The oat milk wars are simply starting
That’s because there’s a lot of money at stake for brands selling the increasingly popular dairy alternative. Sales of the item were about $316.4 million in US retail in the year ending on May 29, according to Nielsen. That’s still a small market compared to non-dairy milk alternatives overall, about $2.2 billion. But oat milk is up about 1200% percent over the past two years.
That means that in North America, there may well be an even bigger oat milk boom coming. And with Oatly, the Swedish company that helped popularize the product, still struggling to meet demand as it works to expand production capacity, it’s a perfect time for competitors like Danone, Planet Oat maker HP Hood and Chobani to snatch up some share in the new, fragmented category, where the race is still close enough for players to have a chance to jostle for the top spot.
“There’s going to be a lot of competition on this front,” said Maria Mascaraque, who oversees food and nutrition research at Euromonitor.
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