Certain activist coalitions and ethical consumer groups have organized targeted boycotts against Oatly due to controversies surrounding its corporate governance choices and minority financial backing from prominent private equity firms and international conglomerates. Critics have raised concerns over the environmental practices of certain institutional investors associated with the company's past fundraising rounds, prompting environmentally conscious consumers to re-evaluate their purchasing habits. These grassroots boycotts stem from objections to corporate partnerships and ownership structures rather than the underlying plant-based product attributes themselves.