Plant-based products are fast becoming a popular alternative to regular meat and dairy products, with companies such as Tyson Foods (NYSE:TSN) and Kellogg (NYSE:K) entering the space. Restaurants and grocery stores are adopting the products, responding to the emerging trends of vegan diets.
As investors, identifying top industry players in the vegan markets as these trends grow is key. We’ve compiled a list of them ranked by market cap.
- Oatly (NASDAQ:OTLY), $4.43 billion - The world's largest oak drink company recently partnered with Deutsche Bahn in Germany, the largest railway in the country, to provide passengers with plant-based milk alternative or coffee creamers.
- Beyond Meat (NASDAQ:BYND), $3.93 billion - The growing company recently announced partnerships with restaurants such as KFC, Panda Express and Pizza Hut to provide various vegan products.
- Tattooed Chef (NASDAQ:TTCF), $1.06 billion - Available in over 13,000 retail stores, Tattooed Chef is an industry leader in ready-to-eat, plant-based meals.
- Mission Produce (NASDAQ:AVO), $958.82 million - Returning to its 2020 IPO levels, Mission is a producer and distributor of various fruits and vegetables, specializing in the production and distribution of avocados and mangoes.
- Calavo Growers (NASDAQ:CVGW), $746.36 million - Calavo is a global avocado industry leader and an expanding provider of value-added fresh food serving retail grocery, food service, club stores, mass merchandisers, food distributors and wholesalers worldwide.
- Local Bounti Corp. (NYSE:LOCL), $469.47 million - Deutsche Bank recently initiated coverage on Local Bounti with a Buy Rating, announcing a price target of $9. Local Bounti sustainably grows fresh greens and herbs in its greenhouses using 90% less water and land than conventional farming.
- AppHarvest (NASDAQ:APPH), $320.37 million - Down 91% over the last year, CEO David Lee says “we remain on track to quadruple our number of operating farms this year.” AppHarvest currently operates a 60-acre greenhouse in Morehead, Kentucky that grows hydroponic tomatoes.
- Laird Superfood (NYSE:LSF), $63.29 million - The company specializes in plant-based coffee creamers, juices, drink blends and snacks.
Photo courtesy of Beyond Meat.
