Packaged food giants turn to acquisitions, startups, and research to stay relevant
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The packaged food industry is expected to bring in $3 trillion dollars worldwide by 2020, according to a report from the firm Allied Market Research. And innovation is key as the industry adapts to consumer tastes. That’s because consumers want healthier food these days — the kind of plant-based proteins and items you can scoop up along the perimeter of the grocery store. The desire for fresh foods has packaged food industry giants hungry to stay relevant, by acquiring other companies or investing in new research and food startups. Conagra acquired the natural foods line Boulder Brands through its purchase of Pinnacle Foods last year.
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