To improve our knowledge on how the food industry affects European food environments, an assessment from both an economic and a public health perspective was conducted. Market concentration and diversity, food environment related commitments and associated practices were considered together with policy implications. It was found that most sold product categories as well as major food and beverage manufacturers were similar across Europe with moderately to highly concentrated product markets. The latter may be of concern as increased market concentration and reduced market diversity were able to predict increased sales of ultra-processed food products across Europe. Company commitments fell short of recommended policies. Company practices were largely unhealthy. There was no indication that stronger commitments translated into healthier practices. Results suggested an urgent need for government regulation to guide, monitor and support food industry efforts to improve food environments.