2 Unstoppable Food Stocks to Gobble Up By StockNews

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© Reuters. 2 Unstoppable Food Stocks to Gobble Up

The food industry is gaining traction amid easing pandemic distancing restrictions with solid progress on the vaccination front. As people return to outdoor dining, we think popular food stocks PepsiCo (NASDAQ:) and Mondelez International (NASDAQ:) should deliver significant gains in the near term. Let’s discuss.The global online food delivery market’s revenues jumped 27% year-over-year to $136.4 billion in 2020 as food joints saw a significant surge in orders compared to the pre-pandemic period.

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.

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