Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Almond Milk market.
Trusted Business Insights presents an updated and Latest Study on Almond Milk Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Almond Milk market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
**THIS MARKET RESEARCH COVERS THE BUSINESS IMPACT OF COVID-19**
Starting Tuesday 21st of April 2020 4,200 Starbucks stores in China will be serving vegetarian-friendly items such as oat milk matcha lattes. Analysts think that introduction by Starbucks may be a prelude to an explosion in the market segment of the plant-based sector FMCG products.
Oat Milk Market and Industry Trends:
Global Oat Milk Market size exceeded USD 250 million, globally in 2019 and is estimated to grow at over 10.2% CAGR between 2020 and 2026. Rising dairy milk allergies along with increasing awareness of potential benefits of oat milk are giving a boost to the global market demand. Oat milk has two other advantages that fit well with the rise of veganism. Firstly, its nutritional properties: It”s low in calories, possesses lots of fibre, has more protein than other grains and unlike soy or almonds is known to cause few allergies. Secondly, it minimizes the impact on our natural resources. The production of cow”s milk and almond milk requires about 15 and 8 times the amount of water needed to make oat milk respectively, according to a study published in the journal Science in 2018.
Sustainability is becoming an important selling point(especially Millenials) and it”s something that clearly resonates with consumers. Oatly markets that it sends some of its residues to mushroom farms to be used in the soil while Elmhurst claims it produces almost no residue.
Oat milk has another major advantage over its competitors: production costs, which are around one third less than that of almonds. Baristas prefer Oat Milk over any plant-based milk as they steam and froth similar to dairy-based milk. Additionally, oat milk is neutral in taste compared to almond or soy-based milk.
Oat milk is a lactose-free, gluten-free & plant-based drink made from liquefied oats and widely used as a milk replacement in coffee, tea, chai latte, smoothies, and health drinks. Oats are easy to cultivate which makes the product economical and widely available throughout the year. Also, it is utilized in preparing various bakery & confectionery items such as chocolates, sweets, and muffins which is likely to stimulate oat milk market demand. Oat milk may soon become King of Plant-based milk dethroning Almond Milk(current champion).
Rising cases of lactose intolerance and changing consumer perceptions on nutrition are expected to boost the market outlook. Consumers are shifting towards low calorie and nutrition-rich substitutes which is making industry players manufacture innovative products. Also, rising awareness on nutritional benefits such as a rich concentration of calcium and Vitamin B12 is likely to encourage consumption and boost unflavoured oat milk industry demand.
Strict regulations by FDA in U.S. on labeling have made it mandatory for oat milk manufactures to specify the concentration of natural sugar, fat, and protein on the packaging. This regulation is increasing competition in the market as industry players are switching towards organic solutions to favor oat milk in an attempt to capture health-conscious consumers. Also, these regulations aid industry players in competing globally which should fuel the market share.
Leading Manufacturers and Companies of Oat covered in this report:
Oatly, Rise Brewing, Happy Planet Foods, Thrive Market, Califia Farms, Elmhurst, Pacific Foods, Danone, Alpro, Provitamil, Plenish, Minor Figures, Innocentdrinks, Valsoia SpA, Rude Health, Isola Bio, Chobani
Growth Drivers:
North America: Rising cases of lactose intolerance and increasing demand for low-calorie milk substitutes.
Europe: Increasing adoption of vegan diets and changing perceptions on nutrition
Asia Pacific: Rising living standards and rapid demand for plant-based alternatives
Pitfalls & Challenges:
Easy availability of substitute products
Increasing consumption of organic oat milk owing to the rapid rise in vegan diets to boost market statistics.
Oat milk market share is segmented by source into organic and conventional. Increasing adoption of vegan diets owing to rising awareness on animal rights is likely to stimulate market trends. Oat milk is widely used as a substitute for traditional milk owing to its neutral taste, nutritional profile, and easily digestible nature. Additionally, its rich concentration of branched amino acids helps in proper growth without triggering blood insulin level which should accelerate the oat milk industry share.
Organic oat milk segment is likely to grow at a CAGR of over 10.5% through 2026 owing to its compatibility with confectionery, and bakery items which makes it ideal for vegan preparations. Consumers are rapidly adopting organic oat milk products in daily diets to strengthen the immune system and reduce the risk of osteoporosis. It is rich in calcium and easily digestible protein which also makes it compatible with preparing smoothies and shakes which is likely to augment the market statistics.
Rapid investments in innovative carton packaging solutions and marketing to accelerate market demand
Oat milk market from cartons is likely to witness over 10% CAGR through 2026 owing to increasing demand for high-quality tetra pack and high shelf-life solutions. Industry players are rapidly investing in carton packaging owing to its lightweight and sustainable nature. Furthermore, innovations such as refrigeration compatible and UV protection cartons are making customers opt for oat milk cartons instead of bottle or plastic solutions which should trigger product demand.
Industry players are investing in various marketing initiatives to design modern and attractive packaging solution to target the young population. Also, carton solutions are ideal for schools and universities as it minimizes waste. Consumers are rapidly moving towards carton solutions as they are lightweight, easy to stock, and dont add up to non-biodegradable waste which is likely to augment carton-based oat milk market demand.
Rising awareness on health benefits of oat milk and rapid adoption by the confectionery industry to boost U.S. market demand
North America”s oat milk market is set to witness over 9.5% CAGR through 2026 due to increased awareness of the health benefits of oat milk. Consumers are rapidly moving towards high-quality protein sources with low-fat concentration. Furthermore, increasing demand for vegan alternatives in traditional food & beverage preparations is likely to foster the regional industry landscape.
Industry players in the region are rapidly investing to manufacture high-quality oat milk to capitalize on emerging healthcare trends in the market. Also, increasing the adoption of oat milk by celebrities and fitness models is changing consumer outlook towards consumption of oat milk. Consumers are switching from traditional milk to oat milk alternatives in an effort to stay fit and gain muscle mass which should trigger market demand.
New product development and establishment of manufacturing facilities remain pivotal growth and market entry strategy.
Manufacturers are engaged in sourcing high-quality raw material, developing propriety technology, and introducing new markets to establish their brand and quickly gain brand recognition. Furthermore, stringent regulations in food & beverage manufacturing is making industry players opt for natural flavoring and sweetening agents in an attempt to capture maximum market share.
In October 2018, a Swedish firm, Oatly AB opened it first oat milk processing facility in the United States to cater surging the North American market. The company manufactures various kinds of flavored & unflavoured and this new facility will help in establishing their presence outside Europe.
In January 2019, Danone owned oat milk brand silk announced new oat milk products in plain, vanilla, and chocolate flavors. These products will be available in carton solutions and made from NON-GMO oat crop. This will help the company to target health-conscious & young consumers, gain brand recognition, and boost regional presence. The company is also planning to introduce oat milk-based yogurts and beverages to further capture market share.
Oat milk market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Million Liters and revenue in USD from 2015 to 2026, for the following segments:
Oat milk market segmentation By Source
- Organic
- Conventional
Oat milk market segmentation By Type
- Flavoured
- Unflavoured
- Oat-Based Creamers
Oat milk market segmentation By Packaging
- Cartons
- Bottles
- Others
Oat milk market segmentation By Sales Channel
- Mainstream Stores
- Specialty Stores
- Online
- Others
Looking for more? Check out our repository for all available reports on Almond Milk in related sectors.
Quick Read Table of Contents of this Report @ Oat Milk Market Size By Source (Organic, Conventional), By Type (Flavoured, Unflavoured), By Packaging Form (Carton, Bottle), By Sales Channel ( Online, Mainstream Stores, Speciality Stores), Regional Outlook, Growth Potential, Industry Analysis Report, Price Trends, Competitive Market Share & Forecast, 2020 -2027
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