Plant-Based Food Watch — 2026-10-23

Top Story

The plant-based food market is undergoing a structural realignment, moving away from the "meat mimicry" era toward a broader definition of plant-based eating. Recent industry analysis highlights that meat and seafood alternatives now account for only 4% of the overall plant-based food market by value sales. In contrast, dairy alternatives hold a 21% share, while the majority of the market is increasingly dominated by whole foods and traditional plant-based options. This shift suggests that consumer demand is stabilizing around familiar formats rather than novel, highly processed substitutes.

This trend is further evidenced by the "shifting demand for alternative dairy," where some plant-based products are losing momentum as consumers prioritize simplicity and taste over complex ingredient lists. The market is not disappearing, but it is evolving, with a clear preference for products that offer functional benefits without the "uncanny valley" of trying to replicate animal products too closely.

On the policy front, the announcement that Earth Day 2027 will feature "Food for Our Planet" as its theme marks a significant moment for the industry. The Washington, D.C.-based organization EARTHDAY.ORG has formally placed plant-based diets and ultra-processed food labels on the global agenda. This move could accelerate regulatory scrutiny on labeling, potentially impacting how alternative proteins are marketed to the general public.

New Products & Launches

New Food Product Launches — Carvel, Trubar, Oatly, and Air Canada

• Category: Dairy alternative / Aviation catering
• What's New: Multiple major brands including Carvel, Trubar, and Oatly have launched new food products, alongside new offerings from Air Canada.
• Where to Find: Retail and aviation sectors.
• Why It Matters: Continued product diversification indicates that mainstream brands are still investing in plant-based innovation despite market headwinds.

Mö Foods Vegan Cheese Awards — Mö Foods

• Category: Dairy alternative
• What's New: Finnish oat-based dairy company Mö Foods received two Vegan Cheese Awards, including "Best No-Goat."
• Where to Find: International recognition; products available in European retail.
• Why It Matters: Recognition of oat-based cheeses highlights the maturation of non-dairy fermentation technologies.

Ghent's Plant-Based Paradise — Ghent City Initiative

• Category: Consumer Trend / City-wide adoption
• What's New: Ghent, Belgium, has seen a massive surge in flexitarianism, with 83% of the population describing themselves as flexitarian in 2026, up from 13% in 2014.
• Where to Find: Ghent, Belgium.
• Why It Matters: This serves as a case study for how municipal policy and cultural shifts can drive mass adoption of plant-based eating.

Market & Business Moves

• Beyond Meat Q3 Earnings: Beyond Meat, Inc. (NASDAQ: BYND) announced it will report its Third Quarter 2026 financial results on November 4, 2026. Investors are watching closely for signs of stabilization in the alternative meat sector.
• Upside Foods Recognition: Uma Valeti, co-founder and CEO of Upside Foods, was named one of Goldman Sachs’s "Most Exceptional Entrepreneurs of 2026" at its Builders and Innovators Summit. This highlights continued investor interest in cultivated meat despite broader sector challenges.
• Texturization Systems Growth: The global market for plant-based meat and dairy texturization systems is gaining momentum as manufacturers invest in advanced ingredient systems to improve texture and stability. This B2B sector is growing as brands focus on product quality.

Trend Spotlight

The Rise of "Flexitarian" Cities and Policy-Driven Adoption

A key trend emerging from recent data is the role of municipal and regional policy in driving plant-based adoption. The Guardian’s coverage of Ghent, Belgium, illustrates how targeted initiatives like "Veggie Thursdays" can shift public behavior on a massive scale. In 2014, only 13% of Ghent's population identified as flexitarian; by 2026, that number has jumped to 83%. This suggests that the future of plant-based growth may lie less in radical product innovation and more in cultural and institutional integration.

This trend aligns with the broader market shift toward whole foods. As consumers prioritize "simplicity and taste," the demand for highly processed meat analogs is cooling, while traditional plant-based options thrive. The industry is moving from a "conversion" model (trying to convince meat-eaters to stop eating meat) to an "inclusion" model, where plant-based foods are simply part of a diverse, flexitarian diet.

Consumer & Science Corner

• Plant-Based Ice Cream Growth: The global plant-based ice cream market is projected to reach USD 7.3 billion by 2036, growing at a 9.8% CAGR. Demand is driven by consumers seeking dairy-free desserts that combine indulgent flavors with creamy textures.
• Vegan Pet Food Expansion: The vegan dog food market is projected to grow from USD 5.2 billion in 2025 to USD 14.9 billion by 2036, with a 10.1% CAGR. This indicates that plant-based ethics are extending beyond human consumption to pet care.
• European Dessert Market: The Europe vegan dessert market is expected to reach US$ 2.6 billion by 2033, driven by rising demand for plant-based ice creams, cakes, and confectionery.

What to Watch Next

• Beyond Meat Q3 Results: Investors will scrutinize Beyond Meat's November 4 earnings report for clues on whether the company can stabilize its retail partnerships and manufacturing costs.
• Earth Day 2027 Campaign Rollout: Monitor how EARTHDAY.ORG's "Food for Our Planet" theme influences regulatory discussions around ultra-processed food labels and plant-based diet promotion in the coming months.
• Texturization Tech Partnerships: Watch for new B2B partnerships between ingredient suppliers and major plant-based brands as the industry focuses on improving texture and mouthfeel to combat consumer fatigue with current product standards.