European Consumer Packaged Food: Price Hike Matters

Facing an exceptionally difficult operating environment due to disrupted supply chains and surging costs, the European Consumer Packaged Food companies under our coverage had, on average, increased prices by at least 8.0% in 2022. What appears to be an inflation-driven price increase has been the primary driver of organic growth through 2021-2022, and it seems that pricing will continue to drive growth in 2023, where consensus expectation of price growth is still relatively high at an average of 6.7%.