Global investment in non-animal-based proteins has doubled from last year and has grown tenfold since 2016, according to a report from a nonprofit monitor.
The FAIRR (Farm Animal Investment Risk and Return) initiative polls large food processors and retailers around the world to determine the progress they’ve made in developing and providing plant-based and other alternative proteins. It is part of the philanthropic foundation run by British investor Jeremy Coller.
According to the FAIRR report, alternative proteins have drawn investments of more than $1.1 billion so far this year, compared to $534 million last year.
FAIRR named Unilever as the food processor making the most progress toward protein sources with lower environmental impacts than standard animal products. Hershey, Kerry Group and Saputo were also cited as having made significant progress.
On the other hand, Kraft Heinz saw its score with FAIRR drop because of slight alternative protein product development, even though its Boca Burger was one of the first major products in that space.
“However, no company has set time-bound, board-endorsed commitments to transition multiple categories and/or brands towards low-carbon and less resource-intensive ingredients and products,” the report’s summary states.
