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Oats Market Size to Reach USD 6.90 Billion by 2027; HighConsumption of Whole-grain Foods to Augment Growth, states Fortune BusinessInsights™
MainBody:
The global oats market size isexpected to reach USD 6.90 billion by 2027, exhibiting a CAGR of 3.8% duringthe forecast period. The growing consumption of whole-grain foods owing to itshealth benefits will enable speedy expansion of the market, states FortuneBusiness Insights, in a report, titled “Oats Market Size, Share &COVID-19 Impact Analysis, By Type (Steel Cut, Whole Oats, Instant Oats, andOthers), Application (Bakery and Confectionery, Breakfast Cereals, Animal Feed,and Others), and Regional Forecast, 2020 – 2027.” The market sizestood at USD 5.18 billion in 2019.
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Key Development:
November 2018: Nestle SA announced that ithas added a new product to its cereals range containing whole grains, calledOat Cheerios breakfast cereals in the UK.
Key Market Driver:
Significant Utilization in Animal Feed to Drive Market
The vast application of oats in the animal feed industry owing toits properties to improve feed value will foster the growth of the market. Thehigher fat content compared to other cereals enhances energy content in thefeedstock. Similarly, it adds key components for easy digestibility in animals.The balanced amino acid composition along with palatability makes it ideal forpoultry, horses, and piglets. Thus, boosting the growth of the market. However,the wide availability of whole grains such as wheat, barley, sorghum, andquinoa that possess nearly the same nutritional profile can be an obstructionfor the growth of the market. Besides, heavy demand for barley owing to itsnegligible cholesterol and triglyceride levels can further dampen the oats marketgrowth.
Mass Disruption in Food Industry to Impede Development duringCoronavirus
The lockdown imposed by the governments has disturbed the supplychain activities, resulting in market closure and disrupted the food servicessector. The food manufacturers and processors are observing several inhibitionsin their operations. The shutdown of hotels, restaurants, & Café hasnegatively impacted the global market. Nevertheless, the production remainedunaffected as deliveries of seeds, fertilizers, and crop protection was madeavailable by the governments. Moreover, the ease of accessibility of foodsupplies and commodities by the governments can aid in recovering losses andincite remunerative business outcomes.
Regional Analysis:
Increasing Health-Conscious Consumers to Aid Growth in Europe
Europe is expected to hold a significant oats market share duringthe forecast period owing to the high production in countries such as Russia,the U.K., Italy, and Spain. The increasing health consciousness among consumersto boost growth in the region. The increasing demand for healthy grain-basedsnacks will bolster the growth of the global market in Europe. The hecticlifestyles of European consumers have led to high nutritional food products.Hence, increased production and consumption in European Countries will spuropportunities for the market. North America is expected to hold the largestshare in the global market owing to the growing consumption of porridge oroatmeal as a staple food.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/oats-market-100199