Competition Is Getting Fierce in the White-Hot Oat Milk Space
First, there was Oatly. Now, established players and startups alike have their own oat milk products.
Oat milk is a trend three decades in the making.
Oatly, an independent Swedish company, came up with a patented process to turn oats into a beverage that could replace milk in the 1990s. But it wasn’t until the past few years, when the brand underwent a redesign and targeted coffee shops in New York, that consumers took note of the oat. Oatly spread to shops and retailers across the country, and became so popular last year that there were shortages that temporarily drove prices up.
Related: Impossible Foods Raises Another $300 Million to Boost Production of its Bleeding Plant-Based Burger
That’s unlikely to happen again, as competition has heated up in the oat milk space. Major industry players, including HP Hood (under the brand Planet Oat), Quaker Oats, Silk and Pacific Foods now produce their own oat beverages. Nut milk maker Califia also recently introduced its take on oat milk, as did Happy Planet and several upstarts such as Elmhurst 1925, Thrive Market and Minor Figures.
environment. $1.6 billion in 2018 dropped by $1.1 billionOat milk is a trend three decades in the making.
Oatly, an independent Swedish company, came up with a patented process to turn oats into a beverage that could replace milk in the 1990s. But it wasn’t until the past few years, when the brand underwent a redesign and targeted coffee shops in New York, that consumers took note of the oat. Oatly spread to shops and retailers across the country, and became so popular last year that there were shortages that temporarily drove prices up.
Related: Impossible Foods Raises Another $300 Million to Boost Production of its Bleeding Plant-Based Burger
That’s unlikely to happen again, as competition has heated up in the oat milk space. Major industry players, including HP Hood (under the brand Planet Oat), Quaker Oats, Silk and Pacific Foods now produce their own oat beverages. Nut milk maker Califia also recently introduced its take on oat milk, as did Happy Planet and several upstarts such as Elmhurst 1925, Thrive Market and Minor Figures.
environment. $1.6 billion in 2018 dropped by $1.1 billionThe rest of this article is locked.
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