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Released January 10, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Food & Beverage Industry is gearing up a strong for 2022, and Industrial Info is tracking $32 billion in medium- and high-probability projects (70%-99% of moving forward as planned) that are set to kick off this year. While some of these projects will fall out--that is, be canceled, placed on hold or deferred to a later date--2022 is shaping up to be a strong year for the industry.
The COVID-19 pandemic changed the way Americans ate and drank, and food and drink consumption shifted from going out to bars and restaurants to dining at home. While this situation has reversed itself somewhat as the world adjusts to a "new normal," the packaged and prepared segment emerges as the leader in planned 2022 U.S. Food & Beverage project starts for this year. This is followed by agricultural products, and meat and poultry.
Click on the image at right for a breakdown by sector of planned 2022 U.S. Food & Beverage project starts in the U.S. and Canada.
According to Randy Godet, Industrial Info's vice president of research for the Food & Beverage Industry, nothing is shaking up the industry quite as much as alternative foods, primarily plant-based products replacing traditional meat and dairy. Examples of such projects abound in the U.S. for the coming year. Examples include two oat milk plant expansions in New Jersey and Utah under the auspices of Oatley Incorporated (New York, New York). In Millville, New Jersey, Oatley is adding 53,000 square feet of new building space and a new processing line. In Ogden, Utah, Oatley is adding building space and equipment to boost production from 150 million liters per year to 225 million liters per year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Food & Beverage Project Database can click here for the New Jersey project and here for the Utah project.
Examples of how the plant-based meat sector is taking off include Planterra Foods' (Lafayette, Colorado) conversion of a former traditional meat processing plant into a plant-based meat plant in West Chester, Ohio (see project report), and Nature Fynd's (Chicago, Illinois) planned production expansion of its plant-based protein manufacturing plant in Chicago (see project report).
Despite the alternative proteins trend, traditional meat consumption in the U.S. has been on the rise. According to a study done by the University of Illinois' Department of Agriculture and Consumer Economics, U.S. per capita meat consumption rose every year between 2015 and 2019, reaching 264 pounds per person in 2020. Industrial Info is tracking more than $5 billion in traditional meat and poultry sector project starts planned for next year, including National Beef Packing Company's (Dodge City, Kansas) plans to add square footage and a new production line to more than double slaughtering capacity at its plant in Tama, Iowa (see project report), and Tyson Foods Incorporated's (NYSE:TSN) (Springdale, Arkansas) grassroot prepared meats production facility in Bowling Green, Kentucky (see project report).
More than one-third of the value of the planned agricultural products project starts in the U.S. involve soybean crushing and processing. Among the largest of these projects is CGB Enterprises Incorporated's (Covington, Louisiana) planned grassroot crushing facility in Casselton, North Dakota. Subscribers can click here for the detailed project report. The soybean market seems poised for growth in coming years. In the same way that the ethanol boom increased corn production, the trend toward renewable diesel projects in the U.S. is increasing demand for soybean oil. According to a December article from Progressive Farmer, "Analysts are having a hard time modeling out the soybean oil needs in the near term and long term as more renewable diesel projects are announced. For now, forecasts call for higher soybean prices, expanded acreage, and not enough soybean oil to go around."
The segment with the largest number and value of planned project starts, the packaged and prepared foods sector, represents a vast array of project types, including frozen sandwiches, potato chips, pet foods, and even insect-based feed for fish and chickens. The Midwest market region leads the U.S. in these projects, with nearly $1.5 billion worth. Subscribers can click here for related project reports.
Randy Godet will be available to answer your questions and discuss the latest trends in the Food & Beverage and Pulp & Paper industries at IIR's 2022 U.S. & Canada Market Outlook in Sugar Land on January 19. Click here to learn more and RSVP.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
The COVID-19 pandemic changed the way Americans ate and drank, and food and drink consumption shifted from going out to bars and restaurants to dining at home. While this situation has reversed itself somewhat as the world adjusts to a "new normal," the packaged and prepared segment emerges as the leader in planned 2022 U.S. Food & Beverage project starts for this year. This is followed by agricultural products, and meat and poultry.
Click on the image at right for a breakdown by sector of planned 2022 U.S. Food & Beverage project starts in the U.S. and Canada. According to Randy Godet, Industrial Info's vice president of research for the Food & Beverage Industry, nothing is shaking up the industry quite as much as alternative foods, primarily plant-based products replacing traditional meat and dairy. Examples of such projects abound in the U.S. for the coming year. Examples include two oat milk plant expansions in New Jersey and Utah under the auspices of Oatley Incorporated (New York, New York). In Millville, New Jersey, Oatley is adding 53,000 square feet of new building space and a new processing line. In Ogden, Utah, Oatley is adding building space and equipment to boost production from 150 million liters per year to 225 million liters per year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Food & Beverage Project Database can click here for the New Jersey project and here for the Utah project.
Examples of how the plant-based meat sector is taking off include Planterra Foods' (Lafayette, Colorado) conversion of a former traditional meat processing plant into a plant-based meat plant in West Chester, Ohio (see project report), and Nature Fynd's (Chicago, Illinois) planned production expansion of its plant-based protein manufacturing plant in Chicago (see project report).
Despite the alternative proteins trend, traditional meat consumption in the U.S. has been on the rise. According to a study done by the University of Illinois' Department of Agriculture and Consumer Economics, U.S. per capita meat consumption rose every year between 2015 and 2019, reaching 264 pounds per person in 2020. Industrial Info is tracking more than $5 billion in traditional meat and poultry sector project starts planned for next year, including National Beef Packing Company's (Dodge City, Kansas) plans to add square footage and a new production line to more than double slaughtering capacity at its plant in Tama, Iowa (see project report), and Tyson Foods Incorporated's (NYSE:TSN) (Springdale, Arkansas) grassroot prepared meats production facility in Bowling Green, Kentucky (see project report).
More than one-third of the value of the planned agricultural products project starts in the U.S. involve soybean crushing and processing. Among the largest of these projects is CGB Enterprises Incorporated's (Covington, Louisiana) planned grassroot crushing facility in Casselton, North Dakota. Subscribers can click here for the detailed project report. The soybean market seems poised for growth in coming years. In the same way that the ethanol boom increased corn production, the trend toward renewable diesel projects in the U.S. is increasing demand for soybean oil. According to a December article from Progressive Farmer, "Analysts are having a hard time modeling out the soybean oil needs in the near term and long term as more renewable diesel projects are announced. For now, forecasts call for higher soybean prices, expanded acreage, and not enough soybean oil to go around."
The segment with the largest number and value of planned project starts, the packaged and prepared foods sector, represents a vast array of project types, including frozen sandwiches, potato chips, pet foods, and even insect-based feed for fish and chickens. The Midwest market region leads the U.S. in these projects, with nearly $1.5 billion worth. Subscribers can click here for related project reports.
Randy Godet will be available to answer your questions and discuss the latest trends in the Food & Beverage and Pulp & Paper industries at IIR's 2022 U.S. & Canada Market Outlook in Sugar Land on January 19. Click here to learn more and RSVP.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
