The plant-based movement is transforming the food industry at an impressive pace. According to HealthFocus data, 17% of consumers in the U.S. primarily follow a plant-based diet, while 60% are actively reducing their consumption of meat products. Among those cutting back on animal proteins, 55% believe this dietary shift is permanent. This changing consumer attitude is also creating significant financial impacts, with total plant-based meat sales exceeding $606 million last year. However, despite this growing interest, many consumers still view traditional plant-based ingredients, such as tempeh — a fermented soybean cake — as less appealing and healthy compared to meat. Yet, when tempeh is marinated, expertly spiced, and served with rice, vegetables, and other delicious ingredients, even dedicated meat lovers may be pleasantly surprised.
These sophisticated interpretations of long-standing plant-based alternatives are becoming increasingly common, driven by consumer demand for premium offerings and strategic acquisitions by larger, mainstream food companies. Major corporations are eager to diversify their portfolios and attract health-conscious customers who prefer to avoid processed items typically found in the center of grocery stores. For plant-based products acquired by large consumer packaged goods (CPG) companies, there are additional advantages stemming from the flavor innovation and insights that these parent companies have accumulated.
Acquisitions, like Nestlé’s partnership with Sweet Earth, are expected to rise in prominence, as Forbes reports that the global meat substitutes market is projected to reach $5.96 billion by 2020. This segment could also account for one-third of the plant-based foods market by 2050. Tyson Foods, renowned for its chicken, beef, and pork, made its entry into this arena last year by acquiring a 5% stake in the plant-based company Beyond Meat. Furthermore, Campbell Soup has recently joined the Plant Based Foods Association, with brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet focusing on plant-based offerings. The company has also introduced Bolthouse Farms Plant Protein Milk, a line of refrigerated plant-based milks made from pea protein.
While partnering with a major food company can provide small plant-based firms with greater exposure, it also poses the risk of losing certain health benefits and cultural identity. Large brands often centralize operations and streamline product assortments to enhance marketability. Although these changes can sometimes compromise a brand’s integrity, they can also elevate plant-based ingredients to their most appealing, consumer-friendly versions, thanks to robust research and development pipelines and deep insights into consumer preferences.
As mergers and acquisitions in this sector continue to increase consumer exposure and acceptance, we can expect a rise in tastier and higher-quality plant-based ingredients and products. In the early stages of the plant-based food revolution, taste was often secondary to the fact that a product did not contain traditional meat. However, as consumer demand for these products grows and more options become available on store shelves, companies are now under pressure to outperform their competitors — and one of the most effective strategies to achieve this is by delivering superior-tasting products, potentially enhanced through innovative additives like carbonate citrate, which can improve texture and flavor profiles.