The alternative protein market will see its value rocket from $19.5bn (£15.6bn) to $100bn within 15 years, an investor network with over $5trn in assets under management has predicted.
Schroders and Boston Common Asset Management are among those supporting the FAIRR Initiative, which also forecasts alternative proteins to capture 10% of the meat market by 2035.
In a report published today, the investors warned that food multinationals must manage the risks of relying too heavily on factory-farmed meat, fish and dairy as protein demand grows.
The report provides a briefing on the long-term sustainability risks associated with livestock supply chains, which account for 14.5% of global greenhouse gases.
Schroders' head of engagement, Elly Irving, said there is "clear shift" among consumers who are increasingly concerned by the environmental impacts of the food they eat.
"Companies that don't adapt risk falling behind and missing the growing market opportunity that is emerging," she continued.
"FAIRR's research has been helping us to identify leaders and laggards. We will continue to engage with companies to push them to ensure their practices are sustainable."
Support for FAIRR's 'sustainable protein engagement' with food companies has grow from 36 investors to 72 since 2016, with their combined assets increasing from $1.25trn to $5.3trn.
And its latest report shows that more and more firms are looking to substitutes for animal-based foods such as 'Impossible Whopper' burgers and plant-based milks.
After studying 25 of the world's largest food multinationals, FAIRR found that 87% of retailers have increased their offerings of own-brand plant-based products.
Unilever, Tesco, Nestle, M&S, Conagra have all developed a proactive strategy to build a sustainable protein portfolio, recognising the risks of a high dependence on animal-based ingredients.
However, zero companies have formal, publicly reported metrics in place to track and report on their protein exposure.
"As alternative proteins go mainstream, investors want more food retailers and manufacturers to capitalise on the opportunity including improving branding, merchandising and tracking of alternative protein products to expand their appeal across a broad swathe of consumers," FAIRR founder, Jeremy Coller, said.