The global oatmeal market size is expected to reach USD 3.53 billion by 2027, exhibiting a CAGR of 4.6% during the forecast period. The growing proclivity towards organic breakfast cereals and oatmeals among consumers can have an excellent effect on the global market, states Fortune Business Insights, in a report, titled “Oatmeal Market Size, Share & COVID-19 Impact Analysis, By Form (Conventional and Organic), Type (Quick/Instant Oatmeal, Steel cut/Irish Oatmeal, Scottish Oatmeal, and Oat Flour), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others), and Regional Forecasts, 2020 – 2027.” The market size stood at USD 2.40 billion in 2019.
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The report on the oatmeal market comprises:
- Distinguished insights into the market
- Accurate inspection of the market
- New developments by notable players
- Exceptional information about key players
- Dominant regions
- COVID-19 impact
Market Driver:
Rising Health-conscious Consumers to Elevate Market
The growing demand for healthy breakfasts among millennials will bolster the growth of the market. The surging health-conscious consumers will further spur opportunities for the market. The evolving lifestyles of people will further influence the healthy growth of the market. The demand for ready-to-eat, ready-to-cook, and on-the-go healthy meals owing to the busy schedule of people will have a tremendous impact on the global market during the forecast period. The growing awareness about the health benefits of breakfast food holding high nutritional value will enable speedy expansion of the market. Moreover, the presence of antioxidants, vitamins, riboflavin, protein, iron, and the ample amount of fiber in oats makes it an ideal breakfast option for consumers. Thus, key companies are innovating their technologies to introduce healthier and convenient breakfast to cater to the need of the consumers.
High Consumption of Essential Foods to Propel Market During Coronavirus
The market has witnessed a significant growth amid coronavirus owing to the flexible regulations for provisions such as essential food items in grocery and convenience stores by the governments. The World Health Organization (WHO) recommends the consumption of wholegrain foods such as oats, to improve immunity and ensure adequate fiber intake for a healthy digestive system. Thus, consumers are concentrated on healthy foods to keep their immunities strong throughout the epidemic. This factor has further helped revive the global market and thereby enhanced sales in the time of coronavirus.
Rising prominence of Oat-based Breakfast Products to Aid Market in North America
The market in North America is expected to experience rapid growth during the forecast period owing to the heavy demand for instant healthy breakfast cereals. The increasing health-conscious consumers will augment the expansion of the market in the region. The hectic lifestyles of people have increased demand for oat-based on-the-go snacks and meals, in turn, boosting the market. The growing demand for organic oat-based products in the U.S. and Canada will augur well for the market in North America.
The market in Asia Pacific is expected to expand fundamentally due to the increasing awareness about healthy snacks and oatmeals among consumers. The increasing gym-goer population will improve the prospects of the market in the region.
Key Development:
November 2019: Nestle Cereals introduced a new 100% British grown whole grain oats breakfast cereal. The product is enriched with vitamins and minerals, including calcium and vitamin D, vitamin C, and Folic Acid.
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