Nestle CEO discusses impact of weight loss drugs on food industry [Video]

The meteoric rise of weight loss drugs means consumers’ nutritional needs are “shifting” which provides new opportunities for food companies, Nestle CEO Mark Schneider told CNBC.

Investors were initially concerned about the popularity of GLP-1 drugs such as Wegovy and Ozempic as it was assumed that people on the drugs would consume less food, Schneider told CNBC’s Silvia Amaro.

But that perspective has since changed, he said. “I think what since has emerged is that nutritional needs don’t go away. They’re just shifting. So, you know before, during, after GLP-1 therapy — consumers still have nutritional needs, but they may be different from someone who is not on a weight loss regimen.”

According to Schneider, consumers who are on weight loss medication simply have different nutritional needs. Users of the GLP-1 drugs need to focus more on protein intake to …