The Packaged Food & Beverage sector comprises essential products that consumers rely on for everyday necessities, regardless of financial situation. The sector is considered to be non-cyclical and as having low volatility because of this reason. While demand for the sector’s products as a whole is inelastic, the industries within the various sub-sectors are highly competitive. Companies compete for the consumer’s dollar either by being the low cost leader or through product differentiation that commands a premium price. For this reason, brand equity is of high importance and many companies invest heavily in marketing and branding. Our coverage universe has a focus on Food and Beverage, with a particular expertise on the small and mid-cap companies within those sub-sectors.