Based on the case study "Got Milk? The Evolution of the Plant-Based Milk Industry". Elaborate in detail.

Oatly Enters the World of PBMs Sustainability is at the core of our business and actionable in our products: on average, a liter of Patly product consumed in place of cow's milk results in around 80% less greenhouse gas emissions, 79% land usage, and 60% less energy consumption. This equation is our primary mechanism for impact. Our products make it easy for people to turn what they eat and drink into personal moments of healthy joy without excessively taxing the planet's resources in the process. Oatly AB. IPO Prospectus Oatly had been a well-kept secret for over three decades before it seemingly came out of nowhere to raise $1.4 billion in a resoundingly successful offering of its shares on the New York Stock Exchange that valued the company at $10 billion. The quirky Swedish company with a distinct environmental message had clearly arrived on the global scene. Oatly had its start in 1994, established by brothers Rickard and Bjorn Oeste, who were attempting to produce a dairy milk substitute for people who were lactose intolerant. The company had been marketing an oat-based product that had quite limited distribution and market penetration until the current CEO, Toni Petersson, took over the reins in 2014. He had been engaged with the company since 2012 and was already focused on the environmental relevance of what Oatly was doing. Oatly had already been through the entrepreneurial and commercialization stages when its founders attempted to sell additives to the dairy products industry and license its process technologies. Unfortunately, there were few takers and, therefore, when Petersson arrived, the firm was in a consolidation phase where it was attempting to grow into a food company with a broader range of products. CEO Petersson brought a very interesting and rich background with considerable experience across a wide range of products and services that included everything from consumer retail brands to luxury products, night clubs, cafes, real estate, and lifestyle offerings. Born to Japanese parents in Sweden, Toni Petersson had followed a business track in his formal education with degrees in marketing strategy, finance, and management, after a degree in the natural sciences. His various forays prior to Oatly had brought him a lot of global exposure in countries across Europe and parts of Central America. He seemed to have a rather unconventional approach to management as evidenced by his introduction to a global audience as the pitchman for an Oatly commercial that aired during the Super Bowl in the U.S. in 2021. The spot was reportedly developed entirely by Petersson and 4 A08-21-0015