Oatly

What Oatly does

Oatly AB, headquartered in Malmö, Sweden and listed on Nasdaq under the ticker OTLY, is the company that introduced the world's first commercial oat drink in 1994 and remains the largest player in the category, with products distributed in over 60 countries. Its core technology is an enzymatic process that breaks oat starch into smaller sugar components, producing a naturally sweet oat base that is fortified with calcium, iodine, riboflavin, vitamin B12, and vitamin D. This base is sold as shelf-stable and chilled oat drinks (Original, Chocolate, Vanilla, Matcha and others), a specialized Barista Edition formulated for foam and espresso equipment, and a broadening set of adjacent plant-based dairy replacements including cooking cream, whippable cream, yogurt (Oatgurt), ice cream, soft serve, custard, Fraiche, and spreads.

Oatly monetizes almost exclusively through product sales, distributed across retail grocery, foodservice wholesale, and a co-branded Nespresso capsule line. Enterprise foodservice partnerships with McDonald's Austria, Burger King Austria, and Circle K in the Baltics provide incremental pull-through, while the Nespresso partnership has expanded from 15 markets in 2025 to 26 markets in 2026. FY2025 revenue reached $862.5M (+9.1% YoY), delivering the company's first full year of positive Adjusted EBITDA at $6.8M versus a $35.3M loss in 2024, following Q3 2025's first profitable quarter since its 2021 IPO. Recent capital actions include a SEK 1.7B Nordic bond issuance in September 2025, a $16M expansion of the Landskrona facility (adding 50M liters of annual capacity by 2027), and a January 2026 acquisition of a plant-based frozen dessert startup. The Greater China segment (~$130M revenue) is currently under strategic review for potential divestment, while Singapore manufacturing has been closed as part of a supply network restructuring.

Name

Oatly

Legal name

Oatly AB

Website

https://oatly.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Oatly is the world's original and largest oat drink company, founded in Sweden in 1994, producing enzymatic-processed plant-based dairy alternatives including oat drinks, cream, yogurt, and ice cream sold in over 60 countries via retail and foodservice.

Ownership category

akta.pro rank

NAICS

Dairy Product (except Frozen) Manufacturing (31151), Dairy Product Manufacturing (3115), Ice Cream and Frozen Dessert Manufacturing (311520)

SIC

Dairy Products (2020), Ice Cream & Frozen Desserts (2024), Food And Kindred Products (2000)

akta.pro primary industry

Plant-Based Milk & Creamer Processing (Oat, Soy, Almond, Coconut, Blends) (AFAHAJAA)

akta.pro secondary industries

Plant-Based Barista & Foodservice Formulations (Foaming/Steaming Milks, Culinary Creams) (AFAHAJAG), Plant-Based Frozen Desserts Processing (Non-Dairy Ice Cream, Gelato, Novelties) (AFAHAJAE), Plant-Based Ready-to-Drink Dairy-Alternative Beverages (Protein Shakes, Flavored RTD) (AFAHAJAF)

Keywords

• Plant-based beverages
• Oat milk products
• Dairy alternatives
• Barista oat milk
• Vegan dairy substitutes

Headquarters

HQ city

Malmö

HQ country

Sweden

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Product Sales - Retail: Oatly generates revenue through sale of its oat drink products to consumers via retail channels including grocery stores, supermarkets, and e-commerce platforms. Revenue in 2025 reached $862.5 million.
2. Product Sales - Foodservice: Oatly supplies its products to foodservice operators including McDonald's Austria, Burger King Austria, cafes, and coffee shops through wholesale and direct distribution partnerships.
3. Bond Issuance: Oatly issued SEK 1.7 billion Nordic bonds in September 2025 as part of a refinancing arrangement to strengthen capital structure and reduce debt.

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Oatly manufactures and sells oat-based dairy alternative products including oat milks (Original, Chocolate, Vanilla, Barista Edition, Chilled, Cold Foam, Matcha, Iced Coffee), cooking creams (Creamy Oat, Whippable Creamy Oat, Creamy Oat Fraîche), yogurts (Oatgurt), frozen desserts (Soft Serve, Ice Cream, Vanilla Custard), spreads, and coffee capsules made in collaboration with Nespresso. Products are produced from oats via enzymatic processing, fortified with vitamins and minerals, and distributed globally through retail grocery, foodservice, and direct channels.

Product overview

Oatly is the world's original oat drink company, established in Sweden in 1994, offering a comprehensive portfolio of plant-based dairy alternatives. The core product line centers on oat-based drinks (Oat Drink) designed to replace dairy milk, available in multiple formats including shelf-stable (1L, 250ml), chilled, and barista editions. The Barista Edition line includes specialty coffee variants (Original, Vanilla, Caramel, Churros, Coconut, Popcorn, Organic) designed for foam-friendly applications. Product extensions include chilled oat drinks, ready-to-drink iced coffee (Iced Caramel Macchiato, Iced Flat White, Iced Cappuccino), matcha beverages (Matcha, Matcha Strawberry), cooking products (Creamy Oat, Whippable Creamy Oat), spreads, oatgurt, custard, Fraiche, soft serve, and ice cream. The portfolio is unified by the core oat-base formulation with vitamin/mineral fortification (calcium, iodine, riboflavin, B12, D) and shared sustainability positioning. The company also offers collaboration products like the Nespresso-compatible Barista Edition coffee capsule.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 285,896 metric tons of GHG emissions avoided in 2025 through consumer switches from cow's milk to Oatly
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered minor, key and core.

• Compay Cafe / Ian InfanteminorGTM or Marketing Partner · 2 July 2026Partnered with Compay Cafe owner Ian Infante to launch Losers Cafe in Mexico City's Condesa neighborhood, offering free drinks and flags to fans of eliminated World Cup teams. Campaign capitalized on Mexico's tradition of early tournament exits.
• EinridekeyStrategic or Co-development Partner · 2 June 2026Swedish freight technology company deploying electric freight solutions across Oatly's North American ground fleet starting with five connected electric trucks from Ogden, Utah and Millville, New Jersey facilities. Partnership expected to save 400,000 kg CO2e over next year (87% reduction vs diesel). Supports Oatly's goal for 100% sustainable ground transport by 2029.
• Malmö FFkeyStrategic or Co-development Partner · 18 May 2026Oatly partnered with Swedish football club Malmö FF for 'Pee for the Planet' research project collecting urine from stadium supporters to create fertilizer pellets. Urine is dried, combined with oat production by-products, and transformed into Granurin pellets for agricultural use.
• SLU (Swedish University of Agricultural Sciences)keyStrategic or Co-development Partner · 18 May 2026Research partner in Pee for the Planet project, developing and testing Granurin fertilizer pellets made from human urine and oat production by-products. Conducts field trials analyzing nutrient composition and agricultural effectiveness.
• Sanitation 360keyStrategic or Co-development Partner · 18 May 2026Technology partner in Pee for the Planet project, providing expertise in collecting and stabilizing urine using techniques developed at SLU for safe agricultural application.
• City of MalmöminorStrategic or Co-development Partner · 18 May 2026Municipal government partner in Pee for the Planet project, contributing expertise in water and wastewater services and opportunities for further upscaling.
• VA SydminorStrategic or Co-development Partner · 18 May 2026One of Sweden's largest waste and wastewater organizations supporting Pee for the Planet project with municipal water and wastewater expertise.
• AvavavminorGTM or Marketing Partner · 2 March 2026Swedish fashion brand collaboration at Milan Fashion Week for Avavav's Autumn/Winter 2026 show with reversed runway format. Oatly developed three signature oat-based drinks inspired by the collection's materials, textures, and themes.
• Grain MillerskeyChannel Partner/ Reseller/ Distributor · 27 November 2025Oat milling partners working with Oatly on the F.A.R.M. program to experiment and implement regenerative agricultural practices with oat farmers. Grain Millers purchases oats from participating farmers.
• Burger King AustriakeyChannel Partner/ Reseller/ Distributor · 21 October 2025Burger King Austria launched Oatly's Baristamatic oat milk in all locations, replacing cow's milk for specialty coffees. Product is designed for compatibility with automatic coffee machines and distributed through wholesalers including Metro.
• NespressocoreStrategic or Co-development Partner · 2 April 2025Global iced coffee collaboration introduced four curated iced coffee recipes using Nespresso x Oatly Barista Edition blend. Extended to 26 markets in 2026 from 15 markets in 2025, with 11 additional cities worldwide. Both companies leverage shared expertise for plant-based iced coffee year-round.
• Circle K StoresminorChannel Partner/ Reseller/ Distributor · 12 February 2025Oatly Barista launched at Circle K convenience stores in Estonia, Lithuania, and Latvia, expanding retail distribution in the Baltic region.
• NespressocoreStrategic or Co-development Partner · 28 January 2025Initial launch of Oatly Barista Edition coffee capsule in partnership with Nespresso, specifically crafted to complement oat drink and perform well over ice. Uses top quality Arabica beans from Nicaragua and El Salvador.
• EF Pro CyclingkeyGTM or Marketing Partner · 1 January 2024Sponsorship of professional cycling team including nutrition support using Oatly products. Features coffee rides events with Rapha cycling clubs in cities including Los Angeles, New York, San Francisco, Boulder, Paris, Miami, and Bentonville.
• McDonald's AustriakeyChannel Partner/ Reseller/ Distributor · 21 March 2023Launched Oatly Barista Edition in all McDonald's Austria outlets, marking Oatly's first oat drink in the country. This foodservice partnership represents a significant retail channel for product distribution.

Scale indicators7 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Alpro: Danone-owned plant-based dairy alternatives brand offering oat, soy, almond, and coconut milks, plus yogurts, creams, and ice cream across Europe — the most directly comparable peer to Oatly in product range, barista-grade positioning, and foodservice penetration.
• Califia Farms: U.S.-based plant-based beverage company with strong barista-grade oat and almond milks, creamers, and ready-to-drink coffees; competes head-to-head with Oatly in North American retail and foodservice channels.
• Silk: Danone-owned plant-based milk brand (soy, almond, oat, coconut) with the largest U.S. plant-based milk retail share by volume, competing directly with Oatly for shelf space and foodservice accounts in North America.
• Minor Figures: UK-based plant-based beverage brand built primarily around a barista-grade oat milk competing for the same specialty coffee channel globally that Oatly addresses with its Barista Edition line.
• Ben & Jerry's: Unilever-owned ice cream brand with a growing plant-based pint line, competing directly with Oatly's plant-based ice cream and soft serve assortment in retail and foodservice.
• So Delicious: Danone-owned plant-based brand spanning yogurt alternatives, milks, creamers, and frozen desserts — overlapping Oatly's 'dairy swap' proposition across multiple subcategories.

Broad incumbents

• Danone: Global dairy and plant-based major parent of Alpro, Silk, and So Delicious, with overlapping portfolio across milk, yogurt, cream, and frozen plant-based desserts and substantially greater scale and distribution leverage.
• Nestlé: Largest packaged food company globally with a growing plant-based portfolio (Wunda pea-based milk, plant-based cream, dairy-free ice cream) that directly contests Oatly's category across retail and foodservice.

Regional players

• Valio: Finnish dairy major whose Oddlygood plant-based oat and yoghurt range directly challenges Oatly in the Nordics and select European markets, sharing similar barista-grade positioning and retail distribution.

Emerging players

• Elmhurst 1925: U.S. plant-based milk specialist with a strong barista line using nut and grain bases; competes for premium at-home and specialty coffee share against Oatly in North American retail.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/oatly
• Xx.com/oatly
• Facebookfacebook.com/Oatly
• LinkedInlinkedin.com/company/oatly

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds6 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oatly