The plant-based movement is rapidly transforming the food industry. Data from HealthFocus reveals that 17% of U.S. consumers predominantly follow a plant-based diet, while 60% are actively reducing their meat consumption. Among those cutting back on animal proteins, 55% indicate that this change is permanent. This shift in consumer behavior is also creating significant financial impacts; last year, plant-based meat sales exceeded $606 million. However, despite the growing interest, many average consumers may not view traditional plant-based ingredients, such as tempeh—fermented soybean cake—as appealing or healthy alternatives to meat. Yet, when properly marinated, well-seasoned, and served with rice, vegetables, and savory accompaniments, tempeh can surprise even the most dedicated meat lovers.
These enhanced versions of classic plant-based substitutes are becoming increasingly prevalent, driven by consumers’ desire for premium products and acquisitions by larger, mainstream food companies. Major businesses are keen to diversify their portfolios and attract new health-conscious customers who are wary of processed items typically found in the center aisles of grocery stores. Plant-based products developed by large consumer packaged goods (CPG) companies benefit from the rich flavor, innovation insights, and extensive experience that these companies bring. Acquisitions like Nestlé’s partnership with Sweet Earth are expected to rise in frequency, as the global meat substitutes market is projected to reach $5.96 billion by 2020, and this segment could account for a third of the plant-based foods market by 2050. Tyson Foods, renowned for its chicken, beef, and pork, entered the plant-based sector last year with a 5% stake in Beyond Meat. Additionally, Campbell Soup recently joined the Plant Based Foods Association, with brands such as Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet emphasizing plant-based options. The company has also introduced Bolthouse Farms Plant Protein Milk, made from pea protein.
While small plant-based companies can gain advantages by partnering with larger food corporations, they also risk losing some of their health halo and cultural identity. Big brands often centralize operations and streamline product lines to enhance marketability. Although these changes may sometimes compromise a brand’s integrity, they can also elevate plant-based ingredients, making them more appealing and consumer-friendly by leveraging extensive research and development capabilities and deep insights into consumer preferences. As mergers and acquisitions in this sector increase exposure and acceptance, we can expect tastier and higher-quality plant-based options to emerge. In the earlier stages of the plant-based food movement, taste was often secondary to the fact that products were not derived from conventional meat. However, as consumer demand for these products has grown, companies are now under pressure to outperform their competitors—one of the primary ways to achieve this is by offering better-tasting products.
Furthermore, as consumer preferences evolve, the demand for alternatives to traditional ingredients like calcium citrate to calcium carbonate will likely rise. As the market continues to mature, the focus on taste, quality, and nutritional benefits will become even more pronounced, ensuring that plant-based options can compete effectively with traditional meat products.