3 Best Vegan Food Stocks To Buy
Almost every investor is aware of how profitable the food industry is; they still underestimate the plant-based food sector. Plant-based food stocks especially hold a lot of potential yields for the nearest future. The demand for plant-based food is rapidly increasing, and every investor should capitalize on this opportunity.
While there was a general decline in the markets because of the global pandemic, the food industry saw a revenue of up to 20%. From research, we can conclude that was only the tip of the iceberg. Here are three of the best Vegan food stocks that hold massive potential for investors.
Tattooed Chef, Inc. (NASDAQ:TTCF)
Tattooed Chef, Inc. is a plant-based food industry based in the United States, and they deal with the production and distribution of frozen food. Their products are easily distinguishable with the unique Tattooed Chef brand label.
In the last quarter of 2020, Tattooed Chef branded products saw a massive surge of 172%. By the end of 2020, the stock could boast as much as 363% compared to the 2019 numbers. It is marginally profitable, which makes it the best option for any investor. Presently, NASDAQ:TTCF, has an estimated yearly return of 24.92%; there is no better time to invest than now.
Beyond Meat, Inc. (NASDAQ:BYND)
Beyond Mead, Inc. is a large company in the United States that produces Plant-Based foods of various kinds. The company aims are providing alternatives to animal-based products in unique ways. Their products are plant-based, yet they feel and taste as though they are meat.
In 2020, the stock NASDAQ:BYND saw a considerable revenue increase of 37% from the previous year, which amounted to $406.8 million. Although the stock may not be exactly booming now, this is a perfect time to invest. With the company investing as much as 7.8% annually into research and growth, it is almost certain that the stock will do huge numbers in the near future.
Laird Superfood (NASDAQ:LSF)
Laird Superfood (NASDAQ:LSF) is another plant-based food manufacturer with a wide reach in the US. The company kicked off with a raging start, generating up to $13.1 million in revenue almost too easy. The brand also capitalizes on several e-commerce channels.
So far, in 2021, Laird Superfood (NASDAQ:LSF) is moving at around 297% compound annual growth rate. The rapid surge in the stock is attributed to the brand’s popularity in several stores.
The inclusion of digital innovations such as online ordering and purchase of their product makes Laird Superfood one of the best investment prospects. In the years to come, the stock, as opposed to many, would undoubtedly go above expectations.