The U.S. plant-based foods market will reportedly hit $10.7 billion by 2027, according to a report from Research and Markets.
With the growing interest in alt-food and plant-based meat alternatives, it's no surprise, that a growing number of plant-based food companies have gone public in recent years. Beyond Meat ( (BYND) - Get Beyond Meat, Inc. Report), the plant-based meat maker, debuted on the Nasdaq in May of 2019. The stock soared more than 163% on its first day of trading.
Plant-Based Food Companies
Here's a list of the plant-based food companies to go public, or change their name and ticker symbol in 2021.
- Meatech is focused on developing 3D printing technology to manufacture proteins without the need for animal slaughter. It began trading on the Nasdaq stock market on March 12, 2021, under the symbol MITC.
- Symbol: MITC
- Exchange: Nasdaq
- IPO Date: March 12, 2021
- IPO Price: $10.30
- IPO Valuation: $25 million
- On Wednesday, at midday, the stock was trading at $6.65, up 0.91%
- Oatly. The Swedish milk company began trading on the Nasdaq stock market on May 20, 2021, under the symbol OTLY. The stock closed up 19% on its first day of trading.
- Symbol: OTLY
- Exchange: Nasdaq
- IPO Date: May 20, 2021
- IPO Price: $17
- IPO Valuation: approximately $10 billion
- On Wednesday, at midday, the stock was trading at $15.69, down 1.38%
- Odd Burger Corporation, one of the first vegan fast-food chains to go public, completed its rebrand from Globally Local Technologies GBLFY and began trading on the TSXV under the ticker symbol ODD in July 2021.
- New Symbol: ODD
- Exchange: Canada's TSX Venture Exchange (TSXV)
- Old Symbol: GBLFY
- Symbol change: July 6, 2021
- On Wednesday, at midday, the stock was trading at $0.89, down 3.26%
- Yumy Bear is a health-conscious gummy candy manufacturer, making its debut in July under the symbol YUMY.
- Symbol: YUMY
- Exchange: Canadian Securities Exchange (CSE)
- IPO Date: July 9, 2021
- IPO Price: $5.09 CAD
- IPO Valuation: $50 million
- On Wednesday, at midday, the stock was trading at $3.02, down 5.92%
- Eat Well Investment Group, formerly Eat Well Investment Group, announced its name changed to the "Company" or "Eat Well Group" and began trading under the new U.S. symbol EWGFF on September 7, 2021. The Vancouver agri-tech company has a portfolio of companies that have sold over 26,000 tons of pure plant-based protein to over 35 countries worldwide.
- Symbol: EWGFF
- Exchange: OTCMKTS
- Old Symbol: RKSCF
- Symbol change: September 7, 2021
- On Wednesday, at midday, the stock was trading at $0.65, up 0.33%
So, what's the next plant-based company to go public? Eat Just, maker of the JUST Egg, is reportedly gearing up for a $3 billion IPO.
Also, look for more high-profile investors to enter the space. Jeff Bezos, Amazon's (AMZN) founder is one of the primary investors in Notco, a Chilean food-tech company producing plant-based alternatives. And, earlier this month Prince Khaled bin Alwaleed of Saudi Arabia, a known vegan pioneer, joined Eat Well Investment Group's newly formed Strategic Advisory Board.
Editor's note. Eat Well Investment Group is a sponsor on TheStreet.