866 New Food and Beverage Industry Planned Project Reports - CY 2023 Recap

SalesLeads announced today the CY 2023 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 866 new projects in the Food and Beverage sector identified in 2023.

Planned industrial project activity within the sector decreased by 5% from the previous year.

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

Food and Beverage Project Type

          Processing Facilities - 575 New Projects

          Distribution and Industrial Warehouse - 331 New Projects

Food and Beverage Project Scope/Activity

          New Construction - 340 New Projects

          Expansion - 246 New Projects

          Renovations/Equipment Upgrades - 324 New Projects

          Plant Closing - 42 New Projects

Food and Beverage Project Location (Top 10 States)

          California - 77

          New York - 61

          Florida - 39

          Texas - 38

          Indiana - 37

          Ohio - 34

          Wisconsin - 33

          Pennsylvania - 32

          Michigan - 29

          Illinois - 28

YOY Growth by State

Research shows that Idaho state had the highest increase of projects tracked, with 89% more projects identified than in 2022. Conversely, North Dakota state showed the largest decline of projects tracked, with a 250% decline compared to 2022. 

Most Active Month

Research shows that the most active month was January, where 91 new projects opportunities were identified.

Largest Month to Month Increase in Projects Tracked

Research shows that there was a 9% increase in new projects tracked from March 2023 to April 2023. Conversely, Jan-Feb showed the largest month to month decline; with 91 new projects in January and 62 in February.

Opportunities - By Equipment Need

          Air Emissions Control Equipment - 543 

          Compressed Air Systems - 792

          Control Systems and Instrumentation - 565

          Conveyors - 712

          Floor Coatings - 515

          Material Handling/Storage Equipment - 792

          Mechanical Construction - 725

          Packaging Equipment - 507

          Process Equipment - 487

          Tanks/Vessels - 327

Largest Planned Project

During the year 2023, our research team identified 51 new Food and Beverage facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Plant Agricultural Systems, who is planning to invest $750 million for the construction of an 8 million sf growing and processing hydroponics farm in SANDERSON, FL. They have recently received approval for the project. Construction is expected to start in early 2024.

Top 12 Largest Food and Beverage Projects

JANUARY

Food products mfr. is planning to invest $205 million for the construction of a 525,000 sf processing facility in CLEVELAND, TN. Completion is slated for 2025.

FEBRUARY

Food service distributor is investing $260 million and has recently started the construction of a 1-million sf distribution and cold storage complex in FRANKLIN, KY.

MARCH

Specialty frozen food mfr. is planning to invest $600 million for the expansion and equipment upgrades on their processing facility in COALDALE, AB.

APRIL:

Beverage company is planning to invest $500 million for the construction of a processing facility in DENVER, CO. Construction is expected to start in 2025. They will consolidate regional operations upon completion in 2028.

MAY:

Beverage company is planning to invest $650 million for the construction of a 745,000 sf processing facility on Tebor Rd. in WEBSTER, NY. Construction is expected to start in Fall 2023, with completion slated for late 2025.

JUNE:

Global retail chain is planning to invest $350 million for the renovation and equipment upgrades on their distribution center at 2200 7th Ave SW. in CULLMAN, AL.

JULY:

Hydroponic agricultural service provider is planning to invest $670 million for the construction of multiple processing facilities totaling 13 million sf on a 700-acre site in LUBBOCK, TX.

AUGUST:

Beverage contract processing and packaging company is planning to invest $452 million for the construction of 2 processing and distribution facilities in FORT WORTH, TX. They are currently seeking approval for the project.

SEPTEMBER:

Beverage company is planning to invest $500 million for the construction of a 620,000 sf processing and distribution campus at 10670 6th St. in RANCHO CUCAMONGA, CA. Construction is expected to start in 2024. They will relocate their operations from FONTANA, CA upon completion in Summer 2026.

OCTOBER:

Agricultural processing company is planning to invest $500 million for the construction of a soybean processing plant in UPPER SANDUSKY, OH. Construction is expected to start in early 2024.

NOVEMBER:

Specialty food product mfr. is planning to invest $228 million for the renovation and equipment upgrades on a recently acquired 641,000 sf processing and warehouse facility at 1170 Bracken Rd. in PIEDMONT, SC. Completion is slated for late 2025.

DECEMBER:

Agricultural co-operative is planning to invest $700 million for the construction of a process, storage, and warehouse complex in EVANSVILLE, WI. They are currently seeking approval for the project. Construction is expected to start in Spring 2024, with completion slated for 2026.