The new report by Expert Market Research titled, ‘Global Oat Milk Market Price, Share, Size, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global oat milk market, assessing the market based on its segments like source, flavour, packaging, distribution channel and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 408.8 million
- Forecast CAGR (2023-2028): 13.4%
- Forecast Market Size (2026): USD 877.7 million
Factors driving the worldwide oat milk business include an increase in the number of people with lactose intolerance and a shift in customer tastes toward immunity-boosting goods. Furthermore, the coronavirus outbreak has hastened the already-shifting preferences for immunity-inducing products, resulting in oat milk’s market expansion. Customers are progressively switching to nutrition-dense substitutes and low-calorie diets, which is motivating industry participants to find new solutions.
The oat milk sector is gaining traction as a result of the rising demand for such products. Furthermore, rising consumer knowledge of the dietary benefits of oat milk, which has a high level of calcium and Vitamin B12, is boosting oat milk’s market growth.
Oat Milk Industry Definition and Major Segments
Oat milk is a lactose-free, plant-based beverage with high iron, potassium, protein, calcium, and vitamin D content that is often used as a dairy milk substitute in tea, smoothies, coffee, and other health drinks.
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The oat milk industry is segmented on the basis of source into:
- Organic
- Conventional
The market, on the basis of flavour, is divided into:
- Plain
- Flavoured
By packaging form, the market is segregated into:
- Carton
- Bottle
Based on distribution channel, the industry is categorised into:
- Supermarket and Hypermarket
- Convenience Stores
- Online
- Others
The EMR report looks into the regional markets of oat milk like:
- North America
- Europe
- the Asia Pacific
- Latin America
- the Middle East and Africa
Oat Milk Market Trends
Growth in customer desire for flavour is driving the market for oat drinks. As a result, fresh and flavorful oat beverage products are becoming increasingly popular. This is intended to contribute to the growth of the oat milk business and the development of customer loyalty. As a result of these activities, a range of oat beverage options has been introduced. For example, due to its froth-forming qualities, the Barista version of oat beverages is gaining favour in the coffee business. Customers can pick between sweetened and unsweetened oat drinks, depending on whether they have a sweet tooth or not. Oat drinks are frequently innovated and introduced in a range of flavours. Vanilla, blueberry, and chocolate are three new flavours that have recently been introduced. This is predicted to help increase sales and, as a result, market growth.
As veganism grows in popularity around the world, the industry is projected to grow even more. Vegans avoid dairy products since they are cruel to animals, so they look for alternatives on the market. Because it has a rich, neutral flavour and has a low environmental impact, oat milk is a superb dairy milk substitute. The aforementioned reasons are projected to promote market growth throughout the forecast period.
Key Market Players
The major players in the market are Califia Farms, LLC, Oatly AB, Danone SA, and Earth’s Own Food Company Inc. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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