Oat Milk Market Forecasts to 2028 - Global Analysis By Form (Conventional, Organic), Product (Flavored, Plain), Formulation (Sweetened, Unsweetened), Claim (Nut free, Regular/No claim, Gluten free, Artificial preservatives & color free, Flexible Plastic), and others
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $4,134 MN |
|
Projected Year Value (2028) |
US $7,529 MN |
|
CAGR (2022 - 2028) |
10.51% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Oat Milk Market is accounted for $4,134 million in 2022 and is expected to reach $7,529 million by 2028 growing at a CAGR of 10.51% during the forecast period. As a dairy-free and more vegan-friendly alternative to milk, oat milk is a healthier choice. Customers who are sensitive to dairy products or have similar allergies have a preference for oat milk. If manufactured with oats that have been verified to be gluten-free, it is normally free of gluten, nuts, soy, and lactose.
According to the data provided by the vegan society, the number of individuals opting for a vegan diet in the UK quadrupled between 2014 and 2019. There were 600,000 vegans in the country in the year 2019 which accounts for up to 1.16% of the population as compared to 150,000 (0.25% of the population) in 2014.
Market Dynamics:
Driver:
Shift of consumers towards a vegan diet
The rising number of people choosing a vegan diet is boosting the demand for oat milk. The number of people buying vegan products has significantly increased as a result of growing knowledge of the health advantages of a vegan diet. Additionally, the amount of vegan food orders placed through Deliveroo in the UK increased by 115%, according to a report by the dine-out magazine. During the projected period, the demand for oat milk is anticipated to be driven by the constantly expanding vegan diet consumer base.
Restraint:
Availability of substitutes
If people can't drink milk, oat milk is an excellent alternative. Due to inadequate sun exposure and unhealthy dietary practises, a significant portion of the population is currently suffering from shortages of the B and D vitamins (primarily B12 and D3), which also are primarily linked to regulating stress and mood as well as bone health. Oat milk is becoming more popular since it is an excellent source of vitamins B and D. As a result, during the forecasting period, the oat milk market is constrained.
Opportunity:
Increasing awareness
Since oats are more biodegradable than their competitors, including such almonds, soy, and coconut, the demand for oat milk is rising. Additionally, oat milk's bland flavour and health benefits, like the high prebiotic fibre content of the product, are elements luring consumers to consume the product. Because they value their health more than anything else, consumers are spending more money on goods that not only improve their health but also protect the environment, which helps the industry expand.
Threat:
High prices of oat milk
Oat milk costs more than milk derived from animals because of the high cost of raw materials. Oat milk costs have increased for a number of reasons, one of which is that additional steps are required to produce it, raising the cost. Oat milk prices have increased for a number of reasons, including the high cost of raw materials and the labor-intensive manufacturing process, as well as the high initial investment required. As a result, there are only a limited number of significant market players, which has elevated the price of oat milk to a premium level. As oat milk is less accessible to customers, consumer preference for it declines. As a result, the development of oat milk could be hindered in the market.
Covid-19 Impact
The introduction of COVID-19 used to have a favourable effect on oat milk sales all around the world. Multiple organs are impacted by the illness. The recommendation to choose oat milk as an occasional substitute for dairy milk for those recovering from the illness led to a sharp rise in demand for the product. During the first 8 to 10 months, the number of people infected with the COVID-19 virus surged rapidly across a number of nations, which also led to a rise in the market for oat milk globally. Due to a significant shift in consumer preference towards healthier food options to increase immunity against such diseases, the market is anticipated to develop at a comparable rate throughout the forecast period.
The flavoured segment is expected to be the largest during the forecast period
The flavoured segment is estimated to have a lucrative growth, due to rising popularity of flavoured products that meet consumers' needs for comfort and health. Consumers are becoming more and more interested in goods that satisfy their palates while also being healthy. Due in large part to the diverse and ethnic flavours that producers are developing, the demand for flavor-added oat milk has increased.
The cartons segment is expected to have the highest CAGR during the forecast period
The cartons segment is anticipated to witness the fastest CAGR growth during the forecast period, due to rising demand for packaging options with high standards and long shelf lives. The rising popularity of Tetra Pak carton packaging, which is mostly constructed of paperboard, has further spurred this increase. The segment's revenue has consequently increased significantly. The demand for sustainable packaging options is what is driving the growth of carton packaging. Given that they are comprised of recyclable and renewable materials, paper-based cartons are one of the greenest packaging options available.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to rising disposable income among consumers ready to pay a premium price for health-beneficial products and growing knowledge of the health benefits offered by plant-based milk. Due to the increased prevalence of coronary diseases and also the amount of weight control programmes, the market for plant-based milk is predicted to grow favourably in the area.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to high level of customer awareness concerning the protein content and nutritional benefits of oat milk. The market for dairy substitutes in the area has expanded as a result of the high acceptance of e-commerce websites as a selling medium. Oat milk consumption in North America is anticipated to increase as a result of an increase in cases of lactose intolerance and milk allergies. To appeal to a rising consumer population that is choosing plant-based products, regional food and beverage producers are adding dairy substitutes to their products, which is helping the industry grow even more.
Key players in the market
Some of the key players profiled in the Oat Milk Market include The Coca-Cola Company, Happy Plant Foods, Pacific Foods, Bevry , Quaker Oats, Califia Farms, Danone , Oatly, Rice Brewing, HP Hood LLC, Elmhurst, Earth's Own Food Company Inc, The Hain Celestial Group Inc., Thrive Market Inc.
Key Developments:
In May 2021, Bevry launched India’s First Oat Milk that comes in three flavors that include Original, Choc-O-Haze, and Vanilla Cinnamon. Coca-Cola launched a new oat milk product Simply Oat, under it’s Simply brand in 2021, which has expanded its plant-based beverages portfolio.
In Nov 2020, Califia Farms introduced a new long-life oat drink exclusively in the UK market. The company intended to motivate consumers to switch from dairy milk and decrease their environmental footprint.
In May 2020, Pacific Foods launched its Genuine Reduced Sugar Oat Original Plant-Based Beverage. This latest variant has the same consistency as Pacific’s Organic Original and Vanilla Oat flavors with 80 percent less sugar.
In Jan 2020, Danone North America launched a new DHA Omega-3 drink, thereby expanded Silk plant-based beverage portfolio in the US. Available in unsweetened and vanilla flavors, Silk DHA Omega-3 features a combination of pea protein, oat milk, and almond milk.
In February 2019, Quaker Oats, a Pepsico-owned Company, launched Oat Beverage. Danone’s Silk brand also introduced an Oat-based beverage Oat Yeah.
Forms Covered:
• Conventional
• Organic
Products Covered:
• Flavored
• Plain
Formulation Covered:
• Sweetened
• Unsweetened
Claims Covered:
• Nut free
• Regular/No claim
• Gluten free
• Artificial preservatives & color free
• Other Claims
Packaging Sizes Covered:
• More than 1000 ML
• 1000 ML
• 100 ML
• 500 ML
• 110 ML
• 250 ML
• Other Packaging Sizes
Types Covered:
• Refrigerated oat milk
• Shelf stable oat milk
Packaging Forms Covered:
• Bottle
• Carton
• Tetra Packs
• Can
Distribution Channels Covered:
• Grocery stores
• Supermarket/Hypermarket
• Online Retail
Applications Covered:
• Speciality Stores
• Mainstream Stores
• Beverage
• Food
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Oat Milk Market, By Form
5.1 Introduction
5.2 Conventional
5.3 Organic
6 Global Oat Milk Market, By Product
6.1 Introduction
6.2 Flavored
6.3 Plain
7 Global Oat Milk Market, By Formulation
7.1 Introduction
7.2 Sweetened
7.3 Unsweetened
8 Global Oat Milk Market, By Claim
8.1 Introduction
8.2 Nut free
8.3 Regular/No claim
8.4 Gluten free
8.5 Artificial preservatives & color free
8.6 Other Claims
9 Global Oat Milk Market, By Packaging Size
9.1 Introduction
9.2 More than 1000 ML
9.3 1000 ML
9.4 100 ML
9.5 500 ML
9.6 110 ML
9.7 250 ML
9.8 Other Packaging Sizes
10 Global Oat Milk Market, By Type
10.1 Introduction
10.2 Refrigerated oat milk
10.3 Shelf stable oat milk
11 Global Oat Milk Market, By Packaging Form
11.1 Introduction
11.2 Bottle
11.3 Carton
11.4 Tetra Packs
11.5 Can
12 Global Oat Milk Market, By Distribution Channel
12.1 Introduction
12.2 Grocery stores
12.3 Supermarket/Hypermarket
12.4 Online Retail
13 Global Oat Milk Market, By Application
13.1 Introduction
13.2 Speciality Stores
13.3 Mainstream Stores
13.4 Beverage
13.5 Food
13.6 Other Applications
14 Global Oat Milk Market, By Geography
14.1 Introduction
14.2 North America
14.2.1 US
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 Italy
14.3.4 France
14.3.5 Spain
14.3.6 Rest of Europe
14.4 Asia Pacific
14.4.1 Japan
14.4.2 China
14.4.3 India
14.4.4 Australia
14.4.5 New Zealand
14.4.6 South Korea
14.4.7 Rest of Asia Pacific
14.5 South America
14.5.1 Argentina
14.5.2 Brazil
14.5.3 Chile
14.5.4 Rest of South America
14.6 Middle East & Africa
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Qatar
14.6.4 South Africa
14.6.5 Rest of Middle East & Africa
15 Key Developments
15.1 Agreements, Partnerships, Collaborations and Joint Ventures
15.2 Acquisitions & Mergers
15.3 New Product Launch
15.4 Expansions
15.5 Other Key Strategies
16 Company Profiling
16.1 The Coca-Cola Company
16.2 Happy Plant Foods
16.3 Pacific Foods
16.4 Bevry
16.5 Quaker Oats
16.6 Califia Farms
16.7 Danone
16.8 Oatly
16.9 Rice Brewing
16.10 HP Hood LLC
16.11 Elmhurst
16.12 Earth's Own Food Company Inc
16.13 The Hain Celestial Group Inc.
16.14 Thrive Market Inc.
List of Tables
1 Global Oat Milk Market Outlook, By Region (2020-2028) ($MN)
2 Global Oat Milk Market Outlook, By Form (2020-2028) ($MN)
3 Global Oat Milk Market Outlook, By Conventional (2020-2028) ($MN)
4 Global Oat Milk Market Outlook, By Organic (2020-2028) ($MN)
5 Global Oat Milk Market Outlook, By Product (2020-2028) ($MN)
6 Global Oat Milk Market Outlook, By Flavored (2020-2028) ($MN)
7 Global Oat Milk Market Outlook, By Plain (2020-2028) ($MN)
8 Global Oat Milk Market Outlook, By Formulation (2020-2028) ($MN)
9 Global Oat Milk Market Outlook, By Sweetened (2020-2028) ($MN)
10 Global Oat Milk Market Outlook, By Unsweetened (2020-2028) ($MN)
11 Global Oat Milk Market Outlook, By Claim (2020-2028) ($MN)
12 Global Oat Milk Market Outlook, By Nut free (2020-2028) ($MN)
13 Global Oat Milk Market Outlook, By Regular/No claim (2020-2028) ($MN)
14 Global Oat Milk Market Outlook, By Gluten free (2020-2028) ($MN)
15 Global Oat Milk Market Outlook, By Artificial preservatives & color free (2020-2028) ($MN)
16 Global Oat Milk Market Outlook, By Other Claims (2020-2028) ($MN)
17 Global Oat Milk Market Outlook, By Packaging Size (2020-2028) ($MN)
18 Global Oat Milk Market Outlook, By More than 1000 ML (2020-2028) ($MN)
19 Global Oat Milk Market Outlook, By 1000 ML (2020-2028) ($MN)
20 Global Oat Milk Market Outlook, By 100 ML (2020-2028) ($MN)
21 Global Oat Milk Market Outlook, By 500 ML (2020-2028) ($MN)
22 Global Oat Milk Market Outlook, By 110 ML (2020-2028) ($MN)
23 Global Oat Milk Market Outlook, By 250 ML (2020-2028) ($MN)
24 Global Oat Milk Market Outlook, By Other Packaging Sizes (2020-2028) ($MN)
25 Global Oat Milk Market Outlook, By Type (2020-2028) ($MN)
26 Global Oat Milk Market Outlook, By Refrigerated oat milk (2020-2028) ($MN)
27 Global Oat Milk Market Outlook, By Shelf stable oat milk (2020-2028) ($MN)
28 Global Oat Milk Market Outlook, By Packaging Form (2020-2028) ($MN)
29 Global Oat Milk Market Outlook, By Bottle (2020-2028) ($MN)
30 Global Oat Milk Market Outlook, By Carton (2020-2028) ($MN)
31 Global Oat Milk Market Outlook, By Tetra Packs (2020-2028) ($MN)
32 Global Oat Milk Market Outlook, By Can (2020-2028) ($MN)
33 Global Oat Milk Market Outlook, By Distribution Channel (2020-2028) ($MN)
34 Global Oat Milk Market Outlook, By Grocery stores (2020-2028) ($MN)
35 Global Oat Milk Market Outlook, By Supermarket/Hypermarket (2020-2028) ($MN)
36 Global Oat Milk Market Outlook, By Online Retail (2020-2028) ($MN)
37 Global Oat Milk Market Outlook, By Application (2020-2028) ($MN)
38 Global Oat Milk Market Outlook, By Speciality Stores (2020-2028) ($MN)
39 Global Oat Milk Market Outlook, By Mainstream Stores (2020-2028) ($MN)
40 Global Oat Milk Market Outlook, By Beverage (2020-2028) ($MN)
41 Global Oat Milk Market Outlook, By Food (2020-2028) ($MN)
42 Global Oat Milk Market Outlook, By Other Applications (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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