This is commonly done in most industrial food service verticals. It will be called product innovation, reformulation or some other R&D adjacent term. Large food companies have the equivalent of a commodities trading desk built-in.

The trigger to act commonly occurs when a key ingredient is hit with a supply related crunch. Avian flu just tripled the price of powdered egg whites? Guess we're using another binder for our ToasterOvenPastryTart. Another popular alternative is to stealthily decrease portion sizes.