ID: MRFR/F-B & N/8738-HCR | February 2021 | Region: Global | 90 pages
Oat Milk Market size is projected to reach approximately USD 2.2 Billion by 2026, with a CAGR of 6.2% from 2020 to 2026. Oat milk is plant-based milk derived from whole oat grains by extracting the plant material using water. Rising awareness regarding the importance of health and wellness has resulted in the growing adoption of oat milk among consumers. Oat milk is widely consumed due to its various health benefits, such as lowering blood cholesterol levels, preventing anemia, and boosting immunity. Oat milk is used as an alternative to dairy milk in tea, smoothies, coffee, and various health drinks. According to the Good Food Institute and the Plant-Based Foods Association, oat milk sales in the US surged by a staggering 686% in 2019. The increasing availability of oat milk at organized retail stores is an important factor fueling the sales of oat milk.
Furthermore, the rising demand for oat milk in the preparation of functional foods is expected to boost sales in the oat milk market. Various innovations by key market players are driving the growth of the market. For Instance, in July 2020, Oatly launched organic, plant-based oat drinks in four flavors. Manufacturers are expanding their product portfolios by introducing oat milk in their range of products. In 2019, Chobani expanded its product portfolio by launching new products, including oat milk. Overall, the global outlook towards oat milk products is expected to remain positive during the forecast period.
The outbreak of the COVID-19 pandemic has affected the lives of people across the globe and impacted various industries. The pandemic has severely restricted the growth of most sectors in the global economy, and the dairy-alternative industry is no exception. The supply chains of oat milk have been disrupted, as many countries are under lockdown and have sealed their borders to curb the spread of the coronavirus. Strict containment measures imposed by governments of various countries to control the impact of the outbreak have led to significant restrictions on transportation.
Oat Milk Market has witnessed high growth in recent years. The consumers’ preference for plant-based foods due to their several health benefits is driving the growth of the global market. Rising health consciousness among the consumers has led to an increase in the demand for low-fat milk, which is anticipated to provide lucrative opportunities for the global market players. To cater to the trending consumer needs, market players are focused on launching various types and flavors of oat milk.
Increasing awareness regarding the health benefits of oat milk
By Product Type
By Distribution Channel
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Category, Packaging Type and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Oatly (Sweden), Rise Brewing (US), Happy Planet Foods (US), Thrive Market. (US), Califia Farms (US), PepsiCo (US), Elmhurst (US), Pacific Foods (US), Danone (US), Chobani (US)|
|Key Market Opportunities||Rising health consciousness among the consumers has led to an increase in the demand for low-fat milk|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The willingness to try non-dairy milk, such as oat milk is estimated to bolster the market.
Rise Brewing (US), Happy Planet Foods (US), Califia Farms (US), Oatly (Sweden), Thrive Market (US), and PepsiCo (US) are the companies transforming the market.
The European regional market is estimated to spur market development in the forecast period.
The market is foreseen to display a CAGR of 6.2% in the forecast period.
An income of USD 2.2 Billion by 2026 is predicted in the market.