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By Marion Nestle

May 26 2026

Is Big Food in trouble? Five existential threats.

It’s impossible not to notice all the reports of declining food sales. I’ve been talking about four existential threats to the food industry:

Robert F. Kennedy Jr (“The food industry is poisoning America”)
Ultra-processed foods (dietary guidelines advise eating less of them)
GLP-1 drugs (they reduce food intake)
Inflation (people can’t afford to overeat)

To these, I must add now one more.

SNAP restrictions (they decrease purchases of sodas and sweets)

The crisis

Is Big Food breaking? Why the industry is selling itself off: Investors are losing patience as volume growth stalls and food giants tear up the playbook.
Big Food splits: Smart move or strategic misstep? Big Food’s biggest names are betting on splits, but market reactions show investors aren’t convinced. So when does breaking up actually make sense?… Read more
Big Food’s leadership crisis: Why CEOs are falling faster than ever: C-suite exits are mounting across Big Food, but behind the scandals lies a deeper performance and innovation problem… Read more
Big Food splits: Smart move or strategic misstep? Big Food’s biggest names are betting on splits, but market reactions show investors aren’t convinced. So when does breaking up actually make sense?… Read more
CEO churn exposes growing cracks in Big Food’s growth model: Leadership changes across Big Food are starting to look less like succession and more like a response to cracks in the growth model…. Watch now
An existential shift is coming: Dimbleby on the forces set to reshape food: The industry is already seeing a myriad of different pressures, including increased labour and input costs, but Henry Dimbleby has warned things may get much worse before they get better…. Read more
SNAP restrictions are reshaping sugary food purchases: Ibotta data shows states prohibiting the use of SNAP funds to buy ‘unhealthy’ products are reshaping sugary beverage and snack demand… Read more

Effects on Big Food companies

Why Unilever’s $40bn food merger is raising red flags: Unilever’s $40bn food deal is supposed to sharpen focus. Instead it’s unsettled stakeholders, raising questions over the success of Big Food consolidation… Read more
Unilever shares plummet following McCormick megamerger announcement: Unilever’s $44.8bn decision to merge its Foods business with McCormick has rattled investors and raised regulatory questions… Read more
Nestlé sells Blue Bottle Coffee to Centurium Capital: The deal includes the brand’s cafes and the majority of its CPG business, a spokesperson confirmed.
Nestlé slashes 450 jobs sparking union backlash: Nestlé’s set to cut more than 450 UK jobs as global restructuring begins… Read more

The bottom line: Eating less is bad for business.

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