If you use Lightroom to process RAW files and you wonder why the colors might be a bit off, you think “the JPGs look better,” or differ from your preferences, there's a solution for that.
By default, Lightroom uses Adobe Color profiles, which are Adobe's interpretation of the RAW image data using their own color science.
While Adobe has created their own profiles for landscape, portrait, neutral, and standard just like the defaults by camera manufacturers, these can differ more than you'd think, in both subtle and dramatic ways.
Adobe also offers “camera matching” color profiles. While they aren't exactly the same as those of the original manufacturers, they are generally much closer than Adobe's own profiles in matching the overall tone and color. Here's a look at some of the differences and benefits of using camera matching color profiles and how you can apply them to your own images.

Camera Matching Color Profiles in Lightroom
Profiles are selected in the Basic editing pane of Adobe Lightroom as a dropdown. Adobe Color is the default for Lightroom.
To select “Browse” at the bottom of the dropdown. Then, navigate to the camera matching section. Here, you'll see multiple options for the basic color profiles: landscape, neutral, portrait, standard, and so forth.

For current cameras, these should match all of the camera's color profiles. While not perfectly identical, these profiles will be a lot closer to the native color profiles of your camera in most instances. Adobe has done a good job at matching the overall color and look.
In most cases, you may still get better results using the original manufacturer RAW processing software (after all, who should know the RAW data better than the OEM?), but for most of us, Adobe's camera matching profiles will be close enough.
Default Import Preferences
One of the first things I do when setting up a new camera in Lightroom is to import images and then change the preset preferences. Simply change the RAW defaults from “Adobe Default” to “Camera Settings.”

Differences in Color Profiles
Color profiles can have subtle but noticeable impacts on image rendering. A profile will affect how colors and tones are rendered on a fundamental level based on the intent of the engineering. Between camera brands, we have different renditions of what “standard” or “portrait” profiles should be, so it's no surprise that Adobe also has their own interpretation of color science.

The overall tone of these images feels similar on first glance. Both images have identical basic RAW adjustments, the only difference being the color profile used.
Overall, the biggest differences that stand out to me are the skin tones and the sky. The Adobe color version feels more clinical, with less warmth in the skin tones. The sky shows less apparent vibrancy as well, with much flatter and neutral feeling highlights.

Here again, we see similar differences. The skin tones of the Adobe profile feel more grey to me, lacking the same warmth of the camera matching Nikon profile. Another notable difference is in the rendering of green in the foliage behind the subjects, which feels more neutral in the Adobe profile.
Beyond skin tones, where I personally see a lot of differences is in how light sources and highlights are rendered in concert photography. Note the stage lights behind the subject and the difference in how Adobe Color renders the highlight curve vs the camera matching.

Adobe's standard profile has a different look in the highlight rolloff of the blue/white highlights. Similarly to the sky in the first example, the highlights present as more neutral. But by contrast, the Adobe profile image shows more contrast, while the camera matching profile appears flatter with regard to these highlights.
In the face of the subject here in this third example, the camera matching profile does a better job at tone separation. I feel the Adobe example feels more muddy by contrast. Of course this is concert lighting, so it's more extreme than most photographers will see in their subjects, but a good point of differentiation nonetheless.
Summary
It's worth noting that options are good. If you prefer the camera matching profile, it's a great option to have. If you love the default Adobe look, there's no reason to switch.
But if you haven't been completely satisfied with how the colors look in your RAW images, particularly when compared to what you see in-camera or SOOC, the camera matching color profiles may just be the solution you need for the colors you prefer.
There are plenty of instances where you may prefer camera matching profiles, but Adobe color works perfectly for a certain look, lighting scenario or tones of a subject.