Summary: As plant-based diets become more prevalent, more and more companies are starting to turn veganism into a business, both by promoting it and directly participating in the production and distribution of plant-based products. In this guide, we’re going over the 5 best vegan stocks to check out in 2024 and explaining how you can invest in them through an online stock trading platform such as eToro.
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What are vegan stocks?
The Global Vegan Food Market Size is expected to reach a market size of $49.6 Billion by 2032, according to Acumen Research and Consulting. There are many reasons for such exponential growth, but the principal ones are growing environmental consciousness and healthy diet trends. Naturally, as the market grows, the number of interested investors follows suit, attracted by the increasing number of promising investment opportunities.
-How to invest in lab grown meat stocks;
-How to invest in plant based meat stocks;
-3 vegan ETFs to invest in 2024.
5 vegan stocks to watch for in 2024
As mentioned, the market is growing at a steady pace, so you’ll have a lot of attractive options to pick from in 2024. Some of them include:
- Beyond Meat (NASDAQ: BYND);
- Oatly (NASDAQ: OTLY);
- Calavo Growers (NASDAQ: CVGW);
- Local Bounti (NYSE: LOCL);
- Tattooed Chef (NASDAQ: TTCF).
Let’s explore each of them in more detail.
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
1. Beyond Meat (BYND)
Beyond Meat is a vegan industry leader, distributing its products to more than 130,000 stores and food services in almost 100 countries, where it remains known for its plant-based chicken tender and veggie Beyond Burgers. In addition to its robust distribution line, Beyond Meat spends a lot of resources on researching and developing new plant-based diet solutions, which solidifies its position at the top of the market.
Beyond Meat stock price today
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2. Oatly (OTLY)
Oatly has been around since the ‘90s, although it went public fairly recently (in 2021). Focused on oat-based dairy products — milk, ice cream, yogurt, drinks, etc. — the Swedish brand is in a strong position to profit from the increasing demand for oat-based products. Indeed, its products are available in around 65,000 stores and just as many cafés around the world, and since Oatly is now mostly focused on marketing, we can expect its products to find their way into even more establishments.
Oatly stock price today
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3. Calavo Growers (CVGW)
Calavo Growers is all about avocados, a staple of most vegan diets and the company’s bread and butter for the past century. While a veteran in its niche, Calavo still faces fierce competition in the shape of other commodity-focused companies and has to deal with all the expected fluctuations in the agricultural market. Namely, fruit prices are somewhat volatile and sensitive to geopolitical and weather conditions. Nonetheless, if you are prepared to deal with challenges associated with commodity investments and wish to target the avocado niche specifically, Calavo is a no-brainer choice.
Calavo Growers stock price today
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4. Local Bounti (LOCL)
Local Bounti focuses primarily on lettuce and herbs grown with the help of vertical and hydroponic greenhouse farming, an environmentally more sustainable method. While a relatively new company on the stock exchange, Local Bounti shows quite some promise, having attracted investor attention and divulged its hopes for $462 million in revenue by the end of 2024.
Local Bounti stock price today
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5. Tattooed Chef (TTCFQ)
Tattooed Chef has made quite a name for itself by specializing in creating plant-based and frozen food products made using high-quality, natural ingredients inspired by traditional cuisines around the world. Founded in 2017, the company already enjoys a market capitalization of just $1.4 billion, and its revenue is slowly increasing, so the Chef could become a potential leader in the sector.
Tattooed Chef stock price today
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Where to buy vegan stocks
Since investor interest in vegan stocks has skyrocketed, most vegan stocks are now available on any major investment platform. Our go-to broker is eToro, a trading platform with over 30 million users and a host of nifty trading features, such as:
- Commission-free stock trading;
- Access to over 2,000 stocks from 17 different exchanges;
- The option to purchase fractional shares;
- Charting tools;
- A user-friendly platform that simplifies the trading experience.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
To invest in vegan stocks on our list or any of their alternatives that might have caught your attention, simply:
- Step 1: Choose a broker;
- Step 2: Register and fund your account;
- Step 3: Place your order;
- Step 4: Monitor your investment to ensure its performance aligns with your investment goals.
Pros and cons of investing in vegan stocks
Pros
- Growth potential: The plant-based market is growing exponentially as more and more people switch to vegan diets and become conscious of environmental and health issues;
- It’s trendy: As more people shift towards vegan diets, a lot of companies in the sector may see increased demand for their products;
- Ethical investing: Socially conscious investors prefer supporting companies that promote environmentally friendly business models and preach against animal cruelty. Thus, investing in vegan stocks can help you generate profit while adhering to your ethical principles;
- Innovation: The vegan industry thrives on innovation, so companies researching more affordable plant-based products can position themselves as market leaders;
- Diversification: Investing in vegan stocks can be a solid way to diversify.
Cons
- Market volatility: While vegan diets are increasingly popular, there is no saying how long that is going to be the case. Also, most companies are in constant competition with one another;
- Narrow niche: Since vegan companies operate in a somewhat niche sector, it might be challenging to find some that align with your investment goals;
- Regulatory risks: Food industries of any kind are subject to various regulations, so failure to comply can result in significant losses.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about vegan stocks
What are vegan stocks?
Vegan stocks are shares in companies that produce, develop, or promote plant-based foods and products that align with vegan principles.
Why invest in vegan stocks?
People mostly invest in vegan stocks due to the growing demand for plant-based products. That is, the vegan industry is showing strong growth potential, and investors wish to seize new opportunities in this burgeoning market.
What are the best vegan stocks to buy?
Some of the best vegan stocks to buy include Beyond Meat (NASDAQ: BYND), Oatly (NASDAQ: OTLY), Calavo Growers (NASDAQ: CVGW), Local Bounti (NYSE: LOCL), and Tattooed Chef (NASDAQ: TTCF).
Are vegan stocks risky?
All investments are risky. Some challenges involved with vegan stocks include market volatility, competition within the sector, sensitivity to consumer trends, regulatory risks, etc.
How to invest in vegan stocks?
To invest in vegan stocks, open an account with a brokerage firm that offers access to companies focused on plant-based or sustainable industries. Once your account is set up, you can search for and buy shares in vegan stocks.
Where to buy vegan stocks?
To invest in vegan stocks, you can open a trading account with an online stock trading platform such as eToro.
