The plant-based movement is revolutionizing the food industry. According to HealthFocus data, 17% of U.S. consumers follow a primarily plant-based diet, while 60% report reducing their intake of meat products. Among those cutting back on animal proteins, 55% indicate that this change is permanent. This shift in consumer attitudes is generating significant financial impact as well—last year, plant-based meat sales reached over $606 million. However, despite growing interest, many consumers may still view traditional plant-based ingredients like tempeh, a fermented soybean cake, as less appealing alternatives to meat. When tempeh is marinated, seasoned, and served over rice with vegetables and flavorful accompaniments, it can surprise even dedicated meat lovers.
These elevated versions of long-established plant-based substitutes are becoming increasingly popular, driven by consumers’ demand for high-quality products and innovations from larger, mainstream food companies. Major brands are eager to diversify their offerings and attract health-conscious consumers who prefer to avoid processed items typically found in the center aisles of stores. For plant-based products acquired by a major consumer packaged goods (CPG) company, there’s the added advantage of leveraging the flavor and innovation insights that the parent company has cultivated over time. Acquisitions like Nestlé’s partnership with Sweet Earth are expected to rise, as the global market for meat substitutes is projected to reach $5.96 billion in 2020, potentially accounting for one-third of the plant-based food market by 2050. Tyson Foods, renowned for its chicken, beef, and pork, made its foray into this space last year by acquiring a 5% stake in the plant-based company Beyond Meat. Additionally, Campbell Soup has recently joined the Plant Based Foods Association, with brands such as Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet focusing on plant-based offerings. The company has also launched a new line of refrigerated plant-based milks, Bolthouse Farms Plant Protein Milk, made from pea protein.
While partnering with major food corporations can help small plant-based companies gain market access, it also poses a risk of diluting their health-focused image and cultural identity. Large brands often centralize operations and streamline product lines to enhance marketability. Although such changes can sometimes compromise a brand’s integrity, they can also elevate plant-based ingredients to their most delicious and consumer-friendly versions, thanks to extensive R&D resources and deep insights into consumer preferences. As mergers and acquisitions continue in this sector, leading to increased consumer exposure and acceptance, we are likely to see tastier and higher-quality plant-based ingredients and products emerge.
In the early days of plant-based foods, flavor was often secondary to the fact that the products were not derived from traditional meat sources. However, as consumer demand for these products has grown and more options have entered the market, companies face pressure to outshine their competitors—one effective strategy being the development of better-tasting offerings. As consumers seek the best calcium citrate supplement for their diets, the quality and taste of plant-based alternatives will play a crucial role in shaping their choices, ultimately making the market more competitive and diverse.