NAICS Code 424490-31 - Groceries & Related Products NEC (Wholesale)
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NAICS Code 424490-31 Description (8-Digit)
Hierarchy Navigation for NAICS Code 424490-31
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Tools
Tools commonly used in the Groceries & Related Products NEC (Wholesale) industry for day-to-day tasks and operations.
- Inventory management software
- Warehouse management software
- Transportation management software
- Electronic data interchange (EDI) software
- Barcode scanners
- Pallet jacks
- Forklifts
- Hand trucks
- Packaging equipment
- Label printers
Industry Examples of Groceries & Related Products NEC (Wholesale)
Common products and services typical of NAICS Code 424490-31, illustrating the main business activities and contributions to the market.
- Snack foods
- Spices and seasonings
- Baking supplies
- Canned fruits and vegetables
- Frozen foods
- Nuts and seeds
- Dried fruits
- Confectionery products
- Condiments and sauces
- Ethnic foods
Certifications, Compliance and Licenses for NAICS Code 424490-31 - Groceries & Related Products NEC (Wholesale)
The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.
- Good Manufacturing Practice (GMP): GMP certification ensures that the products are consistently produced and controlled according to quality standards. The certification is provided by the International Organization for Standardization (ISO).
- Hazard Analysis and Critical Control Points (HACCP): HACCP certification is a food safety management system that identifies and prevents hazards in the food production process. The certification is provided by the International HACCP Alliance.
- Safe Quality Food (SQF): SQF certification is a food safety management system that ensures the safety and quality of food products. The certification is provided by the Safe Quality Food Institute.
- Organic Certification: Organic certification ensures that the products are produced without the use of synthetic fertilizers, pesticides, or genetically modified organisms (GMOs). The certification is provided by the United States Department of Agriculture (USDA).
- Kosher Certification: Kosher certification ensures that the products meet Jewish dietary laws. The certification is provided by various organizations such as the Orthodox Union (OU) and the Kosher Supervision of America (KSA). and
History
A concise historical narrative of NAICS Code 424490-31 covering global milestones and recent developments within the United States.
- The "Groceries & Related Products NEC (Wholesale)" industry has a long history dating back to the early days of human civilization when people started trading food items. The first wholesale markets were established in ancient Rome, where merchants would buy and sell goods in bulk. In the United States, the wholesale grocery industry began to take shape in the late 1800s, with the establishment of large-scale food distribution centers in major cities. The industry continued to grow throughout the 20th century, with the introduction of new technologies such as refrigeration and transportation, which allowed for the distribution of perishable goods over long distances. In recent years, the industry has seen significant consolidation, with large companies acquiring smaller ones to gain market share and increase efficiency.
Future Outlook for Groceries & Related Products NEC (Wholesale)
The anticipated future trajectory of the NAICS 424490-31 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.
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Growth Prediction: Stable
The future outlook for the Groceries & Related Products NEC (Wholesale) industry in the USA is positive. The industry is expected to grow due to the increasing demand for organic and natural food products. The industry is also expected to benefit from the growing trend of online grocery shopping. The COVID-19 pandemic has accelerated the shift towards online grocery shopping, and this trend is expected to continue in the future. The industry is also expected to benefit from the increasing demand for private label products. Private label products are becoming increasingly popular among consumers due to their lower prices and perceived quality. Overall, the Groceries & Related Products NEC (Wholesale) industry is expected to grow in the future due to these factors.
Industry Innovations for NAICS Code 424490-31
Recent groundbreaking advancements and milestones in the Groceries & Related Products NEC (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.
- Amazon's Acquisition Of Whole Foods: In 2017, Amazon acquired Whole Foods, a high-end grocery store chain. This acquisition has allowed Amazon to enter the grocery market and expand its reach in the industry.
- Introduction Of Plant-Based Meat Products: The introduction of plant-based meat products by companies such as Beyond Meat and Impossible Foods has disrupted the meat industry. This trend has also affected the Groceries & Related Products NEC (Wholesale) industry, as these products are sold in grocery stores.
- Increasing Popularity Of Meal Kits: Meal kits have become increasingly popular in recent years. These kits contain pre-portioned ingredients and recipes, making it easy for consumers to cook at home. This trend has affected the Groceries & Related Products NEC (Wholesale) industry, as these kits are sold in grocery stores.
- Growing Demand for Organic and Natural Products: There has been a growing demand for organic and natural food products in recent years. This trend has affected the Groceries & Related Products NEC (Wholesale) industry, as these products are sold in grocery stores.
- Increasing Demand for Private Label Products: Private label products are becoming increasingly popular among consumers. This trend has affected the Groceries & Related Products NEC (Wholesale) industry, as retailers are increasingly offering their own private label products.
NAICS Code 424490-31 - Groceries & Related Products NEC (Wholesale)
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