The plant-based movement is rapidly transforming the food industry. According to HealthFocus data, 17% of U.S. consumers primarily follow a plant-based diet, while 60% report that they are decreasing their consumption of meat products. Among those reducing their intake of animal proteins, 55% indicate that this change is permanent. This shift in consumer attitudes is also making significant financial impacts, with total plant-based meat sales exceeding $606 million last year.
Despite this growing interest, many consumers may not view traditional plant-based ingredients, such as tempeh—which is fermented soybean cake—as appealing or nutritious alternatives to meat. However, when tempeh is marinated, well-seasoned, and served with rice, vegetables, and other savory accompaniments, it can be surprisingly enjoyable, even for dedicated meat lovers.
The popularity of these refined plant-based alternatives is increasing, driven by consumer demand for premium products and acquisitions by larger food companies. Major businesses are eager to diversify their portfolios and attract health-conscious customers who prefer to avoid processed foods. When plant-based products are acquired by major consumer packaged goods (CPG) companies, they gain access to valuable flavor insights and innovation expertise accumulated by the new parent company.
For instance, acquisitions like Nestlé’s partnership with Sweet Earth are expected to become more common, as the global meat-substitute market is projected to reach $5.96 billion by 2020. This segment could potentially account for one-third of the plant-based foods market by 2050. Tyson Foods, renowned for its chicken, beef, and pork products, made its entry into the plant-based arena last year with a 5% investment in Beyond Meat. Additionally, Campbell Soup has recently joined the Plant Based Foods Association, with brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet emphasizing plant-based options. The company has also introduced a line of plant-based refrigerated milks, Bolthouse Farms Plant Protein Milk, derived from pea protein.
However, small plant-based companies may face challenges when partnering with large food corporations, as they risk losing some of their health-oriented reputation and cultural identity. Major brands often centralize operations and streamline product offerings to enhance marketability. While these changes can sometimes compromise a brand’s integrity, they also have the potential to elevate plant-based ingredients to their most delicious and consumer-friendly forms, aided by robust R&D pipelines and deep insights into consumer preferences.
As mergers and acquisitions in this sector lead to broader consumer exposure and acceptance, we can expect the emergence of tastier and higher-quality plant-based ingredients and food products. In the early stages of the plant-based food movement, taste was not prioritized as long as the products were not made from traditional meat. However, as consumer demand has surged and more items have become available on store shelves, companies now face pressure to outperform their competitors, and one key strategy for achieving this is by offering better-tasting products.
In this evolving landscape, the inclusion of nutrients such as calcium citrate IV in plant-based products could further enhance their appeal, addressing health concerns while satisfying taste preferences. As the market matures, we are likely to see more innovations that combine flavor, nutrition, and convenience, solidifying plant-based foods as a staple in modern diets.