With Kraft Heinz Co. reportedly considering a breakup of its business, some analysts believe more of its food-industry peers should do the same.

Kraft Heinz is reportedly preparing to spin off its Kraft-branded products in a move that could value the new entity at up to $20 billion, leaving the core business focused on sauces and condiments like Heinz ketchup.

A spinoff of part of the grocery operation could create a business valued at as much as $20 billion, according to the WSJ.