Oat Milk Market size to exceed $490mn by 2026
Published Date: March 31, 2020 Authors: Kunal Ahuja, Kritika Mamtani
Oat Milk Market size is set to surpass USD 490 million by 2026, according to a new research report by Global Market Insights, Inc.
Oat milk is produced from liquidized oats and is marketed is flavored & unflavored product. Companies are investing in various methods of extracting pure oat milk without adulteration and preserving essential nutrients. Industry players are investing in market to take advantage of emerging weight management and healthcare trends in market. Rapid shift of consumers towards animal cruelty free ingredients is likely to boost oat milk market demand.
Consumers are rapidly moving towards plant based dairy alternatives owing to increasing cases of animal borne diseases. Oat milk is the preferred choice owing to its high calcium, fiber, vitamin, and amino acid content. Its easily digestible nature and neutral taste along with low calorie concentration makes it ideal for young and old consumers which is likely to trigger oat milk industry demand.
Increasing prevalence of specialty stores and rapid demand for alternative solutions to boost market statistics. These stores are an important part of oat milk market sphere as industry players are using targeted approach to attract customers. Furthermore, specialty stores contain wide variety of products which makes it easy for customers to arrive at purchase decision which is likely to augment the global industry demand.
Changing perception on nutrition and rising adoption of oat milk in preparing bakery products to foster market outlook
Increasing inclination for plant based and natural ingredients in baking industry along with easy availability of unflavored oat milk should boost market trends. It is widely used to replace milk in bakery preparations and is compatible with other vegan ingredients. Bakeries are rapidly giving vegan or alternative options to customers in an attempt to boost their sales and oat milk is the preferred option owing to is similar free flowing consistency and neutral taste like milk which should boost market demand.
The market for unflavored oat milk is set to surpass USD 310 million by 2026 owing to rising disposable income coupled with rapid shift towards vegan diets. Oat milk can also be used to prepare various types of breads, rolls, and biscuits owing to its quick binding properties. Industry players are rapidly using oat milk instead of traditional milk in an attempt to broaden their consumer base in healthy food segment which is likely to foster oat milk market demand.
Browse key industry insights spread across 175 pages with 270 market data tables and 22 figures & charts from the report, “Oat Milk Market Size By Source (Organic, Conventional), By Type (Flavored, Unflavored), By Packaging Form (Carton, Bottle), By Sales Channel (Mainstream Stores, Specialty Stores), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rapid shift towards flavored oat milk coffee products and increasing investment in marketing to boost product demand
Industry players are introducing attractive marketing slogans and advertising on social media to attract young population. Rapid introduction of flavored oat milk products in market is making it is easy for consumers to switch. Furthermore, manufactures are using high quality natural flavoring ingredients such a coffee sourced from Columbia or Swiss dark chocolate to further diversify their product lines in an attempt to capture market share thereby boosting oat milk market share.
Manufactures are also engaged in rapid product development and setting up new facilities to quickly enter markets in order to gain brand recognition. Oat milk is compatible with various flavoring ingredients and can be also used with whey protein powders which is attracting fitness enthusiasts and body builders. Furthermore, changing consumer perceptions towards nutrition and healthy eating habits is likely to augment oat milk market trends.
“As per industry forecasts, market for flavored oat milk will grow with CAGR of 10.4% through 2026 owing to increasing demand for vegan solutions and shift in dietary patterns fueled by rising living standards”.
Increasing geriatric population and rising cased of lactose intolerance to boost product demand in Europe
Increasing geriatric population and rising cases of digestive disorders is making consumers to opt for light oat milk products. Additionally, increasing case of lactose intolerance has opened up new market segment catering to vegan and plant-based alternatives. Industry players in the region are sourcing raw materials from local farmers and manufacturing oat milk preparations using traditional methods to gain competitive edge in market which is likely to propel oat milk market share.
Increasing penetration of internet along with expansion of online retail channels is likely to boost demand. Local manufactures are directly shipping their products from factories to gain cost advantage from international players. Furthermore, rapid investment in marketing and quick adoption in schools, universities, and office canteens is likely to foster industry outlook.
“As per industry forecasts, Europe oat milk industry is likely to surpass USD 120 million by 2026 owing to rapid adoption of oat milk in schools & universities along with changing perceptions on nutrition and positive tilt towards vegan alternatives”.
Manufactures are rapidly investing in new packaging methods, and oat milk extraction technology to gain maximum market share in this growing industry. Also, quick penetration of glass packaging in oat milk industry and high-quality refrigeration systems is making the supply chain more feasible. Industry players are distributing free samples in schools, universities, and markets in an attempt to boost impulse buying phenomena which should boost product demand. Some key players in oat milk market include Danone, Oatley, Rise Brewing, PepsiCo, Happy Planet, Pacific Food, Elmhurst, and Califia farms.
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