Over the past two years, sales of oat milk have shot up an astronomical 1,200%, according to Nielsen, which estimated sales in the first half of the year at $316.4m in the US. And while still only a small fraction of the overall non-dairy milk category, which Nielsen estimated at $2.2b earlier this year, oat milk’s growth spurt is far from over. According to Market Research Future, the oat milk market is projected to reach $2.2b by 2026 with a compound annual growth rate of 6.2%.
The speed with which oat milk has gained popularity as a more environmentally-friendly, ethical and health conscious alternative to dairy milk, has attracted several influential new players this year, including the Coca-Cola Co., which launched Simply Oat branded oat milk in April, Danone which said in a recent earnings call is “executing a full restage of oat-based milk alternatives under the Silk brand,” UK-based Minor Figures, which expanded in the US in February, and Starbucks, which announced in March it would offer Oatly on its menu.
These join the ranks of many brands already playing in the US oat milk space – creating a highly fragmented category, of which Planet Oat claims to hold the top share position thanks in large part to its all-inclusive approach to innovation, distribution, marketing and more.
“We are all about meeting consumers where they are,” said Chris Ross, VP of marketing at Planet Oat, owned by dairy giant HP Hood.
He explained to FoodNavigator-USA that Planet Oat’s journey began in response to consumer demand for more options to help them achieve their wellness goals.
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September 21, 2021 at 08:44PM
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Planet Oat captures share in competitive oat milk category with an all-inclusive, easy-access approach - FoodNavigator-USA.com
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