Chobani gained fame across North America for popularizing Greek yogurt, however, in recent years it has expanded into new markets including oat milk, oat-based yogurt, plant-based coffee creamers, and vegan probiotic drinks. The company recently launched a new dairy product line, Chobani Ultra-Filtered Milk, but has now dropped it. The company has not revealed the exact reasons for the discontinuation.
As first reported by Food Dive, one possible reason could have been rising inflation, although with the conventional dairy industry suffering stagnation and plant-based alternatives continuing their explosive growth, it is possible Chobani saw no viable future for the dairy milk range. The company has also announced plans to delay its IPO until later this year or 2023 due to several external factors.
“We have come to the tough conclusion that it does not make sense for Chobani to be in the dairy milk business at this time,” the company stated. “We did look at ways to evolve in order to continue servicing our customers, but at the end of the day, we thought it would be best to focus our resources and prioritize our core products, like yogurt, coffee creamers and oatmilk.”