Home NEWS Science Whole Foods and Costco under fire over lack of engagement with investors on meat alternatives

Whole Foods and Costco under fire over lack of engagement with investors on meat alternatives

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Whole Foods and Costco did not respond to requests for comment. 

Investors are not only concerned about the risks of food companies relying on animal proteins but they also want to know how firms are capitalising on demand for alternative proteins.

Mr Coller said that the global meat industry had been unable “to manage the environmental, public health and animal welfare challenges that the world’s current demand for animal protein creates”, which he said was “generating remarkable opportunities for food companies and their shareholders”.

Health concerns are also leading many consumers to demand alternatives to animal proteins, as more people opt for “flexitarian” diets, where they mostly eat plant-based foods and occasionally eat meat.

In the US, 39pc of Americans are actively trying to incorporate more plant-based foods into their diets, and millennials are driving this shift, with 30pc eating meat alternatives every day, while 50pc eat meat alternatives a few times a week, the report said.

In the UK roughly 2pc of the population, or 1.2 million people, are vegetarian, while vegans make up less than 1pc of the population, according to the Government’s National Diet and Nutrition Survey.

FAIRR said: “It is increasingly likely that governments could use some form of taxation to combat meat’s negative contributions to climate change and health epidemics such as obesity and cancer.”

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