StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Food Industry Analysis Paper - Essay Example

Cite this document
Summary
Food Industry Full Name University  Food Industry Analysis Paper Introduction Eating is perhaps one of the most basic human functions and has been around since the dawn of time. Everyone needs to eat and there needs to be an industry to provide for this need…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
Food Industry Analysis Paper
Read Text Preview

Extract of sample "Food Industry Analysis Paper"

Download file to see previous pages

This is not so with the food industry because it is a basic physical need. It may be that some luxury foods are done away with during times of economic crisis, but the food industry as a whole can be rest assured that it will be around for a long time to come. As the population of this country grows, so will the number of mouths that are needed to be fed. This ensures that should increase year-on-year for a long time to come. The purpose of this paper is to look at the strengths of the various categories of the food industry and determine how an increase in sales is reflected by increases in employment numbers, employee wages, and the number of restaurants.

Because this is such a large industry and covers tens of millions of people, I will focus specifically on New York City. The reason why I chose this place was because the city is famous for always being on the move. The diversity in the city means that there are many ethnic food restaurants available for customers to eat at. My hypothesis is that as the sales of the food industry are increasing, so must employment numbers, employee wages, and the number of restaurants. For an industry that seems to be booming, it would make sense to reinvest profits back into the industry itself, thereby ensuring its success over the short and long term.

The types of data that will be used in this paper are primary sources, such as the New York State Department of Labor and ReferenceUSA. To clarify what food restaurants will be taken into consideration, the NAICS code that will be looking at is 722211 (U.S. Census Bureau, 2002). This code specifically entails establishments that provide food services where the customer chooses his meal and pays for it before receiving it. To be clear, snack and non-alcoholic beverage bars will not be included in this analysis.

The dependent variable in this paper will be the sales numbers for the food industry as a whole. It is very easy to locate these figures because they are complied by the relevant departments each year for public knowledge. The scatter plot below shows the sales numbers in the food industry over the last few years: As can be seen from the graph, the food industry as a whole is growing year-on-year. Of course, the figure for 2012 is just an estimate since we don’t have those figures available yet.

In fact, in the last couple of years, the slope has gotten steeper, which suggests that the pace of the food industry will not slow down anytime soon. On average, the food industry’s sales are increasing by $22.13 billion each year or around 3 to 4%. From this, we can say that the outlook for the food industry is positive unless some unforeseen disaster occurs. The slope for this graph is y = 22.13x + 167.26, based on a base year of 1990. Looking ahead to 2020, we can make a prediction of the sales of the food industry with this equation.

The equation would be as follows: y = 22.13 (30) + 167.26 = $831.16 billion each year. Of course, the growth rate may change based on external factors that are outside of the food industry’s control. However, this figure gives a pretty good estimate of where the food industry will be by the end of this decade and shows that everything is looking positive. Now that we have shown that the sales for the food industry will continue to grow for some time yet, we need to see what is fueling that helping to fuel that growth.

This paper will look at three independent variables: employee numbers, employee wages, and number of restaurants. For employee numbers, New York City can

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Food Industry Analysis Paper Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.org/statistics/1446802-industry-analysis-paper
(Food Industry Analysis Paper Essay Example | Topics and Well Written Essays - 1250 Words)
https://studentshare.org/statistics/1446802-industry-analysis-paper.
“Food Industry Analysis Paper Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/statistics/1446802-industry-analysis-paper.
  • Cited: 0 times

CHECK THESE SAMPLES OF Food Industry Analysis Paper

Global Paper and Paper Products Industry Porter's Six Forces Analysis

In recent times, with the advanced technology and continuous modifications of various electronic tools, people have comparatively reduced the usage of paper but still could not ignore it.... The daily need of paper, newspapers, writing pads, various paper products is served basically by one source, the paper and paper products industry.... hellip; The major objective of this paper is to highlight the nature of the global paper industry....
10 Pages (2500 words) Research Paper

Gunns and the Australian Pulp and Paper Manufacturing Industry

GUNNS AND THE AUSTRALIAN PULP AND paper MANUFACTURING INDUSTRY Table of Contents 1.... is one of the largest companies operating in the paper industry business sector of the Australian economy.... The external environment of the company has been analysed using PESTEL analysis and the various competitive factors affecting the company have been identified utilising the Porter's five forces model analysis concerning the global paper industry.... The strict environmental regulations and the strong supplier power in the paper industry are identified to be having a significant impact on the company....
11 Pages (2750 words) Research Paper

Use of the scanning electron microscopy in the food industry

Use of the scanning electron microscopy in the food industry.... The capabilities of SEM in foreign body identification make the process quite valuable to the food industry.... The food industry operates in a spectrum that requires utmost cleanliness and absence of contamination.... This paper will examine the use of scanning electron microscopy in the food industry discussing its effectiveness in detecting and identifying foreign bodies in food compounds and products....
6 Pages (1500 words) Research Paper

Feasibility Analysis Paper

This paper includes critical and impartial look of the Good Addict venture through feasibility analysis study.... Feasibility analysis Feasibility analysis is a technique used to verify the viability of a business idea.... Product/ Service Feasibility analysis Product/ service feasibility analysis involves an assessment of the general appeal of the product or service that is proposed.... Industry/ Target Market Feasibility analysis It...
8 Pages (2000 words) Research Paper

Food Packaging Industry

The demographic environment of a packaged food industry consists of its customers profile mainly.... The objective of this part of the research paper is to focus on the general environmental trend analysis of food packaging industry along with analysis of this concern of Kraft Food Inc.... the demographic environmental analysis shows that in the year 2008 and 2009, Wal-Mart Stores Inc.... The industry is generally alarmed with activities related to packaging manners of food products with special emphasis on their protection....
13 Pages (3250 words) Research Paper

How Unhealthy Fast Food Is

Fast food industry proved successful in its strategies as in US alone, they were able to spend $126.... Mexican chains, Restaurants, and many other fast food chains mushroom in strategic areas of most countries, mostly in urban zones, which shift the eating paradigm of… Fast-food chains offer food that can be easily cooked.... These are chicken-joy menu (or fried chicken), french fries, burgers, ice creams or icy creams, chicken sandwiches, nuggets, soda, pizzas, or meals with processed viands, Urban workers, students and children easily persuaded to join the bandwagon of many fast-food advocates, especially that these companies utilized innovative multi-media advertisements in marketing its products....
19 Pages (4750 words) Research Paper

Bread Production in the US Industry

The paper is divided into two main sections; industry analysis and organisational analysis. The industry… While organisational analysis is subdivided into strategy evaluation, and core and distinctive strategies ' The bread industry is one of the most This is because customers' needs keep changing.... The main aim of this paper is to analyse the bread industry, some of the challenges the industry has been facing and how the challenges have been addressed by the companies....
7 Pages (1750 words) Research Paper

Food Packaging: Environmental Issues and Future Trends

The author of this paper analyses the environmental issues generated by packaging with special emphasis on food packaging.... In this paper, food packaging and future trends are discussed with reference to the criticism regarding the environment it is facing.... hellip; We are familiar with the packaging of food right from the beginning of this world.... Modern packaging of food is somewhat protective but unlike natural packaging, it doesn't degenerate easily and create hazards for a healthy environment....
8 Pages (2000 words) Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us