NAICS 311942 Quarterly Industry Report
Spice and Extract Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 311942Sector: 31Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 311942 provides valuation-focused intelligence for professionals assessing spice and extract manufacturing businesses. Additional data is drawn from Bureau of Labor Statistics[7], U.S. Census Bureau[8].. Data is sourced from FDA[6] food safety and labeling regulations, USDA[9] agricultural import data, and SBA size standards[10] to support business appraisals, acquisition due diligence, lending decisions, and investment analysis for spice and seasoning enterprises.
Industry Snapshot
Key metrics for the spice and extract manufacturing industry.
Industry Definition & Overview
Spice and Extract Manufacturing (NAICS 311942) encompasses establishments primarily engaged in manufacturing spices, table salt, seasonings, flavoring extracts (except coffee and meat), natural food colorings, and dry mix food preparations such as salad dressing mixes, gravy mixes, sauce mixes, frosting mixes, and other dry mix preparations. These manufacturers source raw spices from global origins, clean, grind, blend, and package them for retail consumer, foodservice, and industrial food ingredient applications. The U.S. Census Bureau[5] classifies spice and extract manufacturing separately from condiment manufacturing (NAICS 311941) and flavoring syrup production (NAICS 311930).
The U.S. spice and seasoning market generates billions in annual sales, driven by consumer interest in global cuisine flavors, cooking from scratch, and clean-label natural seasonings. The FDA[6] regulates spice product labeling, adulteration standards, food safety requirements, and extract composition rules. Growing demand for organic spices, ethnic seasoning blends, private-label spice lines, and natural food colorings has expanded the category beyond traditional commodity spice grinding into premium and value-added seasoning blend development.
Business valuations for spice and extract manufacturers focus on global spice procurement networks and origin relationships, grinding and blending equipment capacity, brand portfolio breadth, and distribution reach across retail, foodservice, and industrial ingredient channels. Appraisers evaluate spice quality grading capability, blending recipe portfolios, packaging line versatility across consumer jars, foodservice containers, and bulk bags, and the competitive positioning between major national spice brands, private-label producers, and specialty ethnic seasoning companies.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for spice and extract manufacturing operations
- Revenue and profitability analysis across ground spices, seasoning blends, extracts, dry mixes, natural food colorings, and table salt segments
- SBA size standard classification and lending threshold data for NAICS 311942
- Comparable transaction data from recent spice company acquisitions, seasoning brand sales, and manufacturing facility transactions
- Market analysis covering spice consumption trends, ethnic seasoning growth, organic spice demand, clean-label natural flavoring, and private-label competition
- Workforce and labor cost benchmarking for grinders, blending technicians, extract processors, packaging operators, and quality control specialists
- Industry risk assessment including global spice commodity pricing, supply chain disruption from producing origins, food adulteration exposure, and competitive dynamics
- Regulatory compliance overview covering FDA spice labeling, adulteration standards, extract composition rules, organic certification, and FSMA preventive controls
- Capital expenditure profiles for spice grinders, blending systems, extract processing equipment, packaging lines, and climate-controlled storage facilities
- Production metrics including pounds ground per shift, blend accuracy rates, extract yield percentages, packaging speeds, and cost per unit benchmarks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Food Manufacturing | 311 |
| Industry Group | Other Food Manufacturing | 3119 |
| NAICS Industry | Seasoning and Dressing Manufacturing | 31194 |
| National Industry | Spice and Extract Manufacturing | 311942 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 311941 | Mayonnaise, Dressing, and Other Prepared Sauce Manufacturing | Condiment and prepared sauce manufacturers purchasing spice blends, extracts, and dry seasoning mixes as ingredients for dressing and sauce production formulations |
| 311930 | Flavoring Syrup and Concentrate Manufacturing | Flavoring syrup manufacturers using extracts and natural flavorings produced by spice and extract operations as ingredients in beverage concentrate formulations |
| 311920 | Coffee and Tea Manufacturing | Coffee and tea manufacturers sharing extract processing technology and natural flavoring production methods with spice and extract operations |
| 424490 | Other Grocery and Related Products Merchant Wholesalers | Other grocery and related products merchant wholesalers distributing spices, seasonings, and extracts to retail grocery and specialty food distribution channels |
| 445110 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | Supermarkets and grocery retailers operating spice and seasoning sections representing the primary retail distribution channel for consumer spice products |
| 722511 | Full-Service Restaurants | Full-service restaurants purchasing spices, seasonings, and extracts in foodservice packaging for kitchen preparation and recipe flavoring applications |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 13.0% | 60 |
| 2 | Illinois | 8.0% | 37 |
| 3 | Wisconsin | 7.4% | 34 |
| 4 | Texas | 7.4% | 34 |
| 5 | Florida | 6.1% | 28 |
| 6 | New Jersey | 5.0% | 23 |
| 7 | Missouri | 4.1% | 19 |
| 8 | Washington | 3.0% | 14 |
| 9 | New York | 3.0% | 14 |
| 10 | Michigan | 2.8% | 13 |
% Of Establishments
0%
13%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
56
Total SBA Loans
$11.7M
Total Loan Volume
$210K
Average Loan Size
10 yrs
Average Loan Term
11.18%
Average Interest Rate
336
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[11] classifies Spice and Extract Manufacturing (NAICS 311942) with a size standard of 650 employees. Spice companies within this threshold qualify for SBA-backed lending[12] and government contracting preferences supporting sourcing, production expansion, and brand development investment. Eligible businesses can access SBA 7(a) loans[13] for working capital, equipment, and acquisition financing, while 504 loans[14] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Lendistry SBLC, LLC | 16 | $4.8M | $300K |
| 2 | LAF CU | 8 | $2.7M | $333K |
| 3 | Bell Bank | 8 | $2.0M | $250K |
| 4 | Northeast Bank | 16 | $1.5M | $93K |
| 5 | Celtic Bank Corporation | 8 | $798K | $100K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for spice manufacturing?
Spice and Extract Manufacturing is classified under NAICS code 311942, covering spice grinding, seasoning blends, and extract production per the U.S. Census Bureau[5] classification system.
What is the SBA size standard for spice manufacturing?
The SBA[11] sets the size standard for NAICS 311942 at 650 employees, qualifying eligible spice and extract manufacturers for small business lending and government contracting programs.
How are spice manufacturing businesses valued?
Valuations focus on global sourcing networks, grinding and blending capacity, brand portfolio breadth, and distribution reach per USDA[9] agricultural import and market data.
What products does NAICS 311942 cover?
Products include ground spices, seasoning blends, flavoring extracts, table salt, dry mixes, and natural food colorings per U.S. Census Bureau[5] product classification definitions.
What trends are driving spice market growth?
Consumer interest in global cuisine flavors, ethnic seasoning blends, organic and clean-label spices, cooking from scratch, and natural food coloring alternatives drives category innovation.
What risks affect spice manufacturers?
Major risks include global spice commodity pricing from producing origins, food adulteration and contamination exposure, supply chain disruption, import dependency, and competitive private-label growth.
What regulations apply to spice products?
The FDA[6] regulates spice labeling, adulteration prevention, extract composition standards, organic certification compliance, and FSMA preventive controls for manufacturing operations.
How important is global sourcing to spice companies?
Global procurement from India, China, Vietnam, Indonesia, and other producing regions is critical, as most spices are imported, creating supply chain management and quality assurance requirements.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]FDA fda.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]U.S. Census Bureau census.gov
- [9]USDA usda.gov
- [10]SBA size standards sba.gov
- [11]SBA sba.gov
- [12]SBA-backed lending sba.gov
- [13]SBA 7(a) loans sba.gov
- [14]504 loans sba.gov
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