3 Stocks To Buy To Get In On The Plant-Based Revolution

Plant-based products are on the up with more people than ever ditching meat and dairy, here’s what stocks to buy to get in on the trend.

The food industry is constantly evolving and the next big thing to disrupt the market is plant-based products. After countless health reports and documentaries showed the negative health effects of eating meat and dairy, shoppers have turned towards healthier alternatives. 

Consumers have cited increased risks of cancers and other diseases associated with consuming animal products, environmentalism beliefs, and activism towards animal cruelty as the main drivers pushing them to eat plant-based. 

Here are some quick facts to show the growing popularity of vegan food products:

  • The plant-based market is expected to reach $74.2 billion globally by 2027.
  • A survey by Sprouts Farmers Market found that 54% of U.S. 24-39 year old’s identified as flexitarian and said they are incorporating more plant-based foods into their diets permanently.  
  • Right now, there are about 9.7 million people in the U.S. following a vegetarian-based diet, and 1 million of them are vegan. 

The growth of plant-based products is more like a revolution than a simple trend. Veganism is a lifestyle choice because those that identify as one are not just changing the way they eat, but also what clothes they buy, the cosmetics they use, and many other factors that don’t coincide with their personal values. 

Food being the first thing that people change has resulted in plant-based products exploding. So what vegan-approved stocks should investors consider? 

Beyond Meat

Beyond Meat (NASDAQ: BYND) is one of the most popular, and most sold, plant-based food stocks. The company has landed some impressive partnerships with Costco, McDonald’s, PepsiCo, and Yum! Brands’. Costco, for example, made up 13% of the company’s total revenue of $406.8 million in 2020. 

With these deals, Beyond Meat has been very successful in getting its products into supermarkets, helping push its revenue up 37% in 2020. 

COVID-19 has hurt the business, with foodservice sales dropping 26% in the first quarter and 3,000 of its foodservice locations closing over the course of the pandemic.  

Read more about our opinion on Beyond Meat. 

Tattooed Chef

Tattooed Chef (NASDAQ: TTCF) is fast becoming one of Beyond Meat’s main competitors. Just like its rival, it has also snapped up a few exciting deals with Walmart, Target, and Costco. 

In the first quarter, Tattooed Chef’s revenue increased to $52.7 million, up 59% year-over-year (YoY). Potential investors should be most interested in Tattooed Chef’s latest acquisition of New Mexico Food Distributors and Karsten Tortilla Factory. With this deal, the healthy food firm will be able to address the $1 billion Mexican frozen food market. 

Tattooed Chef recently stated in a press release: 

Our recent product launches in retail have been very successful and with the addition of our new manufacturing capabilities with the Foods of New Mexico acquisition, we have a pipeline of over 250 plant-based innovation ideas including ambient products and snacks.”

Read our blog on the bull and bear case for Tattooed Chef stock.


Oatly (NASDAQ: OTLY) is capitalizing on the vegan milk trend. As more consumers realize the negative health impacts of drinking dairy milk, and an estimated 30 million U.S. citizens being lactose intolerant, the company has soared in popularity as a market leader. 

The Swedish-based company made its market debut in May and shares opened 30% above their initial public offering price of $17, valuing Oatly at roughly $13 billion, around 29x 2020 revenue. Its successful debut proved there’s a massive appetite for alternative food companies on Wall Street. 

New competitors, such as Swiss giant Nestle, will increase the pressure on Oatly to up its marketing and sales budget. The company’s operating loss grew to $28.5 million in Q1, up from $5 million in the year prior. However, Oatly does have some big names backing it, including Oprah Winfrey, Natalie Portman, and Jay-Z, who have boosted the firm’s brand reputation.

For more on the stock, read our article: Is Oatly A Good Investment?

MyWallSt operates a full disclosure policy. MyWallSt staff currently holds long positions in companies mentioned above. Read our full disclosure policy here