Food Companies Can’t Figure Out What Americans Want to Eat

Industry struggles to keep up with consumers who are shifting to fresh from packaged products while new competitors beat them on price and quality

Sales for the largest packaged food companies have been down the past few years as changing tastes, startup brands and e-commerce giants threaten from all angles. WSJ’s Ken Brown takes us on a walk through the supermarket. Photo: Getty Images.
By

Food shoppers and investors looking at the packaged food aisles of big grocery stores have reached the same conclusion: There is nothing to buy.

The classic consumer food companies—makers of cereals, snacks, soups and condiments—are no longer the staples of pantries or portfolios. Shares of some are down by a third or more over the past year as strategies to boost sales fail, and consumers embrace fresh food and new brands.

Supermarkets...