Unilever, Tesco, Nestlé Ranked Top On Meat Alternatives: Report

Unilever, Tesco and Nestlé are among the best prepared to capitalise on the trend for plant-based meat substitutes, according to a report from an investor group managing $5 trillion in assets.

The report by the Farm Animal Investment Risk and Return (FAIRR) coalition showed 25 major retailers and manufacturers were developing strategies for sustainable protein products, recognising the risk of a strategy reliant on animal protein.

87% of retailers were increasing their own-brand plant-based products, while 64% of the 25 firms that FAIRR engaged with had referred to ‘vegan’ and ‘plant-based’ in their annual reports.

The alternative protein market is now valued at $19.5 billion and is expected to capture 10% of global meat market, the report said, citing research from Barclays and JPMorgan.

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