Oatly is a plant-based beverage company that sells oat-based dairy alternatives, primarily oatmilk, to grocery retailers and foodservice operators globally. Oatly's core technology is a patented enzymatic process, developed in the early 1990s, that breaks down oats into liquid products while retaining beta-glucan fiber. Oatly's flagship product is Barista Edition Oatmilk, formulated specifically for coffee and espresso applications with superior foamability. Beyond Barista, Oatly sells a broader lineup of oatmilks, cooking creams, oatgurt, and frozen desserts, though management has deprioritized non-beverage categories in favor of drinks. Oatly sells through retail (~65% of revenue) and foodservice (~33%). A distinctive feature of Oatly's model is its foodservice-first market entry strategy: Oatly enters new markets through cafes and coffee shops, using that environment to build consumer awareness before consumers seek the product out in retail. Oatly deploys a dedicated team of over 60 Barista Market Developers to work directly with coffee shops to drive trial. Oatly operates three geographic segments: Europe & International (its most profitable), North America (its largest by sales), and Greater China (which Oatly is reviewing for a potential carve-out). Oatly manufactures its proprietary oat base at its own facilities, then distributes it to a mix of owned factories and co-manufacturers for finishing, balancing capital efficiency with quality control.