Oats Production Market size is forecast to reach $6.4 billion by 2026, growing at a CAGR of 4.1% during the forecast period 2021-2026. Oats are a complex form of carbohydrates that is also considered a potential source of dietary fibers. The primary factor driving the market is the high nutritional value of oats and its availability in different forms like flour and granules. Oatmeal is considered as the healthiest form of breakfast and is used in bakery products across the globe. Additionally, the fast-paced environment among millennials arising because of rapid urbanization has led to the demand of ready-to-eat oats products. With regards to this growing awareness of consumers pertaining to health and wellness is compelling the key players to innovate and bring convenient healthy foods to their product line-ups. The growing worldwide cultivation surrounding oats and its health benefits is set to further enhance the overall market developments of the Oats Production Market for the period 2021-2026.
Oats Production Market Segment Analysis – By Form
Granules segment held the largest share in the Oats Production Market in 2020 and is estimated to grow at a CAGR 3.7% during the forecast period 2021-2026. This is owing to the growing awareness surrounding health and wellness because of which there is a worldwide surge in the consumption of healthy snacks and bars, of which oats is a mandatory component. Oats in the form of flakes are readily available across any distribution channel and supplementing this is the penetration of internet in modern lifestyle. Internet has made it very easy for consumers to procure oats in the form of flakes and create their own recipes, thus, making it the fastest-growing segment. Flakes is estimated to register the higher CAGR over the period 2021-2026.
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Oats Production Market Segment Analysis – By Application
Food Ingredients segment held the largest share in the Oats Production Market in 2020 and is estimated to grow at a CAGR 3.9%% during the forecast period 2021-2026. This can be attributed to the growing usage of oats in every possible form throughout the food preparation process. Starting from restaurant chains to sport supplement brands, every other player is trying to incorporate oats in their recipes in order to gain a nutritive edge over others, thereby augmenting the growth of the market. Bakery Products is also estimated to grow during the forecast period 2021-2026 owing to the rising inclination towards healthy snacking in the form of nutritive meal replacement bars, especially from the millennials and gen Z group. Therefore, we can conclude that bakery products is estimated to register the higher CAGR over the period 2021-2026.
Oats Production Market Segment Analysis – By Geography
North America dominated the Oats Production Market with a major share of 36.3% in 2020. This is attributed to the growing awareness regarding health and wellness among consumers. The government is trying to promote healthy lifestyle in all possible forms in order to curb obesity which has been a critical concern for America over the recent past. The rising number of people turning to healthy snacking in bolstering the high consumption volume of oats, thereby stimulating the growth of the market in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the growing number of health-conscious consumers, which in turn is increasing the production volume of oats throughout the region. Additionally, Russia being the largest producer of oats is likely to influence the market share valuations of Europe on a global scale
Oats Production Market Drivers
Increasing awareness regarding healthy eating
Over time, obesity and similar health conditions arising due unwholesome and unhealthy eating has been plaguing some of the major economies globally. With regards to this, consumers have turning to healthy eating lately, which is one of the key drivers of the growth of the oats production market. Oats being a complex form of carbohydrate takes longer time to digest thereby boosting metabolism and preventing from unnecessary weight gain. Oatls contains lot of fibres which aids digestion and prevents bloating, thereby making it an ideal breakfast choice for consumers. Thus, increasing the growth of the Oats Production Market during the forecast period 2021-2026.
Higher quotient of nutrition profile at affordable cost
Oats happens to be one of the most value for money cereal grains available in the market when it comes to nutrition package. Oats comes seventh in terms of ranking of production value of cereals after maize, rice, wheat, barley, sorghum, and millets respectively. Health conscious consumers are increasingly becoming aware and they’re well versed with the nutritional value such as beta-gluten, dietary fibre, antioxidants and unsaturated fatty acids which constitutes the nutritional profile of oats. Thus, increasing the growth of the Oats Production Market during the forecast period 2021-2026.
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Oats Production Market Challenges
Limited production and availability on a global scale
Availability of oats and its products in every form is inconsistent throughout the world. Russia accounts for more than 32% of the global oats production followed by Canada, Australia, Spain and Poland respectively, which constitutes around 65% of the global production. This makes availability limited to a handful of nations, thereby restraining the overall growth of the market.
Oats Production Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Oats Production Market. In 2020, the Oats Production Market share is fragmented by the top ten players present in the market. The Oats Production Market, top 10 companies are Quaker Oats Company, Mornflake, Grain Millers Inc, Jordan’s Mill, Blue Lake Milling, Avena Food Ltd and The Hain Celestial Group Inc, among others.
Key Takeaways
North America dominated the Oats Production Market in 2020 owing to the rising awareness of consumers regarding health and wellness. The Oats Production market scope for different regions will be provided in the final report.
Growing inclination towards consumption of healthy snacks coupled with the high nutritional value of oats are likely to aid the market growth of the Oats Production Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Oats Production Market report.
Production and availability of oats in all its forms is only constricted to a handful of nations like Russia, Canada and Australia, is poised to create the hurdles for the Oats Production Market.
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