Oatly is pushing to simplify and streamline its operations after a disappointing quarterly earnings report that saw the Swedish oat product maker slash its 2023 revenue forecast from 23% to 28% to a dire 7% to 12%.

• Even so, the overall business is growing and sagging business in Asia (down -14%) was a particular focus, as the company announced actions around “simplification of the portfolio of products and reduced operating costs.”
• Last year’s optimistic outlook was driven in part by predictions of a “large post-pandemic tailwind” in Asia that “has not materialized,” admitted COO Daniel Ordoñez. As such, foodservice venues, which helped seed the brand in the U.S. market, are now being prioritized. 
• Oatly is targeting around $85 million in cost savings in 2024, with fewer project-related expenses, less spending on outside consulting and the elimination of certain jobs. 
• Overall Q2 revenue was up 10% ($196 million), with volume rising 3%. While the majority of revenue remains in Europe/Middle East/Africa, the Americas was Oatly’s fastest growing region, expanding 19.4% to over $61 million. 
• Marketing will not be part of those cuts, however. [Back in March], Ordonez noted that, with U.S. supply chain snags under control, “The reality is now we can unleash the power of the brand.”

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Los Angeles kombucha company Better Booch launched its kombucha-free, shelf-stable, prebiotic sparkling tea Cha last week to “scratch an itch" within the functional beverage set and diversify its gut-friendly portfolio with non-fermented options.

• Cha comes in 12 oz. cans and is available in four flavors: Tropical Green Tea, Hibiscus Ginger Lime, Tangerine White Tea and Yerba Mate Berry.
• Each variety has a different functional ingredient catering to a different need state: cordyceps for clarity, maca powder for stress relief, schisandra berry for vitality, and elderberry and yerba mate for immunity and energy.
• Better Booch closed a $2.5 million seed round in January 2022 and has built up its sales team as it has expanded its growth into over 3,000 retail locations.
• The move into the adaptogenic tea and soft drink category is a signal to the success of the set among consumers looking for gut-healthy beverages with functional benefits.

With a number of kombucha brands from Health-Ade and Brew Dr. to Humm taking a side-step into other probiotic and prebiotic soft drinks it begs the question: Is going booch-less a better way to booch?

Read the full story on BevNET.

We know plenty of adults who couldn’t develop a taste for kombucha… so why would anyone want to see if they could sell the functional, vinegar-y solution to kids? Ask Tim Tam Tummy – a new brand launched by Vermont-based AquaViTea Kombucha that believes it can renovate the kids’ drink aisle with “fruit forward flavors” and lower-sugar alternatives to even the most BFY juice box options. Even though traditional kombucha contains small volumes of alcohol, parents don’t have to worry about getting their kids buzzed; Tim Tam Tummy uses the same certified alcohol extraction process as Aqua ViTea’s other products. Do you have a pint-sized consumer ready to do a taste test? If so, we want to hear their thoughts.

Insiders can read the full article on BevNET for more on how Tim Tam wants to make kombucha kid-friendly.

In a season of historic under-performance from a team with an eye-watering payroll, at least New York Mets fans can enjoy some new beverage options at Citi Field this summer – though these likely won’t help drown any sorrows. After a successful pop-up in partnership with Absence of Proof earlier this month, the Mets have decided to fully integrate three zero-proof cocktails at many bars in their home park. The four-day event, sponsored by Cadillac and Dunkin’, brought a non-alcoholic experience to the stadium in Queens before four home games. 

• Three non-alc cocktails are now regular beverage menu items: a Coca-Cola and NA whiskey, a Moscow Mule mocktail, and a zero-proof Espresso Martini.
• The drinks will be served at the DeltaSky 360 Club, Piazza 31 Club, Hudson Whiskey Club and Caesars Sportsbook at the Metropolitan Grille among other locations.
• The net-proceeds of ticket sales from the original Absence of Proof pop-up event were donated to the Amazin’ Mets Foundation providing a $11,942 grant to Elmcor, a Queens-based nonprofit that supports behavioral health services, including substance abuse programs.
• Absence of Proof has not only been hosting non-alcoholic events in cities across the country, but launched a digital marketplace to buy NA spirits and beverages helping bring the message of inclusivity of non-drinking to mainstream social spaces.

Go Deeper: We spoke with Absence of Proof CEO Elizabeth Gascoigne and other female founders in the sober-curious community about how women are fueling the non-alcoholic category.

Soft drink giant Pepsi is promoting its finest pairings again in its #BetterWithPepsi campaign that has evolved from burgers, pizza, hot dogs and now to cocktails. 

• The brand is offering $5 off Drizly orders for shoppers who purchase any Pepsi product alongside rum.
• While Coca-Cola made the leap to can the ubiquitous “Jack & Coke” bar call, Pepsi seems to be aiming for the rum and cola drinker through its media campaign in major cities.
• PepsiCo is among the growing list of non-alcoholic beverage producers that have crossed over into the adult bev category with its Hard MTN Dew. Will a Pepsi & rum RTD come next?

• Real Housewife Bethenny Frankel talks about her new partnership with non-alc cocktail brand Mingle.
• Kate Farms founder Richard Laver goes deeper into the purpose behind his new brand, Lucky F*ck Energy.
• CBD brand Amari pivots from powders to canned RTDs.
• Recent reports show that more moms are getting into marijuana.
• An update on celebrity-backed spirits brands!