The U.S. plant-based food market was worth $8.1 billion in 2023, according to the Good Food Institute. That evaluation represented a significant increase from its $3.9 billion market size in 2017. Fueled by consumers seeking goods derived from nature with fewer chemical additives, the space is expected to continue its upward sales trend this year. With consumers becoming increasingly savvy about what goes into the products they spend their dollars on, companies have had to take on the challenge of delivering cleaner, higher-quality goods that not only meet the new demands, but also provide great taste and wellness benefits. 

While eco-conscious consumers are largely fueling the spike in the plant-based popularity meter, they aren't alone. Weekend warriors and elite athletes have also started shifting to a more plant-forward lifestyle as we learn more about the effects a plant-based diet can have on an athlete's performance. Also going greener: Beauty enthusiasts want cleaner, plant-fueled products. And parents are switching to veggie-boosted products to help their little ones thrive. 

The movement is global: Innova Market Insights cites Asia as the continent that has experienced the fastest plant-based market growth rate with a +85% CAGR of food and beverage launches between 2018 and 2022. With similar growth rates seen throughout the Middle East, Africa, and Latin America, the case continues to be made that the plant-based market is only expanding, and quickly. 

Trends Within the Trend

Brands like Fun-Gal Snacks, parent company of Popadelics, have taken notice of the trends and used the intel to innovate. Co-Founder and CEO, Marilyn Yang, has seen a noteworthy shift within the market towards real food. "For example, instead of synthetic plant-based meats, consumers are more and more focused on vegetables themselves, whether it's a bean patty or a Portobello burger. We were conscious of this when developing our own product, Popadelics Crunchy Mushroom Chips. It was important for us to keep the integrity of the shiitake mushroom cap in our chips, namely to signal to consumers that these truly are 'real' mushrooms, not a tortilla chip that 'maybe' had traces of mushroom powder in it. More than ever before, consumers want to know exactly what they're eating."

The challenge for brands operating in the category? "Exploring new ways to enhance the nutritional profile of plant-based products, while preserving an appetizing taste and pleasant sensory experience to ensure enjoyment, as well as formulate cost-effective and sustainable products," says Damien-Pierre Lesot, Head of Product Marketing at Roquette. "As such, we’re seeing a new wave of botanical sources—like fava beans,  lentils or fungi—gaining popularity, as manufacturers attempt to meet diverse consumer preferences. Positive nutrition is a key trend impacting the plant-based space as consumers increasingly seek nutritious ingredients to bolster their health, as part of a balanced diet. This doesn’t mean avoiding unhealthy ingredients all together though—taste and indulgence still rank highly. In other words, they want to enjoy added health benefits of the food they eat, without compromising on taste and pleasure or giving up the more traditional ingredients they love. And all while demanding sustainable, responsibly-sourced and label-friendly options."

Also key here: Consumers have access to an overabundance of information these days. Social media—and influencers specifically—can either drive sales for a product if it meets its claims or be a catalyst for its downfall if that brand has merely slapped a "plant-based" sticker on its product. Companies that are genuine in their approach to developing a product that caters to well-informed consumers will reap the benefits in sales and popularity.

Innovation Insights

"There’s so much innovation happening across the plant-based space," says Mark Fahlin, Category Marketing Manager at Cargill. "As one example, precision fermentation could be a big unlock for both plant-based meat and dairy alternatives. On the dairy-alternative side, dairy proteins made through precision fermentation offer new possibilities, including lactose-free dairy proteins and the potential for more soluble proteins that enable even higher protein fortification levels in beverages. There’s the potential for other benefits, too, as protein produced via precision fermentation may prove to offer advantages spanning scalability, affordability, and even sustainability as compared to traditional dairy proteins."

With 44% of consumers requesting more flavor option availability, according to Innova, companies are leaning into technology to create their next delicious offering. Among the brands that are taking a fresh approach: At Expo West, Blueshift Nutrition showcased Superblends featuring the company's proprietary FlavorWeaving technique that “elevates the complexity and interest of each drink by incorporating the natural flavor notes of botanicals, fruits, berries, and active ingredients without resorting to added sugar or artificial flavors or sweeteners.” As Paal Gisholt, Founder and CEO, explained, “When we sought to create a line of supplement drinks with off-the-charts effectiveness, we were warned that making these formulas actually taste good would be impossible. But when you think about the beverages adults love most—coffee, red wine, IPA beer—they aren’t loved for being sweet. Their complex, interesting flavor profiles include hints of bitterness, earthiness, acidity, and aromatics that work together to delight the palate. So instead of using artificial flavors or sweeteners to mask the particular notes of plant ingredients, we use those flavors as a source of interest and complexity. In a process that is part art and part science, we’ve identified just the right flavors to complement each active ingredient. The response has been phenomenal.”

Color is key here, too. GNT relies heavily on its Innovation team to come up with authentic, natural, plant-based colors—an essential component of product development. "Our Culinary Innovation team plays a pivotal role in inspiring our customers and the industry with the plant-forward movement, showcasing the significant role of plant-based colors," shares Lee. "One of our innovative dishes, parsnip pastrami, exemplifies this by mimicking the color and taste of traditional pastrami through smoking and infusing the parsnip with fruit and vegetable colors. At GNT, we pride ourselves on creating all our EXBERRY colors from non-GMO fruit, vegetables, and plants, emphasizing natural, sustainable, plant-based solutions. As the demand for convenient formats evolves within the plant-based industry, we offer manufacturers a diverse range of natural color solutions. These solutions not only mimic meat and dairy alternatives with colors derived from ingredients like carrots and blueberries but also support innovative new products that highlight superfoods as key ingredients, such as beetroot, turmeric, and spirulina." 

Roquette utilizes its scientific resources to determine what's on the horizon based on unlocking the full potential of not only readily available ingredients, but the potential of the future ingredients as well. "We consider fava beans a game-changing plant-based protein—part of the pulse family, they have long been valued for their properties in textured applications but focus has now shifted to their ability to deliver high protein levels and leverage sensory attributes," explains Pierre Lesot. "Through extensive research and development, we have been able to unlock the immense potential of fava beans in protein fortification, culminating in the launch of NUTRALYS Fava S900M—our first fava bean isolate, earlier this year. Similarly, we’ve recently added a new botanical source—tapioca—to our CLEARAM cook-up starch offering. The CLEARAM hydroxypropylated botanical tapioca starch range comprises four grades and was specifically developed to address unmet texture needs of food manufacturers. Formulated to enhance viscosity, consistency and elasticity in various food applications, from sauces, dairy desserts and yogurt to bakery fillings, these modified starches help to ensure distinct and desirable sensory experiences for consumers, all while meeting demand for label-friendly and free-from options."

Products like ADM's neutral-tasting soy protein isolate (a 90% protein concentration with added functionality and mouthfeel consistency) cater to plant-forward consumers looking for plant protein sources with added health benefits. According to ADM, its pea proteins offer quality nutrition and a clean taste that makes them ideal for use with vegan shakes, bars, and other applications to support muscle performance and recovery. Also serving the active set: Optimum Nutrition offers consumers a vegan friendly, plant protein option packed with 24g of plant protein and 20 amino acids including all 9 essential amino acids, all from a selective blend of pea, rice, and fava beans. 

For those looking for plant-based omegas: “Ahiflower oil has been shown to form omega-3 DHA in plasma and key tissues (liver, brain) in mice with comparable turnover efficiency to pure fish-based DHA,” Greg Cumberford, VP of Science & Regulatory, Natures Crops International, told WholeFoods Magazine. “This challenges the rubric that all terrestrially farmed plant-based omega-3 sources convert ‘inefficiently’ to DHA in mammals. It builds on established human dietary science showing that Ahiflower oil boosts circulating omega-3 EPA levels far more efficiently than flaxseed oil. This efficient EPA/DHA metabolism with Ahiflower oil occurs because of its richest omega-3 SDA (stearidonic acid) content.” This University of Toronto research has been accepted in the journal Molecular and Cell Biology of Lipids.

Cumberford also points to a pre-arthritic mouse trial in which Ahiflower oil was shown to be as effective as fish oil for its anti-inflammatory effects in joints and mobility support. And findings in the American Journal of Clinical Nutrition demonstrated that an Ahiflower-based emulsion used in total parenteral nutrition in mice performed better than a conventional fish oil emulsion, achieving overall superior immuno-nutrition through gut microbiome balancing, insulin sensitizing, and systemic anti-inflammatory response benefits. Add in published human clinical research showing Ahiflower oil boosts anti-inflammatory IL-10 in immune cells. He notes: “Ahiflower oil is exerting a host of measurable anti-inflammatory metabolic responses that are different from (and complementary to) dietary fish or algal EPA/DHA sources…Along with Ahiflower oil’s de-risked supply chain, ready availability, and guaranteed pricing, these health science findings support brands adopting Ahiflower+DHA oil as a functionally complete and balanced ‘multi-omega’ ingredient from deeply sustainable sources.”

Another option: KD Nutra is partnering with Nuseed to amplify its offerings of plant-based long-chain omega-3 ingredients. Both companies will look to offer consumers new sources of omega-3 beyond marine sources. "Nufarm’s innovation in plant-based nutrition together with KD Nutra’s technology platform and leadership in omega-3 will allow us to bring unique and renewable solutions to the industry," said Kimberly Smith, CEO of KD Nutra.

Sometimes all the innovation needed to create the next big thing is to look where others have not. The founders of Fun-Gal focused on "the less obvious choice" to develop their products. "When my co-founder Mike Casali and I founded Fun-Gal Snacks, our vision was to ultimately develop other innovative snacks and products focused on 'underloved' vegetables," says Yang. "Like mushrooms, there are plenty of other vegetables that are waiting for their time in the culinary limelight and for whatever reason, haven't appeared en masse as of yet in the grocery store snack aisle. It's been encouraging to see the continued innovation across the board in terms of other brands and products that champion previously overlooked plant-based ingredients, whether it's mushrooms or kelp." 

Lee believes the future lies in creating convenient products for consumers. "In the plant-based space, we anticipate increased offerings of convenience foods like non-dairy mac and cheese, plant-based ready meals, and plant-forward versions of familiar recipes to cater to busy consumers. Plant-based colors will play a crucial role in elevating and telling the story of these products by either mimicking traditional counterparts or celebrating nature's vibrant hues in innovative ways. As consumers continue to prefer whole, minimally processed foods for health and sustainability benefits, the plant-forward trend will strengthen as part of a broader movement towards incorporating more plant-based foods into everyday diets. EXBERRY is committed to supporting and collaborating with brands, innovators, industry chefs, and disruptors to drive this plant forward."

Not only does collaboration drive innovation forward, but it can also lead to industry problem solving. "Consumer acceptance remains a significant barrier to widespread adoption of plant-based products, with previous poor experiences or assumptions about the quality of plant-based food and beverages impacting consumer receptiveness to trying new eating experiences," shares Pierre Lesot. "For this to change, brands will need to play a significant role in challenging this perception and developing consumer curiosity of plant-based foods – this is paramount for future expansion of the category. Collaboration is a huge part of overcoming this, and as accelerators and facilitators of innovation, we can help in surmounting this hurdle through practical and hands-on formulation and reformulation support. We see the plant-based market continuing to grow and evolve, driven by increasing consumer awareness of the health and environmental benefits of plant-based diets. We expect to see continued innovation in plant-based protein sources, particularly in the context of meat, eggs, seafood, and dairy alternatives. Meanwhile, fiber for gut health is an intriguing area of focus, as new science looks to demonstrate its benefits beyond gut health, including the gut-brain axis and immunity."

Fahlin thinks the sector will grow well beyond its current offerings. "We see plant-based growing beyond meat and dairy alternatives, making inroads into everything from specialized nutrition and snacks to beverages and convenience meals. Across the food and beverage landscape, brands are looking to add incremental benefits to their products. Plant proteins represent one of the preferred ways of delivering that added value."

While the industry landscape has seen drastic changes over the last few years, Yang thinks there is still room for more. "I'm sure we'll continue to see continued innovation and consumer shifts toward plant-based foods and better-for-you foods, in general. There has already been a significant shift in the past 10, 20 years, which will inevitably continue in the coming 10, 20 years. I recently balked when I saw how much sugar is still in 'regular' soda, versus some of the better-for-you competitors that have more recently hit the market, and I can't be the only one these days to react as such!"

More to Know on Plant-Based

The Latest in Plant-Based Personal Care

Trendspotter Nancy Trent, a globe-trotting trend watcher and the founder and president of Trent & Company, has been covering the HABA scene for WholeFoods, and discovered a wealth of cool brands at the International Spa Association's ISPA 2024 trade show. Among them:

Nama Fiji is a plant-based skincare range of cellular hydration made with wild Nama “sea grapes” and other naturally derived ingredients from the Pacific to provide essential nutrition and beautiful skin. Nama is a powerhouse ingredient that provides intercellular and intracellular hydration, with naturally occurring trace minerals and antioxidants for the skin. The brand is on a mission to be a sustainable beauty brand that is building a socially responsible enterprise for our planet's future. They’re also focused on improving the livelihood of rural women & communities in Fiji through training, employment and Nama harvesting in the Fijian villages of the Yasawa Islands.  

Scens is an organic and vegan skincare line featuring pure, natural, powerful active ingredients extracted from plants and flowers. The cosmetics exfoliate, hydrate, and regenerate skin, presented in a luxurious and eco-friendly manner.

Moor Spa offers a comprehensive line of skincare and bodycare products containing Austrian Moor, a nutrient-rich plant complex that enhances skin’s health and appearance. By combining the revitalizing, purifying Moor complex with plant-derived cosmeceuticals, herbal extracts and pure essential oils, the scientists at Moor Spa have developed safe and effective spa products that are free of synthetic preservatives, parabens, sulfates, artificial colors, synthetic fragrances and petroleum-derived chemicals.  

Read Trent's 10 Transformative Health and Wellness Trends Spotted at ISPA 2024 for more!