Nestle, Tyson and other food giants bet on air fryer boom to grow sales
Publishing timestamp: 2023-03-05 09:00:01
Summary
Food companies such as Nestle, Kellogg, Tyson Foods, and Gorton's Seafood are taking advantage of the air fryer boom to appeal to consumers. Nearly 60% of U.S. households own an air fryer, and sales of the cooking appliance have been soaring since 2017. Big food companies are betting on consumers' love of all things cooked in air fryers, and are launching products with patent-pending technology. As inflation cools and retailers put pressure on suppliers to stop raising prices, food companies are looking for growth elsewhere. Air fryer directions are boosting Tyson's brand favorability, and Gorton's Seafood is responding to customers' air fryer demand by updating its packaging. Nestle has even gone as far as to partner with Insta Brands to give away air fryers.
Sentiment: POSITIVE
Tickers: HRL, TSN, NSRGF, KHC, NES.N-CH, CPB, K,
Keywords: restaurants, hormel foods corp, food and drink, kellogg co, retail industry, tyson foods inc, campbell soup co, united states, business, nestle sa, kraft heinz co, business news, breaking news: business,
Source: https://www.cnbc.com/2023/03/05/nestle-tyson-air-fryer-boom.html