PepsiCo CEO says GLP-1 weight-loss drugs present “More Opportunities Than Threats” for snacks giant 

UK – PepsiCo Chief Executive Officer Ramon Laguarta has said the global snacks and beverages giant sees “more opportunities than threats” from the growing use of GLP-1 weight-loss drugs, as food companies assess how shifting consumer habits could affect demand. 

Food manufacturers and retailers are closely watching the rapid uptake of GLP-1 medications, which are linked to reduced appetite and changing dietary preferences. Available data suggests consumers using the drugs are snacking less while showing greater interest in products with added protein, fibre and functional benefits. 

Speaking to analysts after Doritos and Walkers owner PepsiCo released its 2025 financial results, Laguarta was asked to address investor concerns about the potential impact of GLP-1 drugs on food consumption. 

Laguarta said PepsiCo is operating on the assumption that there will be “a broader adoption of GLP-1 medicines” as new formats enter the market and prices become more affordable. He stressed, however, that the company has been preparing for this shift for some time. 

“We’ve been working on this for some time, and we’re very optimistic on how PepsiCo can play in that new reality with the consumer,” Laguarta said. “I think there are more opportunities than threats but there are both. The way we’re reacting is multiple.” 

He noted that households with a member using GLP-1 drugs continue to buy PepsiCo products, albeit in different ways. “Families with a member on GLP-1 are engaging in our category but they do it in smaller portions,” Laguarta said. 

He added that PepsiCo’s portfolio is already aligned with this trend. “If you think about our portfolio in the US, 70%-plus of our food business is already in single-serve,” he said, highlighting portion-controlled offerings. 

Laguarta also pointed to what he described as “big opportunities” in categories that align with GLP-1 user preferences, including hydration, fibre and protein. He cited brands such as Propel water, Quaker cereals and SunChips snacks as key platforms for growth. 

“Propel is growing 20%-plus, powders, tablets, more functionality along with hydration, big idea,” Laguarta said. “Fibre, we know those consumers are looking for fibre. They have some digestive problems. We are innovating around fibre, whole grains. That’s a big space.” 

He said PepsiCo is relaunching Quaker with a renewed emphasis on fibre, alongside innovation in SunChips and other food products. “Protein, obviously, that’s an area where we’ve been innovating for some time and we’ll continue to do it,” he added. 

Laguarta concluded that PepsiCo is moving quickly to adapt. “Multiple vectors of transformation that we’ll be sequencing with a sense of urgency,” he said. “This could turn into an opportunity for us, not only in the US but in multiple markets.” 

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