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The global food and beverages industry has been seeing solid demand lately as the easing of COVID-19 restrictions following substantial progress with mass vaccination programs facilitates people’s return to outdoor dining. Also, a recent increase in the child tax credit payments, which is characterized as an “underappreciated stimulus” by the Cowen analysts, is expected to spur consumer spending on staples and dining out. Consequently, the industry should benefit from an overall spending spree in 2021.
Given this backdrop, we believe industry leaders PepsiCo, Inc. (PEP) and Mondelez International, Inc. (MDLZ) should be attractive investment bets now.
