New York, US, March 16, 2023 (GLOBE NEWSWIRE) -- Oat Milk Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Oat Milk Market Information By Product Type, Category, Packaging Type, Distribution Channel, And Region - Forecast till 2030"; the market will reach USD 7.8 billion by 2030 at a 7.20% CAGR.
Market Synopsis
Oat milk is made by removing the plant material from entire oat grains using water. It tastes like oatmeal and has a creamy texture. Both basic and flavored drinks of oat milk are offered. The recent consumer interest in vegan diets has fueled the market for beverages made without dairy. Due to health, environmental, and ethical reasons, consumers are switching to plant-based milk, which has a substantial positive impact on the market for oat milk. Consumers in the U.S. and Europe have changed their tastes and inclinations toward plant-based beverages. Oat milk is a vegan product prepared from whole oat grains, rich in the nutrients needed to maintain good health, including usable protein, fatty acids, and dietary fiber.
Oat milk is used instead of farm milk by vegetarians and those who are lactose intolerant because it has the same flavor and consistency. Oat milk provides a respectable amount of low fat and is a milk that is devoid of cholesterol. One of the main factors driving the growth of the oat milk market is the rising demand for lactose-free products due to their ease of digestion. The primary reason fueling the expansion of the market for oat milk is the rising number of people who are lactose intolerant. So, the growing popularity of veganism is seen as a key component that fuels the demand for plant milk, including oat milk. Dairy alternatives are also being consumed more frequently due to the rise in customers with lactose intolerance and dairy allergies. As a result, there is no more need for oat milk.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 7.8 billion |
| CAGR | 7.20% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Category, Packaging Type, Distribution Channel, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising vegan population |
| due to the numerous health advantages |
Market Competitive Landscape:
The well-known contenders in the oat milk market are:
- Danone (U.S.)
- Chobani (U.S.)
- Thrive Market. (U.S.)
- Califia Farms (U.S.)
- PepsiCo (U.S.)
- Elmhurst (U.S.)
- Oatly (Sweden)
- Rise Brewing (U.S.)
- Happy Planet Foods (U.S.)
- Pacific Foods (U.S.)
Market U.S.P. Covered:
Market Drivers:
The market's expansion is attributed to the growing number of vegans and the desire for high-nutritional plant-based milk from health-conscious consumers. Manufacturers have been forced to release various plant-based substitutes due to problems including lactose intolerance, allergies, and the increased popularity of low-cholesterol diets. From 2020 to 2028, the organic source market will see a sizable CAGR. Its increased rise is linked to consumer health consciousness, a preference for items farmed without pesticides, and awareness of adulteration in traditional goods. Also, consumers are becoming more interested in organic oat milk due to the higher levels of antioxidants and dietary minerals in organic products compared to conventional alternatives. As a result, it is further anticipated that knowledge of the health advantages of organic oat milk. This has helped the oat milk market, which meets consumer desire for being allergy-free and has several health advantages. Customers' purchasing patterns have changed to support animal protection due to the awareness raised by animal rights organizations and animal lovers. Thus, a sizable customer base is turning to a vegan diet, which is anticipated to fuel oat milk sales during the projection period.
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Market Restraints:
Until now, there are some nations where plant-based milk cannot be labeled as milk and where the tax rate is greater than for dairy milk. These elements may slow the market's expansion for oat milk.
COVID 19 Analysis
During the earliest stages of the COVID-19 pandemic, there were delays in the supply chain and logistics. Yet, government assistance controlling the demand for necessities has little effect on expanding plant-based goods like oat milk. Due to rising consumer expenditure and increased health awareness, the market for functional beverages has significantly increased due to the COVID-19 pandemic. Due to increased consumer awareness of the need to fortify their immune systems to prevent themselves from contracting infections easily, convincing them to live a healthy lifestyle and appropriate diet, COVID-19 is predicted to further boost demand for it oat milk at a much higher rate. The pandemic highlighted the significance of nutrition for the body's immune system and general health. Demand for dairy substitutes surged as consumers became more health-conscious and gave up fats, carbohydrates, and sugary drinks to favor nutritionally sound and nutritious goods.
Market Segmentation
By distribution channel, the market includes store-based and non-store based. By product type, the market includes plain and flavored. By category, the market includes organic and conventional. By packaging type, the market includes cartons and bottles.
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Regional Insights
The market for oat milk in North America is anticipated to grow rapidly. The use of dairy-free beverages has surged due to consumers' recent increasing acceptance of the vegetarian diet. One of the primary drivers of growth in the North American oat milk industry is the rising demand for oat milk as a great substitute for cow milk. Moreover, Canada was the region's fastest-growing market for oat milk, while the U.S. market had the biggest market share. The area's dairy substitute market has expanded due to the high use of e-commerce sites as a selling medium. Due to a rise in milk allergies, North American customers are additionally anticipated to seek oat milk.
Regional food and beverage producers are adding dairy substitutes to appeal to a rising consumer population choosing plant-based products, helping the industry grow even more. The second-largest market share belongs to the Asia-Pacific region for oat milk. Customers drank more oat milk due to customer demand to strengthen their immune systems. The closure has hampered manufacturing operations, which has forced several businesses to close. Despite the spike in demand, there was a considerable supply-demand mismatch because of limitations imposed by governments in various countries. India had the quickest rate of growth in this region's oat milk market, which was second only to China in terms of market share. Due to the region's substantial consumer spending for vegetarian and plant-based goods, Europe made up a sizeable portion of the industry. To enhance their market share, oat milk manufacturers are focusing on the nations in the region.
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