Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Oat Milk Market Size, Share, Trends, By Product, Packaging, By Distribution Channel and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The oat milk market is experiencing significant growth, with the global market size reaching USD 2.48 billion in 2021 and expected to continue growing with a revenue CAGR of 14.5% during the forecast period.
This growth can be attributed to the increasing health-conscious population and the rising demand for vegan and plant-based diets. Many people who are lactose intolerant or have concerns about calorie intake and hypercholesterolemia are adopting oat milk as a dairy alternative due to its health benefits.
Moreover, the prevalence of chronic ailments such as diabetes is driving demand for functional and specialty beverages, and oat milk is considered one of the best options for consumers, especially millennials and Generation Z, who are more inclined toward refreshments with added health benefits. Additionally, oat milk has a higher carbohydrate content than most plant-based alternatives but contains no saturated fats, making it a popular choice for those who seek nutritional value in their beverages.
The global oat milk market has been divided into two segments, plain and flavored, based on the type of product. The plain oat milk segment is projected to experience a stable revenue growth rate during the forecast period due to an increasing preference for products without added preservatives, flavors, and artificial colors. Since plain oat milk has no distinct flavor or odor, it is preferred by beverage companies in beverage production.
The flavored oat milk segment, on the other hand, is expected to experience significant revenue growth due to an increasing demand for different flavors, such as chocolate, vanilla, and fruity flavors, to cater to different taste preferences. The oat milk companies are introducing more flavors to make this healthy beverage more attractive to millennials and generation Z.
The global oat milk market has been segmented into cartons, bottles, and others based on packaging. The carton segment is predicted to grow rapidly during the forecast period due to its protective packaging that keeps the product safe during long-distance transportation, shipment, and handling. The carton packaging is stackable, and it reduces the amount of time needed to transport belongings. Additionally, cartons are environmentally friendly, which is a significant goal for companies that are working towards environmental sustainability. The bottle segment is moderately preferred due to its adaptability, cost-effectiveness, and customizability.
In 2021, the largest revenue share of the global oat milk market was seen in Europe, attributed to the rising health awareness among people and the increasing vegan population, leading to a growing demand for dairy alternatives, especially plant-based beverages. European consumers have distinct preferences for plant milk, which is driving the popularity of veganism and oat milk consumption. Furthermore, lactose sensitivity is also contributing to the demand for dairy alternatives.
However, the inflation is causing companies to increase their prices to maintain their profit margins, such as Nestle, which announced a 5.2% increase in food and FMCG prices due to global price increases caused by factors like climate change and war.
In North America, the growth of the oat milk market is significant, driven by the increasing popularity of veganism, and the growing demand for oat milk as a substitute for cow's milk worldwide.
Oat milk's similarity in taste, health benefits, and durability is driving its popularity. Manufacturers are using innovative oat milk extraction technologies to differentiate their products in national markets. Companies are investing in market expansion through mergers and acquisitions, product launches, and innovations, such as Chobani's addition of high-protein, lactose-free, ultra-filtered milk, and half-and-half coffee creamers to its dairy lineup in February 2022.
The oat milk market in the Asia Pacific region is expected to register steady revenue growth over the forecast period. The demand for oat milk is increasing due to customers' need to strengthen their immune systems.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Oat Milk Market Segmentation & Impact Analysis
4.1. Oat Milk Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Increasing demand for functional and specialty beverages
4.2.2.2. Health issues such as dairy intolerance, diabetes, calorie concerns, and hypercholesterolemia
4.2.3. Market restraints analysis
4.2.3.1. Contamination of oat milk
4.2.3.2. Misleading claims by companies to gain consumer attention
Chapter 5. Oat Milk Market By Product Insights & Trends
5.1. Product Dynamics & Market Share, 2022 & 2030
5.2. Plain
5.3. Flavored
Chapter 6. Oat Milk Market By Packaging Insights & Trends
6.1. Packaging Dynamics & Market Share, 2022 & 2030
6.2. Cartons
6.3. Bottle
6.4. Others
Chapter 7. Oat Milk Market By Distribution Channel Insights & Trends
7.1. Distribution Channel Dynamics & Market Share, 2022 & 2030
7.2. Supermarkets & Hypermarkets
7.3. Convenience Stores
7.4. Online
7.5. Others
Chapter 8. Oat Milk Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/pd6uyf
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