How to Trade a Potential $290 Billion Vegan Boom
There’s massive demand for plant-based foods. So much so, the market could be worth up to $74.2 billion by 2027, according to Research and Markets.
By 2030, according to Fortune, sales are expected to increase five-fold by 2030.
All as millions adopt healthier, meat-free lifestyles. Tyson, Smithfield, Perdue, Hormel, and Nestle are all jumping on bandwagon, selling plant-based products, too. That could all be beneficial for Komo Plant Based Foods (CSE: YUM) (OTCQB: KOMOF), Loblaw Companies Ltd. (TSX: L) (OTC: LBLCF), Else Nutrition Holdings Inc. (TSXV: BABY) (OTCQX: BABYF), Oatly Inc. (NASDAQ: OTLY), and good natured Products Inc. (TSXV: GDNP) (OTCQX: GDNPF).
Even better, by 2035, the market could be worth about $290 billion. As noted by Eco-Business.com, “The alternative protein market has rocketed over the past five years as investors pour billions into finding sustainable alternatives to meat and consumers switch to animal-friendly diets. The market for alternative meat, eggs, dairy, and seafood products is set to reach $290 billion by 2035, according to Boston Consulting Group.”