Despite Ozempic and RFK Jr., Uncrustables and Twinkies believe ‘very strongly that snacking continues’
CNN
The growth of weight loss drugs and Robert F. Kennedy Jr.’s push to improve Americans’ diets won’t stop people from snacking on Twinkies and Uncrustables, predicts their owner J.M. Smucker.
The makers of weight loss drugs and Robert F. Kennedy Jr. are both pushing for Americans to change their diets. But the owner of Twinkies and Uncrustables is predicting that nothing will be able to stop America’s insatiable hunger for snacks. “As it relates to anything in the political domain, we believe very strongly that snacking continues,” J.M. Smucker CEO Mark Smucker said on an earnings call with analysts Tuesday. “Consumers are going to continue to look for a way to reward themselves at different times throughout the day.” The food giant’s answer came in response to an analyst question about whether Kennedy’s “Make America Healthy Again” agenda could hurt the company. Kennedy, who President-elect Donald Trump has picked as his nominee for secretary of the Health and Human Services Department, has advocated for banning artificial food coloring and pesticides. He has also proposed limiting access to soda and processed foods through school lunches and the Supplemental Nutrition Assistance Program. Kennedy has said there are “chemical poisons” in chips, gummy bears and other popular snacks and wants to ban them. Kennedy “takes a much more hostile view of food companies than previous administrations,” Alexia Howard, an analyst at Bernstein, said in a report to clients last week. “Potential policy changes could impact the (food) sector.” Pepsi, General Mills, Kellogg, Kraft Heinz and other food giants’ stocks fell sharply earlier this month when Trump announced Kennedy’s nomination. Kennedy still has to be confirmed by the US Senate, and it’s not clear what his specific plans are, nor whether cracking down on food companies will be a priority for a Trump administration that has promised sweeping deregulation of industries. Food companies aren’t betting on Kennedy and the Trump administration to influence their businesses and Americans’ eating habits.
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