In the past few years, Oatly has taken the plant-based dairy world by storm. Its F-1 filing details just how it plans to continue to grow its business.

Oatly, which was the first to create oat milk in Sweden in the 1990s, is the world’s leader in the beverage. In Sweden, the filing says, Oatly has a 53% market share in the total alternative dairy category. This percentage is the company’s “north star” goal for future international expansions. After launching in the United States in 2017, Oatly products today are available in more than 7,500 retail stores and about 10,000 coffee shops, the filing says.

There is a lot of room for growth in the United States. While oat milk as a whole saw phenomenal growth last year, becoming the second most popular type of alternative dairy, it still only has 14% market share in the U.S., according to IRI and Nielsen statistics in the F-1 filing. Oatly as a brand only has a 4% market share. However, because of Oatly’s cachet and momentum, a chart in the filing estimates the brand itself drove 13% of the growth in plant-based dairy since 2018.

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