SJM - Big Pharma's Weight Loss Drugs Vs. Snacking Industry: Who Will Prevail? | Benzinga
The rising prevalence of obesity and diabetes drugs like Novo Nordisk A/S's (NYSE: NVO) Wegovy and Ozempic is triggering concerns among investors about the future of the snacking industry.
Despite this, J.M. Smucker's (NYSE: SJM) CEO, Mark Smucker, remains optimistic about the future of iconic snack brands like Twinkies and Ding Dongs.
Fueled by Millennials and Generation Z, the snacking trend has been a significant profit source for food companies.
With savory snack sales projected to grow 6% annually and sweet snacks at 4.6% from 2022 through 2027, companies like Hershey Co (NYSE: HSY), Mondelez International Inc (NASDAQ: