Friday, June 16, 2017

Millennials like small food companies, but big brands aren't dead — yet

472848510Small food companies are gaining space in millennials' shopping carts, but hope for big companies is not completely lost, a research note from Goldman Sachs and Conde Nast says.

Sales for the leading packaged food companies that Goldman tracks have been disappointing, with the first quarter of 2017 seeing, in aggregate, an sales decline of 1.6 percent — which is an all-time low for growth.

Big brands still dominate, driving 80 percent of industry sales, according to the report. But smaller brands have gained momentum, gaining share in 62 percent of the top 50 packaged food categories.
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