LONDON, Jan. 9, 2023 /PRNewswire/ — The Global Oat Milk Market was worth USD 4157.6 million in 2021. Due to the positive influence of various growth influencing factors, the industry is anticipated to attain a valuation of USD 8153.7 million by 2028, exhibiting a CAGR of 10.1% over the forecast duration of 2022-2028.
Oat milk is referred to as a type of plant based milk extracted from whole oat grains with the help of water. It is lactose free in nature and has a creamy texture. It further has a rich nutritional profile and is integrated with the goodness of fiber, carbs, and calories. They are manufacturers in a wide array of flavors including vanilla, chocolate, and cinnamon, among others. Oat milk can be found in both sweetened and unsweetened forms. Oat milk can be used to produce various edible items such as ice cream, desserts, and yogurt, among others.
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Global Oat Milk Market Outlook (2022-2029)
The increasing adoption of vegan lifestyle, growing number of lactose intolerant people, and rising health cognizance among the masses are primarily augmenting the outlook of this business vertical.
Further, technological advancements in the food processing sector, rising R&D investments in the field, along with growing disposable income levels of the masses are creating lucrative opportunities for this marketplace to prosper.
Moreover, growing prevalence of lifestyle-based diseases is adding momentum to the development of the Global Oat Milk Market.
On the contrary, rising concerns of food related allergies and high cost of plant based milk products are hindering the remuneration scope of this industry vertical.
The prominent players characterizing the competitive terrain of the Global Oat Milk Market are Califia Farms, Cereal Base Ceba AB, Earth Own Food Company, Elmhurst Milked Direct LLC, Hain Celestial, Happy Planet Foods Inc., Danone, HP HOOD LLC, Pacific Foods of Oregon, Oatly, and Rise Brewing.
These companies are striving to strengthen their position in various geographies so as to enhance their profit trajectory. They are involving in mergers & acquisitions, product launches, collaborations, R&D investments, along with partnerships, among others to stand out from their key competitors.
By Packaging Type:
By Distribution Channel:
- Grocery stores
- Online Retail
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North America is presently leading the marketplace in terms of revenue share. This is attributable to the growing prevalence of lifestyle based diseases, increasing adoption of vegan dietary habits, rising disposable income levels, along with surging R&D investments in the field.
Asia Pacific is reckoned to amass notable gains over the stipulated timeline owing to the increasing incidence of lactose intolerance, growing health cognizance among the masses, and changing lifestyle trends of individuals.
The conventional segment has emerged as one of the fastest growing segments in this marketplace. This is credited to the affordability and widespread availability of conventional oat milk.
The plain segment is anticipated to dominate the market in terms of volume share due to the wide range of health benefits offered by non-flavored oat milk.
The carton segment is slated to garner substantial returns over the stipulated timeframe ascribing to the escalating demand for sustainable packaging solutions.
The online retail sector is presently leading the market owing to widespread internet penetration, doorstep delivery options provided by online stores, and rising adoption of smart devices.
Comparing the historical outlook and ongoing trends of this market
This industry sphere has been gaining massive traction over the forecast duration due to the emergence of numerous growth drivers.
Changing dietary habits of the masses is one of the primary growth catalysts for this marketplace. Due to health and environment based factors, many people are shifting their inclination towards veganism. With rising activism against animal cruelty, individuals are trying to avoid edibles or wearables derived from animals. This in turn has escalated the demand for plant-based consumables like oat milk.
The COVID-19 pandemic had a mixed impact on the progression of this industry vertical. Due to lockdown restrictions, commercial activities in various nations were halted. But there were special provisions to ensure the smooth functioning of industries manufacturing essential commodities. Oat milk is a common consumable item in many countries. Vegan and lactose intolerant people rely on plant based milk as a part of their daily diet. Moreover, during the pandemic, health experts asserted that it is crucial for the masses to enhance their diet by integrating nutrient rich food item so as to improve their immunity levels. This in turn increased the consumption of oat milk-based products worldwide. These factors stimulated the development of the Global Oat Milk Market during the pandemic era.
Apart from that, rising pervasiveness of lifestyle diseases, stringent regulations against animal cruelty, and growing cognizance about the health benefits offered by oat milk among the masses are aiding the expansion of this marketplace.
On Special Requirement Oat Milk Market Report is also available for below region:
- U.S, Canada
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
In 2020, Arla Foods amba announced the launch of its new oat milk based beverages under the brand name Jord.