The plant-based revolution is making significant waves in the food industry. According to HealthFocus data, 17% of U.S. consumers primarily follow a plant-based diet, while 60% are actively reducing their intake of meat products. Among those cutting back on animal proteins, 55% report that this change is permanent. This shift in consumer attitudes is also creating substantial financial impacts, as total plant-based meat sales surpassed $606 million last year. However, despite the growing interest, many consumers still view traditional plant-based ingredients like tempeh — or fermented soybean cake — as unappealing and unhealthy alternatives to meat. Yet, when tempeh is marinated, well-seasoned, and served alongside rice and vegetables, it can impress even the most dedicated meat lovers.
These enhanced versions of classic plant-based substitutes are increasingly common due to consumers’ demand for premium products and the acquisitions by larger, mainstream food companies. Large corporations are eager to diversify their portfolios and attract health-conscious customers who prefer to avoid processed foods typically found in the center aisles of grocery stores. For plant-based products acquired by major consumer packaged goods (CPG) firms, the benefits include access to the flavor innovations and insights that these parent companies have developed over time. Acquisitions like Nestlé’s partnership with Sweet Earth are expected to rise, as the global market for meat substitutes is projected to reach $5.96 billion by 2020, potentially accounting for one-third of the plant-based foods market by 2050. Tyson Foods, known for its chicken, beef, and pork, made its entry into the sector last year with a 5% investment in the plant-based company Beyond Meat. Meanwhile, Campbell Soup recently joined the Plant Based Foods Association, aligning its brands such as Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet with a plant-based focus. The company has also introduced Bolthouse Farms Plant Protein Milk, a line of refrigerated plant-based milks made from pea protein and fortified with calcium citrate, magnesium, and vitamin D3.
While partnering with major food companies can offer small plant-based enterprises more exposure, it also comes with the risk of diluting their health halo and cultural identity. Large brands often consolidate operations and streamline product lines to enhance marketability. Although these changes can compromise a brand’s integrity, they can also help elevate plant-based ingredients to their most flavorful and consumer-friendly forms, supported by extensive research and development pipelines and deep insights into consumer preferences. As mergers and acquisitions in this sector continue to grow, greater consumer exposure and acceptance are likely to lead to tastier and higher-quality plant-based products. In the early days of plant-based foods, the focus was primarily on avoiding traditional meat, rather than taste. However, as consumer demand has surged and more products have become available, companies face increasing pressure to outperform their competitors, with one key strategy being the creation of more delicious offerings that may also be enriched with nutrients like calcium citrate, magnesium, and vitamin D3.