Food is an important part and parcel for every living soul. Some of the largest food companies including Campbell Soup Co., Conagra Brands and General Mills reported huge profits during 2020. All the companies are expecting more turn around during the ongoing fiscal year in the backdrop of changing consumer behavior. According to General Mills’ sources, the baking and meals revenue in the US rose by 75% whereas cereal sales increased by 26%. The CEO of General Mills is of the view that eating habits of the consumer cannot revert to the pre-pandemic position. In view of the changing consumer behavior, the food companies are also changing their strategies to adopt the new market trends and variations. Deloitte said in its Consumer Products Industry 2021 outlook report that “food companies’ hold on ecommerce channels is still thin. They will have to increase their digital investments to catch the growing market.” On the other hand, it has been witnessed that food consumers are preferring to eat fresh food items. Therefore, the food companies will have to come-up with innovative ideas to enhance their storage capacities to capture this segment of consumers. Keep reading this article as it provides insight about Best 10 Food Stocks for 2021 as shared by Insider Monkey.
Kraft Heinz is one of the biggest North American food and beverage companies. As per available data, the turnover of this company has been $25 billion during the year 2019. According to Nielsen’s report, the company’s sales posted beyond expectations during the month of December. The sales were reported to be 10% higher. During the third quarter, the company’s revenue stood at 6.3% which was higher to the forecast by Street. Berkshire Hathaway, owned by Warren Buffet, has 325.63 million shares in the company. The worth of these shares is $9.75 million during the third quarter. Mondelez International is another popular company. The company is headquartered in Illinois. This company owns the popular brands including Cadbury chocolate and Oreo cookies. Mondelez International has operations in 160 countries around the globe. The reported annual revenue of the company is $26 billion. Earlier this month, predicted stock price of Mondelez International at $66. So, readers, these are some of the popular food stocks which are good options to buy during 2021. Besides these companies, there are several more. You can read about more companies at 10 Best Food Stocks To Buy Now.
