Recent data from Campbell’s indicates a noticeable increase in home cooking among consumers—the highest rate seen in almost five years. This shift reflects growing economic anxiety and a focus on cost-cutting measures.
CEO Mick Beekhuizen noted on Monday that “Consumers are cooking at home at the highest levels since early 2020,” observing that the trend spans all income levels within the meals and beverages market.
Beekhuizen likened the current situation to the onset of the COVID-19 pandemic, a time characterized by significant economic uncertainty as the virus disrupted daily life and altered spending and employment patterns.
This growth in home meal preparation comes as Wall Street analysts and economists assess the future of the U.S. economy, particularly following President Donald Trump’s tariff strategies, which have intensified recession concerns and negatively impacted consumer confidence.
A rise in home cooking could potentially indicate reduced dining out, signaling that consumers are becoming more budget-conscious. This trend poses risks for gross domestic product (GDP), which is significantly influenced by consumer spending, accounting for roughly two-thirds of economic activity. A recession, often identified by two consecutive quarters of declining GDP, looms as a concern.
The current sentiment among everyday Americans regarding the national economy appears to be diminishing, evidenced by a notably low reading in the University of Michigan’s consumer sentiment index from last month.
Campbell’s announcement followed a successful fiscal third quarter, reporting earnings of 73 cents per share—exceeding Wall Street forecasts of 65 cents—and generating $2.48 billion in revenue compared to the anticipated $2.43 billion, as per analysts surveyed by FactSet.
Prior to Monday’s market opening, shares of Campbell’s gained 0.8%, although the stock has experienced a decline of over 18% since the beginning of 2025.
