Newark, Sept. 05, 2024 (GLOBE NEWSWIRE) -- The global oats market is experiencing significant growth, driven by increasing consumer awareness about health benefits and the rising popularity of plant-based diets. Oats, rich in fiber, particularly beta-glucan, are widely recognized for their heart health benefits, which have made them a staple in many diets around the world.
The global oats market, valued at USD 6.42 billion in 2023, is projected to grow at a CAGR of 5.5% from 2024 to 2033, reaching an estimated USD 10.97 billion by 2033.
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Recent Developments
Key players in the oats market, such as Above Food Corp. and Nature's Path, have made strategic acquisitions and launched new product lines to strengthen their market positions. For instance, Nature's Path introduced a range of organic oat-based products, including oat milk and oat yogurt, in 2023. Similarly, Above Food Corp. acquired Sonic Milling Systems to enhance its production of oat-based beverages and concentrates
The type segment is divided into whole oats, steel cuts, instant oats, and others. In 2023, the whole oats segment held the highest market share at 32.85%. The bran is the fibrous, nutty shell of each oat seed. It is rich in protein, fiber, B vitamins, and several other minerals. The germ, frequently referred to as wheat germ when sold separately, contains vitamin E, which is essential for skin, hair, and immune system health. Phytonutrients in both the germ and the bran can boost the health of numerous body systems. The application segment is divided into breakfast cereals, bakery & confectionery, animal feed, and others. The animal feed segment held a larger market share of 35.58% in 2023. Animals' diets can include oats, a grain that is great for feeding pets like cats and dogs, and game animals. Horses' energy levels are increased by the high-fat content of oats, a vital component of the horse diet. In cat food, oats relax the digestive tract and reduce allergic reactions.
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Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 5.5% |
| 2023 Value Projection | USD 6.42 Billion |
| Market Size in 2033 | USD 10.97 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 225 |
| Segments Covered | The research report also delivers an outline of the attractiveness of oats based on type, application, and regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East Africa. Furthermore, the regions are further analyzed at the country level. |
Market Dynamics
Drivers
The primary drivers of the oats market include the growing consumer preference for healthy, high-fiber foods, and the increasing adoption of plant-based diets. Innovations in oat-based products, such as oat milk and energy bars, are also fueling market growth. Additionally, the rise in organic farming practices and sustainable agriculture contributes to the market's expansion
Restraints
The oats market faces challenges such as fluctuations in raw material prices and the availability of alternative grains like quinoa and barley, which may limit its growth. Additionally, the demand for non-GMO and gluten-free products adds pressure on manufacturers to meet stringent quality standards
Opportunitie
Opportunities in the oats market include expanding into emerging markets where consumer awareness of health benefits is growing. There is also potential in developing new oat-based products and leveraging online retail channels to reach a broader audience. The increasing demand for organic oats, particularly in North America and Europe, presents a significant growth opportunity
Key Players:
• Nestlé S.A.
• Quaker Oats Company
• General Mills, Inc.
• Pioneer Foods Ltd.
• Post Holdings, Inc.
• Nature's Path Foods
• Richardson International Limited
• The Hain Celestial Group, Inc.
• Morning Foods Limited
• Blue Lake Milling Pty Ltd. (CHB Group)
• Bob's Red Mill Natural Foods, Inc.
• Post Holdings, Inc.
• The Kellogg Company
• Marico Limited
• B&G Foods, Inc.
• Avena Foods Limited
• Grain Millers, Inc.
• Bagrry's India Ltd
• NOW Health Group, Inc.
• Helsinki Mills Ltd.
• Unigrain Pty Ltd
Regional Segmentation
• North America: The U.S. is a major market, driven by high consumption of oat-based products like breakfast cereals and snacks.
• Europe: Europe is expected to see the highest growth rate, with rising health consciousness driving demand for oat products.
• Asia-Pacific: This region is growing rapidly due to increasing urbanization and health awareness in countries like China and India.
• South America: Growth in this region is fueled by the rising popularity of healthy diets.
• Middle East & Africa: These regions present untapped potential, especially with the growing trend of plant-based diets
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The oats market can expand significantly due to millennials' growing interest in exercise and expanding urbanization. Because of their high soluble fiber content, people are paying more attention to the growing usage of oats in animal feed. Due to their high-calorie content and well-balanced amino acid composition, oats are widely employed as animal feed for horses, piglets, and chickens. Due to these factors, the oats market may experience rapid expansion.
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