion in functional foods and beverages, which aim to offer health benefits beyond basic nutrition. The demand for convenience foods is likely to persist, driving innovation in packaging and shelf-stable products. Sustainability will remain a critical focus, with companies increasingly investing in eco-friendly practices and packaging solutions to meet regulatory and consumer pressures.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.