The Kraft Heinz Company forecast annual profit below estimates on Wednesday, as the packaged food maker contends with sluggish demand for its higher-priced products including Lunchables and packaged meat.

The company expects fiscal 2025 adjusted earnings per share to be in the range of $2.63 to $2.74, compared with analysts' average estimates of $3.04.

U.S.-listed shares of the company fell 5% in premarket trading.