KANSAS CITY — Several food and beverage companies see the elevated levels of consumer demand at retail that have buoyed consumer packaged goods sales volumes in 2020 and 2021 carrying into next year. But recent macroeconomic data indicate retail demand may be slowing as increased mobility, supply chain challenges, inflation and subsequent higher prices impact consumer purchasing patterns.

Among companies hopeful about the outlook, The Hershey Co. is adding capacity to meet demand for some of its brands, particularly Reese’s, which saw retail sales rise 10% during the third quarter of fiscal 2021. The strong performance followed a pandemic-fueled 25% sales surge during the same period of the previous year. The added capacity will be operational in 2022 and 2023, according to the company.

Likewise, Conagra Brands, Inc. executives are viewing 2022 with optimism. Sean Connolly, Conagra’s president and chief executive officer, said…

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