Fruit & Vegetable Manufacturers
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 1,551 fruit and vegetable manufacturers in the US produce frozen foods and juices; canned fruits, vegetables, and specialty foods; and dried and dehydrated foods and mixes. Canned foods account for about 46% of industry revenue, while frozen foods are 45%. The fruit and vegetable manufacturing industry is concentrated – the top 50 companies account for about 64% of industry revenue.
Variable Fruit And Vegetable Supply
The supply of fruit and vegetables available for processors varies by season and year to year due to changes in growing conditions and the number of acres harvested by growers.
Stricter Food Labeling Requirements
Fruit and vegetable manufacturers must comply with a variety of food labeling regulations.
Industry size & Structure
The average fruit and vegetable manufacturer operates a single location, employs 109 workers and generates about $50.1 million in annual revenue.
- The US fruit and vegetable manufacturing industry comprises about 1,550 companies that employ 169,000 workers and generate $77.7 billion in annual revenue.
- About 555 companies produce frozen foods, 725 produce canned products, and 185 produce dried and dehydrated products.
- Adults in the US consume about 1 cup of fruit and 1.4 cups of vegetables daily. Annual per capita consumption is about 130 pounds for frozen, canned, or dried fruits and 206 pounds for frozen, canned, or dried vegetables.
- The fruit and vegetable manufacturing industry is concentrated - the top 50 companies account for about 64% of industry revenue.
- Large US companies include Dole Food Company, Del Monte Corporation, The Schwan Food Company, Campbell Soup Company, JR Simplot, and Kraft Heinz Company.
Industry Forecast
Fruit & Vegetable Manufacturers Industry Growth
Recent Developments
Jan 23, 2025 - Falling Payrolls
- The producer price index for fruit and vegetable manufacturers, which measures prices paid by businesses, rose 1% in November compared to a year ago after rising 6.2% in the previous November-versus-November annual comparison, according to the latest US Bureau of Labor Statistics data. By comparison, the consumer price index for processed, canned, and frozen fruits and vegetables declined or was flat in November compared to a year ago and versus October. Employment by fruit and vegetable manufacturers fell 2.5% in October, while average industry wages declined by 2.5% over the same period to $22.43 per hour, per the BLS. Wholesale inflation was hotter than expected in November as prices for food rose.
- Import taxes are set to spike if President Trump makes good on his threat to impose a 25% tariff on goods from Mexico, resulting in higher prices for food and fresh fruit and vegetables in particular. According to the USDA, Mexico made up 69% of US vegetable imports and 51% percent of US fresh fruit imports in 2022, Specifically, data from the University of California, Davis finds that Mexico is the leading foreign supplier of tomatoes, avocados, raspberries, bell peppers, and strawberries to the US. If Trump follows through on his tariff threats, importers would bear those costs and likely pass them on to US consumers, resulting in higher prices and reduced selections in produce aisles. Moreover, Trump’s plan for mass deportations of undocumented workers – many of whom work in agriculture – would result in labor shortages and ultimately higher food prices, economists told The Atlantic.
- Hurricane Milton tore through most of Florida’s orange groves in October, delivering a major setback for growers in the state that have been dealing with the effects of citrus greening disease, Morningstar reports. Even before the storm, Florida's orange production had plummeted by an estimated 92% in 20 years, according to the USDA, which attributes the loss to natural disasters, such as freezing and hurricanes, and disease. Global supplies have also been constrained, with Brazil, which accounts for about a third of global orange production, also suffering losses due to citrus greening disease. Futures prices for frozen concentrated orange juice traded on the ICE Futures US exchange are up about 44% over the past year, and rose 5.8% in October alone. The US all orange forecast for the 2024 to 2025 season is estimated at 2.62 million tons, down 5% from the 2023-2024 season, per the USDA.
- A new study has found widespread human exposure to thousands of chemicals used in food packaging, Food Manufacturing reports. The study, published in the Journal of Exposure Science and Environmental Epidemiology, identified over 3,600 chemicals used in food packaging and other food contact chemicals (FCCs) that have been found in human urine, blood, and breast milk and reveals significant gaps in biomonitoring and toxicity data. “Our research establishes a link between food contact chemicals, exposure, and human health,” said Dr. Birgit Geueke, adding, “It also highlights those chemicals that have been overlooked in biomonitoring studies so far.” The researchers were surprised by the high number of FCCs, for which some evidence of human exposure exists, and said their study shows there needs to be more research about the toxicity of and exposure to many chemicals and regulations around their use in food packaging.
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