At first glance, oats and coconuts have little in common. But they certainly share one thing: as milk alternative products, both products are flying off the shelves.
According to Circana, a Chicago-based market research firm, for the 52 weeks ending June 18, overall refrigerated oat milk dollar sales rose 21% to $554 million, while unit sales rose by 5% to 122 million. Leading this category in dollar sales for the recent 52-week period was Planet Oat. The HP Hood Inc. brand saw its dollar sales increase 16% year over year (YoY) to $193 million. However, its unit sales, at –0.5%, dipped slightly to 45 million.