June 17, 2016
Cushman & Wakefield released the first of its five-part series, “Food Manufacturing Update: Good Eats & More Treats”, that examines the changing American table and its effects on commercial real estate and related industries.
Here are some of the major findings, so far:
– Employment (2015): more than 1.5 million jobs in food manufacturing
– Project Announcements (2011-2015): 1,691 total. Breakdown – 1,033 expansions and 648 new projects
– Plant Efficiency: increased incorporation of technology for distribution and packaging
– Cold Storage (past five years): 2% increase in public refrigeration space, 5.3% increase in private space [new OSHA mandates are driving refrigerator compliance and reduced energy consumption]
– Millennial impact on consumption: cohort is driving fresh, less-processed food. Increased by 20% over the past decade