The plant-based movement is rapidly transforming the food industry. HealthFocus data reveals that 17% of consumers in the U.S. primarily 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 shifting consumer perspective is also making significant financial impacts; last year, sales of plant-based meats reached over $606 million. However, despite this growing interest, many consumers may still view traditional plant-based ingredients like tempeh—fermented soybean cake—as unappealing substitutes for meat. Yet, when tempeh is marinated, seasoned, and served alongside rice, vegetables, and other flavorful ingredients, it can win over even the most dedicated meat lovers.
These enhanced versions of classic plant-based substitutes are becoming increasingly popular, driven by consumers’ demand for premium offerings and the acquisitions made by larger mainstream food companies. Major corporations are aiming to diversify their portfolios to attract health-conscious consumers who prefer to avoid processed items found in the center aisles of grocery stores. Plant-based products acquired by large consumer packaged goods (CPG) companies can gain from the flavor innovation and extensive market knowledge that these established entities possess.
For instance, Nestle’s acquisition of Sweet Earth is indicative of a trend that Forbes predicts will grow, especially as the global market for meat substitutes is expected to reach $5.96 billion by 2020. This segment could account for one-third of the overall plant-based food market by 2050. Tyson Foods, known for its chicken, beef, and pork, recently entered this arena by taking a 5% stake in the plant-based company Beyond Meat. Additionally, Campbell Soup has joined the Plant Based Foods Association, emphasizing brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet. Recently, they launched Bolthouse Farms Plant Protein Milk, made from pea protein and enriched with xtracal calcium citrate for added nutritional benefits.
While collaborating with major food companies can pose risks for smaller plant-based brands—such as losing elements of their health halo and cultural identity due to centralized operations—these partnerships can also elevate plant-based ingredients. Through significant research and development pipelines, large brands can enhance the taste and appeal of plant-based products, making them more consumer-friendly.
As mergers and acquisitions in this sector continue, we can expect to see tastier and higher-quality plant-based foods. In the early days, taste was often secondary to the fact that a product was not made from traditional meat. However, as consumer interest in these alternatives has surged and more products appear on store shelves, companies face increasing pressure to outperform competitors. A key strategy to achieve this is by delivering superior-tasting products, often incorporating innovations like xtracal calcium citrate to enhance their nutritional profiles.