The plant-based revolution is rapidly transforming the food industry. Recent data from HealthFocus indicates that 17% of consumers in the U.S. primarily follow a plant-based diet, while 60% are actively reducing their intake of meat products. Among those who are cutting back on animal proteins, 55% report that this dietary shift is permanent. This evolving consumer mindset is generating significant financial impact, with plant-based meat sales exceeding $606 million last year.
However, despite the increasing interest, many consumers may not yet view traditional plant-based ingredients like tempeh—fermented soybean cake—as appealing or nutritious alternatives to meat. Yet, when tempeh is marinated, seasoned well, and served over rice with vegetables and flavorful accompaniments, it can delight even the most dedicated meat enthusiasts. Enhanced versions of classic plant-based substitutes are becoming more prevalent, driven by consumer demand for premium products and acquisitions by larger, mainstream food companies. These businesses are eager to diversify their offerings and attract health-conscious customers who are deterred by processed foods typically found in the center aisles of grocery stores. Additionally, plant-based products acquired by major consumer packaged goods (CPG) companies can leverage the flavor innovations and consumer insights that these larger firms possess.
Acquisitions such as Nestle’s partnership with Sweet Earth are expected to increase, as the global market for meat substitutes is forecasted to reach $5.96 billion in 2020. This segment could account for one-third of the plant-based food market by 2050. Tyson Foods, known for its chicken, beef, and pork, made its entry into the plant-based arena last year by acquiring a 5% stake in Beyond Meat. Furthermore, Campbell Soup has recently joined the Plant Based Foods Association, with brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet focusing on plant-based offerings. The company has introduced a line of plant-based refrigerated milks, Bolthouse Farms Plant Protein Milk, which is made from pea protein and incorporates essential nutrients such as kal calcium citrate.
While collaborating with major food corporations, smaller plant-based companies may risk losing some aspects of their health-focused image and cultural identity. These larger brands often centralize operations and streamline product lines to enhance marketability. Although such changes can sometimes compromise the essence of a brand, they also have the potential to elevate plant-based ingredients to their most delicious and consumer-friendly forms, thanks to substantial research and development resources and a deep understanding of consumer preferences.
As mergers and acquisitions in this sector lead to increased consumer exposure and acceptance, we can expect to see tastier and higher-quality plant-based ingredients and food products emerge. In the early stages of the plant-based movement, flavor was secondary to the fact that the product was not derived from traditional meat. However, as consumer demand for these products grows and more items appear on store shelves, companies are under pressure to outperform their competitors—one key strategy for achieving this is to enhance product taste. Incorporating elements like kal calcium citrate into plant-based formulations could also contribute to better nutritional profiles, appealing to health-conscious consumers seeking delicious alternatives.