Fort Collins, Colorado, April 05, 2024 (GLOBE NEWSWIRE) -- The Oat Milk Market size was valued at USD 3.7 Billion in 2023 and is projected to reach USD 9.8 Billion by 2032 at a CAGR of 11.5%.
Oat milk is a plant-based alternative to traditional dairy milk, derived from whole oat grains. It is renowned for its rich content of vitamins, minerals, and fiber, containing more calories, carbohydrates, and fiber than other milk sources such as almond milk, cow milk, and soy milk. In recent years, there has been a steady increase in the demand for oat milk, primarily attributed to the growing vegan culture and heightened awareness of animal cruelty within the dairy industry. The surge in demand can also be attributed to the introduction of oat milk in many cafes, where consumers have embraced its taste in various coffee beverages. Additionally, oat milk caters to individuals with lactose and gluten intolerances, further expanding its appeal to a broader consumer base.
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Segmentation Overview:
The global oat milk market has been segmented into source, product, packaging, distribution channel, and region. Based on packaging, the market is segmented into cartons, bottles, and others. Cartons hold a significant share of the packaging segment of the oat milk market. Milk cartons are usually made of paper, which makes them sustainable and recyclable, thus causing lower environmental damage. They are easy for the buyer to carry and store as they are lightweight and can be stored anywhere.
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Oat Milk Market Report Highlights:
- The global oat milk market growth is anticipated at a CAGR of 11.5% by 2032.
- Oat milk is a preferred milk option by vegans as it provides them with essential plant nutrients.
- North America accounts for a significant share of oat milk market, with the United States dominating the market in this region. This demand is mainly due to the rising adoption of non-dairy milk alternatives with a rising vegan population and also due to the changing taste preferences of people.
- Some prominent players in the Oat Milk market report include Oatly Group AB, The Coca-Cola Company, Campbell Soup Company, Happy Planet Foods, Rise Brewing Co., Califia Farms, Chobani, HP Hood LLC, Elmhurst 1925, Planet Oat, and others.
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Oat Milk Market Segmentation:
By Source: Organic, conventional.
By Product: Plain, flavoured.
By Packaging: Cartons, bottles, others.
By Distribution Channel: Supermarkets/Hypermarkets, convenience stores, online, others.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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