Oatly Bets on Fiber Drinks for North America Turnaround

Oatly is putting fiber at the center of its plan to revive sales in North America. The company launches fiber-rich oat milks there in January, and an executive says they could be the turning point it is waiting for.

A category that keeps shrinking

The $2.7 billion plant-based milk category has been shrinking in recent years, with shoppers drifting back to regular dairy. According to the Good Food Institute, plant-based milk dollar sales fell 2% in 2025, while traditional milk sales grew 2%.

Oatly's own results have been uneven. For years it has had trouble earning a profit, and it has sold off most of its American manufacturing assets. Strength in Europe gave it a first year of profitable growth in 2025, and its latest report showed third-quarter revenue up 9.1% on the prior year.

The fiber gap Oatly wants to fill

According to the USDA, more than 90% of women and 97% of men eat less fiber than U.S. recommendations call for. A survey by the International Food Information Council found that virtually all participants wanted or needed to eat more of it.

Oats are a natural source of fiber, and Oatly plans to lean on that as it presents itself as a functional drink, not just a substitute for milk.

What goes on sale in January

The functional milks reach North America in January. They are already sold in Europe.

One option has few calories and no sugar and is meant for protein shakes. A barista version with little sugar is aimed at coffee drinks. A 250-milliliter serving, about one oat latte, has 5 to 6 grams of fiber.

Oatly is chasing demand from GLP-1 users and health-conscious shoppers. Oatly is betting that fiber can help its still-challenged North American business, with nutrition drawing more attention and rising GLP-1 use lifting demand for functional ingredients.

How the company frames the bet

COO Daniel Ordonez said on the latest earnings call that Oatly rests on more than 30 years of oat research, which he said gives it unique legitimacy in fiber. He wants the company to be among the leaders in narrowing the fiber gap.

He also said Oatly is "moving away from this binary dairy versus plant-based debate". In that view, oat milk is a choice made for flavor, texture and nutrition.

On the U.S., Ordonez was upbeat. "This could be the turning point that we're expecting for North America," he said.

Our View

The fiber pitch steps around a dairy-versus-plant argument that the category has been losing. Two things remain unproven: whether shoppers will pay for fiber in a drink, and whether GLP-1 users make up a large enough group to matter. Sales after the January launch will be the first real evidence on the turning-point hope.

Source: Food Dive