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These 4 Innovative Food Stocks Are Leading the Way in the Food Sector’s Hottest Trend—Veggie Protein

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Both in 2019 and now in 2021, market research organizations have identified plant-based protein food products to be among the food industry’s top trends. Now, Bloomberg Intelligence has released a ground breaking new report predicting the plant-based food market will skyrocket to $162 billion within the next decade. This has driven a surge of new products from multiple innovative plant-based protein manufacturers. Here now we’ll look at 4 innovative food stocks developing these new products, including Beyond Meat (NASDAQ:BYND), Oatly Group AB (NASDAQ:OTLY), Tattooed Chef (NASDAQ:TTCF), and The Very Good Food Company Inc. (NASDAQ:VGFC).

Beyond Meat, Inc. (NASDAQ:BYND)

Beyond Meat (NASDAQ:BYND) has already achieved its status as a household name with its Beyond burgers being sold in several popular restaurant chains, including McDonald’s. Now it continues to innovate with new products, most recently being its plant-based Beyond Breakfast Sausage, and an expansion in plant-based chicken platform.

The protein in Beyond Chicken Tenders is derived from the nutrient-packed legume crop, faba beans. Its unique qualities make it what Beyond Meat believes is the optimal ingredient for replicating the taste and texture of traditional chicken tenders.

Oatly Group AB (NASDAQ:OTLY)

Through the launch of a new Research and Innovation Center at Lund University in Sweden, Oatly Group AB (NASDAQ:OTLY) is expanding its research output. Construction is expected to be finished in 2023. The purpose of the new research and innovation center is to further explore the potential of oats.

Oatly expects to add ~30 new scientists to its global team based in Lund over the next year, with the potential to add nearly 100 researchers across its research hubs in Europe, the Americas and Asia. The scientists will study oats in greater detail from various perspectives including biochemistry, biophysics, microstructure, nutritional traits and refinement.

Tattooed Chef (NASDAQ:TTCF)

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Plant-based food makers Tattooed Chef (NASDAQ:TTCF) recently expanded its offerings, through the acquisition of Belmont Confections, a private label co-manufacturer of nutrition bars, for approximately $18 million in cash and stock.

With the acquisition comes Belmont’s Ohio-based 47,000 square foot facility that’s already equipped in place to manufacture many different types of bars. Tattooed Chef aims to add its innovations to the operation with the goal to become a leader in the bar sector.

The Very Good Food Company Inc. (NASDAQ:VGFC)

The Very Good Food Company Inc. (NASDAQ:VGFC), recently announced two new additions to its innovative line of bean and vegetable based meats for retail and e-Commerce—Butcher’s Select Spicy Meatballs and The Very Good Steak.

The Spicy Meatballs addition came after the company’s Butcher’s Select Mmm... Meatballs recently won a NEXT Award. The product has received overwhelming demand since its launch. The original plant-based meatballs, winners of the NEXTY Best New Frozen Product category, have entered the market as a flavorful alternative to not only plant-based, but also traditional meat products in the natural food space.

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