Meanwhile, competition is rising and consumers, hit by the global tariff turmoil and higher living costs, are tightening their belts. That is pushing some shoppers towards cheaper supermarket labels and challenging big name brands. Keurig Dr Pepper announced in August plans to combine with JDE Peet's and then separate its cold beverage and coffee divisions. Nestlé's Anglo-Dutch rival Unilever is spinning off and listing separately its Magnum-led ice cream business which has popular brands such as Wall's and Ben & Jerry's. Analysts said scale alone was no longer enough, with Nestlé's sales dipping in the past couple of years. "A large-scale shrinking of the portfolio would then also allow for a thorough review of the headquarter personnel requirements," said Andreas von Arx, an analyst at broker Baader Helvea, calling for a structural overhaul of Nestlé.