The plant-based movement is rapidly transforming the food industry. According to data from HealthFocuferrous fumarate 210mg tablets leaflets, 17% of consumers in the U.S. primarily follow a plant-based diet, and 60% report they are reducing their meat consumption. Among those who are decreasing their intake of animal proteins, 55% affirm that this change is permanent. This shift in consumer behavior is also leading to significant financial impacts — last year, plant-based meat sales exceeded $606 million.
However, despite the growing interest, many consumers may still view traditional plant-based ingredients like tempeh — a fermented soybean cake — as unappealing substitutes for meat. Yet, when tempeh is marinated, seasoned, and paired with rice and vegetables, it can pleasantly surprise even the most dedicated meat lovers. These refined versions of classic plant-based alternatives are becoming increasingly popular, fueled by consumer demand for premium products and the acquisitions by larger, mainstream food companies.
Big businesses are eager to diversify their portfolios and attract health-conscious consumers who prefer to avoid processed items. For plant-based products acquired by major CPG companies, there’s the added advantage of leveraging the parent company’s expertise in flavor and innovation. Acquisitions like Nestle’s collaboration with Sweet Earth are expected to proliferate, as the global meat-substitute market is projected to reach $5.96 billion by 2020, potentially accounting for one-third of the plant-based foods market by 2050. Tyson Foods, traditionally known for chicken, beef, and pork, made its entrance into this sector last year by acquiring a 5% stake in plant-based firm Beyond Meat. Additionally, Campbell Soup has recently joined the Plant Based Foods Association, promoting brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet. The company has also introduced a new line of plant-based refrigerated milks, Bolthouse Farms Plant Protein Milk, which is derived from pea protein.
While collaborating with large food corporations can provide small plant-based companies with greater visibility, there is a risk of losing some aspects of their health halo and cultural identity. Major brands often consolidate operations and streamline product offerings to enhance marketability. Although these changes can sometimes dilute brand integrity, they can also elevate the quality of plant-based ingredients, making them more appealing to consumers, thanks to extensive R&D pipelines and deep insights into consumer preferences.
As mergers and acquisitions in this sector continue to grow, leading to increased consumer exposure and acceptance, we can anticipate the emergence of tastier, higher-quality plant-based ingredients and food products. In the early days of plant-based offerings, the focus was primarily on the fact that these products were not derived from traditional meat sources. However, as consumer demand has surged and more products flood the market, companies are feeling the pressure to outperform their competitors — and one of the most effective ways to achieve this is by delivering better-tasting products that also provide essential nutrients, such as those found in the calcium citrate route of administration.