3 Top Vegan Stocks to Invest in for World Vegan Day

3 Top Vegan Stocks to Invest in for World Vegan Day

To celebrate World Vegan Day, we’ve put together a list of three promising vegan companies that investors can really sink their teeth into

When it comes to the food industry, one thing is certain: there’s always going to be a market. Everyone has to eat after all, but how and what we eat is constantly changing. As the world becomes more aware of the potential negative effects of foods like dairy or meat, we have had to develop alternatives to fill our plates with. 

A push towards conservationism and heightened awareness around how exactly food gets from the farm to our plate has also sparked the calls for change. Consumers are now looking for ethical, but still tasty, alternatives to meat products. 

Plant-based products have been one of the real success stories to arise from this culinary paradigm shift. Veganism is growing steadily across the world, with plant-based foods now a $7 billion market in the U.S. alone. This has allowed companies to grow rapidly along with this burgeoning market, and some of them could be potentially very profitable for investors.

Beyond Meat

Beyond Meat (NASDAQ: BYND) was founded in 2009 and became one of the first major players in the plant-based food game. It has developed some exceptionally lucrative partnerships, with companies such as Walmart and Target stocking its products. It also linked up with fast-food giant McDonald’s to provide the chain’s first-ever vegan burger. 

Share prices certainly took a hit through the COVID-19 pandemic, but investors should be optimistic that the company can bounce back as the world reopens and demand for vegan products continues to rise.

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Tattooed Chef

Tattooed Chef (NASDAQ: TTCF) went public in 2020 and offers “plant-based foods for everyone.” The company looks to tap into the demand for ethical, sustainable, ready-to-eat products. Promising financial reports this year show that the company has increased Q2 revenue by 45% year-over-year (YoY), and it continues to reinvest in itself to fuel future growth. High insider ownership is another good sign, with the CEO and his family owning roughly half of the business. Tattooed Chef is another company suffering following the pandemic, but investors will be hopeful of a rally in the coming months.

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U.S. Vegan Climate ETF

Exchange-traded funds (ETFs) are often seen as a less risky way to invest than simply investing in individual companies. They allow you to invest in a specific industry or sector while maintaining a degree of stock diversification. 

The U.S. Vegan Climate ETF (NYSE: VEGN) is an ETF that specifically tracks large U.S. companies that are animal friendly, humane, and good for the environment. Veganism is more than a dietary trend, it’s a lifestyle that promotes sustainability and choices that help our environment. Investing in an ETF such as this offers you a chance to ensure that your investments align with your personal views. 

According to the fund, it intends to “address the concerns of vegans, animal lovers, and environmentalists by avoiding investments in companies whose activities directly contribute to animal suffering, destruction of the natural environment and climate change.”

To find other worthy investments, check out MyWallSt’s shortlist of market-beating stocks. Click here to get free access.

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