Oat milk, which was essentially non-existent in the US before Oatly’s entrance, saw a 151 per cent jump in sales in dollar terms at retail outlets during the 52-week period ended March 13, according to NielsenIQ. The plant-based dairy category as a whole rose 20 per cent during the same period. By sales, oat milk is the second-most popular option after almond milk.
In July, Oatly secured $200m in new capital from investors led by Blackstone Group. The group also included celebrities such as Oprah Winfrey and Jay-Z, as well as Starbucks founder Howard Schultz. The company was valued at about $2bn in the round.