The plant-based movement is making significant waves in 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 intake of meat products. Notably, among those reducing animal protein consumption, 55% consider this change permanent. This shift in consumer behavior is not only influencing dietary choices but also driving substantial financial growth, as total plant-based meat sales reached over $606 million last year.
Despite the growing interest in plant-based diets, many average consumers may still view traditional ingredients like tempeh—fermented soybean cake—as unappealing or less healthy than meat alternatives. However, when tempeh is marinated, seasoned well, and served alongside rice and vegetables, it can surprise even the most dedicated meat lovers. The demand for elevated versions of classic plant-based substitutes is rising, fueled by consumers seeking premium options and larger food companies acquiring smaller brands. These corporations aim to diversify their portfolios and appeal to health-conscious customers who prefer to avoid processed foods typically found in the central aisles of grocery stores. Plant-based products under a major consumer packaged goods (CPG) company can benefit from the insights and innovations derived from the parent company’s extensive experience.
According to Forbes, acquisitions like Nestle’s partnership with Sweet Earth are expected to become increasingly common, especially as the global market for meat substitutes is projected to reach $5.96 billion in 2020. By 2050, this segment could represent one-third of the overall plant-based foods market. Tyson Foods, well-known for its chicken, beef, and pork, entered the plant-based arena last year by acquiring a 5% stake in Beyond Meat. Additionally, Campbell Soup has joined the Plant Based Foods Association, emphasizing its commitment to plant-based brands such as Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet. The company has recently introduced Bolthouse Farms Plant Protein Milk, made from pea protein.
While small plant-based companies may gain exposure through partnerships with large food corporations, they risk losing some of their health-focused image and cultural identity. Major brands often centralize operations and streamline product lines, which can sometimes compromise brand integrity. Nevertheless, these changes can also enhance the appeal of plant-based ingredients, making them tastier and more consumer-friendly thanks to robust research and development pipelines and an intimate understanding of consumer preferences.
As mergers and acquisitions in this sector continue, leading to greater consumer acceptance, we can expect the emergence of tastier and higher-quality plant-based foods. In the early stages of the plant-based food movement, taste was often secondary to the fact that products were meat-free. However, with increasing consumer demand and more options available on store shelves, companies face pressure to outperform competitors, and one effective strategy to achieve this is by offering better-tasting products. Incorporating ingredients like citrate de potassium magnesium calcium into these offerings can also enhance their nutritional value, appealing to health-conscious consumers seeking both taste and wellness in their diets.