Continued Decline 57 New Food and Beverage Industry Planned Project Reports - May 2024

TL;DR

Sales Leads Inc. reports a continued decline in new Food and Beverage industry projects for May 2024, with 57 new projects identified. This includes processing facilities, distribution warehouses, and significant equipment upgrades. The largest project is an $800 million investment by Kikkoman Foods in Jefferson, WI.

Synopsis

Sales Leads Inc. announced the May 2024 report for the Food and Beverage industry, revealing a decline with 57 new planned projects. These projects include 35 new processing facilities and 29 new distribution warehouses. The report highlights significant investments such as Kikkoman Foods' $800 million processing, warehouse, and office facility in Jefferson, WI. Other notable projects span various states, with New York and North Carolina leading in new projects.

Industrial SalesLeads announced today the May 2024 results for the new planned capital project spending report for the Food and Beverage industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 57 new projects in the Food and Beverage sector.

The following are selected highlights on new Food and Beverage industry construction news.

Food and Beverage Project Type

            Processing Facilities - 35 New Projects

            Distribution and Industrial Warehouse - 29 New Projects

Food and Beverage Project Scope/Activity

            New Construction - 19 New Projects

            Expansion - 17 New Projects

            Renovations/Equipment Upgrades - 28 New Projects

            Plant Closing - 4 New Projects

Food and Beverage Project Location (Top 10 States)

            New York - 6

            North Carolina - 5

            California - 4

            Ohio - 4

            Georgia - 3

            Wisconsin - 3

            Alabama - 2

            Idaho - 2

            Indiana - 2

            Maine – 2

Largest Planned Project

During the month of May, our research team identified 5 new Food and Beverage facility construction projects with an estimated value of $100 million or more. 

The largest project is owned by Kikkoman Foods, who is planning to invest $800 million for the construction of a processing, warehouse, and office facility in JEFFERSON, WI. The project includes the expansion and equipment upgrades of their existing plant in WALWORTH, WI. They are currently seeking approval for the project.

Top 10 Tracked Food and Beverage Projects

WISCONSIN:

Pet food mfr. is planning to invest $195 million for a 35,000 sf expansion and equipment upgrades on their processing facility in JEFFERSON, WI. They have recently received approval for the project.

OHIO: 

Snack food mfr. is planning to invest $106 million for the renovation and equipment upgrades on a processing facility at 4100 Springboro Pike in MORAINE, OH. They are currently seeking approval for the project. Construction is expected to start in Fall 2024.

INDIANA:

Nutritional supplement mfr. is planning to invest $60 million for the renovation and equipment upgrades on a 200,000 sf processing facility at 301 Salem Rd. in JEFFERSONVILLE, IN. They have recently received approval for the project. They will relocate their operations upon completion in 2025.

NEW YORK:

Beverage company is planning to invest $41 million for the expansion of their manufacturing and warehouse facility in CICERO, NY by 100,000 sf. They are currently seeking approval for the project.

BRITISH COLUMBIA:

Specialty dairy product mfr. is planning to invest $25 million for the expansion of their processing facility in ABBOTSFORD, BC. They have recently received approval for the project. Construction is expected to start in Summer 2024.

LOUISIANA:

Food products distributor is planning for the renovation and equipment upgrades on a recently acquired 252,000 sf distribution and office facility in HAMMOND, LA. Completion is slated for late 2024.

CALIFORNIA: 

Food service distributor is planning for the renovation and equipment upgrades on a 117,000 sf cold storage warehouse and processing facility in VERNON, CA. They are currently seeking approval for the project. Completion is slated for late 2024.

 NEW JERSEY:

Food processing company is planning for the renovation and equipment upgrades on a recently leased 59,000 sf processing and warehouse facility at 74 Kenny Place in SADDLE BROOK, NJ.

NORTH CAROLINA: 

Specialty beverage mfr. is planning for the renovation and equipment upgrades on a recently leased 52,000 sf processing and warehouse facility at 715 Greenfield St. in WILMINGTON, NC. Completion is slated for early Fall 2024.

TENNESSEE:

Meat product mfr. is planning for the expansion of their processing facility in KODAK, TN by 50,000 sf. They are currently seeking approval for the project. Completion is slated for late 2025.

About Industrial SalesLeads, Inc.

Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

• Industrial Manufacturing
• Plastics
• Food and Beverage
• Metals
• Power Generation
• Pulp Paper and Wood
• Oil and Gas
• Mining and Aggregates
• Chemical
• Research and Development
• Distribution and Supply Chain
• Pipelines
• Pharmaceutical
• Misc. Industrial Buildings
• Waste Water Treatment
• Data Centers

Analysis

The May 2024 report indicates a downward trend in the Food and Beverage industry, with fewer new projects compared to previous months. Despite this, significant investments continue, particularly in processing and distribution facilities. The largest project by Kikkoman Foods highlights the ongoing need for modernization and expansion within the sector. The geographic distribution of projects shows a concentration in states like New York, North Carolina, and California, reflecting regional investment patterns.

FAQ

Q: What is the significance of the May 2024 report? A: The report highlights a continued decline in new projects within the Food and Beverage industry, indicating potential challenges or shifts in the sector.

Q: Which project had the highest investment in May 2024? A: The largest investment is by Kikkoman Foods, planning an $800 million processing, warehouse, and office facility in Jefferson, WI.

Q: How does May 2024 compare to previous months in terms of new projects? A: May 2024 saw 57 new projects, continuing a downward trend in the Food and Beverage industry.

Q: What types of projects are included in the report? A: The report includes new constructions, expansions, renovations, equipment upgrades, and plant closings within the Food and Beverage sector.

Q: Which states had the most new projects in May 2024? A: New York led with 6 new projects, followed by North Carolina with 5, and California and Ohio each with 4.

Glossary of Terms

Food and Beverage Industry: Sector focused on the production, processing, and distribution of food and beverages.

Capital Project: A long-term, capital-intensive investment project aimed at building, adding, or improving a facility.

Processing Facility: A plant where raw materials are processed and transformed into finished products.

Distribution Warehouse: A facility used for storing and distributing goods.

Expansion: Enlarging a facility to increase its capacity or capabilities.

Renovation: Improving or modernizing a facility or equipment.

Equipment Upgrades: Enhancements or replacements of machinery or technology to improve efficiency or performance.

Plant Closings: The shutdown of an industrial facility, leading to the cessation of operations at that location.

Outsourced Prospecting Services: Services provided by an external company to identify and qualify potential sales leads for a business.

Industrial Market Intelligence (IMI): Insights and data on companies planning significant capital investments in industrial facilities.