Best Vegan Stocks to Buy in 2026: Are They Right For Your Portfolio?

Veganism has existed for centuries, but only recently has plant-based living become a major business. What used to be a niche market is now a global industry, with startups and food giants alike rolling out animal-free products to meet rising demand. Some plant-based companies now carry multibillion-dollar valuations, reflecting how mainstream this shift has become.

For investors, vegan stocks are companies that earn a meaningful share of revenue from animal-free products, most often plant-based foods and beverages. Growth is being driven by health and wellness trends, environmental concerns, and better food technology that’s improving taste and lowering costs. With the global vegan food market projected to expand steadily through 2030, more investors are taking a closer look at this space.

The stocks below highlight different ways to invest in the rise of plant-based eating, from pure-play vegan brands to larger companies with strong exposure to the trend.

Beyond Meat (BYND -6.49%) is a leader in the plant-based meat substitute industry. Before the COVID-19 pandemic, its revenue was growing at triple-digit rates, although growth has slowed dramatically since then and has declined in recent quarters. The company's products have become ubiquitous at supermarkets and common on restaurant menus. As of December 2024, Beyond Meat reported its products were available at approximately 129,000 retail and food service locations in more than 90 countries.

Beyond Meat continues to innovate and introduce new products in the vegan meat substitute category, including its fourth generation of the Beyond Burger, Beyond Beef, and Beyond Sun Sausage. Beyond Meat has historically spent heavily -- around 10% of its revenue -- on research and development (R&D), which should enable the company to hold its leadership position over time. It excels at developing new products, advancing its technology, and making quality improvements.

However, trends in plant-based meat consumption have been challenging lately, and the company has reported several quarters of revenue declines. It continues to be unprofitable as well.

2. Oatly

Oatly (OTLY -5.31%) made a splash with its initial public offering (IPO) in May 2021. The Swedish oat milk brand has shaken up the plant-based milk category, and oat milk has passed soy milk to become the second-best-selling alternative after almond milk.

While Oatly has captured attention with a bold marketing campaign and a new product category in the U.S., the company has been around since the 1990s and has been consistently developing oat-based alternative dairy products, including milk, ice cream, yogurt, cooking creams, spreads, and to-go drinks.

Oatly's products are now available in more than 65,000 stores and more than 60,000 coffee shops. Its revenue rose 5.1% to $823.7 million in 2024 compared to the previous year, although Oatly is currently unprofitable because it is spending aggressively on marketing. Its growth has also slowed significantly since its IPO, and as of the end of 2024, the company was pursuing an "asset-light" strategy, shuttering facilities to improve its cost structure, utilization, and efficiency.

Through the first three quarters of 2025, its revenue was up 3.4%, though it has narrowed its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss.

3. Calavo Growers

Avocados are a staple of the vegan diet in much of the world, and they are popular with the millennial and Gen Z generations. About half of Calavo Growers’ (CVGW +0.16%) revenue comes from avocados, and growth in the category helped the company's stock price triple between 2011 and 2020. Shares have pulled back since then amid volatility in avocado prices and falling profits as the company pursued growth in lower-margin products. Investors are hopeful that the return of former CEO Lee Cole will restore the company's earlier success.

As a commodities producer, Calavo faces stiff competition. Prices for commodities such as avocados are constantly changing. But since it takes as long as 13 years to grow an avocado tree and demand for the fruit is rising, the company should be well positioned for long-term growth. By the first quarter of 2025, prices were rising again, driving revenue growth and profits. Through the first three quarters of 2025, revenue rose 6.5% to $523.8 million, and its operating income more than doubled to $21.5 million.

5. Local Bounti

6. Mission Produce

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