Vegan Milk Company 'Zzimmed' by Oprah Winfrey Plans New York IPO Valued at 11 Trillion Won

'Oatley' Producing Oat Milk, Yogurt, Ice Cream... Natalie Portman, Jay-Z, Blackstone Invest

[Image source= Capture from Oatley website]

[Asia Economy Reporter Byunghee Park] Swedish vegan food company Oatly, which attracted attention with investments from famous American stars such as Natalie Portman, Oprah Winfrey, and Jay-Z, is aiming to enter the New York Stock Exchange.

On the 23rd (local time), according to the Financial Times, Oatly submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC). Oatly added that the IPO will take place depending on market conditions after SEC review.

Oatly is a vegan food manufacturer headquartered in Malm?, Sweden. It mainly produces milk using oats and also makes yogurt, ice cream, and more. Oatly entered the U.S. market in 2016.

Recently, the plant-based milk market in the U.S. has been rapidly growing. Market research firm SPINS estimated that last year the U.S. plant-based milk market grew by 23% to reach $2.2 billion (approximately 2.44 trillion KRW).

Among these, the almond milk market size is $1.3 billion, accounting for more than half of the entire plant-based milk market. However, oat milk is rapidly growing in the plant-based milk market. Last year, the oat milk market size tripled to $288 million. It surpassed soy milk and rose to second place in the plant-based milk market after almond milk. Since the outbreak of the COVID-19 pandemic last year, negative perceptions of livestock farming have spread, increasing interest in the vegan food market. Besides Oatly, Greek yogurt producer Chobani, headquartered in New York, is also reportedly preparing for an IPO.

Last year, Oatly attracted $200 million in investments from private equity firm Blackstone as well as Natalie Portman, Oprah Winfrey, and Jay-Z, drawing attention. At that time, Oatly's corporate value was estimated at $2 billion. According to market insiders, Oatly's market value is expected to be valued at up to $10 billion through the IPO.

This content was produced with the assistance of AI translation services.