A PYMNTS Company

We Need Antitrust Laws To Limit America’s Food Monopolies

 |  December 12, 2021

By Annika Olson, Austin American Stateman

We all love a good bowl of Cheerios. And who doesn’t like Fritos bean dip with their tortilla chips? I’m betting that you’re like me, and grab a can of soup or a jar of salsa off the shelf without thinking twice.

Well, maybe next time we should.

A recent study revealed that just a few massively powerful companies control nearly 80% of the market share of many items purchased by ordinary consumers at the supermarket. Those Cheerios I mentioned? Yep, General Mills, Kellogg, and Post own almost 75% of the market. Those salsas and dips? PepsiCo (who owns Tostitos, Lays, and Fritos) owns a whopping 90% of that market.

So, what’s the problem? Well, with the ability of giant corporations to own so much of the American food system, farmers, workers, and consumers are suffering. This week, a joint investigation by the Guardian and Food and Water Watch found that a small number of corporations control virtually every part of the food supply chain–from seeds and fertilizers to slaughterhouses and supermarkets. This leads to limited power for farmers, dangerous working conditions for workers, and higher prices for consumers.

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