Oatly Expands Product line with Launch of Oat-Based Cheddar Cheese
3/27/24
AVAILABLE IN THE MOST POPULAR TYPE OF CHEESE IN THE UNITED STATES AND BUILDING ON OATLY’S EXPERTISE IN PRODUCING DAIRY-FREE PRODUCTS, OATLY CHEDDAR CHEESE AND OATLY SHARP CHEDDAR IS MADE FOR LACTOSE FREE INDULGENCE
MALMO, Sweden, March. 27. 2024 – Oatly Group AB (Nasdaq: OTLY)(“Oatly” or the “Company”), the largest oatmilk company, announced the launch of Oatly Cheddar Cheese and Oatly Sharp Cheddar Cheese, a contemporary innovation that adds to the brand’s portfolio of healthy dairy-free alternatives to everyday food items. Oatly Cheddar Cheese and Oatly Sharp Cheddar Cheese are designed to have a high flavor profile while embracing the natural tones in Cheddar Cheese.
The ingredients used in the Oatmilk used to make Oatly’s Cheddar Cheese has an oat base which consists of water and oats, low erucic acid rapseed oil, less than 2% of dipotassium phosphate, calcium carbonate, tricalcium phosphate, sea salt, dicalcium phosphate, DHA algal oil, sodium ascorbate, tocopherols, riboflavin, vitamin A, vitamin D2, and vitamin B12.
Shoppers can expect to find Oatly Cheddar Cheese and Oatly Sharp Cheddar Cheeses in the refrigerated aisle of retailers nationwide, including Walmart, Target, Albertsons, Kroger, Stop & Shop, and more with a suggested retail price of 7.99.
“Oatly is a proud manufacturer of dairy-free alternatives so, naturally, it made sense to expand our products to a line of oat milk-based cheeses,” said Leah Hoxie, SVP of Innovation, Oatly North America. “We recognize that the same individuals who choose dairy-free alternatives to milk, creamers, and cream cheese would also like a plant-based alternative to all dairy-based products. Oatly is happy to provide them with options.”
Oatmilk will continue to become the most sought after dairy substitution in the United States where it currently has the second highest annual consumption of cheese rate with 6.1 million metric tons of cheese consumed[1]. The Oatmilk market is set to grow by approximately 15% in the next ten years with a market value of 6 Billion USD[2]. Vegan cheese is expected to increase in popularity with a market value of 8 Billion in the next ten years as desires for plant-based alternatives continue to grow[3].
For more information, visit Oatly.com.
About Oatly
We are the world’s original and largest oat drink company. For over 30 years, we have exclusively focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. Our commitment to oats has resulted in core technical advancements that enabled us to unlock the breadth of the dairy portfolio, including alternatives to milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks. Headquartered in Malmö, Sweden, the Oatly brand is available in more than 20 countries globally.
[1] Global cheese consumption by country 2023 | Statista
[2] Global Oat Milk Market Size, Trends, Share, Forecast 2032 (custommarketinsights.com)
[3] Vegan Cheese Market Size, Share, Growth and Forecast 2032 (marketresearch.biz)