9 Best Vegan Plant-Based Stocks in 2024

Vegan and plant-based stocks will likely soar in value over the next few years. According to TheBeet, studies estimate the vegan food market could grow 100x larger by 2050.

Here is a list of my top rated vegan stocks to buy now.

Best Vegan Stocks

  • Beyond Meat (NASDAQ: BYND)
  • Tattooed Chef (NASDAQ: TTCF)
  • Oatly (NASDAQ: OTLY)
  • Else Nutrition (OTCMKTS: BABYF)
  • Very Good Food Company (NASDAQ: VGFC)
  • Komo Comfort Foods (OTCMKTS: KOMOF)
  • Laird Superfoods (NYSE: LSR)
  • Eat Well Investment Group (OTCMKTS: EWGFF)
  • Plant X (OTCMKTS: PLTXF)

Here is an in-depth breakdown of each company on the list.

1. Beyond Meat (BYND) – Best Overall Plant Based Meat Stock

Beyond Meat is the leading plant-based “meat” company in the world with products available in 119,000 retail and food service locations across 80 countries worldwide.

The company sells the following plant-based products:

  • Beyond Burger
  • Beyond Beef
  • Beyond Sausage
  • Beyond Meatballs
  • Beyond Breakfast Sausage
  • Cookout Classic
  • Beyond Beef Crumbles

NBA superstar Kyrie Irving is the brand ambassador and investor in the company with other celebrity endorsements from Chris Paul, Deandre Jordan, and many others.

Beyond Meat reported annual revenue of $467 million (Up 14.7% YoY) in 2021 with a net loss of $187 million (-$2.88 per share).

Beyond Meat Annual Revenue

Year Revenue
2022 $256 million (as of Q2 2022)
2021 $465 million
2020 $407 million
2019 $298 million
2018 $88 million
2017 $33 million
2016 $16 million

Beyond Meat is the #1 top-selling SKU out of all retail plant-based meats in the United States and holds four of the top 6 SKUs in that category.

BYND stock has slumped recently due to consumers choosing cheaper private label plant-based alternatives and traditional meat products.

BYND shares are trading at their lowest levels since the February 2021 growth stock bubble. Beyond Meat has been under the attack of short-sellers and carries a 35% short interest.

The good news is Beyond Meat has several major partnerships that could help turn around sluggish U.S. revenue numbers.

Beyond Meat and PepsiCo launched their plant-based jerky product as Beyond Meat wants to capture market share in the vegan snack market.

Also, Panda Express is bringing back Beyond Meat’s Orange Chicken nationwide while supplies last.

The bad news is that McDonald’s removed the McPlant veggie burger from its US restaurants after a failed trial run.

Risk factors include plant-based competitors like Impossible Foods stealing market share and inflationary pressures that cause consumers to seek out cheaper vegan alternatives.

If you want to invest in vegan food stocks then Beyond Meat is the first company I’d recommend.

2. Tattooed Chef (TTCF) – Best Plant Based Food Stock

Tattooed Chef is a leading plant-based food company that sells ready-made meals through grocery retail stores and its online e-commerce store.

The company sells the following vegan and vegetarian-friendly meals:

  • Organic Acai Bowl (Vegan)
  • Mexican Style Street Corn (Vegetarian)
  • Zucchini Spirals (Vegetarian)
  • And more!

The company is rapidly expanding its footprint to scale its revenues by selling its products in over 12,000 retail stores along with the acquisition of Foods of New Mexico in Q2 2021.

In 2021, Tattooed Chef reported $213 million in revenue (Up 45.9% YoY) with a net loss of 65 cents per share.

Tattoed Chef Revenue, Net Income, and EPS by Year

Year Revenue Net Income EPS
2022 (As of Q2) $130 million -$34 million -$0.54
2021 $213 million -$87 million -$1.08
2020 $148 million $68 million $1.68

The Foods of New Mexico acquisition helped boost sales plus Tattooed Chef branded products outperformed all other categories as well.

TTCF stock hasn’t done much all year but it’s still up nearly 100% from its previous $10 SPAC IPO price. With a Price to Sales ratio of just 8, TTCF stock trades at a big discount when compared to BYND shares. However, TTCF stock constantly trades around $20 without any big movements insight.

From a fundamental standpoint, I think Tattooed Chef is a decent multi-year hold. Management raised its full-year 2021 revenue guidance to around $250 million, which shows a nearly 50% revenue increase compared to 2020.

I haven’t personally tried any Tattooed Chef meals but apparently, the meals taste great. Even popular Youtubers like Jeremy of Financial Education hold a large stake in the company.

TTCF stock trades under a $2 billion market cap and could really soar in the next couple of years as the plant-based movement continues to grow over time.

My TTCF stock price target is around $30.

3. Oatly (OTLY) – Best Plant Based Milk Stock

Oatly is a plant-based company that turns oat into drinks providing a better alternative to milk-based products.

Billionaire celebrities Oprah Winfrey, Starbucks founder Howard Schultz, and Jay-Z bought a minority stake in Oatly before the company went public in May 2021. A joint venture between Chinese government-backed China Resources and Belgium-based firm VerInvest control a whopping 60% majority stake in the company.

The company is rapidly expanding its footprint by selling its product in over 65,000 foodservice locations around the world, which helped Oatly hit record revenue in 2021.

In Q2 2021, Oatly reported revenue of $146.2 million (Up 53% YoY) and produced 106 million litres of finished goods (Up 43.2% YoY).

In order to increase production capacity, Oatly opened two new facilities in Ogden, Utah, and Singapore plus announced a 3rd manufacturing plant to be built in Fort Worth, Texas in 2023.

OTLY stock has done much since the IPO back in May 2021 and trades near its IPO price of $17. The good news is the company raised its full-year 2021 revenue guidance to $690 million and plans to produce a whopping 600 million liters of finished foods in 2021.

With a solid $10 billion market cap, OTLY stock trades at a Price to Sales ratio of 18 and continues to experience downward selling pressure in the short term. However, Oatly has enough billionaire backers and revenue growth to make OTLY a solid long-term investment.

4. Else Nutrition (BABYF) – Best OTC Microcap Plant Based Stock

Else Nutrition is a Canadian plant-based food company for children that provides a sustainable, environmentally friendly replacement for milk-based products.

Many children are allergic to milk and dairy products (including me when I was a kid) because milk is food for baby cows, not human children.

The company plans to disrupt the entire baby formula & children’s nutrition industry with its plant-based healthy formula and shake alternatives.

BABYF is an OTC stock with additional risks that don’t apply to publicly traded NASDAQ and NYSE stocks. The quarterly numbers listed below have not been audited so please take this into account before investing. OTC stocks are high risk-high reward investments so do your own research.

In Q2 2021, Else Nutrition generated revenue of CAD $1.1 million (Up 430% YoY) and launched its products in over 1,100 stores throughout North America as part of its massive growth strategy.

The company recently signed an online distribution deal with Walmart plus launched a brand new product line to boost revenue even further.

BABYF is an OTC microcap stock with lots of upside but also plenty of risk in the short term. BABY shares trade at a Price to Sales ratio of 58 plus the company cannot benefit from the army of Robinhood and WallStreetBets retail trades due to OTC trading limitations.

BABY stock forecast looks bright because the Walmart deal finalizes in Q4 2021 and Else Nutrition will be available to a ton of new customers.

With just a $180 million market cap, I think BABYF stock could easily 10x in a year or two. There’s risk here but plant-based alternatives will only become more popular in the future and I expect plenty of moms will switch from dairy-based products to plant-based ones for their children.

My BABYF stock price target is $5+ after the Walmart deal sinks in.

5. Very Good Food Company (VGCF) – Best Vegan Penny Stock on NASDAQ

The Very Good Food Company is a plant-based food technology company that sells plant-based meats, cheese, and other food alternatives.

The company produces 20 different products: 14 under the Very Good Butcher brand and 6 under the Very good cheese brand.

In Q2 2021, The Very Good Food Company generated $2.7 million in revenue (Up 156% YoY) with e-commerce sales making up a large percentage of overall sales (almost 80%). The company delivered over 24,000 e-commerce orders with a net loss per share of 13 cents.

VRYYF is yet another high-risk OTC penny stock with lots of future growth potential. The company has a strong vision to scale production with its 4 Canada-based production facilities and already has key distribution partnerships through the United States and Canada.

VRYYF stock trades at a price to sales ratio of 25, which is a bit more expensive than other plant-based stocks on this list. The good news is Very Good Food Company is valued at a $200+ million market cap and has plenty of room to grow in the future.

6. Komo Plant Based Foods (KOMOF) – Best Vegan Penny Stock

Komo Comfort Foods is a highly speculative OTC stock that sells plant-based meals through its online Shopify-powered e-commerce store.

Komo’s product line includes 5 different products: Lasagna, Shepherd’s Pie, Chick’n Pot Pie, Bolognese Sauce, and BBQ Taco Filing.

The company launched its first products in March 2021 and I couldn’t find much financial information on the company to perform a comprehensive fundamental analysis.

You can check out Komo’s June 2021 investor presentation for more details and I’ll be sure to include financials once available.

The good news is KOMOF got uplisted from the OTC pink sheets to OTCQB Venture market , which should increase both retail and institutional interest in the stock.

KOMOF stock trades at a $20 million market cap but there is no official word on how much revenue the company is generating.

KOMOF is a risky play so be careful with this one but I think it could do well long term after the pump ends and the dust settles!

7. Laird Superfood (LSF)

Laird Superfood is a plant-based food company that creates a variety of everyday products for health-conscious consumers.

Laird’s product line consists of coffee creamers, beverages, snacks, and other vegan-friendly items.

In Q2 2021, Laird generated $9.2 million in revenue (Up 64% YoY) with a net loss of 60 cents per share. Online e-commerce sales made up 63% of Q2 revenue and coffee creamers alone is responsible for more than half of Laird’s total quarterly revenue.

Laird’s longtime CEO Paul Hodge Jr will be stepping down as CEO so perhaps there is something going on behind the scenes that investors should be wary of.

After a stellar IPO in 2020, LSF stock has been absolutely crushed over the past 52 weeks and sits at $18 per share. LSF stock trades at a ridiculously low price to sales ratio of 5, which makes LSF shares the best overall value out of all the stocks on this list (from a P/S ratio analysis).

Plant-based stocks have sold off as more investors chased gains in hotter sectors so LSF stock could be caught in a bear cycle (assuming there is nothing behind the CEO’s resignation).

8. Eat Well Investment Group (EWGFF)

Eat Well Investment Group Inc is a Canadian investment company primarily focused on high-growth companies in the agribusiness, food tech, plant-based, and ESG (environmental, social, and governance) sectors.

The company operates a vertically integrated seed to market model to compete in the fast-growing plant-based food industry. Eat Well Invest made two key acquisitions to gain market share in July 2021: Belle Pulses and Sapientia. The whole business strategy is to own 100% of these plant-based companies while keeping the entire management team intact.

According to Eat Well Group’s Investor Deck, the company will generate $60 million in revenue during 2021.

Belle Pulses is one of the largest processors of plant-based ingredients in Canada and contributes the bulk of Eat Well Group’s revenue ($60 million CAD projected in 2021).

Environmentalist Prince Khaled Bin Alaweed, a well-known vegan and early Beyond Meat investor, joined Eat Well Investment Group as a strategic advisor and shareholder in the company. According to Prince Khaled, Eat Well Group sold over 26,000 tons of pure plant-based protein to over 35 countries worldwide, which saved 89,000 metric tons of methane. Methane is well known as a leading contributor to the global warming crisis.

EWGFF looks extremely undervalued if these revenue numbers are accurate. Right now, EWGFF trades at a $62 million market cap and a Price to Sales ratio of 1 (!).

OTC penny stocks are extremely risky but the addition of Prince Khaled adds credibility to Eat Well’s long-term business goals.

EWGFF looks like a solid OTC runner that could pump higher on strong future volume. From a fundamental standpoint, I think EWGFF shares are too cheap and have a lot of long-term upside.

My future EWGFF stock forecast depends on how legit the company revenue numbers are and how many OTC traders and investors gain interest in the stock.

EWGFF stock could easily 5x until early investors take profits so I believe $3+ is a strong possibility in the near future.

9. PlantX (PLTXF)

PlantX is a Canadian-based e-commerce company that serves as a one-stop-shop for everything plant-based. The company operates a Shopify-powered online store and plans to open Xmarket brick and mortar stores in Israel, USA, and Canada by the end of 2021.

In the latest quarter, PlantX generated over $4 million in gross revenue with net losses of 9 cents per share.

Female tennis superstar Venus Williams and NFL rookie QB Justin Fields are two of the company’s brand ambassadors and even have their own personal plant store within the website so you can order exactly what the pros are eating and drinking daily.

One of PlantX’s keys to massive revenue growth is joining forces with major e-commerce brands such as Amazon and Walmart. PlantX will launch over 500 plant based products on Walmart.com USA by the end of 2021.

PLTXF stock trades at a $44 million market cap with an attractive price to sales ratio of 4. I expect revenue to climb substantially after the Walmart USA launch and opening on the XMart locations in San Diego, California.

It’s rare to find a cheap OTC penny stock that’s backed by celebrity millionaires at a fair valuation. OTC stocks are riskier than NASDAQ/NYSE listed companies but you can make solid gains if you buy the right OTC stocks and hold long term.

The Bullish Case for Plant Based Vegan Stocks

As the global population grows larger, it’s becoming impossible to feed the entire planet using the old traditional animal-based food pyramid. Widespread malnutrition and hunger are directly linked to the unsustainable animal food industry which also contributes to harmful Co2 emissions.

Plant-based meat and milk companies will disrupt the entire food industry by providing healthier alternatives to meat and dairy.

According to Bloomberg, the plant-based food market will reach $161 billion by 2030.

That means savvy investors will profit immensely from a handful of vegan stocks that benefit from a much-needed shift in dietary habits.

Why Invest in Vegan Friendly Stocks?

  • Plant based companies will disrupt the global food industry and gain market share over the next few decades
  • Veganism is growing in popularity due to the rise of books, documentaries, websites, and celebrity endorsements that show how a plant based diet reduces many modern day health issues and increases lifespans
  • Vegan stocks are mostly small and mid-cap companies with a lot of growth in the future
  • Plant based companies will benefit from positive karma by reducing overall carbon emissions just like Tesla benefited from the rise of electric vehicles

Risk Factors

  • Veganism doesn’t catch on quickly and consumers resist purchasing plant-based food items
  • Plant-based food companies dilute shareholders through stock offerings to raise capital if revenue growth isn’t robust
  • None of the vegan food stocks on the list pay a dividend so you must sell covered calls to generate passive income

Best Online Brokers for Vegan Stocks

You need a good online broker to trade the stocks listed above.

You can buy NASDAQ and NYSE listed plant-based stocks like BYND, TTCF, and OTLY on any U.S. based stock trading app or platform. Robinhood, Webull, eTrade, or Fidelity are all decent options.


Plant-based vegan stocks aren’t too popular right now and trade at fair valuations. Now is a good time to invest while retail and institutional investors focus on hyped-up sectors such as EV stocks.

I prefer buying high-growth stocks when they become unpopular because you get a much bigger margin of safety in case you are wrong.

Plant-based stocks will provide huge returns throughout this decade and hopefully, some of these stocks will outperform the broader stock market.

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