This chapter provides a valuable historical perspective for the journey of the food industry in America from “there” in the late nineteenth century to “here” in the twenty-first century. It also discusses the events, technological innovations, trends, and consumer needs that led the food industry from the turn of the last century until early 2000s. The chapter then touches on the challenges and opportunities for product developers. This wonderful overview of the key benchmarks in the history of the food industry will provide the reader with a rapid way to see that innovation is not new – but a path the food industry has been on for years and years. Food companies are facing economic realities for competition in the global marketplace. It is notable that most mergers and acquisitions occurred from 1998 through 2001. Many of those acquired were functional food companies.