Consumer demand for fresh and less processed food has put enormous pressure on traditional consumer packaged goods giants, leading to a wave of high-profile changes in the sector, including cost-cutting consolidation and acquisitions of hipper and smaller brands.
In the background, though, a different kind of change is taking place, as the embattled giants race to rejigger product ingredient mixes to meet new consumer tastes.
Analysts report that about 180,000 products globally were redesigned—or, in its words, “reformulated”—in 2016 to meet consumer demands for healthier diets and lifestyles.
That’s more than double the 84,000 reformulations in 2015, and vastly more than the 22,500 in 2014, according to the study.
The 2016 study surveyed 102 companies, mostly retailers and manufacturers, from Walmart and Carrefour to P&G and Campbell Soup Co.
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