The oat milk market is estimated to reach US$1,694.667 million by 2024 growing at a healthy CAGR over the forecast period. The Oat Milk Market Forecasts from 2020 to 2025 study is aimed at presenting the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market drivers, restraints, and opportunities in the current market with a comprehensive Life Cycle Analysis.
Oat milk market has been segmented based on source, type, packaging, application, distribution channel, and geography. By Source, the Oat Milk Market has been classified as Organic and Conventional. By Type, it has been classified as Flavoured and Unflavoured. By Packaging, segments formed are Carton and Bottle. By Application, Beverage and Bakery are the two segments. By Distribution Channel, Online and Offline channels are being used. By Geography, this market has been segmented as North America, South America, Europe, The Middle East and Africa, and Asia-Pacific. Regional analysis has been provided with detailed analysis and forecast for the period 2020 to 2025. Asia-Pacific region is expected to witness a significant CAGR over the forecast period due to rising incomes and changing lifestyles.
Major players in the Oat Milk Market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in this particular sector.
A plant-based milk alternative, Oat Milk, is formed by soaking, blending and straining oats soaked in water. It is a vegan-friendly milk substitute, with artificially infused nutrients like iron and vitamins A & D. The Oat Milk has more calories and fibers as compared to its alternatives such as Almond Milk, Soy Milk or Cow’s Milk. It is made with just oats and water making it a lactose-free milk substitute. Rising intolerance towards lactose is the major demand driver of oat milk.
Growing attention to health
The entry of big players in the market
Availability of substitutes
As a result of changing human lifestyles across the globe, a slew of health-related issues is cropping up. Lactose tolerance has reduced among 65% (approx.) of the human population after infancy. Geographically, lactose intolerance is quite low in Northern Europe at about 5% due to their dependence on unfermented milk products whereas it is very common among people with East Asian descent at about 70 to 100 percent people being affected with it (Source: National Library of Medicine). Oat milk is a great substitute for milk for such lactose-intolerant people. Recently, a major chunk of the population is experiencing deficiencies of B & D Vitamins (mainly B12 and D3), which are predominantly associated with monitoring stress & mood and bone health, due to less exposure to sunlight and poor eating habits. Oat Milk is a rich source of Vitamin B and D and thus, gaining traction among masses. Additionally, high-fiber content in oat milk is linked to a healthier heart and better digestive system. Due to lack of physical inactivity, cases of obesity are witnessing a surge and a focus is shifting towards fat-free milk products such as Oat milk.
Oat milk is not being sold as a substitute but also as a raw material to prepare several other products like bakery products or beverages. In February 2019, Quaker Oats, a Pepsico owned Company, launched Oat Beverage. Danone’s Silk brand also introduced an Oat-based beverage Oat Yeah. Such products are gaining popularity with rising health awareness. Producers are also bringing more flavored varieties of oat milk to augment the demand for oat milk, though unflavoured milk holds the major share of the market. Organic oat milk is also growing its demand as more people are shifting towards chemical-free diets. Companies have also started using branding and packaging tools to attract new customers. It is believed that Oatly, a Swedish Oat Milk Company, has led to the rise of Oat milk due to its robust marketing tactics.
With more people adopting vegan diets out of health reasons or concern for animals, demand for plant-based products is also rising. Also, cow and other bovine animals are a great source of greenhouse gas emissions, which adds more to the environmental concerns. Almond Milk, a substitute of the Oat milk market, involves excessive exploitation of water resources as almond is a water-intensive crop. This fuels the demand for oat milk as an eco-friendly product. Oat milk is also thicker and creamier than its alternatives which are its unique selling point.
There are some restraints that this market faces. This is not as nutritious as oats and hence cannot replace oats to a great extent. There are other kinds of plant-based milk in the market like Soy Milk and Almond Milk which have their own comparative advantages. Some oat milk contains gluten while some are heavily infused with sugar content, hence a precaution has to be shown while purchasing oat milk.
At present, there are not enough sellers of Oat Milk and being a growing segment, there exists a great opportunity in investing in this industry. People are also willing to pay big sums of money for plant-based Oat Milk. Even coffee shops have started offering oat-based and almond-based milk coffees to meet the demands of new emerging customers. For instance, In January 2020, Starbucks has added Oat milk coffee as a vegan alternative to dairy. Greek yogurt maker Chobani has launched oat milk-based milk and yogurt as an expansionary plan.
The global oat milk market has been analyzed through the following segments:
By Distribution Channel
Middle East and Africa