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Planet Oat solidifies #1 spot in US oatmilk category, grows retail sales 60% YoY across oatmilk, creamers, frozen desserts

From a standing start in January 2019, Planet Oat​​ (owned by dairy co HP Hood) generated retail sales of $234m in the 52 weeks to Sept 4 (IRI data spanning Planet Oat’s oatmilk, creamers and frozen desserts), up 60% year-on-year, with a volume share in oatmilk of 38% ahead of Oatly at 20% and Chobani at 17%.

According to HP Hood, Planet Oat oatmilk has the largest group of buyers at nearly 9.4 million, followed by Chobani Oat at 5 million.

The brand has also started to pick up traction in foodservice, building a successful partnership with ‘Dunkin secured in 2020 and forging some soon-to-be announced tie ups with other high-profile QSR brands, SVP marketing and R&D Chris Ross told FoodNavigator-USA.

Feeling ‘uncomfortable at all times’

But there is zero room for complacency, insisted Ross, who says if you’re not feeling “uncomfortable at all times​” in the cutthroat world of CPG you’re probably heading for a fall.

The experience of PepsiCo – which jumped in, and rapidly out, of the category with the ill-fated Quaker Oat Beverage​​ – is a case in point; while Coca Cola – for all its market clout and expertise – has not yet gained any meaningful traction with its Simply Oat​​ offering.  

Oatly, meanwhile, has been growing at an impressive clip in the US, but has experienced some well-publicized operational challenges​​, and continues to generate significant net losses; while Danone – a leading player in plant-based milks overall through its Silk brand, has not (yet) made it into the top three in the oatmilk subsegment, and has not set the world on fire with its Nextmilk​​ offering (which combines oatmilk with coconut and soy).

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