Oatly struggles with decline in plant-based dairy: “People are tired of climate doom stories”

Plant-based milk is losing popularity in the United States. Oatly is sounding the alarm, concerned that Europe is heading in the same direction: greenwashing and “doom and gloom” are turning consumers off.

First profit despite losses?

At Oatly, which has been listed on the New York Stock Exchange since 2021, growth has stalled. At least, on the American market: the Swedish oat drink producer has lowered its sales forecast for this year from 2 to 4% to a maximum of 1% growth. In the second quarter, sales fell by as much as 6.8%. The company is also reviewing its position in China, where sales fell by 6.4%.