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Food companies may be underestimating sales benefits from the coronavirus, analysts say

The coronavirus pandemic has led to an uptick in purchases as consumers stockpile food and spend more time at home, or are simply reluctant to venture out as often to the grocery store.

Nearly every food company has touted the benefits. Nestlé has seen a spike in demand for its coffee, frozen meals and home baking products. Unilever has been selling more of its teas, ice cream and condiments. And Campbell Soup and Kraft Heinz have worked hard to meet demand for once-out-of-favor products like soup and boxed macaroni and cheese. Shoppers have gravitated toward iconic brands they grew up with and which give them a feeling of nostalgia and comfort, an underlying benefit for many big CPG brands.

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