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McCormick & Company

McCormick & Company Inc. (MKC) (Q4FY23) – New products to positively impact volume & margin

In the U.S., Cholula salsas in the Mexican aisle and branded food service items like Frank’s Mild Wings Sauce and Frank’s Nashville Hot were successful in attracting new consumers. In the U.K. and Australia, Cholula hot sauce contributed to the growth of the category.
PEP launched a new product called bubly burst, following the success of its bubly sparkling water in 2018. It’s like the previous bubly drink but with more intense fruity flavors and no added sugar.
The company remains confident in China’s long- term market potential despite facing increased competition in the mass market segment. It anticipate significant changes in the market landscape over time, with increased competition eventually leading to a more diverse and mature market.
KO is strategically expanding its beverage portfolio across different markets, particularly focusing on North America and Europe to cater to a wider range of consumers while also appealing to different pricing preferences.