A new research showed that millennials prefer smaller food companies over big brands. The research note from Goldman Sachs and Conde Nast shows that the leading packaged food companies have been struggling when it comes to appealing to the Millennials.
Though there is a preference for smaller companies, the industry is still ruled by the big brands which drive around 80 per cent of the industry sales. It also suggested that millennials will have a huge role to play in the industry’s future.
“Assuming this relationship holds. The math suggests that millennial consumers should drive the entirety of the industry’s growth over the next decade.” It was noted.