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Time and again, technological revolutions pave the way for the world to become a better place. More often than not, investors who are early to identify companies that are driving such transformational changes end up booking lucrative investment returns in the long run, which is why it makes sense to keep an eye on business sectors and companies that are at the forefront of changing the world as we know it. The global food industry has long been under the scrutiny of both investors and policymakers because of its detrimental impact on the environment, and these concerns have given rise to the plant-based food industry, which is quickly becoming one of the most disruptive business sectors today.
The plant-based food market was valued at $35.6 billion by the end of 2021, and this young industry is expected to grow exponentially in the coming years to reach a value of $161.9 billion by 2030.
The value of the plant-based food market
Source: Statista
This stellar growth is expected because of a few major reasons, including the growing population of vegans, billion-dollar investments in plant-based food products by both businesses and government entities, the changing consumer spending habits, and the rising intolerance of animal protein among the youth. Although it would be nearly impossible to replace meat products with 100% plant-based food products, a lot of progress has been made in the recent past to promote plant-based food products and also cultured meat products that are sourced ethically.
Companies to look out for
Many companies – from young startups to established food giants – have joined the movement to embrace plant-based food products, leaving investors with many options to choose from. That being said, from an investor’s perspective, it makes more sense to invest in companies that are finding solutions to the most critical challenges seen by the plant-based food industry. The companies highlighted below are doing exactly that.
- Tattooed Chef, Inc.
Tattooed Chef is a plant-based food company that sells various unique products such as ready-to-cook bowls, zucchini spirals, smoothie bowls, and plant-based burgers. The company’s products can be found in more than 14,000 outlets today. The company is venturing into new business areas aggressively – the latest being the expansion into plant-based snack bars.
- PlantX Life Inc.
PlantX is a technology solutions provider focused on the plant-based food products space and the company runs an e-commerce platform helping the seamless distribution of plant-based food products from producers to consumers. As the first plant-based technology company in the world, PlantX is uniquely positioned to grow in the next few years as the interest in plant-based products reaches new highs. The company is focused on becoming an indispensable tool for plant-based product manufacturers wanting to reach an established customer base, and its efforts so far have helped many businesses do that. As a company that enjoys first-mover advantages in this space, PlantX could become a big winner in the future.
- Ingredion Incorporated
Ingredion is a producer and distributor of sweetener products for various industries, and its top products include glucose syrups, high maltose syrups, and high fructose syrups. The company has also expanded to produce plant-based meat alternatives such as plant-based patties, plant-based hot dogs, and plant-based seafood products in a bid to make the most of the increasing interest in these types of products. With a well-diversified portfolio of products and a strong relationship with its customers, Ingredion seems well-positioned to become a big winner in the plant-based food revolution.
- ELSE Nutrition
Else Nutrition is a plant-based baby nutrition products manufacturer, which makes it one of the very few companies to focus on this multi-billion-dollar market opportunity. Headed by a highly qualified team of managers and a world-class scientific advisory board consisting of renowned academics, the company has already made notable inroads into the baby products market. With a focus on replacing overly processed infant formula core ingredients with plant-based alternatives that are considered considerably healthier for infants, Else Nutrition prides itself on developing products that avoid controversial proteins. The company recently signed a new agreement with Rouses Markets to expand its products to 65 new locations in the Southern United States, and the company also signed a partnership with Big Y, one of the largest supermarket chains in the Northeast, to take Else Kids Nutrition products to new customers. The company has been granted patents for infant and toddler applications in various regions including the United States, Australia, Canada, and India, and this portfolio of patents will help the company expand aggressively in the coming years.
Conclusion
The global food industry is changing dynamically, and a few companies are forcing the changes to promote a healthier, plant-based future for the upcoming generations. Investing early in these companies could help growth-oriented investors book handsome returns in the future.
