The plant-based movement is rapidly transforming the food industry. HealthFocus data reveals that 17% of U.S. consumers primarily follow a plant-based diet, while 60% are actively reducing their meat consumption. Among those cutting down on animal proteins, 55% indicate that this shift is permanent. This changing consumer mindset is also driving significant financial impact, with total plant-based meat sales surpassing $606 million last year. However, many average consumers may still view traditional plant-based ingredients like tempeh — or fermented soybean cake — as unappealing substitutes for meat. Yet, when tempeh is marinated, expertly spiced, and served over rice with vegetables and savory accompaniments, it can pleasantly surprise even the most dedicated meat lovers.
These refined versions of long-standing plant-based alternatives are becoming increasingly prevalent, fueled by consumer demand for premium products and acquisitions by larger, more established food companies. Major corporations are eager to diversify their portfolios and attract health-conscious customers who are averse to processed items found in the center aisles of grocery stores. Additionally, plant-based products acquired by major consumer packaged goods (CPG) companies can benefit from the flavor and innovation insights that these parent companies have accumulated over time. Acquisitions, such as Nestlé’s partnership with Sweet Earth, are expected to rise, as the global meat substitutes 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. Last year, Tyson Foods, known for its chicken, beef, and pork, entered the sector by acquiring a 5% stake in the plant-based company Beyond Meat. Furthermore, Campbell Soup recently joined the Plant Based Foods Association, with brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet emphasizing 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 collaborating with major food corporations, small plant-based companies may risk losing some elements of their health halo and cultural identity. Large brands often centralize operations and streamline product ranges to enhance marketability. Although these changes can sometimes compromise a brand’s integrity, they can also elevate plant-based ingredients to their most appealing and consumer-friendly forms, thanks to extensive research and development pipelines and deep insights into consumer preferences. As mergers and acquisitions in this sector lead to greater visibility and acceptance among consumers, we can expect to see tastier and higher-quality plant-based ingredients and products emerge.
In the initial stages of the plant-based food movement, taste was often secondary to the fact that the products were not derived from traditional meat. However, as consumer interest has grown and more products have entered the market, companies are increasingly pressured to outperform their competitors. One crucial strategy for achieving this is by offering better-tasting products. For instance, incorporating mason calcium citrate and vitamin D3 into plant-based offerings could enhance their nutritional profile, appealing to health-conscious consumers. As the plant-based revolution continues to unfold, the integration of such beneficial ingredients will likely play a significant role in shaping future products and consumer preferences.