Oat Milk Market estimated to grow at a CAGR of 72.13% to reach a value of US$1694.667 million by 2024
Oat Milk is a type of a plant-based milk, which is derived from whole oats, is creamy in texture and is considered to be a non-dairy, vegan-friendly and lactose-free substitute for milk. Oat milk is loaded with fiber, contains lesser amount of fat, no cholesterol and offers a host of health benefits than other types of milk. Oat milk is available in the market in different flavors.
According to the report, the Oat Milk Market is projected to expand at an impressive CAGR of 72.13% over the forecast period 2018-2024. The Oat Milk Market is expected to surge during the forecast period which can be attributed to rising concerns of people towards leading a healthier life coupled with the increasing demand from the people suffering from lactose intolerance. Moreover, due to the rising population and changing preferences of people towards a vegan-based and gluten-free diet is also going to bolster the growth of the market. However, due the limited number of companies in this space and inability of these companies to meet the burgeoning demand with limited supply.
The Oat Milk Market is segmented as source, type, packaging, application, distribution channel, and geography. By source, organic oat milk is expected to hold a significant share in the market owing to the fact that this type of oat milk is not enriched with added vitamins and minerals and its content is completely natural. By distribution channel, online mode is expected to hold a considerable amount of market share due to the rising popularity of e-commerce channels, which allow people to order products easily, and in the comfort of their homes. By geography, North America is expected to hold a significant amount of share owing to the fact that people are getting health conscious and their preferences are shifting towards a vegan-based diet. Europe is also expected to hold a considerable amount of share in the market, which can be attributed to increase in demand for these products from the lactose intolerant population.
Furthermore, the upcoming better quality oat milk products with enhanced taste profile and new flavors by market players will continue to drive the oat milk market in the coming years.
Some of the major players covered as part of the report are Pacific Foods, Oatly, Elmhurst, Califia Farms, Danone, HP Hood, PepsiCo, Thrive Market and Happy Planet Foods.
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This report segmented the oat milk market on the basis of the following terms
By Distribution Channel
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
- North America
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