I've never seen a (printed) product label with the ingredient list as a formatted list. They are always a comma-separated free-flowing text chunk. I guess this saves space.
By the way, what is it with a large proportion of labels containing either an asterisk but no footnote, or a footnote but no asterisk in the text for it to refer to? I suppose it tells us something about the workflow they use for producing these labels.
A comma in most condensed sans serif collections like those used for nutrition labels (Helvetica, Univers, et al.) takes up less space and is more readable than a bullet or other glyph.
Here's a quick example using Roboto Condensed and the ingredients for Fruit Loops. The bullets are longer or harder to read. (Using Roboto Condensed because it's free so others can test with it and it's comparable to Helvetica/Univers).
Sample: https://i.imgur.com/HeYTdWr.png
Ingredients: Water