FOOD PRODUCTS : Ultra-Processed Foods: Quantifying the Exposure

Research evidence excerpt

FOOD PRODUCTS : Ultra-Processed Foods: Quantifying the Exposure

EQUITIES

FOOD & HPC

FOOD PRODUCTS

Ultra-Processed Foods: Quantifying the Exposure

There is growing scrutiny of ultra-processed foods. We’ve completed a barcode-level mapping to10 JUNE 2026

Sector Research Report quantify the exposure across our group. Our analysis suggests the group is highly exposed to UPFs

Production time: 11:30* (London time)

with Smucker, McCormick, Hormel, and Smithfield offering the most insulation.

Research Analysts & Publishing Entities

Max Gumport Ultra-processed foods are linked with adverse health outcomes

BNP Paribas Securities Corp1 There is a growing body of scientific evidence linking ultra-processed foods (UPFs) to adverse health

(+1) 917 583 4529

max.gumport@us.bnpparibas.com outcomes. Over the past several years, the scientific literature surrounding UPFs has expanded

significantly. Increasingly, research has linked higher UPF consumption to a broad range of adverse

Alex Hilsenrath

health outcomes including cardiovascular disease, type 2 diabetes, mental health disorders, Crohn’sBNP Paribas Securities Corp1

(+1) 646 342 5084 disease, and certain cancers.

alex.hilsenrath@us.bnpparibas.com

Consumer awareness is risingJohn McDonald

BNP Paribas Securities Corp1 Consumer awareness of UPFs is rising rapidly. In the 2025 International Food Information Council

(+1) 646 342 5683 Food & Health Survey, 44% of consumers reported familiarity with the term, up meaningfully from

john.mcdonald@us.bnpparibas.com

32% in 2024. And survey data suggests consumers are increasingly avoiding UPFs.

Political scrutiny is increasing

UPFs have entered the crosshairs of policymakers. In May 2025, the White House’s Make America