Furthermore, the report provides robust solutions to customers, assisting them to address challenges and find lucrative opportunities. In the end, the report provides a granular overview of the market so as to make informed decisions.
Oat Milk Market Overview
The global Oat Milk market size is projected to reach a CAGR of 14.4% from 2022 to 2028.
Oat milk is a type of plant-based milk as it is made from oats and water and thus isn’t a dairy product. It is made by mixing of oats and water in a blender. Its taste is different from the dairy milk but is an alternative for the people preferring low calorie diet and patients with lactose intolerance.
The growing vegan population, along with health-conscious customers seeking plant-based milk with excellent nutritional qualities, is driving market expansion. As a result, oat milk trend has been risen with the rise in veganism and is recognized as a critical element driving demand for plant milk.
According to the most recent Delvens analysis, more than 25% of women drink plant-based milk, while young people between the ages of 16 and 24 are increasingly rejecting dairy milk. Sales of oat milk increased by 70%, which accounts for the majority of this growth. In 2021, oat milk will be the most widely consumed plant-based milk, with customers spending USD 145 million on the dairy-free alternative. These days, about one-third of British people choose plant-based milk over dairy milk. According to a survey of 3,000 adults, aged 16 and older, about 44% of individuals in the 25–44 age range drink plant-based milk. Oat milk is also in demand from consumers that follow vegan diets, are lactose intolerant, and are health-conscious.
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Lactose intolerance, allergies, and the growing popularity of low-cholesterol diets have prompted manufacturers to develop a variety of plant-based replacements. This has benefited the market for oat milk, which meets customers' need for allergy-free products while also providing various health advantages. However, in certain countries, plant-based milk cannot be labeled as milk and is taxed more heavily than dairy milk. These reasons may impede the oat milk market growth.
As per the survey, oat milk is currently the most widely consumed non-dairy milk substitute. The popularity of oat milk is growing quickly. Oats, unlike soy and nut milk, are low in allergens, allowing the majority of individuals to consume them. It is regarded as being far more environmentally friendly than dairy milk and having less impact than other non-dairy options. A crop that requires a lot of water to flourish is almonds, for instance. The grain is now appearing in more items and other grocery store aisles as the Oat milk craze continues.
With the increased awareness raised by animal rights organizations and animal lovers, there has been a shift in customer purchasing behavior that favors animal protection. As a result, a substantial consumer base is transitioning to a vegan diet, which is likely to increase oat milk market share throughout the projection period.
Also Check Report on Plant-Based Food and Beverage Market
Because of the COVID-19 epidemic, the global oat milk market size has increased significantly as a result of rising consumer expenditure and health consciousness. COVID-19 is projected to significantly enhance demand for oat milk, owing to increased consumer knowledge of the need to strengthen their immune systems in order to avoid being sick easily, driving people to keep a healthy lifestyle and right nutrition.
Manufacturers' efforts to provide various tastes of oat milk with enhanced nutritional qualities are a primary factor that is likely to increase demand throughout the forecast period of 2022-2028. Consumers want a healthier food product in their diet, yet there is a dearth of knowledge and awareness of plant-based food and drinks.
Customers are drawn to organic oat milk due to increased concentrations of antioxidants and essential elements in organic products compared to conventional varieties. Thus, from 2022 to 2028, the oat milk market is likely to be driven by increased awareness of the health advantages of organic oat milk. Several boards and organizations are assisting farmers and non-governmental groups in adopting organic farming. Furthermore, non-profit organizations such as IOFAM Organic International, the USDA, and the National Organic Standard Board are assisting in the manufacture of organic goods, which will support the market's growth throughout the projection period.
Oat Milk Market Regional Analysis
In 2020, the United States had the greatest revenue share in the North American market. The country's trend of plant-based food and beverage consumption, along with a strong foothold of important producers and an increase in vegan customers, is contributing to the country's high growth of oat milk. Oat milk led the growth in yearly non-dairy milk sales in the United States. Plant-based milk sales climbed by 6.4% in 52 weeks as of June 12, 2022.
Concerns about animal welfare are growing in the United Kingdom, and veganism is becoming more popular among consumers. Aside from these, possible health advantages and environmental conservation are now boosting oat milk sales. With the growing popularity of veganism, certain producers in the United Kingdom are selling certified vegan oat milk, which is projected to draw more customers in the coming years. When it comes to oat production.
In comparison to other regions, Europe and North America have the highest concentration of oat drinks. Oat milk is expanding faster than other plant-based beverages. Oat milk sales in the United States increased by 130% last year to USD 316.2 million. Soy milk, rice milk, and coconut milk sales all decreased in the United States last year. Oat milk is the most preferred plant-based drink in Europe because of its advantages in terms of health. Europe is now the world's top producer of oat milk due to the region's rapidly growing demand and consumer awareness.
Russia is the world's greatest grower of oats, which results in significant oat milk output. Increased oat output in Russia gives several potentials for oat milk manufacturers to develop their operations across regions. Russia has a production share of roughly 22%, which is much more than other countries.
Asia Pacific is the most rapidly growing market and offers a huge opportunity for the industry, whose growth is driven by the changed lifestyle and food preferences in the region.
The conventional oat milk category held the largest proportion of the oat milk market in 2019.
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Oat Milk Market Competitive Landscape
Key Players
• Oatly
• Rise Brewing
• Thrive Market
• Happy Planet Foods
• Califia Farms
• The Coca-Cola Company
• Elmhurst
• Pacific Foods
• Danone
• HP Hood LLC
Oat Milk Market Recent Developments
• In 2020, Califia Farms came up with a long-life oat drink exclusively for customers in the U.K. market.
• OATSIDE, a Singapore-based oat milk firm, has raised S$90.5 million in a Series A fundraising round headed by Temasek Holdings and GGV Capital, according to regulatory records obtained by DealStreetAsia.
Reasons to Acquire in the Oat Milk Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Oat Milk Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Frequently Asked Questions
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