Industrial Info’s Webinar Offers In-Depth Outlook for North American Food & Beverage Industry
Industrial Info is tracking almost $15 billion in Food & Beverage Industry projects that are under construction in North America, and about $19 billion that are under construction elsewhere. In a complimentary webinar sponsored by global manufacturer CIRCOR Energy (Houston, Texas), Randy Godet, Industrial Info's VP for global research in the Food & Beverage Industry, offered a “deep dive” analysis of the 24-month pipeline of capital project spending.
Click here to hear the webinar, view a Power Point presentation, or learn more about Industrial Info’s Food & Beverage Industry coverage.
Godet and Shaheen Chohan, Industrial Info's vice president for global analytics, emphasized the North American market, where most of the Food & Beverage Industry projects tracked by Industrial Info are either moving forward or considered likely to move forward.
“The project pipeline is strong. It’s primed,” Godet said. “There’s a high volume of project plans moving through the pipeline over the next 24 months--nearly $27 billion in planned expenditures. There’s another $3 billion beyond the 24-month period. We’re already past the halfway mark for 2016, and we’re already seeing numbers for 2017 and beyond that are beginning to increase already.”
Godet said that the “epicenter” of Food & Beverage spending in North America is the Midwest and Great Lakes regions, which feature a larger-than-average number of related facilities. But other regions are expanding their footprints in the industry, such as the Southwest.
Other subjects covered in the webinar include:
- The U.S. food industry’s dramatic export growth, which has turned the U.S. into a supplier to the growing middle class in emerging nations
- How the recent expansion of the Panama Canal significantly improves U.S. access to global markets
- What’s driving more than $8.2 billion worth of in-plant capital projects
- The wide variety of expansions at operational plants, which total almost $6 billion
- How persistently low commodity prices have benefited some segments of the food industry and hurt others
- How increased efficiencies are boosting Mexico’s agricultural industry, particularly for food products exported to the U.S. and Canada
- Increased investments in South and Central America, Oceania and Southeast Asia, and how Industrial Info’s expanding coverage is keeping tabs
“In the past, consumption was driven by production,” Godet said in the Webinar. “We pretty much ate what was produced. Today, it’s the reverse: production is driven by consumption. Consumers are telling manufacturers what we want to eat, how we’re going to eat it, and where that food comes from: We want healthier choices, we’re concerned about animal health care. That’s changing the whole dynamic and impacting investments from the ‘farm to table’ model.”
Godet recently reviewed the outlook for the beverage industry in the U.S. and Canada, offering insights on capital-expenditure trends and more than $2.7 billion worth of projects:
CIRCOR Energy is a global manufacturer of highly engineered valve and pipeline products, including control, ball, and on/off valves and regulators. Visit CIRCOR at http://www.circorenergy.com.