McCormick CEO Discusses Consumer Trends and Market Headwinds
1 report, 1 independent
Updated Sep 22
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What happened
Brendan Foley, CEO and President of McCormick, commented on market trends during the Barclays 19th Annual Global Consumer Conference. Foley stated that the consumer backdrop in the United States is increasingly challenging due to financial strain among consumers. He noted that this pressure is leading to volume declines across much of the broader US food industry.
From foodnavigator.com
Why it matters
Foley explained that while the market pressure is a headwind for many food companies, it is simultaneously creating an opportunity for McCormick. This tailwind is driven by consumers making deliberate choices to stretch their budgets by utilizing spices, condiments, and other low-cost flavor solutions.
From foodnavigator.com