Americans
relying on government benefits to buy food and other essentials are
slashing spending, prompting food makers like Kraft-Heinz and Conagra Brandsto overhaul their products and strategies following years of price hikes.
Many of the biggest makers of packaged foods and drinks are seeing their sales volumes fall, due partly to low-income consumers -- typically making roughly less than $35,000 per year -- cooking from scratch, using up leftovers or just buying less
Roughly one-third of Black American households and 21% of white American households fell into this category in 2022, according to the latest available U.S. census data.
