Oat Milk Market Trend, Dynamics, Applications & Emerging Growth up to 2030
Market Scope
The oat milk market industry is projected
to grow from USD 4.8 billion in 2022 to USD 7.8 billion by 2030, exhibiting a
compound annual growth rate (CAGR) of 7.20% during the forecast period (2022 -
2030).
Primary
Boosters and Barriers
Oat milk is
extremely eco-friendly, generates relatively lower greenhouse gases and uses reduced
amount of water compared to other dairy alternatives like almond. Taste-wise,
oat milk appeals to a larger number of consumers, since it is somewhat as
consistent as dairy milk, and therefore, is vastly preferred in home cooking as
well as coffee shops. The upsurge in the consumption rate of plant-based milk,
especially via popular coffee retail chains like Dunkin Donuts and Starbucks, has
been favorable for the oat milk market. Moreover, to foster sales, leading
vendors are focusing on attractive and aesthetic packaging with bright and catchy
colors. The Oat
Milk market trend is experiencing exponential growth driven by
increasing consumer demand for dairy alternatives.
Sufficient
intake of calcium brings down the risk of osteoporosis while facilitating nerve
and muscle function and improving cardiovascular health. These are the key health
benefits provided by oat milk and are responsible for the huge demand in the
global market. Accelerated cases of lactose intolerance have also benefitted
the global industry to a large extent.
Well-established
retailers like Walmart and Target have been taking note of the escalating
preference for organic oat milk among consumers. The high demand can be accredited
to the improving living standards, government-backed initiatives, and the
surging purchasing capacity of the consumers in China, Brazil and India.
Segmental
Review
Product type,
category and distribution channel are the top segments highlighted in the MRFR
report.
Product types
studied in the MRFR market study are flavored and plain. Flavored type of oat
milk has taken the top spot in the global market and could also procure the
highest growth rate in the years to come. This type of oat milk has additional
flavors that appeal to the varying tastes of the consumers and help foster the
sales.
Category-wise,
the major segments can be organic as well as conventional. Considering the
rapidly surging demand for organic oat milk, the segment can escalate at the
fastest rate in the following years. The demand for organic oat milk is
substantially high since it contains significant amounts of fiber as well as beta-glucans
and helps bring down bad cholesterol level in the body.
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Distribution
channels selling oat milk are either store-based or non-store-based products.
Convenience stores, supermarkets & hypermarkets, and more are the major
store-based channels and hold the leading position in the global market. With
the provision of a one-stop experience for shoppers, store-based outlets have
garnered high traction worldwide.
Regional
Insight
Asia
Pacific/APAC, North America, Europe, as well as RoW/rest of the world are the
prominent markets for oat milk.
Europe has
maintained its winning streak since 2019 and can keep making the highest
profits in the global market, thanks to the high awareness among people about
oat milk’s health benefits. Germany has been identified as the most lucrative
market in Europe and the share is projected to burgeon rapidly in the years to
come owing to frequent launches of new flavors by the reputed companies. More
and more consumers are opting for plant-based milk, given the health, ethical and
environmental factors, which also enhances the market size for oat milk in the
region. The fact that oat milk is not soy-based or nut-based and is gluten-free,
works in its favor as people that are allergic to these are turning out to be
key consumers.
Prominent
Vendors
Key Oat Milk Market Players
Rise Brewing (US), Elmhurst (US), Thrive Market. (US), Califia Farms (US), Chobani
(US), PepsiCo (US), Oatly (Sweden), Pacific Foods (US), Danone (US), Happy
Planet Foods (US), are some of the major firms in the global market for oat
milk.
Asia Pacific has
seized a massive share in the global market, with the highest demand for oat
milk witnessed in Japan, China, and numerous South-East Asian economies. Growth
in health awareness and the rising number of fitness freaks in the region offer
attractive opportunities to the top firms in the region. In demand eCommerce
channels, growing presence of organized distribution channels and the expanding
urban populace also drive the sales of oat milk in the region. Several consumers
in the region are growing concerned regarding the presence of antibiotics as
well as growth hormones in dairy milk, which also prompt them to opt for
plant-based milk like oat milk.
Ginger
Extract Market Research Report Information by Type (Organic and Natural),
By Form (Powder and Liquid), By End-User Industry (Food & Beverages,
Pharmaceuticals &Nutraceuticals, Personal Care, and Others) and By Region
(North America, Europe, Asia-Pacific, and Rest of the World) –Market Forecast
Till 2032
Vitamin
and Mineral Supplements Market Research Report Information By Type
(Vitamin, Mineral, and Blends), By End-User (Men, Women, and Unisex), By
Distribution Channel (Non-Store-Based And Store-Based) And By Region (North
America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till
2032
NOTE: Our Team of Researchers are Studying Covid19 and its
Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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