The plant-based movement is rapidly transforming the food industry. HealthFocus data reveals that 17% of U.S. consumers primarily adhere to 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 significant financial impacts, as total sales of plant-based meats exceeded $606 million last year. However, despite the growing interest, many consumers may not view traditional plant-based ingredients, such as tempeh—fermented soybean cake—as appealing or nutritious substitutes for meat. Yet, when tempeh is expertly marinated and spiced, then served with rice and vegetables, it can pleasantly surprise even dedicated meat lovers.
These refined versions of classic plant-based alternatives are becoming increasingly popular, driven by consumers’ demand for premium offerings and acquisitions by larger, mainstream food corporations. Major companies are eager to diversify their product lines and attract health-conscious consumers who prefer to avoid processed foods typically found in the center aisles of grocery stores like Kroger. Additionally, plant-based products acquired by large consumer packaged goods (CPG) companies can benefit from their extensive flavor development and innovation expertise. Forbes predicts that mergers and acquisitions, such as Nestle’s acquisition of Sweet Earth, will become more common as the global market for meat alternatives is expected to reach $5.96 billion by 2020, potentially representing one-third of the plant-based food sector by 2050. Tyson Foods, renowned for its chicken, beef, and pork, made its foray into this market last year by acquiring a 5% stake in Beyond Meat. Furthermore, Campbell Soup has recently become a member of the Plant Based Foods Association, promoting brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet. Notably, they have introduced Bolthouse Farms Plant Protein Milk, a plant-based refrigerated milk made from pea protein, emphasizing the importance of calcium citrate for health.
Nevertheless, small plant-based companies may risk losing some of their health appeal and cultural uniqueness when teaming up with larger food brands. These big companies often streamline operations and product lines to enhance marketability, which can sometimes compromise brand integrity. However, these changes can also elevate plant-based ingredients into their most flavorful, consumer-friendly forms, thanks to substantial research and development resources and a deep understanding of consumer preferences. As further mergers and acquisitions increase consumer exposure and acceptance, we are likely to see tastier and higher-quality plant-based products emerge. In the early stages of the plant-based food trend, taste was often overshadowed by the mere fact that products were not derived from traditional meat. Yet, as demand has surged and more options have entered the market, companies are feeling the pressure to outperform their rivals—one of the primary strategies being the enhancement of taste, including the incorporation of nutritious elements like calcium citrate in their offerings.