Industry Focus: Food and Beverage

5-15-20

There is no doubt that 2020 will be studied for years in terms of the food and beverage supply, especially for the shortages caused by stockpiling during the coronavirus epidemic. Then there was the movement of goods coast to coast and the grocery stores themselves. Funny thing, though, the food and beverage supply chain was already undergoing significant transformation before the pandemic hit the U.S.

Consider:

• Food and beverage companies’ market share of warehouse space increased by 4.1 million square feet in 2019, with their number of transactions up by 44%, according to a report released in January by commercial real estate firm CBRE. The growth was attributed to companies improving their grocery supply chain for supermarkets and e-commerce fulfillment.
• Gen Z overtook Millennials as the largest consumer group globally and they had distinctly different preferences in food and drink. Hello, plantbased milks, imitation meats and everything clean in between.

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