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  • Posted On Wednesday, January 29, 2025 by Evan Lamolinara

    Food 24

    Industrial SalesLeads announced today the CY 2024 results for the new planned capital project spending report for the Food and Beverage industry. The Firm monitors planned industrial capital projects across North America, including facility expansions, new plant construction, and major equipment upgrades. Research confirms 812 new planned projects in the Food and Beverage sector identified in 2024. 

    Planned industrial project activity within the sector decreased by 7% from the previous year. 

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

    Food and Beverage Project Type

                  Processing Facilities - 569 New Projects

                  Distribution and Industrial Warehouse - 314 New Projects

    Food and Beverage Project Scope/Activity

                  New Construction - 278 New Projects

                  Expansion - 227 New Projects

                  Renovations/Equipment Upgrades - 354 New Projects

                  Plant Closing - 74 New Projects

    Food and Beverage Project Location (Top 10 States)

                  California - 66

                  New York - 55

                  Pennsylvania - 38

                  Indiana - 36

                  Ohio - 36

                  Texas - 36

                  Illinois - 34

                  Florida - 31

                  Wisconsin - 30

                  North Carolina - 27

    YOY Growth by State

    Research shows that Colorado state had the highest increase of projects tracked, with 53% more projects identified than in 2023. Conversely, Nebraska state showed the largest decline of projects tracked, with a 63% decline compared to 2023.  

    Most Active Month 

    Research shows that the most active month was August, where 81 new projects opportunities were identified. 

    Largest Month to Month Increase in Projects Tracked 

    Research shows that there was a 31% increase in new projects tracked from October 2024 to November 2024. Conversely, Sep-Oct showed the largest month to month decline; with 73 new projects in September and 51 in October. 

    Opportunities - By Equipment Need

                  Air Emissions Control Equipment - 505  

                  Compressed Air Systems - 705

                  Control Systems and Instrumentation - 523

                  Conveyors - 651

                  Floor Coatings - 433

                  Material Handling/Storage Equipment - 718

                  Mechanical Construction - 637

                  Packaging Equipment - 479

                  Process Equipment - 468

                  Tanks/Vessels - 312

    Largest Planned Project

    During the year 2024, our research team identified 55 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 investing $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.

    Top 12 Largest Food and Beverage Projects

    JANUARY

    Bakery is planning to invest $237 million for the construction of a 339,000 sf processing facility in SALT LAKE CITY, UT. Completion is slated for Summer 2025.

    FEBRUARY

    Pet food mfr. is planning to invest $200 million for the expansion of their processing facility in FORT DODGE, IA.

    MARCH 

    Specialty food and industrial ingredients mfr. is investing $400 million and has recently started the expansion and equipment upgrades on their processing and warehouse facility in DECATUR, IL.

    APRIL

    Dairy products mfr. is planning to invest $708 million for the construction of a 750,000 sf processing and warehouse facility in BOONE, IA.

    MAY

    Bakery company is planning to invest $220 million for the construction of a processing facility in BRIGHAM CITY, UT. Construction is expected to start in Fall 2024, with completion slated for late 2025.

    JUNE

    Beverage company is planning to invest $420 million for the construction of a 1.4 million sf processing and distribution facility at 3935 Intermodal Dr. in WINTER HAVEN, FL.

    JULY

    Meat processing company is investing $670 million for the construction of a 750,000 sf processing complex on Jack Rabitt Rd. in AMARILLO, TX. Completion is slated for late 2026.

    AUGUST

    Food processing company is planning to invest $750 million for the construction of a 700,000 sf processing and warehouse facility in SIOUX FALLS, SD.

    SEPTEMBER

    Meat processing company is investing $800 million for the construction of a processing facility in WRIGHT CITY, MO. Completion is slated for early 2025.

    OCTOBER

    Food and industrial ingredients mfr. is planning to invest $400 million for the construction of a processing facility in LAFAYETTE, IN.

    NOVEMBER

    Specialty beverage mfr. is planning to invest $400 million for the construction of a 600,000 sf distribution and processing facility in WACO, TX. Completion is slated for early 2026.

    DECEMBER

    Cheese mfr. is planning to invest $211 million for the construction of a 168,000 sf processing facility in CARTHAGE, MO. Construction is expected to start in early 2025, with completion slated for 2027.

     

    About Industrial SalesLeads, Inc.

    Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and Outsourced Lead Generation services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, 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 Lead Generation 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:

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