Oat Milk Market Forecast
The global oats market share is expected to grow at a higher growth rate supported by diverse applications across various industries. The application of oats is also gaining popularity in the personal care industries as oats are found to be beneficial in treating acne and other skin and hair-related problems. Technological strides are resulting in improved product quality, which is also adding fuel to the growth of this market. Increasing demand for healthy food ingredients is influencing the growth of the oats market, positively.
The global oat milk market size a value of approximately USD 408.8 million in 2020. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 13.4% to reach a value of about USD 877.7 million by 2026.
The rising sale of oats is driven majorly by its nutritional value and its wide range of applications in nutraceuticals. Oats are rich in fiber content and are consumed based on their cholesterol-lowering properties. It is also found to aid weight loss by helping in the removal of excess fat from the body. Rising health consciousness among the consumers is supporting the sale of oats on a global level. The hectic lifestyle of the consumers is also propelling the growth of the instant oats market.
Based on the healthy snacks consumption trend, the sale of oats bar is also increasing at a higher rate. The production and the consumption of oats are high in North America and is projected to increase at a growth rate in various countries of the Asia Pacific and Europe over the given forecast period.
Key Players
Notable players profiled in the oats market Growth report include Richardson International (Canada), Morning Foods Ltd (UK), Avena Foods Limited (Canada), Blue Lake Milling Pty Ltd (Australia), General Mills, Inc. (the US), Grain Millers, Inc. (U.S.), and The Quaker Oats Company (US)
Market Segmentation
Global Oats market is segmented by form, application, distribution channel, and region
Downstream Analysis
Based on form, regular/flakes oats hold a lion’s share in the global market based on high demand for regular oats as a potential breakfast cereal. However, increasing demand for on-the-go healthy snacks is projected to support the high growth of bar form of oats. Furthermore, based on the application, bakery and confectionery-based applications dominate the market owing to the high demand for healthy bakery and confectionery food products.
Additionally, the sale of oats through store-based channels will hold a significant share in the global market. However, technological strides and consumers highly adopting advanced lifestyles might spur the sale through e-commerce.
Regional Analysis
The global oats market share is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America holds a major market share followed by Europe. High demand for oats owing to increasing health awareness and healthy food consumption trends from the developed countries of these regions is contributing to the growth of the oats market. The U.S., China, Saudi Arabia, France, and India are the major importers of oats. Developed trading channels and high demand for healthy food are also driving the growth of the market in these countries.
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