Oats Market Forecast
The Global Oat Milk Market is projected to grow at a CAGR of 7.2% from USD 3.68 Billion during the historic forecast period which has ended in 2019 to USD 6.47 Billion during the forecast period ending in 2028.
The demand for oat milk is increasing with rising awareness regarding its various health benefits. The dairy-alternative industry has registered tremendous growth in the past few years, and the same trend is expected in the case of the Oats Market. Additionally, North American European markets are witnessing growing demand for oat milk.
COVID 19 Analysis
The COVID-19 pandemic has had an impact on people's lives all around the world, as well as in numerous sectors. Most areas of the world economy have been badly hampered by the pandemic, and the dairy-alternative industry is no exception. In addition, the supply chain was disrupted because of the lockdown, resulting in the unavailability of products that met consumers' needs, ultimately impacting the market. Many countries are on lockdown and have sealed their borders to prevent the spread of the coronavirus, which has affected oat milk supply lines. Strict containment measures taken by several governments to control the outbreak's impact have resulted in considerable transit restrictions. Furthermore, during the lockdown, the inaccessibility of materials impeded output in none of these sectors.
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Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the Oats Market based on form, application, and distribution channel.
By form, the Oats Market is segmented into a bar, powder/flour, regular/flakes, and others. Of these, the regular/flakes segment will lead the market during the forecast period for its high consumption as a breakfast cereal.
By application, the Oats Market is segmented into personal care products, healthcare products, bakery confectionery, and food ingredients. Of these, bakery and confectionery will have the largest share in the market during the forecast period for the high demand for healthy baked and confectionery products.
By distribution channel, the Oats Market is segmented into non-store-based (e-commerce) and store-based (convenience stores, specialty retailers, supermarkets/hypermarkets, others). Of these, the store-based segment will dominate the market during the forecast period as it offers consumers a one-stop convenient shopping experience.
Key Players
Notable players profiled in the Oats Market report include Richardson International (Canada), Morning Foods Ltd (UK), Avena Foods Limited (Canada), Blue Lake Milling Pty Ltd (Australia), General Mills, Inc. (US), Grain Millers, Inc. (U.S.), and The Quaker Oats Company (US).
Regional Analysis
By region, the Oats Market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will lead the market during the forecast period. Various factors propelling the growth of the Oats Market in the region include the growing demand for healthy food, developed trading channels, increasing health awareness, and high demand for oats.
The Oats Market in Europe will have the second-largest share in the market during the forecast period. Various factors propelling the growth of the Oats Market in the region include the increasing consumption of oatmeal, the frequent launch of oat-based cereals in different flavors and types, rapid urbanization, rise in disposable income, awareness about the benefits of eating oats and using oats-based products and increasing health consciousness.
The Oats Market in the APAC region will have significant growth during the forecast period. Various factors propelling the growth of the Oats Market in the region include rising demand for oats, especially from the cosmetic personal care manufacturers, burgeoning demand for oatcakes and cookies, and increasing consumption of baked food items, and growing awareness about the benefits of healthy food consumption.
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