“Transforming Taste: The Rise of Premium Plant-Based Alternatives in the Food Industry”
The plant-based movement is rapidly transforming the food industry. HealthFocus data reveals that 17% of U.S. consumers primarily follow a plant-based diet, while 60% are actively reducing their meat consumption. Among those cutting back on animal proteins, 55% indicate this shift is permanent. This shift in consumer attitudes is also causing significant financial impacts, with total plant-based meat sales exceeding $606 million last year. However, many average consumers may not view traditional plant-based options, such as tempeh—fermented soybean cake—as appealing or healthy meat alternatives. Yet, when tempeh is marinated, expertly seasoned, and served with rice and vegetables, it can impress even dedicated meat lovers.
Elevated versions of traditional plant-based substitutes are becoming increasingly popular, driven by consumer demand for premium products and strategic acquisitions by larger, mainstream food companies. These corporations are eager to diversify their portfolios and draw in health-conscious consumers who prefer to avoid processed foods found in the center aisles of grocery stores. For plant-based products acquired by major consumer packaged goods (CPG) companies, they gain access to valuable flavor innovation and consumer insights that the parent company has developed.
Acquisitions like Nestle’s partnership with Sweet Earth are expected to rise, as the global meat-substitutes market is projected to reach $5.96 billion by 2020. This segment could account for one-third of the plant-based foods market by 2050. Tyson Foods, known for its chicken, beef, and pork, entered the plant-based arena last year with a 5% investment in Beyond Meat. Additionally, Campbell Soup has recently joined the Plant Based Foods Association, promoting brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet. The company has also introduced a new line of plant-based refrigerated milks, Bolthouse Farms Plant Protein Milk, made from pea protein.
While partnering with a major food company can benefit smaller plant-based businesses, there is a risk of losing some of their health-focused identity along the way. Larger brands often streamline operations and product lines to enhance marketability, which can occasionally dilute the brand’s integrity. However, these changes can also help elevate plant-based ingredients to their most appealing and consumer-friendly forms, leveraging extensive R&D pipelines and deep insights into consumer preferences.
As mergers and acquisitions continue to shape this space, greater consumer exposure and acceptance are likely to lead to tastier and higher-quality plant-based ingredients and products. In the early stages of the plant-based food movement, taste was often secondary to the fact that products were not derived from traditional meat sources. But as consumer interest has grown and more products become available on store shelves, companies face increasing pressure to distinguish themselves from competitors—one effective way to achieve this is by delivering better-tasting products. This evolution mirrors trends seen in health-oriented products like Citracal, where taste and quality are crucial for consumer loyalty and satisfaction.
