Plant-Based Profits: 3 Vegan Stocks for More Green in Your Portfolio


  • Demographic shifts bode well for these vegan stocks.
  • Kroger (KR): Kroger offers an indirect but relevant exposure to veganism.
  • Oatly (OTLY): Oatly’s plant-based diary product alternative is pure genius.
  • Laird Superfood (LSF): Laird Superfood presents risks but the analysts love it.
Vegan Stocks - Plant-Based Profits: 3 Vegan Stocks for More Green in Your Portfolio

Source: Nina Firsova /

Vegan stocks enjoys a key catalyst that you cannot ignore. I’m talking of course about Generation Z.

According to a report by The Food Institute, 81% of college students will choose a plant-based food offering when it’s the default option. Further, Gen Z members – or Zoomers to use the cultural lexicon – are more interested in plant-based options than previous generations. Given the ideological trend, this dynamic is not at all surprising.

It must be said that everyone has differing opinions on the topic. Here’s the bottom line: don’t fight the tape. Gen Z loves going green and like it or not, it’s the emerging consumer demographic. Below are three vegan stocks to add that green to your portfolio.

Kroger (KR)

Kroger (KR) Supermarket. The Kroger Co. is One of the World's Largest Grocery Retailers.
Source: Eric Glenn /

To be sure, Kroger (NYSE:KR) isn’t what you call a pure-play idea regarding vegan stocks. However, the company has its own in-store brand called Simple Truth, which focuses on organic and natural products. It has a plant-based offering, effectively competing against the likes of Beyond Meat (NASDAQ:BYND) and Impossible. I’ve personally tried it and I thought it was a good product.

Fundamentally, Kroger enjoys the advantage of its mainline grocery business. No matter what’s going on with the market and economy, people have to eat. Should circumstances worsen from here on out, KR stock should benefit from the trade-down effect. Basically, consumers will eschew eating out for cooking in.

Currently, experts don’t see it that way. For example, they’re looking at revenue to land at $148.73 billion by the end of the present fiscal year. If so, that would be almost 1% below last year’s print of just over $150 billion. Still, the trade-down effect should be powerful, making KR an intriguing idea for vegan stocks to buy.

Oatly (OTLY)

otly stock Rolled oats or oat flakes in bowl with wooden spoons
Source: Vladislav Noseek /

An oatmilk company, Oatly (NASDAQ:OTLY) provides a range of plant-based dairy products made from oats in Europe, the Middle East, Africa, the Americas and Asia. By replacing the key ingredient of popular diary products with oats and other plant-based ingredients, Oatly effectively represents one of the most innovative vegan stocks.

Without getting bogged down with the science, due to evolution and other dynamics, some population groups acquired the ability to digest diary-based products while others did not. That said, traditional dairy products such as ice cream have become exceptionally popular. Through Oatly, people who are lactose intolerant can enjoy a greater range of foods and delicacies.

Despite the innovation, Oatly is risky, in part because its financial performances are all over the map. Last fiscal year, the high-low performance ranged from a positive surprise of 158.3% down to a negative surprise of 233.3%.

However, analysts are looking for revenue to reach $831.26 million this fiscal year, 6.1% above 2023’s haul of $783.35 million.

Laird Superfood (LSF)

Healthy vegan food. Fresh vegetables on wooden background. Detox diet. Different colorful fresh juices.
Source: Shutterstock

Operating under the packaged foods segment of the consumer defensive industry, Laird Superfood (NYSEAMERICAN:LSF) manufactures and markets plant-based natural and functional food. Per its corporate profile, Laird provides multiple products, including coffee creamers, beverage-enhancing supplements, coconut water and performance mushroom supplements. Incorporated in 2015, LSF is a young entity, going public in 2020.

Before you consider Laird as one of the vegan stocks to buy, you should know that it’s extremely speculative. For one thing, shares have almost tripled in market value since the beginning of the year. However, since making its public market debut, LSF stock fell nearly 94%. So, it has characteristics more aligned with a casino wager than a classic investment.

That said, experts have high hopes for Laird. They’re looking at current fiscal year revenue to reach $38.67 million, up 13% from last year’s print of $34.22 million. Also, they believe 2025 sales could hit $42.66 million, implying growth of 10.3%.

Basically, if you want to gamble with your veganism, LSF might be the idea for you.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

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