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.
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.
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.
