50 Food Manufacturing Business Ideas You Can Start Today [2024]

Updated: July 24th, 2023

Interested in starting a food manufacturing business in 2024?

We put together 50 of the best food manufacturing businesses you can start in today.

For each business idea, we’ll show you real-world examples of other food manufacturing businesses to help you see what it really takes.

Here's the full list:

1. Start a healthy drink business

With emerging trends around health in the last few years, there is a large demand for healthy beverages. Starting a healthy drink business involves sourcing quality and healthy ingredients such as vitamins, minerals, protein, and others.

Consumers are hungry for good-tasting drinks that make them feel great without sacrificing taste. From smoothies to juices and kombucha beverages, there are many opportunities available in the market to easily create a profitable healthy drink business.

How much you can make: $500 — $900,000/month

How long does it take to build: 215 days (?)

How I Started A $100K/Month Ayurveda Beauty And Wellness Beverage

A beauty and wellness brand based on Ayurveda, Auric, is making 150,000 sales per month after launching in September 2018 and is currently 95% bootstrapped, with the company focusing on social media and D2C strategies and driving traffic to its website to understand its end consumer.

Deepak started Auric over 6 years ago
Deepak grew the business to $300K/month
It cost Deepak $500000 to start the business
Read by 8,799 founders

2. Become a chocolate maker

Rarely do you come across someone who does not love chocolate. That’s good reason to start a chocolate making business!

According to statistics, the global chocolate market size is expected to grow at a CAGR rate of 4.6%.

Starting a chocolate business can yield profits in any part of the world. However, to achieve the high profit margins, you ought to make chocolate with quality ingredients. Then, create a niche with a unique selling proposition.

How much you can make: $12,000 — $4,500,000/month

Selling Dog-Themed Chocolate and Donating All Profits to Animal Rescue

Rescue Chocolate is an NYC-based vegan, organic and fair-traded chocolate company that donates profits to animal rescue organizations and has partnered with hundreds of fundraising groups in 8 years.

Sarah started Rescue Chocolate over 14 years ago
Sarah grew the business to $12K/month
Read by 6,156 founders

3. Start a healthy snack food business

Businesses with healthy snacks are becoming increasingly popular. This is because people are becoming more conscious of what they eat and the ingredients used in their food products.

Compared to a few decades ago, more people value health over anything else. A tasty snack food business can be a great way to turn your passion for snacking into profit.

The global healthy snacks market is expected to reach $152B by 2030, and there’s no sign of this slowing down. Healthy snacks can include anything from protein bars to gluten/dairy-free alternatives to chips, cookies, crackers, and more.

How much you can make: $15,000 — $3,000,000/month

How long does it take to build: 270 days (?)

How We Started A Caffeine Gum Product, Sold 12 Million Pieces, And Landed A Deal With CVS

Neuro co-founders Kent Yoshimura and Ryan Chen developed their functional gum and mint products to offer a portable, healthy, and efficient alternative to energy drinks and supplements, hitting 12M pieces sold and generating ~$500k in monthly revenue with over 25% repeat customer rate and retail presence in over 6,500 locations including 5,000 CVS stores.

Ryan started Neuro over 8 years ago
Ryan grew the business to $500K/month
Read by 18,706 founders

4. Start a bakery

Everyone loves baked goods, be it sweet items like cakes, muffins, and cookies or savory baked food like pizzas, buns, bread, and puff pastry. Baking takes a lot of effort and patience, which is why many people buy baked items from stores or restaurants instead of baking them at home.

Starting a bakery can be a rewarding business opportunity if you have a passion for baking. If you plan to start a bakery, consider that happy customers often become repeat customers. Therefore, always focus on quality and work on customer satisfaction.

To start a bakery , pick an ideal format. Some options include:

  • Counter-style bakery
  • A hybrid bakery with a cafe,
  • Food truck with a bakery
  • Home bakery.

Write a suitable business plan and choose the correct location.

How much you can make: $2,500 — $25,000/month

How much does it cost to start: $2,000 (?)

How long does it take to build: 60 days (?)

How This Couple Left France To Build Their "American Dream:" A Six-Figure Online French Bakery

French chef and founder of online bakery Pastreez, Anthony Rosemond, shares keys to success including validating ideas with the market, focusing on SEO and organic growth, building customer relationships through email and SMS, never offering discounts but offering freebies, and diversifying the business with new products and content on social media.

Anthony started Pastreez about 7 years ago
Anthony grew the business to $25K/month
It cost Anthony $7000 to start the business
Read by 6,694 founders

5. Start a wine production business

Do you understand the basics of wine production? Starting a wine production business can be a significant step to building a stable financial future. A full-production winery buys its grapes from reputable sources, then crushes and processes them onsite.

If you plan to start a wine production business, note that it might take up to 4 years to take any product to market. Besides, you must invest upfront in expensive production equipment and purchase grapes from reputable farmers.

Focusing solely on the wine production business allows producers to focus more on winemaking. Therefore, you can capitalize on a particular trend faster and often produce more exciting wines.

6. Start a honey production business

Honey contains antioxidants that protect the body from inflammation.

Inflammation leads to various health issues, including heart disease, cancer, and autoimmune cancer. Given its health benefits, honey can be a significant health food sector to focus on, so long as you love beekeeping.

To start a honey production business, ensure you have relevant beekeeping knowledge and understand the regulations around beekeeping. Focus on selling your products to the local market and expand to other areas as the business grows,

How much you can make: $10,000/month

How long does it take to build: 150 days (?)

How I Launched A Flavoured Honey Brand & Made $16K In 30 Days

Chandler Honey is a Canadian organic honey brand with unique flavors, founded by Tique Chandler. With only 2 years since incorporation, the brand is now in 150+ stores in Canada and brings in $10k revenue monthly.

Tique started Chandler Honey over 3 years ago
Tique grew the business to $10K/month
It cost Tique $50000 to start the business
Read by 4,410 founders

7. Start a broth manufacturing business

Broth is simply soup consisting of meat or vegetables cooked in stock and sometimes thickened with barley or other cereals.

As consumer awareness of the health benefits of bone broth grows, the demand has increased. Reports indicate that the market segment in bone broth-based products is growing rapidly. Therefore, starting a broth-making business can be a great business idea.

If starting a broth making business, study the market and identify the target. Decide the type of soup you intend to sell and make sure you can follow the state’s guidelines for running a broth-making business.

How much you can make: $52,944/month

How long does it take to build: 90 days (?)

How I Healed My Injury With Bone Broth And Bootstrapped A $540K/Year Business

Bluebird Provisions Bone Broth is North America's fastest-growing bone broth brand, doing 49,000 per month and growing 50% YoY, with 5000% growth in customer base since starting, thanks to an SEO-focused strategy, email marketing, referrals, and Amazon.

Connor started Bluebird Provisions about 5 years ago
Connor grew the business to $52.9K/month
It cost Connor $30000 to start the business
Read by 3,259 founders

8. Start a vegan pet food business

It is estimated that the global vegan pet food market will grow to $14.1 billion in the next few years.

According to industry analysts, pet owners realize the nutritional benefits of vegan pet food, hence the market growth. Consequently, starting a vegan pet food manufacturing business can be profitable.

To start a veg food business, research the market and develop unique branding for your vegan pet food.

How much you can make: $300,000/month

How much does it cost to start: $5,000 (?)

How long does it take to build: 240 days (?)

We Started A $3.6M/Year Medical Equipment Business [From India]

Healthsols Facilitators Pvt Ltd is a medical equipment and surgical items supplier to B2B entities such as hospitals and clinics that started around 6 months ago with an investment of INR 3000 and have now recruited 18 employees in 11 cities, while planning to establish their own manufacturing unit.

M started Healthsols over 3 years ago
M grew the business to $300K/month
It cost M $5000 to start the business
Read by 3,412 founders

9. Start a cheesecake production business

A cheesecake is a sweet dessert made with fresh cheese, eggs, and sugar. Cheesecake baking can be a lucrative business. According to research, the cheese market is expected to grow at a CAGR of 3.7%.

Market experts attribute this growth to a growing demand for cheesecakes by generation Z customers worldwide. Therefore, starting a cheesecake production business in 2024 could be profitable.

To start the cheesecake-making business, research and identify the target market. You can sell your cheesecakes nationally to retailers, restaurants, or grocery stores.

How much you can make: $5,400/month

How I Started A Profitable Food Entrepreneurship Blog

How Brett Lindenberg built a profitable food entrepreneurship blog, FoodTruckEmpire.com, from his apartment in Minnesota that now gets over 300,000 monthly page views and has an email subscriber list of over 35,000, grossing $5,400 monthly in 2018, by conducting over 100 interviews with food entrepreneurs and offering an online Food Truck Academy class to prepare aspiring entrepreneurs for the real challenges of starting a successful food business.

Brett started Food Truck Empire over 10 years ago
Brett grew the business to $5.4K/month
Read by 15,412 founders

10. Start a protein powder business

Protein powder is a popular nutritional supplement that helps build muscle, repair tissue, and can make enzymes and hormones. More people prefer protein powder owing to its health benefits.

Therefore, starting a protein powder business in 2024 can be a viable idea.

To start the business, perform market research and make a perfect protein shake recipe. Create a marketing strategy and partner with distributors to help cover a wider market.

How much you can make: $52,944 — $500,000/month

How long does it take to build: 135 days (?)

How I Created A $30K/Month Greens Superfood Powder Supplement

SuperGreen TONIK's founder developed a greens powder supplement with 38 superfood nutrients, adaptogenic herbs, vitamins, and minerals that achieved $250k in sales in its first year and is looking to hit 7-figures in its second year, thanks to transparency, repeat customers, and focusing on fewer, properly dosed ingredients.

Adam started Human Tonik over 4 years ago
Adam grew the business to $200K/month
It cost Adam $50000 to start the business
Read by 14,885 founders

11. Start a Potato Chips Production Business

The production of potato chips is a new and emerging business that has been growing a lot in the last few years. Potato chips are one of the most popular snacks in the world.

The production of potato chips is very simple but profitable. The revenue generated by the potato chip production industry is $10.6 billion in 2022.

Based on these statistics, starting commercial potato chips manufacturing business can be profitable. However, it is important to note that various internal and external factors influence business profitability.

Identify the market potential and make an investment plan before starting a business. To start a potato chips business, you'll need machinery and space to process potatoes.

It is also important to pick a marketing strategy for your potato chips business. Combining digital marketing and traditional marketing can help you promote your business.

How much you can make: $99,999/month

How long does it take to build: 365 days (?)

I Turned A Recipe In My Kitchen Into A $10MM/Year CPG Snack Company

Ka-Pop! is an Ancient Grain snack company that has grown over 300% per year, reaching nearly $10 million in annual sales by 2021, through innovation, passion, demos, social media, TV appearances, and driving relationships with retailer partners.

Dustin started Ka-Pop! Snacks about 5 years ago
Dustin grew the business to $100K/month
Read by 6,189 founders

12. Start a pickle business

Pickle is a juice of vegetables or fruits preserved in brine or vinegar. The global demand for packed pickles is snowballing, making it a viable fruit & vegetable business idea.

How much you can make: $10,000/month

How We Launched A Viral Pickle Juice To Cure Our Hangovers

Brine Brothers sells all-natural pickle brine (pickle juice), generating over $10,000/month and winning an investment from Barstool and Jon Taffer, and is determined to become a million-dollar beverage company.

Harris started Brine Brothers about 7 years ago
Harris grew the business to $10K/month
Read by 14,600 founders

13. Start a sauce and ketchup business

Ketchup is used primarily in commercial fast-food shops, but its demand is increasing at the household level. The demand for ketchup is supported by the significant growth in the food and beverage industry.

How much you can make: $2,250 — $12,500,000/month

How long does it take to build: 86 days (?)

How We Started A Successful Hot Sauce Brand

Trini Pepper Sauce co-founder and co-owner, Mustafa Mannan, shares how he successfully imported and manufactured his family's unique pepper sauce recipe and launched it through a Kickstarter campaign, now selling an average of $3,000/month in revenue.

Mustafa started Trini Pepper Sauce over 10 years ago
Mustafa grew the business to $2.25K/month
Read by 33,366 founders

14. Start a fish processing plant business

A seafood processing plant is a facility where a wide range of procedures is done to prepare wild-caught or farmed seafood for retail consumption.

Seafood processing plants provide fish washing, chilling, grilling, glutting, filleting, shucking, cooking, smoking, salting, drying, preserving, or canning fish. The fish processing plants must have cold storage for the processed seafood.

15. Start a meat grower business

Cultivated meat, also known as grown or cultured meat, is genuine animal meat produced through the cultivation of animal cells.

The introduction of meat growing eliminates the need to raise farm animals for food. According to a CNBC report, lab-grown meat is making strides, a trend that is becoming unstoppable. Experts project that the cell-based meat market will reach 94.5 billion in the next few years.

If you are starting a lab-grown meat business, establish and meet safety requirements. Then, develop a clear and understandable labeling practice, and focus on offering the customers a price parity with conventional meat.

16. Start a rice flour milling business

Rice is the second most important cereal crop in the world. Rice is consumed in excess of 509 million metric tons each year, and this amount will keep increasing over the coming years.

As a result, rice milling could be the most profitable business today.

However, rice mill profitability depends mainly on where its location, how large or how much capacity it has, and how well it is equipped.

It would help if you considered starting a rice mill in an area where there are farmers who produce rice. Consumers rarely purchase paddy, so rice farmers and distributors will likely be your biggest customers.

17. Start an ice cream business

If you have ever dreamed of owning an ice cream business, [[current_year]] might be the year to make it happen.

An ice cream shop is the easiest and, if done right, the most profitable business venture you will ever begin. Experts predict the ice cream market size in the coming years will grow at a CAGR of 4.2%.

A few reasons for expanding the market include the availability of innovative flavors and the growing popularity of impulse ice cream products like cones, sandwiches, and pops. Additionally, health consciousness among consumers is likely to increase the demand for premium ice cream brands.

Here are some ice cream business ideas you might consider:

  • Start an ice cream cone production business
  • Start a vegan ice cream business
  • Start an ice cream cookbook business
  • Start a drive-thru ice cream and frozen yogurt business
  • Start an ice cream producer business
  • Start an ice cream spoon manufacturing business
  • Start an ice cream wholesaler
  • Start an ice cream truck business

How much you can make: $65,000/month

How long does it take to build: 730 days (?)

How This NASA Engineer Built A $65K/Month Kitchen Tools Business

Midnight Kitchen Tools founder Michael Chou shares how he identified a need in the market for ergonomic kitchen tools, and built a successful business through Kickstarter campaigns, e-commerce capabilities, and partnerships with other companies.

Michael started Midnight Kitchen Tools about 10 years ago
Michael grew the business to $65K/month
It cost Michael $25000 to start the business
Read by 1,640 founders

18. Start a tapioca processing and packaging business

Tapioca is a starch extracted from the cassava root, containing mainly carbs. Even though tapioca doesn't have noteworthy health benefits, gluten-free individuals find it useful.

Global tapioca sales are expected to exceed $4.7 billion.

Market analysts attribute the market's positive growth to escalating demand from the food and beverage industry along with sales of tapioca pearls.

Many entrepreneurs are benefitting from starting a tapioca processing business. If you are interested in making cool money and you are knowledgeable about the basics of cassava processing, a tapioca processing plant may be the best business idea for you.

The first step in starting a tapioca processing business is market research, so you know who your potential customers and competitors will be. Defining your target market and understanding your competition, as well as securing a good location, will put you on the road to success.

19. Start a fruit processing plant

Fruit processing involves changing the raw fruits to a ready to consume form. There are numerous stages of fruit processing, including drying, juicing and canning.

Popular processed fruit types include canned fruit, fruit juices, and fruit preserves.

Experts project that the global processed fruits market will reach over 581 Billion in the next few years. The excalating market is because consumers are aware of the nutritional value in processed fruit.

Besides, consumers have become more health conscious, and so they prefer fruits and fruit products to help them live a healthy lifestyle. Therefore, starting a fruit processing plant could be a profitable business venture.

20. Start a vinegar production business

Vinegar is a popular household item with surprising benefits. Experts project that the global vinegar market will grow by a CAGR of 1.6% to reach $1.43 billion in a few years.

Therefore, starting a vinegar production company in 2024 could be a highly profitable business for you. To start the vinegar production plant, identify the source of raw materials and research the market potential. Map out your target customers and identify the competitors.

Focus on delivering quality products to the market and ensure a good marketing plan.

21. Start an oat miling business

Oats are grains from the Avena Sativa plant, and they are consumed by humans in oatmeal or rolled oats and can be processed into animal feed.

Experts in the food industry say oat consumption has increased over the past decade.

Increasing demand for oats can be attributed to consumers realizing that oats contain a high level of soluble fiber and an excellent lipid profile. As the percentage of oat consumers grows, starting an oat milling plant can be a great business venture.

Start an oat milling business in an oat-producing region. Remember that your oat mill's profitability largely depends on its capacity and size. Moreover, you must ensure high-quality end products to attract and retain clients.

22. Start a noodle business

We live in a fast-growing world where people prefer instant and fast-food preparation. As a result, the noodles market potential has tripled in urban and rural areas. The noodles market level is increasing daily due to the increase in customers. This trend makes the noodles business a lucrative opportunity for people of all ages.

Noodles business may consist of production, wholesale, and retailing service.

23. Start a packaged herbs and spices business

Would you like to start a food manufacturing business from home? You might find success in the business of packaging herbs and spices.

You can start an herbal and spices farm from the comfort of your own home, process and package the products, and sell them at a profit.

To succeed in the packaged herbs and spices business, you must have the right marketing and branding strategies. You can market the products using modern and traditional marketing methods.

How much you can make: $125,000/month

This Veteran Built A $1.5M Spices & Rubs Brand

Frag Out Flavor, a veteran-owned spice blend and BBQ rub company, generates around $125k/month and is backed by a loyal customer base while also giving back to the veteran community through various initiatives.

Patrick started Frag Out Flavor over 6 years ago
Patrick grew the business to $125K/month
Read by 2,953 founders

24. Start a peanut and nut sales business

Nuts are some of the world’s popular snacks. According to research, global nut consumption is increasing rapidly and will reach a market value of approximately $74.05 Million over the next few years.

The increased consumption is due to the growing awareness about the health benefits among consumers. Nuts are rich sources of vitamins, proteins, antioxidants, fiber, and other essential minerals.

Moreover, the increasing population and increased disposable income contribute to the increased consumption of peanuts. Starting a peanuts and nuts sales business could be the most profitable business idea.

25. Start a ginger oil production business

Ginger is one of the oldest spices that offer multiple medicinal benefits. Experts estimate that as more people realize the health benefits of ginger, the global consumption of ginger oil will increase over the next few years.

Therefore, starting a ginger oil processing company can be highly profitable. To start a ginger oil manufacturing company, you should complete the business registration and apply for the municipal trade license.

The machinery needed to establish a ginger oil manufacturing business includes an evaporator vessel, a condenser, a Florentine flask, and a cooling system. Remember to source high-quality raw materials so your customers will keep coming back.

26. Start a frozen veggies business

Are you interested in a business idea that involves feeding people?

Frozen veggies refer to vegetables stored and transported under reduced temperatures. If you have a vegetable farm, you can maximize profits by venturing into the frozen veggies business. Freshly harvested vegetables are frozen immediately so they can retain their nutritional value.

How much you can make: $8,333,333/month

How Gail Becker Went From a Corporate Career to Launching CAULIPOWER

Caulipower CEO, Gail Becker's startup, which generated $5 million in revenue in its first year, now operates in 25,000 stores and has a $100 million estimated revenue, and she shares her secrets to success.

Gail started CAULIPOWER over 7 years ago
Gail grew the business to $8.33M/month
Read by 908 founders

27. Start a vegan baby food business

The overall baby food sector is growing rapidly. One of the factors influencing this growth is the infant nutrition industry is rising demand for vegan and organic baby food. Besides, the global infant population has been rising sharply, a trend that has promoted plant-based baby food products.

Therefore, starting a vegan baby food business could be a profitable venture.

28. Start a Dairy Farming Business

Dairy farming is a business that involves the raising of dairy cattle to produce dairy products. The products made from dairy farming include milk, cheese, yogurt, ice cream, and other dairy products.

Dairy farming is one of the most profitable businesses in the world. It is one of the few industries where a small farmer can earn more than an industrialist.

The average salary for a dairy farmer in the United States is $48,733 as of October 27, 2022. However, the salary range typically falls between $45,405 and $54,912.

This business can be started on any scale, depending on your financial position, availability of land, and capital required for starting this business. You will need proper land for your cows and other animals that will be used in the process of producing dairy products.

29. Start a cashew nut exportation business

Consider cashew nuts if you are considering venturing into a nuts production business. Cashew nuts feature many health benefits, making them a popular edible snack.

According to recent statistics, global production of cashew nuts ranges between 720 and 790 thousand metric tons annually.

To state cashew nuts exportation business, research the global market and target the highest cashew nut consuming countries.

30. Start a jam production business

A jam production business makes different jam flavors packaged in jars for distribution.

Packed with taste and flavor, jam is one of the essential food products that enhance the taste of bread and other foods. Besides, jam is a healthy food product containing fruits and necessary supplements with vitamins and minerals.

Market data forecasts that the global jam market will reach $9.87 billion in a few years. Therefore, starting a jam production and sales business can be a lucrative business opportunity.

31. Start a gluten-free flours business

Gluten-free products have become increasingly popular among consumers. The popularity of gluten-free diets can be attributed to their health benefits.

Market experts predict that gluten-free products will reach $7.5 billion within a few years. The resulting growth has created a business opportunity for small-scale and large-scale food companies.

Is starting a healthy food business something you are interested in? It may be a good idea to start your own gluten-free flour business.

A gluten-free floor is essential for generation Z and millennial cohorts with gluten allergies and celiac disease, which causes inflammation in the small intestines.

To start a gluten-free flour business, research the market and decide who your customers shall be. Will you target online buyers, or will you distribute gluten-free flour to outlets across the country? Then, research the competition, focusing on what type of gluten flour they supply, their customers, and their marketing strategies.

Finally, focus on developing a superior product to win you long-term customers.

32. Become a lemonade seller

Demand for lemonade has increased as consumers’ knowledge of its health and nutritional benefits have grown. According to research, the lemonade market is growing at a CAGR of 5.7% and will surpass $2.651 million in the next few years.

If you are interested in starting a lemonade business, consider putting up a stand at a busy location.

A lemonade stand is a low-barrier-to-entry business you can start in a day and generate good profits. You can make lemonade from home and sell it to customers at a drive-through stand.

33. Start a cereals selling business

The cereal business is a high-earning profit business globally. If you are starting a cereal business, you can either focus on a single cereal or different cereals.

To maximize profitability, you can lease or buy a farm, grow cereals and sell to your customers at competitive pricing. Alternatively, you can buy cereals from the customers when the market is flooded, store them, and resell them when the market prices are favorable.

34. Start a rice bran oil production business

One of the most common unconventional sources of edible oil is rice bran.

Start a rice bran oil extraction business in rice-growing regions where raw materials are plentiful and stress-free. Research the market to determine who your customers are and what quantities they consume over time.

Knowing who your competitors are is important to devise effective strategies to meet their demands.

35. Start a ginger & garlic paste processing business

The ginger garlic paste business can earn a reasonable return with suitable packaging and marketing. You can start your own ginger garlic paste business from home.

To start, grow ginger and garlic on your backyard farm. It would help if you also learned how to make ginger garlic paste from home. You can use online marketing strategies to reach buyers and target local customers.

36. Start a healthy sugar substitutes business

The sugar substitute market is expected to grow at a CAGR of 4.9 to reach $24.1 billion in a few years.

The main factors driving this market growth include:

  • Rising demand for functional food products
  • Growing prevalence of diabetes and obesity
  • Surging demand for natural sweeteners.

Therefore, starting a healthy sugar substitute business in 2024 can be profitable. This is because there is a ready market for healthy sugar substitutes, and more people will continue switching to healthier alternatives.

37. Start a sugar processing business

Sugar is one of the essential food items globally.

The global sugar consumption will continue growing at approximately 1.4% per annum to reach 199 Mt in few years.

Population growth and income growth are responsible for the increase in consumption. In light of the future demand for sugar, starting a sugar processing plant can be a very lucrative and profitable venture.

You must have a business plan for your sugar processing business before you start. Sugar processing businesses also require a license and a registered business name.

38. Start a diabetic food manufacturing business

The growing diabetic population around the globe and increased awareness of various health risks are some of the factors fueling the growth of the diabetic food market.

Diabetic food products are dietary products with low carbohydrate and sugar content and help control glucose levels in the blood.

With the diabetic population increasing at an alarming rate, the demand for diabetic food products will continue to rise. Thus, starting a diabetic food products business can be a lucrative opportunity.

39. Start a biscuit making business

Do you love confectioneries and food processing? A biscuit manufacturing business could be the best business idea for you.

Biscuit baking is one of the most financially lucrative and low-investment business ideas you can start in the current year. You can start a bake and pack your biscuits at home and sell them at wholesale or at a retail price to the end consumer.

40. Start a smoothie company

Over the next five years, the smoothie market is expected to grow at a CAGR of 9.3%.

This increase is attributed to the growing consumption of healthy beverages in emerging economies and a greater awareness of the need to live a healthier lifestyle.

Starting a smoothie company today can create a lucrative business opportunity. Before starting a smoothie company, research its benefits and overall profitability.

Also, research the requirements you need to operate the smoothie company in your area without stress from the authorities.

41. Start a genetically modified foods (GMO) manufacturing business

With so much innovation in today's world, starting a genetically modified food company is easier than ever. Genetically modified foods are produced by altering organisms' DNA through genetic engineering technology.

In light of the current economic situation, genetically modified foods are becoming increasingly popular. This is because GMO foods cost less to produce. Besides, GMO food production technology reduces the possibilities of weed invasion.

Growing populations and a need for cheaper food will make GMO food production more profitable. Therefore, 2024 could be the year you have been waiting to start your GMO food production business.

42. Start a salt production

Salt is essential in maintaining human health. According to statistics, about 90% of the world's population consumes salt.

With the population growth comes the demand for more salt supply. Therefore, starting a salt production business can be profitable.

Compared to other food supplies, salt processing is relatively inexpensive. If you want to start a salt processing business, do some market research and learn how to produce iodized salt.

To set up the salt processing plant, you must develop a business plan and arrange for funding.

43. Start a custard powder production business

Custard is a type of food item consumed as a dessert across the globe. Produced from corn, the custard is extremely rich in carbohydrates.

You will likely see custard produced in most regions by both the poor and the rich.

The fact that custard is a popular food across the globe makes its production a lucrative venture. In addition, custard powder production is a low startup investment that you can start from the comfort of your home.

44. Start a fresh pasta making business

Fresh pasta is an incredibly popular delicacy across the world. People love pasta because it is fairly affordable and offers incredible filling. Over the past years, pasta-making businesses have registered sustained growth.

With population growth, the demand for pasta will also keep increasing. Therefore, starting a pasta business today can be a profitable venture.

45. Start an alkaline coffee business

Alkaline coffee is made from natural coffee beans but enriched with phytonutrients, transforming the coffee into an alkalizing drink.

The new trend of alkaline coffee has registered a high demand from coffee lovers. This increased demand is because alkaline coffee promises healthier effects than the average coffee cup.

Therefore, starting an alkaline coffee brand in 2024 can be a profitable venture. However, profitability largely depends on choosing a strategic location, packaging and effective marketing strategies.

46. Start a sorghum miling business

Sorghum is a grain rich in vitamins and minerals like B Vitamins, Magnesium, Potassium, Phosphorous, Iron, and Zinc. It is also an excellent source of fiber, antioxidants, and protein.

Sorghum is the fifth most important grain after maize, wheat, rice, and barley.

Increasing numbers of people are becoming aware of the health benefits of sorghum, and its consumption is on the rise.

Thus, starting a sorghum milling business can be an incredibly profitable endeavor. If starting a sorghum mill business, consider setting up your business within sorghum farming regions.

47. Start a soy production business

Soy production business is one of the most profitable agricultural activities. Soybean is an important source of food, nutrients, and oil.

If you have idle land, consider starting a soy production business. You can sell your mature soybeans to millers or cereal shops in your locality.

48. Start a cocoa production business

Demand for organic cocoa is expected to increase at an average annual rate of almost 6.8% over the next few years.

With the global demand for cocoa increasing, there is an opportunity for cocoa farmers to earn more profits through the production of premium cocoa. If you are starting a cocoa farming business, develop an articulate business plan and secure productive land.

Obtain licensing and permission to venture into cocoa farming, so you are in a position to negotiate better market prices for your produce.

49. Start a tomato paste production business

Paste processing companies are highly profitable. Economically, they are very important and employ a large number of people.

To run a paste-producing factory, you need tomato processing machinery, machine operators, and subordinate staff. Paste production companies will make good profits if they are properly run.

50. Start a Potato Powder Business

Potato powder is a natural food supplement that can be used for health purposes. It is made from potatoes and contains many minerals, proteins, and vitamins. Potato powder is used for many purposes, such as baking, cooking, and making salads.

According to a market report, the global potato powder market was valued at USD 5 billion in 2019 and is projected to reach over USD 8 billion by 2026, expanding at a CAGR of more than 6% during the forecast period, 2020 – 2026.

The demand for potato powder is attributed to its versatile nature and the increasing health awareness and growing preference for nourishing plant-based food. Therefore, running a potato powder business can be a highly lucrative venture. To start, you can source potatoes from a local farmer's market or use your own grown potatoes.

You can start a potato powder business from home or rent a sizeable space for your equipment and storage of raw potatoes.

meet the author
Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.