Business Idea: Start A Specialty Food Business in 2024
Specialty food refers to a category of food prepared in small quantities using premium and unique ingredients sourced globally. Quality ingredients add an extra health dimension to produced foods and provide a wide range of micro-ingredients like vitamins, minerals, and enzymes.
According to research, the global specialty food ingredients market is expanding at an annual growth rate of 6.4%.
Therefore, starting a specialty food business in 2024 could be your big-time business idea. Identify a niche and pick a reliable supplier for your business. Decide on the business type and register it before applying for business licenses and permits.
Revenue & Profitability
How much do specialty food businesses make?
- On average, successful specialty food businesses report $597K/year in revenue.
- 100% of specialty food businesses report being profitable.
Startup Costs
How much does it cost to start a specialty food business?
- It can cost as low as $500 to start a specialty food business.
- It can cost as high as $1,000,000 to start a specialty food business.
Learn more about the costs of a specialty food business.
Examples Of Successful Specialty Food Businesses
Successful specialty food business businesses and case studies
Andrew Buehler launched Urban Smokehouse, the world’s first digitally native BBQ brand, through a Summer Kickstarter campaign, raising over $30,000 in pre-orders; since then, the company has achieved monthly sales of over $5,000 split between their website and in-person pop-ups and events, relying heavily on word of mouth and organic social media.
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Liberated Specialty Foods saw impressive growth, going from 100 retailers in 2016 to over 1,000 currently, while selling a range of foods online and in stores that are suitable for Keto, Paleo, Atkins, and trending diets, with a focus on helping those suffering from autoimmune diseases like Crohn’s and Colitis.
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See full list of successful specialty food businesses.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.