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10 Vegan Stocks We’re Watching and Why

According to data from Acumen, the global vegan food market revenue is poised to reach $49.6 billion by 2032 with a CAGR of 11.8% from 2023 to 2032. Investors aiming to tap into the rising interest in the vegan industry have a range of opportunities to consider, from stable, long-established companies like SunOpta to emerging, higher-risk ventures such as CULT Food Science Corp.

Here are 10 vegan stocks that we are watching this year and why (to reveal the stock charts simply click the first check box).

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Beyond Meat (NASDAQ: BYND)

Despite market volatility and competitive pressures, Beyond Meat remains a leader in innovation within the plant-based meat sector. While the current stock price is sitting significantly lower than the recent highs experienced after its Q4 earnings call, Beyond Meat remains a leader in innovation within the plant-based meat sector.

Through strategic partnerships and continuous product innovation, including its latest recipe enhancements, educational initiatives, and active collaborations with major entities such as Pizza Hut and Costco, Beyond Meat is strategically positioned to leverage the expanding market demand for plant-based foods.

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Oatly (NASDAQ: OTLY)

Oatly has made a name for itself with its oat milk products and has broadened its range to include various dairy-free items. The company has faced challenges with profitability but is consistently enhancing its production capacity and market reach. Oatly recently launched a portioned product line for Swiss Rail, established collaborations with Barry’s Gym, and TOURS Les JOURS bakeries across the US, and rolled out a new Oatgurt line in Germany and creamers in the US.

While the company faces increased competition from established dairy companies launching their own oat milk options and private label brands, its strong brand recognition and expanding distribution network make it a compelling investment choice.

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Laird Superfood (NYSEAMERICAN: LSF)

Specializing in plant-based superfoods like creamers and hydrate drinks, Laird Superfood targets the health-conscious consumer. With a focus on niche markets such as functional foods and adaptogens, the company is poised for growth in the wellness industry, supported by a strong innovation pipeline.

Though smaller and less liquid, Laird Superfood has a niche market that could promise substantial growth. The functional food and adaptogen market is rapidly growing, and Laird Superfood is a well-established brand in this space, with a focus on innovation with new product launches, keeping them relevant in the market.

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Else Nutrition (TSX: BABY)

Innovating within the specialized sector of baby and children’s nutrition, Else Nutrition offers unique, 100% plant-based, non-soy products. As a smaller company, Else has shown promising growth with significant market potential in specialized nutrition.

A recent partnership with Danone to include Else’s products in its specialty food range underlines the company’s growth potential and innovative edge.

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Ginkgo Bioworks (NYSE: DNA)

Ginkgo Bioworks designs custom microbes for various markets, with a growing presence in the vegan sector. Positioned at the forefront of biotechnology, Ginkgo navigates an environment marked by high volatility yet substantial potential.

The company has recently become a significant player in the vegan and alternative protein industries through collaborations with major entities such as Aqua Cultured Foods, Vivici, QL AG, Bolt Threads, and Imagindairy. Ginkgo’s contributions to advancing technologies in sustainable food practices, including the development of cultivated meats, render it a compelling choice for investors looking towards the future.

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Ingredion (NYSE: INGR)

As a leading provider of ingredient solutions, Ingredion’s portfolio includes essential plant-based proteins, starches, texturizers and other ingredients vital for vegan manufacturers. Known for financial stability and consistent dividend payouts, Ingredion offers a low-volatility investment opportunity in the growing plant-based food sector.

Its stock has shown steady growth due to increasing demand for plant-based diets. Ingredion leverages its global presence and focus on innovation to stay competitive, recently earning accolades as a top employer in the UK and Germany for the second consecutive year.

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CULT Food Science Corp. (CNSX: CULT)

CULT Food Science is dedicated to advancing cultured meat and other innovative food technologies. Operating as an investment platform, it strategically supports emerging companies within the cultivated meat, plant-based dairy, and alternative protein sectors. By investing in CULT, stakeholders gain access to a varied portfolio of promising startups focused on vegan and alternative proteins, which can help diversify and potentially reduce investment risks compared to betting on a single entity.

CULT places a strong emphasis on the cultivated meat sector; however, the company is also developing in the alternative pet food market. Last year, it launched its third proprietary plant-based ingredient and collaborated with Umami Bioworks to develop cell-cultured cat treats.

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Odd Burger Corporation (TSXV: ODD)

Odd Burger, a vegan-friendly fast-food chain, is on a growth trajectory. The company branched into the retail sector at the end of last year, launching a consumer packaged goods (CPG) line of burgers available at its restaurant locations and selected retailers across Canada.

Additionally, Odd Burger is expanding its foodservice operations with six new outlets pending in Canada and has secured a deal to open 20 locations in Washington State, USA, over the next eight years. With ambitious expansion plans and a distinct market presence, Odd Burger presents a potentially lucrative opportunity for investors targeting the rapidly expanding vegan fast food market.

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SunOpta (TSX: SOY)

SunOpta specializes in plant-based foods and beverages, handling sourcing, processing, and packaging. The company is an established player in the vegan food industry and has recently seen notable developments. A significant investment from Mackenzie Financial has recently bolstered investor confidence in SunOpta’s prospects. While SunOpta’s stock performance has been mixed, showing less volatility and more steady growth compared to some purely vegan companies, it reflects a balanced investment profile.

SunOpta recently celebrated its 50-year anniversary in plant-based food production and has committed over $200 million in the past three years to expand production capacity. This investment supports its goal to double its plant-based business by 2025. With robust operational capabilities and growth commitments, SunOpta is well-equipped to capitalize on the growing market for plant-based foods.

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Bunge Limited (NYSE: BG)

Bunge, although not exclusively a vegan company, plays a pivotal role in the plant-based food industry. As a major agribusiness and food processing entity with a global footprint, Bunge focuses significantly on the processing of soybeans, which is a vital component of numerous vegan products. The company’s stock has demonstrated steady growth, representing a more established and potentially more stable investment alternative compared to some niche vegan-only stocks.

Recently, the company commenced construction of a $500 million soybean processing facility in Morristown, Indiana, set to open in mid-2025. This fully integrated plant will produce soy protein concentrates and textured soy protein concentrates tailored for the plant-based foods market. Additionally, Bunge has launched Beleaf PlantBetter, a plant-based butter described as superior-tasting and sustainable, aimed at bakery applications.

These ten stocks illustrate the dynamic nature of the vegan sector, but this is not financial advice. Make sure to do your own research before making any investment decisions.

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