Oatly Group AB (OTLY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el paisaje en rápida evolución de la nutrición basada en plantas, el grupo AB de avena se ha convertido en una fuerza pionera, transformando cómo los consumidores piensan sobre las alternativas de lácteos a través de su innovador modelo de negocio. Al combinar sin problemas la sostenibilidad, la nutrición y la tecnología de vanguardia, Oatly ha interrumpido los mercados lácteos tradicionales y capturado la imaginación de los consumidores conscientes de la salud en todo el mundo. Esta profunda inmersión en el lienzo del modelo de negocio de Oatly revela la brillantez estratégica detrás de su éxito global, ofreciendo información sobre cómo una startup sueca revolucionó la industria alimentaria desafiando la producción láctea convencional y creando una narrativa convincente en torno al consumo basado en plantas.

Oatly Group AB (Otly) - Modelo de negocios: asociaciones clave

Asociaciones colaborativas con productores de agricultura sostenible

Oatly ha establecido asociaciones con agricultores de avena en múltiples regiones para garantizar un abastecimiento sostenible:

Región	Número de granjas de socios	Volumen de avena anual
Suecia	350	120,000 toneladas métricas
Canadá	250	85,000 toneladas métricas
Estados Unidos	175	60,000 toneladas métricas

Acuerdos de distribución con las principales cadenas de comestibles y minoristas

Oatly ha asegurado asociaciones de distribución con minoristas clave:

• Starbucks (asociación global)
• Walmart (1.200 tiendas en América del Norte)
• Kroger (2,800 tiendas en Estados Unidos)
• Tesco (600 tiendas en el Reino Unido)
• Carrefour (múltiples mercados europeos)

Alianzas estratégicas con el servicio de alimentos y las industrias de la hospitalidad

Pareja	Tipo de colaboración	Alcance geográfico
Starbucks	Proveedor exclusivo de leche de avena	América del Norte, Europa
Dunkin 'Donuts	Integración de menú	Estados Unidos
Costa Café	Asociación del menú de bebidas	Reino Unido, Europa

Asociaciones con innovadores de tecnología alimentaria a base de plantas

Iniciativas de desarrollo de tecnología colaborativa:

• Universidad Agrícola Suecia (Asociación de Investigación)
• Universidad de Wageningen (investigación agrícola sostenible)
• Grupo climático neutral (tecnologías de reducción de carbono)

Socio de investigación	Área de enfoque	Inversión
Universidad Agrícola sueca	Optimización de cultivos de avena	$ 2.5 millones anuales
Universidad de Wageningen	Técnicas agrícolas sostenibles	$ 1.8 millones anuales

Oatly Group AB (Otly) - Modelo de negocio: actividades clave

Desarrollo de productos alternativos de leche de avena y lácteos

Oatly invirtió $ 45.7 millones en investigación y desarrollo en 2022. El desarrollo de productos se centra en la creación de alternativas basadas en plantas en múltiples categorías.

Categoría de productos	Inversión de desarrollo anual
Variantes de leche de avena	$ 18.3 millones
Alternativas de yogurt	$ 12.5 millones
Alternativas de helado	$ 9.2 millones
Productos para cocinar	$ 5.7 millones

Procesos de fabricación sostenibles

Oatly opera 6 instalaciones de producción a nivel mundial con objetivos de reducción de carbono.

• Reducción de las emisiones de gases de efecto invernadero en un 38% por litro de producto
• Consumo de agua reducido en un 25% en procesos de fabricación
• Uso de energía renovable al 62% en las instalaciones de producción

Marketing y posicionamiento de marca en nutrición a base de plantas

El gasto de marketing alcanzó los $ 87.3 millones en 2022, lo que representa el 22% de los ingresos totales.

Canal de marketing	Porcentaje de asignación
Marketing digital	45%
Campañas de redes sociales	25%
Medios tradicionales	15%
Marketing experimental	15%

Estrategias de expansión global y penetración del mercado

Oatly opera en 20 países con planes de expansión del mercado estratégico.

• Crecimiento de ingresos del 21,4% en los mercados internacionales en 2022
• Instalaciones de fabricación establecidas en Estados Unidos y China
• Se dirige al 30% de penetración adicional del mercado en la región de Asia y el Pacífico

Investigación e innovación en tecnologías de proteínas alternativas

El presupuesto de innovación asignó $ 22.6 millones específicamente para la investigación de tecnología de proteínas en 2022.

Área de enfoque de investigación	Monto de la inversión
Tecnologías de extracción de proteínas	$ 9.4 millones
Mejora nutricional	$ 7.2 millones
Optimización de textura	$ 6 millones

Oatly Group AB (Otly) - Modelo de negocio: recursos clave

Instalaciones avanzadas de procesamiento de avena

Oatly opera múltiples instalaciones de producción a nivel mundial con una capacidad de producción total de 450 millones de litros por año a partir de 2023. La compañía tiene sitios de fabricación en:

Ubicación	Capacidad (millones de litros/año)	Año establecido
Landskrona, Suecia	250	2014
Millville, EE. UU.	120	2019
Singapur	80	2021

Cartera de propiedades intelectuales

Avanza 42 patentes registradas relacionado con la tecnología de procesamiento de avena a partir de 2023. Las áreas clave de patentes incluyen:

• Métodos de extracción de proteínas de avena
• Técnicas de mejora nutricional
• Procesos de optimización de sabores

Reputación de la marca centrada en la sostenibilidad

Métricas de valoración de la marca para Oatly:

Métrico	Valor	Año
Valor de marca	$ 850 millones	2023
Calificación de sostenibilidad	A-	2023

Red de cadena de suministro global

Detalles de la cadena de suministro:

• Proveedores activos: 127
• Países con abastecimiento directo: 15
• Asociaciones agrícolas totales: 83

Equipo de investigación y desarrollo

I + D Inversión y composición del equipo:

Categoría	Métrico	Valor
Empleados de I + D	Personal total	186
Inversión de I + D	Gasto anual	$ 24.3 millones
Innovación de productos	Nuevos productos/año	7-9

Oatly Group AB (Otly) - Modelo de negocio: Propuestas de valor

Alternativas de lácteos a base de plantas ambientalmente sostenibles

La huella de carbono de Oatly por litro del producto: 0.44 kg de CO2E en comparación con 1.14 kg de CO2E para leche láctea. Reducción del 61,4% en emisiones de gases de efecto invernadero.

Categoría de productos	Reducción de la huella de carbono	Impacto ambiental anual
Leche de avena	61.4%	Ahorra 18,000 litros de agua por cada 1,000 litros producidos
Yogurt de avena	58.2%	Reduce el uso de la tierra en un 70% en comparación con los lácteos

Productos a base de avena nutricionalmente equilibrados

Nutricional profile por 100 ml de leche de avena de grasa completa:

• Proteína: 1.0g
• Grasa: 3.0g
• Carbohidratos: 6.5g
• Calcio: 120 mg (valor diario 12%)
• Vitaminas agregadas: B12, D2, Riboflavina

Opciones de alimentos innovadoras y modernas

Datos de penetración del mercado para alternativas basadas en plantas:

Segmento de productos	Cuota de mercado	Índice de crecimiento
Leche de avena	35%	18.5% año tras año
Lácteos a base de plantas	22%	15.3% de crecimiento anual

Huella de carbono reducida

Reducción total de la huella de carbono de Oatly en 2022: 127,000 toneladas métricas CO2E.

Gama de productos versátil

• Barista Edition Oat Milk
• Bebida de avena de chocolate
• Yogurt de avena
• Crema de avena
• Alternativas de helado

Variantes de productos totales: 16 líneas de productos diferentes en los mercados globales.

Oatly Group AB (Otly) - Modelo de negocios: relaciones con los clientes

Compromiso digital a través de plataformas de redes sociales

A partir del cuarto trimestre de 2023, mantenía avanzado 1.2 millones de seguidores de Instagram y 473,000 seguidores en Tiktok. La tasa de participación en las redes sociales promedió un 2,7% en todas las plataformas.

Plataforma social	Recuento de seguidores	Tasa de compromiso
Instagram	1,200,000	3.1%
Tiktok	473,000	2.3%
Gorjeo	287,000	1.9%

Canales de ventas en línea directos al consumidor

La plataforma de comercio electrónico de Oatly generó $ 42.3 millones en ingresos de ventas directas en 2023, lo que representa el 12.6% de los ingresos totales de la compañía.

• Tasa de conversión de ventas en línea: 3.7%
• Valor promedio de pedido en línea: $ 37.50
• Tráfico móvil: 68% del tráfico total en línea

Construcción de la comunidad sobre iniciativas de sostenibilidad

Oatly invirtió $ 5.2 millones en campañas de marketing de sostenibilidad en 2023, dirigida a consumidores conscientes del medio ambiente.

Campaña de sostenibilidad	Inversión	Alcanzar
Reducción de la huella de carbono	$ 2.1 millones	3.5 millones de consumidores
Promoción de estilo de vida a base de plantas	$ 1.8 millones	2.9 millones de consumidores

Comunicación transparente sobre los orígenes del producto

Oatly publicó informes integrales de sostenibilidad que detallan el 97% de transparencia en el abastecimiento de ingredientes y los procesos de producción.

Comentarios de los clientes y programas de co-creación

La plataforma de comentarios de los clientes recibió 28,400 presentaciones en 2023, con el 62% de las sugerencias consideradas para el desarrollo de productos.

• Tasa de iteración del producto: 4.3 Modificaciones de nuevos productos por año
• Puntuación de satisfacción del cliente: 8.2/10
• Tasa de retención de clientes: 73%

Oatly Group AB (Otly) - Modelo de negocio: canales

Sitios web de comercio electrónico

Oatly vende directamente a través de su sitio web oficial Oatly.com, que generó $ 14.2 millones en ventas directas en línea en 2022.

Plataforma de comercio electrónico	Volumen de ventas anual
Sitio web oficial de avena	$ 14.2 millones (2022)
Amazonas	$ 8.7 millones (2022)

Tiendas minoristas de comestibles importantes

Oatly distribuye a través de más de 25,000 ubicaciones minoristas en América del Norte y Europa.

• Walmart: 4,700 tiendas
• Objetivo: 1.900 tiendas
• Kroger: 2,800 tiendas
• Whole Foods: 500 tiendas

Tiendas de alimentos saludables especiales

Minorista especializado	Número de tiendas
Sprouts Farmers Market	380 tiendas
Supermercado natural	159 tiendas

Servicio de alimentos y distribución de hospitalidad

Oatly sirve 12,500 cafeterías y restaurantes en 20 países.

• Starbucks: 3.200 ubicaciones
• Dunkin 'Donuts: 2.800 ubicaciones
• Cafés independientes: 6.500 ubicaciones

Mercados en línea

Mercado en línea	Venta anual
Amazonas	$ 8.7 millones
Instacart	$ 5.3 millones

Oatly Group AB (Otly) - Modelo de negocio: segmentos de clientes

Millennials conscientes de la salud y la generación Z

Según los datos de Nielsen IQ de 2023, el 68% de los consumidores de Millennials y Gen Z priorizan la nutrición basada en plantas. Oatly se dirige a este grupo demográfico con líneas de productos específicas.

Grupo de edad	Porcentaje de consumo	Poder adquisitivo anual
Millennials (25-40)	42%	$ 3,200 por año
Gen Z (18-24)	26%	$ 1,800 por año

Consumidores conscientes del medio ambiente

La sostenibilidad ambiental impulsa la elección del consumidor para el mercado objetivo de Oatly.

• Reducción de la huella de carbono: 73% más baja que la leche láctea
• Uso de agua: 92% menos consumo de agua en comparación con la producción de lácteos
• Segmento de consumo consciente del clima: crecer al 12.4% anual

Individuos intolerantes a la lactosa

La prevalencia global de intolerancia a la lactosa afecta significativamente la estrategia del mercado de Oatly.

Región	Tasa de intolerancia a la lactosa	Tamaño potencial del mercado
América del norte	36%	$ 124 millones
Europa	25%	$ 98 millones
Asia-Pacífico	90%	$ 215 millones

Poblaciones vegetarianas y veganas

Las tendencias dietéticas globales basadas en plantas apoyan el posicionamiento del mercado de Oatly.

• Población vegana global: 79 millones en 2023
• Crecimiento del mercado vegetariano: 9.6% anual
• Valor de mercado de la leche a base de plantas: $ 22.3 mil millones en 2023

Demografía del consumidor urbano y educado

La principal base de consumidores de Oatly demuestra características socioeconómicas específicas.

Característica demográfica	Porcentaje	Ingresos promedio
Residentes urbanos	65%	$ 75,000 anualmente
Educación superior	58%	$ 85,000 anualmente
Ocupaciones profesionales	47%	$ 92,000 anualmente

Oatly Group AB (Otly) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

A partir de 2023, los costos de materia prima de Oatly para la producción de la base de avena fueron de aproximadamente $ 0.35- $ 0.45 por litro. Los gastos de adquisición clave incluyen:

Materia prima	Costo de adquisición anual
Avena orgánica	$ 42.5 millones
Aceite de colza	$ 8.3 millones
Ingredientes adicionales	$ 12.7 millones

Gastos de fabricación y producción

Los costos de producción para Oatly en 2023 incluyeron:

• Sobrecoss de fabricación total: $ 187.6 millones
• Gastos operativos de la instalación de producción: $ 63.4 millones
• Mantenimiento del equipo: $ 11.2 millones
• Consumo de energía: $ 9.7 millones

Marketing y desarrollo de la marca

Los gastos de marketing para Oatly en 2023 fueron significativos:

Categoría de marketing	Gastos
Marketing digital	$ 24.5 millones
Publicidad tradicional	$ 18.3 millones
Desarrollo de campaña de marca	$ 12.7 millones

Inversiones de investigación y desarrollo

Gastos de I + D para Oatly en 2023:

• Inversión total de I + D: $ 35.6 millones
• Desarrollo de nuevos productos: $ 22.4 millones
• Innovación de procesos: $ 8.9 millones
• Investigación nutricional: $ 4.3 millones

Costos de distribución y logística

Desglose de gastos de distribución para 2023:

Categoría de logística	Costo anual
Transporte	$ 47.3 millones
Operaciones de almacén	$ 22.6 millones
Embalaje	$ 16.9 millones
Envío internacional	$ 12.4 millones

Oatly Group AB (Otly) - Modelo de negocios: flujos de ingresos

Ventas directas de productos

En 2022, Oatly informó ventas netas de $ 692.4 millones. El desglose de las ventas de productos incluye:

Categoría de productos	Ingresos ($ M)	Porcentaje
Avena líquida	468.3	67.6%
Alternativas de yogurt	112.5	16.2%
Productos para cocinar	68.7	9.9%
Otros productos	42.9	6.3%

Ingresos de distribución minorista

Los ingresos por canales minoristas en 2022 alcanzaron $ 524.1 millones, con mercados clave:

• Estados Unidos: $ 285.6 millones
• Suecia: $ 89.2 millones
• Alemania: $ 72.4 millones
• Reino Unido: $ 53.5 millones

Servicio de alimentos y contratos de hospitalidad

Los ingresos por servicios de alimentos en 2022 totalizaron $ 112.7 millones, que incluyen:

Segmento	Ingresos ($ M)
Cafeterías y cafeterías	67.3
Restaurantes	45.4

Expansión del mercado internacional

Los ingresos del mercado internacional en 2022 fueron de $ 456.8 millones en todas las regiones:

• América del Norte: $ 312.5 millones
• Europa: $ 118.9 millones
• Asia-Pacífico: $ 25.4 millones

Canales de ventas digitales y de comercio electrónico

Las ventas digitales en 2022 representaron $ 64.3 millones, con tasas de crecimiento:

Canal	Ingresos ($ M)	Crecimiento año tras año
Ventas directas en línea	38.7	22.3%
Comercio electrónico de terceros	25.6	18.5%

Oatly Group AB (OTLY) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Oatly Group AB over the competition, and honestly, it's a mix of being first, being better in key areas, and having a mission that resonates.

Original and largest oat drink company globally

Oatly Group AB holds the title of the world's original and largest oat drink company. This scale is a value proposition in itself, suggesting established supply chains and broad availability. By the third quarter of 2025, the company's reported revenue stood at $222.8 million for that quarter alone. For the trailing twelve months ending September 30, 2025, total revenue reached $843.00 million.

The market context shows this leadership matters. The global oat drink market was projected to be valued at $878.61 million in 2025.

The reception of the core product line varies by geography, which is important to note when assessing market penetration:

Region	Q2 2025 Revenue (in thousands of USD)	Year-over-Year % Change (As Reported)
Europe & International	$118,193	12.0%
North America	$63,185	-6.8%
Greater China	$26,976	-6.4%

Superior taste and performance, especially the Barista product line

The creamy texture and performance in coffee applications are key differentiators. The Barista portfolio specifically drives significant growth. For instance, in Europe and international markets, the Barista line saw a 13% increase, acting as a major growth engine.

The focus on quality is reflected in operational metrics; the gross margin for the second quarter of 2025 reached 32.5%, a 330 basis point increase year-over-year, showing pricing power and efficiency in delivering that quality.

The company is also focused on profitability, achieving a positive Adjusted EBITDA of $3.1 million in the third quarter of 2025.

Commitment to sustainability (recognized as a Climate Solutions Company)

Oatly Group AB became the world's first food and beverage company recognized as a Climate Solutions Company by the Exponential Roadmap Initiative (ERI) in 2025. This recognition validates their climate-forward approach.

The value proposition is backed by measurable, science-aligned targets:

• Reduce emissions intensity by 40% per liter by 2030 (against a 2020 baseline).
• Target a 70% reduction by 2040 and an 89% reduction by 2050.
• Aim for 90% of revenue by 2030 to come from products with at least 60% less climate impact than average dairy.
• The flagship oat drink has a climate footprint of 0.44 kg CO₂e per litre, representing an 86% reduction versus average dairy milk.
• Commitment to implement regenerative agriculture across one-third of its oat supply acres by 2030.

Broad portfolio of oat-based dairy alternatives (milk, ice cream, yogurt)

The offering extends beyond the core oat drink. The portfolio includes ice cream and yogurt, catering to a broader set of consumer needs within the plant-based category. Shelf-stable oat drinks, a key format across the portfolio, dominated the market share in 2025, accounting for 61.3% of the format sales.

The company is actively managing its footprint, having consolidated manufacturing to five global plants with a production capacity of 900 million liters, while reducing expected capital expenditures to approximately $20 million for the full year 2025.

Oatly Group AB (OTLY) - Canvas Business Model: Customer Relationships

You're looking at how Oatly Group AB manages its connections with the people buying and selling its products as of late 2025. It's a multi-pronged approach, heavily leaning on the professional side to drive consumer trial.

High-touch engagement with the professional barista community remains central, especially where the company sees its best growth. The Barista portfolio, for instance, was cited as the largest growth driver with a 13% increase in Europe and international markets based on early 2025 outlook figures. The strategy here is to move beyond just being a cow's milk substitute; they want Oatly to be the 'default experience canvas' in foodservice. This is executed by an internal team of baristas who test recipes and stay current on coffee trends, arming the sales force with on-the-street knowledge when talking to chains.

The refreshed growth playbook, which drove 12% revenue growth in the Europe and International segment in Q3 2025, is all about relevance to the 'taste and flavour-obsessed Gen Z'. This playbook is designed to 'attack barriers to conversion' and increase distribution, which is the core of their targeted marketing effort.

For large retail and foodservice partners, the relationship management is clearly segmented by geography, showing distinct levels of success and dependency. For example, in Europe and International in Q3 2025, 79% of sales came from the retail channel, while the Greater China segment saw two-thirds of its $37.4M revenue come from foodservice. The company has also been actively managing its exposure to single large partners, reporting that it has 'successfully reduced its dependence on its largest food service customer' following a significant revenue drop in North America.

Here's a quick look at how the key channels and regions performed in Q3 2025, reflecting the outcomes of these partner relationships:

Segment/Channel	Q3 2025 Revenue (USD Millions)	Year-over-Year Revenue Change	Key Relationship Factor
Europe & International (Total)	$123.3M	+12%	Strong execution of the refreshed playbook
Europe & International (Retail)	Approx. $97.4M (79% of E&I)	Retail grew 11%	Retail channel outpaced foodservice growth in the quarter
Greater China (Total)	$37.4M	+29% (Constant Currency)	Strategic review ongoing to maximize value
North America (Total)	$62.1M	-10.1%	Decline driven by sourcing strategy change at a large customer
North America (Foodservice)	N/A	-22%	Largest customer sourcing change was the primary driver

The focus on brand-building and taste is a direct attempt to influence consumer choice, which then feeds back into the retail and foodservice relationships. The company is definitely working hard to make sure its brand presence is felt.

• Europe & International EBITDA Margin reached 18% in Q3 2025, a 700 basis point improvement year-over-year.
• Volume growth in Europe & International was strong at 8% in Q3 2025.
• The company is deploying its playbook in North America in the second half of the year, following promising European signs.
• R&D expenses decreased to $4.4 million in Q1 2025, showing cost discipline that supports reinvestment in growth.

Finance: draft 13-week cash view by Friday.

Oatly Group AB (OTLY) - Canvas Business Model: Channels

You're looking at how Oatly Group AB gets its oat-based products into the hands of consumers and business partners as of late 2025. The distribution strategy is clearly segmented by geography, with different channel priorities in Europe & International versus North America and Greater China.

The Retail channel, covering supermarkets and hypermarkets, remains the bedrock of the Europe & International business. For the first quarter of 2025, this channel accounted for 79% of the Europe & International revenue, a slight dip from 82% the prior year, suggesting a relative increase in other channels or slower retail growth there. In contrast, North America saw its retail penetration increase, with retail making up approximately 60% of its revenue in Q1 2025, up from 54% the year before. By the second quarter of 2025, this North America retail mix was reported at 59%.

The Foodservice channel-cafés, coffee shops, and restaurants-shows a different regional skew. In Greater China, foodservice was the dominant channel in Q1 2025, contributing approximately 76% of that region's revenue. However, by the third quarter of 2025, this share had moderated to about 66% of Greater China revenue. The North America segment faced headwinds in this channel; the 10.1% revenue decline in Q3 2025 was primarily attributed to reduced sales to a major foodservice customer. Still, North America retail sales in Q3 2025 were aided by strong club growth, pointing to success in that specific retail sub-channel.

Here's a quick look at the reported channel revenue mix percentages for the first half of 2025 in key regions:

Region	Channel Focus	Percentage of Segment Revenue (Q1 2025)	Latest Reported Performance Context (Q3 2025)
Europe & International	Retail	79%	Revenue grew 12.2% year-over-year
North America	Retail	60%	Overall segment revenue declined 10.1%
Greater China	Foodservice	76%	Foodservice share decreased to 66% of segment revenue

The company's overall revenue for Q3 2025 reached $222.8 million. The Europe & International segment generated $118.2 million in revenue in Q2 2025. North America's Q2 2025 revenue was $63.2 million, and Greater China's was $27.0 million.

Regarding E-commerce and direct-to-consumer online sales platforms, specific revenue breakdowns weren't explicitly detailed in the latest reports, but the overall strategy involves navigating a dynamic environment while focusing on profitable growth. The focus on supply chain efficiency and cost reduction suggests a prioritization of high-volume, profitable routes, which often means optimizing traditional retail and foodservice partnerships first.

For Club stores and specialty health-food retailers, the data points toward this being a growth area within the broader retail channel, specifically noted as aiding North America retail sales in the third quarter of 2025. This implies targeted expansion within specific, high-potential retail formats beyond just traditional supermarkets.

• Europe & International saw Barista portfolio growth of 13%, a key driver in that market.
• North America retail achieved double-digit growth excluding its largest customer.

Finance: draft 13-week cash view by Friday.

Oatly Group AB (OTLY) - Canvas Business Model: Customer Segments

You're looking at Oatly Group AB's customer base as of late 2025, and the story is one of geographic divergence and channel focus. The total revenue for the third quarter of 2025 hit $222.8 million, which was a 7.1% increase year-over-year. Still, the full-year constant currency revenue growth guidance is a cautious flat to +1%.

Environmentally and health-conscious consumers (Millennials/Gen Z)

This group is central to the brand's identity, especially in Europe where the strategy is hitting the bull's eye for these generations. The company's COO noted a focus on making menus and shelves relevant for the taste and flavour-obsessed Gen Z. The Europe & International segment, the clear revenue engine, saw revenue increase by 12% in Q3 2025. This region drove 79% of its sales through the retail channel in Q3 2025.

Professional baristas and high-volume coffee shops

The foodservice channel remains a key target, though it's showing significant regional variation. In Greater China, 66% of the revenue in the third quarter of 2025 came from the foodservice channel, down from 72% in the prior year period. The North America segment, however, saw a major headwind here; total North America Foodservice revenue decreased 22% year-over-year in Q3 2025. That segment's volume was down by 12.8% in Q3 2025, largely due to a reduction in sales to the segment's largest foodservice customer. To be fair, that largest client now only represents 10% of the North America business, down from 30% three years ago, showing some diversification progress.

Lactose-intolerant and plant-based/vegan consumers

This is the foundational group driving the overall category demand. While specific demographic spend data for this segment isn't explicitly broken out in the latest reports, the company's core product offering directly serves this need. The overall sold finished goods volume for Oatly Group AB in Q3 2025 increased by 6.6% to 150.6 million liters compared to Q3 2024.

Mass-market consumers seeking a dairy alternative

The retail channel is where the mass market is captured, and it's performing strongly in the core European market. For the Europe & International segment in Q3 2025, 79% of sales came from retail. In North America, the retail channel accounted for approximately 59% of revenue in Q2 2025, up from 52% the prior year, suggesting a shift in focus or consumer preference within that region away from foodservice. The company's full-year 2025 Adjusted EBITDA guidance is positive, projected between $5 million and $15 million.

Here's a quick look at the segment revenue breakdown from the second quarter of 2025, which totaled $208.4 million:

Geographic Segment	Q2 2025 Revenue (USD)	YoY Revenue Change	Key Channel Data Point
Europe & International	$118.2 million	+12.0%	79% of sales from Retail (Q3 2025)
North America	$63.2 million	-6.8%	Foodservice revenue decreased 22% YoY (Q3 2025)
Greater China	$27.0 million	-6.4%	66% of revenue from Foodservice (Q3 2025)

The company is definitely prioritizing operational discipline, as evidenced by the Q1 2025 gross margin reaching 31.6%. Finance: draft 13-week cash view by Friday.

Oatly Group AB (OTLY) - Canvas Business Model: Cost Structure

You're looking at Oatly Group AB's cost base as of late 2025, focusing on where the cash is going to support their path to sustained profitability. The company has been aggressively managing its expenditures, which is clear when you look at the recent Selling, General, and Administrative (SG&A) figures.

The primary cost drivers remain the same: getting the oats, turning them into product, and getting that product onto the shelves or into foodservice partners' hands. Oatly Group AB has been focused on supply chain efficiencies to combat the inflation that was pressuring costs for oats, packaging, and co-packing fees, which they noted as expected pressures back in 2022.

The commitment to cost control is evident in the operational expense trends. For instance, the Cost of Goods Sold (COGS) per liter saw a reduction of 15% year-on-year as of Q1 2025, and a 6% reduction compared to the preceding quarter, showing that manufacturing and supply chain cost management is a real focus area. This efficiency helped push the gross margin up to 32.5% in Q2 2025.

Here's a look at the recent overhead spend, which they are actively working to reduce:

• Selling, General, and Administrative (SG&A) expenses for Q2 2025 were reported at $84.1 million.
• SG&A expenses further decreased to $75.1 million in Q3 2025.
• Research and development expenses for Q2 2025 were $4.6 million, down significantly from $10.9 million the prior year.

The company's investment profile is also shifting. They've scaled back on major infrastructure spending. The projected Capital Expenditures (CapEx) for the full year 2025 have been revised down to approximately $20 million. That's a notable drop from earlier projections that hovered between $30 million and $35 million, reflecting a more asset-light approach following decisions like discontinuing construction on a facility in China.

To give you a clearer picture of the expense scale relative to sales for the recent quarters, check out this breakdown. We'll use the Q2 2025 revenue of $208.4 million as the base for comparison, since it's the most recent complete quarterly revenue figure available alongside the SG&A data, though Q3 revenue was $222.80 Mil.

Cost Component	Latest Reported Period	Amount (in thousands of U.S. dollars)
Revenue (As Reported)	Q2 2025	$208,400
Selling, General, and Administrative (SG&A) Expenses	Q3 2025	$75,100
Selling, General, and Administrative (SG&A) Expenses	Q2 2025	$84,100
Projected Full Year 2025 Capital Expenditures (CapEx)	2025 Guidance	$20,000
Cost of Goods Sold Reduction (YoY as of Q1 2025)	Q1 2025	15%

You can see the SG&A reduction is happening, but the absolute dollar amount is still substantial relative to the revenue base. Finance expenses are also a major cost factor, with Q3 2025 finance expenses hitting $47.6 million, largely due to fair value losses on Convertible Notes.

Finance: draft 13-week cash view by Friday.

Oatly Group AB (OTLY) - Canvas Business Model: Revenue Streams

You're looking at how Oatly Group AB brings in money, which is really about where they sell their oat-based products across different channels and geographies. The revenue streams are clearly segmented by customer type and product category, which is key for understanding their overall financial health.

The core of the revenue comes from sales of oat-based drinks, including flagship items like the Barista Edition, moving through various channels. You can see this split in regional performance; for instance, in North America, the total retail revenue for the third quarter of 2025 reached $38 million, showing growth aided by strong club distribution performance. This retail stream is a major focus for shelf presence.

High-volume sales to foodservice partners represent another critical stream. While the total company revenue for the third quarter of 2025 was $222.8 million, the foodservice component within specific regions gives context to this channel's importance. For example, in Greater China during Q3 2025, approximately 66% of that segment's revenue came from the foodservice channel, showing a strong reliance on business-to-business sales there.

Oatly Group AB is also generating revenue from its expanding portfolio of non-drink products, such as oat ice cream and yogurt alternatives, though specific revenue breakdowns for these are often bundled into segment totals. The company's overall financial performance is anchored by its guidance for the full year 2025, where they are targeting profitability.

Here's a look at the key financial metrics related to revenue and profitability targets for the full year 2025:

Metric	Value/Guidance	Context/Period
Q3 2025 Total Revenue	$222.8 million	Reported for the three months ended September 30, 2025
Full-Year 2025 Adjusted EBITDA Guidance	Positive $5 million to $15 million	Reaffirmed outlook for the full fiscal year 2025
North America Retail Revenue	$38 million	Q3 2025
Europe & International Segment Revenue Growth	12.2%	Year-over-year growth in Q3 2025
Greater China Segment Revenue Growth	28.8%	Year-over-year growth in Q3 2025 (constant currency)

You should keep an eye on how the different geographic segments contribute to the overall top line, as performance varies quite a bit. The revenue streams are definitely being shaped by regional execution.

• Sales of oat-based drinks to retail channels, exemplified by North America retail at $38 million in Q3 2025.
• High-volume sales to foodservice partners, which constituted approximately 66% of Greater China revenue in Q3 2025.
• Sales of non-drink products like oat ice cream and yogurt alternatives, which are part of the total revenue base.
• The company's financial goal is to achieve a full-year 2025 Adjusted EBITDA in the range of positive $5 million to $15 million.

Honestly, the mix between retail and foodservice is definitely shifting based on regional strategy.