Oatly, a Swedish plant-based dairy producer has announced the launch of its new plant-based cream cheese in the US. It will be available in Plain and Chive and Onion varieties and begins nationwide retail rollout in 2H 2023.

The plant-based cream cheese is made using Oatly’s proprietary oat base and claims to be free from dairy, gluten, and GMOs. According to the company, it offers a similar taste, texture, and performance as traditional cream cheese, making it an ideal alternative for applications such as spreading on bagels, enhancing recipes, or using it as a condiment.

Analyst QuickTake: Oatly delivered a strong start to the year by reporting a 17.7% YoY increase in revenues in Q1 2023 , primarily driven by sales volume increases in EMEA and the Americas regions. If performed as expected, these new product rollouts can help the company achieve a 23%–28% increase in revenue for FY2023 as per the revenue guidance.