By 2028, 90% of U.S. ice cream will be free of artificial dyes as companies phase out synthetic colors like Red 3, amid health concerns and a growing shift toward natural alternatives.

The current cycle of big food companies splitting up, getting together, and finding new ways to reach customers has the industry contemplating its future.

Warren Buffetts $10 billion bet on the Kraft Heinz merger was meant to be a food-industry masterstroke. A decade later, the ...