Despite current economic disruptions, e-commerce continues to be a game-changer and has greatly influenced the rapid changes in the Food and Beverage industry.
September 16, 2020
With existing providers and new startups allowing customers to shop online and select pick up and delivery options, today’s society mandates new on-demand services. In 2019, online grocery sales grew an estimated 22 percent and are expected to surge to 40 percent in 2020. The growth in online grocery purchasing due to the COVID-19 pandemic is expected to continue, increasing focus on the Food and Beverage sector.
Our latest report on cold storage defines the current environment, identifies where there are challenges and examines what the future might look like as consumer's preferences change.
>> Quick insights:
Cold storage is becoming a priority, where population is dense the demand for online grocery is high and remaining constant
Increased penetration by Third-Party Logistic (3PL) companies in the last-mile cold storage arena to better accommodate the consumer
Cold storage inventory is outdated, giving investors the opportunity to build modern facilities, that are in high demand (see map below to view construction costs by region)
Click to view construction costs of a new cold storage cooler/freezer building by region