Top 5 Vegan Stocks to Buy Now (Nov-2021)
The vegan trend has been on the rise in recent years, in just a short 7 years from 2014 to 2021 the number of self-reporting vegans in the USA has grew by over 500%. This is because it’s easier than ever to live healthily while avoiding animal products — including meat, eggs and dairy.
I’m a vegan for nearly a decade now and an investor for just as long — these are my top five vegan stocks to buy now; to not bury the lead they’re Beyond Meat ($BYND), Plantx Life Inc ($VEGA), Conagra Brands Inc ($CAG), Oatly ($OTLY) and Tattooed Chef Inc ($TTCF). Let me explain why these are my picks.
#1.) Beyond Meat ($BYND)
It’s the most obvious vegan-sector play in the market currently, and if you just want exposure to the growing market they’re an excellent choice and are clearly going nowhere but up — but I wouldn’t say they’re extremely undervalued like some other stocks on this list.
If I’m being honest here Beyond Meat isn’t my favourite plant-based meat to eat, but dang are they good in marketing/connections, scaling, and business — they’ve got placements in practically every supermarket across USA and Canada, and have won many fast-food and restaurant menu slots, making their business far more diversified in revenue streams than most other vegan-food companies, as it’s not just products to a consumer at a grocery store, but also to restaurants and fast-food chains etc.
#2.) Plantx Life Inc ($VEGA)
Vegan-alternatives market has been massively underserved by investors, if you look at the numbers they’re on fire, and luckily there’s a company like Plantx on hand to make them more readily available to the masses — PlantX contrary to its ticker ($VEGA) does NOT actually have anything to do with the popular vegan protein powder brand Vega.
Instead PlantX ($VEGA) operates an e-commerce site where they sell vegan alternatives and offer food-delivery services, grocery services, and a variety of products vegans often struggle to find elsewhere, such as vegan cat and dog food (yes it’s just as healthy, it’s been tested) — there’s also some rumours that they may launch their own vegan food products in the future.
Ultimately it’s a speculative buy, but it’s an extremely small publicly traded company in a dangerous industry (food e-commerce), so the risks are high — but so are the rewards if they succeed and get adoption on a larger scale.
#3.) Conagra Brands Inc ($CAG)
My second favourite vegan stock here — Conagra Brands ($CAG), while they are not 100% vegan like the above companies, and do produce animal products, they were one of the first to adopt plant-based alternatives into their product-lines, including us vegans beloved Gardein’s, which used to be the only good vegan meat alternatives on the market.
Overall while it’s not a pure-play Vegan stock they offer a good dividend, are quite cheap relative to other vegan-related companies, and have extremely good vegan-friendly brands in their portfolio.
If you’re a ‘boring dividend investor’ this will likely be the best vegan stock for your portfolio.
#4.) Oatly ($OTLY)
Oatly is a Swedish company who’s main product is an oat-milk, which they have made available in US and UK markets since 2015, but they now sell all around the world (well Europe and North America mostly). They also now produce far more than just oat milk, but pretty much any dairy product available on the market has been oatified by them — including Yogurts, Ice Cream, spreads, and a variety of vegan snacks, as well as of course oodles of types of oat milk.
Oatly is more of a ‘beyond meat’ type of company in our view — where it does one thing extremely well, and super successfully, and is the dominate player in the market, but is a bit overvalued and trading at a bit of a premium.
With that being said, if you simply want to hedge your dairy-positions, or get exposure to the vegan market, then Oatly is a fantastic stock to do that with.
#5.) Tattooed Chef Inc ($TTCF)
Tattooed chef is now my favourite vegan-focused stock, as while they’re not 100% vegan the majority of their products are vegan-friendly and they’re capturing all the ‘health-focused’ freezer section folks with their products, making it a great investment in our view.
They also generally trade at a much better Price/Revenue ratio, despite having some of the best growth trends on this list, making them the most undervalued currently in my opinion.
If you’re bullish on health-food as an investment in the long-term this is a fantastic choice, however if you’re just looking for vegan-exposure it’s not a pure-play vegan food stock so it might not be the best one in the list for you — keep in mind Tattooed Chef ($TTCF) is not a dividend-paying stock as it’s in it’s high-growth phase right now, so this stock isn’t very suitable for non-growth investors.