NEW YORK (Reuters) - U.S. packaged food and beverage companies are facing pressure to look more closely at their costs in the wake of ketchup maker H.J. Heinz Co’s plans to merge with Kraft Foods Group Inc (>> Kraft Foods Group Inc), analysts said on Tuesday.

The deal has been a hot topic on the conference calls of Kellogg Co (>> Kellogg Company), Mondelez International Inc  (>> Mondelez International Inc) and Hershey Co (>> Hershey Co) in the past few weeks, with analysts asking whether the transaction would spur future cost reductions at the companies.

The Brazilian private equity firm 3G Capital, which backed Heinz in the deal announced in March, is known for its ability to trim the fat at companies, and many industry watchers think its playbook could be a model for others in the space.

Packaged food companies are struggling to grow and are under pressure from boards and shareholders to cut costs and increase profit margins. Campbell Soup Co (>> Campbell Soup Company) and General Mills Inc (>> General Mills, Inc.) could hear similar concerns when they report later this summer.

"The merger between Kraft and Heinz will subsequently put pressure on packaged food companies to really ensure they're placing a stringent eye on their cost structure," said Morningstar analyst Erin Lash, in an interview on Tuesday.

Many food companies already have cost-savings plans in place. Kellogg announced a four-year plan in 2013 that entails a 7 percent workforce reduction and annual cash savings of between $425 million and $475 million as of 2018.

"We are watching the Heinz Kraft deal very closely," Kellogg Chief Executive John Bryant said in an interview. "We don't think the right thing to do is blindly follow what they're doing."

Such answers may not be enough to satisfy the company shareholders in the long-term. "We would not be surprised if down the road, Kellogg cut a bit deeper into the bone," JP Morgan analyst Ken Goldman said in a note.

But Lash cautioned that Kellogg had been down that road before. In the past, the company had cut costs too deeply and not reinvested enough in the business, he said. "That's something that management has acknowledged and been forthright in assessing."

Kellogg shares were down 1.5 percent in late Tuesday afternoon trading.

(Editing by Ted Botha)

By Anjali Athavaley