Plant-based food (PBF) is on the rise as an alternative for animal-based food. Europe is leading in the market size compared with the global market. However, the high failure rate for new food products is challenging the success of new PBF in the market. This paper aims to unravel the key success factors (KSFs) from existing brands, contributing to the knowledge on how to achieve success in PBF market. Two subsequent studies employing online surveys were included, which targeted food expert participants. Study 1 focused on the collection of KSFs related to PBF brands utilizing the card sorting approach. Study 2 employed cluster analysis to further investigate the KSFs among different PBF brands. The findings identified six clusters of KSFs under the external and internal factors supporting the success of the PBF brands. Two (‘Consumer’ and ‘Trend’) and four (‘Ideology’, ‘Marketing strategy’, ‘Innovation management’, and ‘Management structure’) clusters were assigned into external and internal factors, respectively. Furthermore, cluster analysis identified four brand clusters: ‘Mature’, ‘Targeted’, ‘Newcomer’, and ‘Established but diversifying’ clusters. Each brand cluster utilized different KSFs into their strategies; however, both external and internal factors were applied, suggesting that there is no one-size-fits-all KSF to succeed in the market.