October 8, 2021
While market research provider Statista estimates that only 2% of people over the age of 50 and 7.5% of Millennials and Gen Zers consider themselves vegetarians, it still represents a critical mass of consumers. Vegetarian-specific milk alternatives generate approximately $1.6 billion annually, with vegan meat alternatives tacking on another $670 million. In honor of Vegetarian Month this October, here are several companies offering vegetable-forward products to consumers.
Located in Paramount, CA, Tattooed Chef, Inc. (Tii:TTCF) is a leading plant-based food company offering a broad portfolio of sustainably sourced plant-based foods. The company’s products include vegetarian-based and vegan-based ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls, and cauliflower pizza crusts. The company recently announced that its products are now available in approximately 1,200 Publix Super Markets. By the end of the third quarter, management expects its branded Tattooed Chef products will be in over 12,000 retail stores, exceeding its previous goal of 10,000 stores.
Headquartered in the United Kingdom, Nomad Foods Limited (Tii:NOMD) is the largest frozen food company in Europe. With a strong portfolio of brands that include Birds Eye, Findus and igloo, the company looks to build out its global portfolio of food brands by growing organically and through strategic M&A. As part of that growth strategy, Nomad Foods acquired Fortenova Group’s frozen food business last month for approximately 615 million euros. Fortenova Frozen is a leading European frozen food portfolio that operates in markets new to Nomad Foods, including Croatia, Serbia, Bosnia & Herzegovina, Hungary, Slovenia, and Kosovo, Macedonia and Montenegro.
As a leading organic food company, The Hain Celestial Group, Inc. (Tii:HAIN) offers consumers a broad range of vegan and vegetarian meals. Its two major brands include Yves Veggie Cuisine and Natumi. Natumi is a European producer that offers non-dairy plant-based drinks made from soy, rice, and oats. Yves Veggie Cuisine offers meat-alternative products, including veggie dogs, veggie burgers, veggie slices, ground rounds, breakfast meals, and appetizers.
Some people desire to take up a vegetarian diet yet don’t want to give up their chicken tenders, beef tacos, or hamburgers. Beyond Meat, Inc. (Tii:BYND) still allows people to fulfill that craving by offering meat-alternative products that are plant-based. They provide plant-based burgers, sausages, meatballs, chicken tenders, and beef crumbles. Many Beyond Meat products are found at restaurants such as Carl’s Jr and TGI Fridays, as well as grocery store aisles.
With a mission to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile, The Very Good Food Co., Inc. (Tii:VRYYF) produces a range of plant-based faux-meat and cheese products that include Cauli-Wings, bean-based burgers, bangers, pepperoni, bratwurst, and hot dogs. The company’s Big Box of (Plant-Based) Meat is its best-seller and includes the staples for more than 28 whole-food meals.
While meat consumption continues to dwarf veganism and vegetarianism, a growing number of consumers opting for plant-based diets ensures an expanding market for these and other plant-based food producers.