A new report by the investor network FAIRR has found that many global food companies are not effectively meeting the demand for plant-based proteins, limiting the category's growth. The report reveals that only a small percentage of these companies have nutrition expertise at the board level, despite recognizing health and wellness as a material issue for their businesses. Additionally, most companies have not acknowledged the potential benefits of substituting animal ingredients with plant-based options.

The report recommends that companies focus on plant-based wholefood proteins rather than processed options to cater to consumer preferences. It also highlights the importance of understanding market demand and investing in product innovation to overcome barriers such as taste and texture. By embracing plant-based proteins, companies can tap into a significant market growth opportunity and build a more resilient product portfolio in response to changing consumer preferences and potential climate risks.