The snacks sector continues to make a massive impact on the US economy, employing 395,000 workers in direct and allied sectors, generating $15 billion in wages and contributing $11 billion in tax revenue.
The Michigan-based cereal giant reported a fourth quarter loss of $84m – compared with a profit of $417m a year earlier – due to the looming Brexit and a ‘softness’ in its key US snacks and morning foods categories.
Industry giants Nestlé and Unilever report steady sales growth driven by emerging markets for first quarter of 2017 and predict continued growth throughout the year.
Bernstein Research gives sales forecasts for the top 10 food and beverage companies worldwide up to 2014 with some predicted to gain shares and others to lose out.
