Top Notch Vegan Investment Opportunities to Explore in 2025
In recent times, veganism, as a lifestyle and diet, has exploded in popularity, transitioning from a niche movement into a billion-dollar business. companies like Beyond Meat (BYND -0.96%) and Oatly (OTLY 2.57%) are now household names, boasting multibillion-dollar valuations. The vegan food market is on an unprecedented growth trajectory, with a compound annual growth rate (CAGR) of up to 10.63% between 2025 and 2034, as per various forecasts [1].
The sector is witnessing a surge of interest due to multiple factors, including health-conscious trends, environmental concerns, economies of scale, and technological advancements. With vegan alternatives to meat, dairy, and other traditional food items now readily available, investing in vegan stocks has become an attractive option for many investors.
Here's our take on the top 6 vegan stocks to watch in 2025:
| Company | Market Cap | Description ||--------------------------------|----------------|----------------------------------------------------------------------------------------|| Beyond Meat (NASDAQ:BYND) | $261.5 million| Pioneer in the plant-based meat substitute industry, known for its Beyond Burger and other products.|| Oatly (NASDAQ:OTLY) | $427.4 million | Known for its line of oat milk and other plant-based dairy alternatives. || Calavo Growers (NASDAQ:CVGW) | $424.2 million | Specializes in avocados and other fresh fruits and vegetables. || Laird Superfood (NYSE:LSF) | $82.5 million | Known for its vegan coffee creamers and other vegan beverages and snacks. || Local Bounti (NYSE:LOCL) | $19.5 million | Utilizes sustainable vertical farming and hydroponic greenhouse technology. || Mission Produce (NASDAQ:AVO) | $999.9 million | Global leader in the production and distribution of avocados and mangoes. |
Let's delve deeper into these top vegan stocks and analyze their strengths and weaknesses.
1. Beyond Meat
Beyond Meat, a frontrunner in the plant-based meat substitute industry, has experienced significant growth before the COVID-19 pandemic. However, this growth rate has slowed as of 2024. The company derives much of its revenue from the development of new plant-based meat alternatives, investing heavily in research and development (R&D), typically around 10%, to maintain its early-mover advantage. [3]
$261.5 million
2. Oatly
Innovative producer of plant-based substitutes for ground beef, sausage, and chicken.
Oatly, another popular plant-based brand, went public in May 2021 and saw a spike in popularity due to its aggressive marketing campaign and new product categories, including oat-based ice cream and milk alternatives. As of 2024, Oatly is still unprofitable due to its focus on marketing expenses. However, the company is actively pursuing an "asset-light" strategy, which includes shutting down facilities, thereby improving its cost structure and operational efficiency. [3]
3. Calavo Growers
$427.4 million
Calavo Growers, a California-based company, primarily focuses on avocados and other fresh fruits and vegetables. Approximately half of its revenue is derived from avocados, making it a vital player in the vegan diet staples market. [3]
Maker of oat milk and other plant-based dairy alternatives made from oats.
4. Laird Superfood
Laird Superfood, founded by athletes Laird Hamilton and Gabby Reece, struggled during its initial years but has since experienced a rebound in popularity thanks to its decision to shift to a co-packing model in 2024, which significantly improved its cost structure and profitability. [3]
$424.2 million
5. Local Bounti
Producer of avocados and other fresh fruits and vegetables.
Local Bounti utilizes vertical farming and hydroponic greenhouse technology to produce lettuce and herbs. Although it has yet to generate substantial revenue, the company emphasizes environmental sustainability by using 90% less water and 90% less land compared to traditional agriculture methods while increasing harvest efficiency. [3]
6. Mission Produce
$82.5 million
Mission Produce, a global leader in the production and distribution of avocados and mangoes, serves the vegetarian and vegan diets with its extensive offerings. The company has been able to navigate supply chain challenges and labor shortages effectively, growing its revenues and bottom line consistently. [3]
Maker of vegan coffee creamers and other vegan beverages and snacks.
Investors aiming to gain exposure to the vegan food market can consider ETFs like VegTech Plant-based Innovation & Climate ETF (EATV 0.62%) and U.S. Vegan Climate ETF (VEGN 0.68%), which offer investment opportunities in various vegan food companies.
Sources:
$19.5 million
- "Global Vegan Food Market Size, Share & Trends Analysis Report By Product, By Application, By Distribution Channel, By Region And Segment Forecasts, 2024 – 2033" - Reportlinker, 2024.
- "Global Vegan Food Market Size, Share & Trends Analysis Report By Category (Meat & Seafood Substitutes, Dairy Alternatives, Vegetable & Fruit Substitutes, Vegetable Fats & Oils & Mayonnaise, Nut Milks, Bakery & Confectionery, Snacks & Desserts), By Distribution Channel, By Region And Segment Forecasts, 2021 - 2028" - Grand View Research, 2021.
- "Which Plant-Based Stocks Belong in an Investor's Portfolio?" - The Motley Fool, 2024.
- "Vegan Food Market 2024 - 2029 Global Growth Trends COVD-19 Impact and Forecasts" - MarketandMarkets, 2024.
- "The The Vegan Food Market is Going to Be Unreal by 2033" - MarketWatch, 2022.
Ag tech start-up using vertical farming and hydroponic greenhouses.
Enrichment Data:
$999.9 million
The global vegan food market is projected to grow at varying rates based on different forecasts. Here are the key projections:
Global producer of avocados and mangoes.
- 2025-2034 Growth Rate: The global vegan food market is expected to grow at a compound annual growth rate (CAGR) of 10.63% from 2025 to 2034, reaching approximately $55.42 billion by 2034 [1].
- 2024-2033 Growth Rate: Another forecast suggests that the global vegan food market will grow at a CAGR of 12.4% from 2024 to 2033, reaching approximately $81.4 billion by 2033 [5].
- 2024-2029 Growth Rate: A report indicates that the vegan food market size will grow from $27.71 billion in 2024 to $47.82 billion in 2029, with a CAGR of 11.2% during the forecast period [4].
Categories expected to grow the fastest include:
- Plant-based protein foods: Sales of plant-based protein foods like tempeh, tofu, seitan, peas, beans, and chickpeas are soaring, even among non-vegans [2].
- Meat & Seafood alternatives: This segment is expected to dominate the market, capturing more than a 37.4% share, driven by increasing consumer preference for plant-based diets and awareness of the environmental impact of traditional animal farming [5].
- Dairy alternatives: Sales of vegan spreads, dips, sour cream, and sauces have seen an 83% growth in revenue, while plant-based cheese sales have increased by 45% [2].
- Vegan cheese: The total value of sales in the vegan cheese category reached $270 million worldwide in 2020 and is growing rapidly year on year [2].
- Vegan fast food: The global vegan fast food market is expected to grow from approximately $17 billion in 2020 to $40.25 billion by 2028, with an impressive annual growth rate of 11.48% between 2021 and 2028 [2].
Investing in the vegan food market has become a popular choice for many financiers due to its significant growth trajectory. According to various forecasts, the global vegan food market is expected to grow at a compound annual growth rate (CAGR) of up to 10.63% between 2025 and 2034, reaching approximately $55.42 billion by 2034.
With top vegan stocks like Beyond Meat (NASDAQ:BYND) and Oatly (NASDAQ:OTLY) boasting multibillion-dollar valuations and companies like Calavo Growers (NASDAQ:CVGW) and Laird Superfood (NYSE:LSF) experiencing rebound in popularity, there are numerous investment opportunities in this growing sector.
