Sometimes, even the most boring stocks hold big potential. Look at plant-based food stocks, for example.

While these may not be the most exciting stocks, statistics point to strong future growth. Younger generations, including Generation Z, just saw a five percentage-point increase in their adoption of plant-based food since 2021. All of which presents “a significant opportunity for sustainable food brands,” as noted by Trellis.net.

In addition, according to analysts at the Brightfield Group, “Gen Z is opting for plant-based dairy alternatives such as oat milk, plant-based ice cream, pea milk and soy milk. They do not appear to be adopting plant-based meat replacements with the same enthusiasm.”

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With stats pointing to further growth, analysts at Spherical Insights say the global plant-based market could be worth about $55.84 billion by 2033 from $23.73 billion today.

That being said, investors may want to keep an eye on plant-based food stocks, such as:

Oatly (OTLY)

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Look at oat milk stocks, like Oatly (NASDAQ:OTLY).

For one, earnings are improving. Its earnings per share loss of five cents, for example, beat estimates by two cents. Revenue of $202.2 million, up 3.2% year-over-year, beat by $910,000. It also raised its full-year outlook for revenue growth to a new range of 6% to 10% from 5% to 10%. It also expects to post an EBITDA loss of $35 million to $50 million, which is slightly better than its prior calls for a loss of $35 million to $60 million.

Two, the plant-based drink is popular. In fact, over the last year, U.S. retail sales jumped to $695 million (28% growth), according to Ambrook.com. Demand for oat milk is also up in grocery stores, where it held a 24% share of the retail plant-based milk market in 2023.

That being said, OTLY could push higher over the long haul.

Ingredion (INGR)

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While Ingredion (NYSE:INGR) isn’t one of the pure play plant-based food stocks, it has been increasing its plant-based offerings, including patties, seafood and chicken. And it carries a healthy dividend of 2.43% and just recently paid out a quarterly dividend of 78 cents.

Earnings have also been okay. Its EPS of $2.87 beat by 38 cents. Revenue of $1.88 billion did miss by $100 million, though. INGR also raised its full-year EPS guidance to a new range of $10.20 to $10.70, and also raised its adjusted EPS range to $9.70 to $10.20.

Plus, as noted in a recent press release, the company expects to deploy cash towards organic investments, dividends and share buybacks.