The plant-based movement is rapidly transforming the food industry. Recent data from HealthFocus reveals that 17% of consumers in the U.S. primarily follow a plant-based diet, while 60% are actively reducing their meat consumption. Among those cutting back on animal proteins, a significant 55% report that this change is permanent. This shift in consumer behavior is also creating substantial economic impacts, with total plant-based meat sales reaching over $606 million last year. However, despite the growing interest, many consumers do not consider traditional plant-based options like tempeh—fermented soybean cake—to be appealing or nutritious substitutes for meat. Yet, when tempeh is marinated, seasoned well, and served with rice and vegetables, it can surprise even the most dedicated meat lovers.
These enhanced versions of classic plant-based alternatives are becoming increasingly popular, driven by consumer demand for premium products and the acquisitions of smaller brands by larger, mainstream food companies. Major corporations are eager to diversify their offerings and attract health-conscious customers who prefer to avoid processed items typically found in the center aisles. When plant-based products are acquired by large consumer packaged goods (CPG) firms, they gain access to valuable expertise in flavor development and innovation, which can enhance the appeal of these items. Forbes predicts that acquisitions like Nestlé’s partnership with Sweet Earth will become more common, as the global market for meat substitutes is expected to reach $5.96 billion by 2020. This segment could represent a third of the plant-based food market by 2050. Tyson Foods, known for its chicken, beef, and pork, made its entry into this sector last year with a 5% investment in Beyond Meat. Additionally, Campbell Soup has recently joined the Plant Based Foods Association, promoting brands such as Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet. The company has also introduced Bolthouse Farms Plant Protein Milk, a line of refrigerated plant-based milks made from pea protein.
While small plant-based companies benefit from partnerships with large food brands, there is a risk of losing some of their health-oriented image and cultural identity. Large companies often centralize operations and simplify product lines to enhance marketability. Although these changes can sometimes compromise a brand’s integrity, they can also elevate plant-based ingredients into their most consumer-friendly and flavorful forms, supported by extensive research and development and a deep understanding of consumer preferences. As mergers and acquisitions in this field continue to increase consumer awareness and acceptance, we can expect to see tastier and higher-quality plant-based ingredients and products emerge. In the early stages of the plant-based food movement, taste was often overshadowed by the fact that products were not derived from traditional meat. However, as consumer demand has surged and more options have entered the market, companies are under significant pressure to outperform their rivals—one effective strategy for achieving this is by offering better-tasting products that may also include beneficial ingredients such as calcium citrate and vitamin C to enhance their nutritional value.