Global Oat Milk Market
As stated in our extensive report; the Global Oat Milk Market accounted for USD 2.5 Billion in the year 2022 and is forecast to reach USD 6.2 Billion by 2030 at a CAGR of 13.9%.
The market for Oat Milk has expanded rapidly over the past decade due to the rising demand for plant-based milk substitutes. Oat Milk is becoming increasingly popular among consumers as a better-for-the-earth substitute for dairy milk. Oat Milk is a healthier alternative for lactose intolerant or with dietary restrictions. The use of Oat Milk instead of cow milk has changed because of growing awareness of animal rights and environmental sustainability. On the other hand, the consumption of animal-based products is declining because of an increase in vegan diet.
Factors influencing global Oat Milk market
The growth of the global Oat Milk market can be attributable to the following:
- Growing health and wellbeing concerns are driving up demand for plant-based milk substitutes. Customers are searching for dairy-free options as they become more health conscious.
- The market for Oat Milk is impacted by the rising demand for environmentally friendly and sustainable goods. Oat Milk is a more sustainable option compared to other plant-based milk alternatives because oats require less water and resources than other crops.
- The rising demand for Oat Milk is due to consumers’ preference for vegan diets due to animal rights and environmental concerns. Additionally, rising awareness about the health benefits of Oat Milk is supplementing the consumption of Oat Milk because Oat Milk helps to increase immunity, maintain blood sugar levels, improve digestion, and provide a variety of other benefits.
- Product development and introducing new tastes, formulas, and packaging can attract more customers and boost sales. Businesses that make an investment in product innovation and development can set themselves apart from rivals and expand their market share.
The price of a product plays an important role in influencing consumer demand. Hence, the demand for Oat Milk may be impacted by the cost of the product in comparison to other plant-based milk substitutes and dairy milk as Oat Milk costs more than dairy milk.
Asia Pacific Region to Dominate the Market in the Forecast Period
The Oat Milk market is dominated by the Asia-Pacific region. There is a rising tendency towards a healthy diet and way of life, fueling demand for plant-based milk substitutes like Oat Milk. The desire for premium food and beverage items like Oat Milk is also driven by the region’s sizable and quickly expanding middle class, which has considerable spending power.
Some of the world’s biggest Oat Milk producers and consumers are found in the Asia Pacific area, with China and Japan serving as important export markets. China is also one of the biggest users of Oat Milk worldwide.
Due to the substantial consumer demand for vegan and plant-based products in the region, the market in the Europe region accounted for a sizeable portion. To enhance their market share, Oat Milk manufacturers are focusing on the nations in the region. One of the market’s major player, Califia Farms, has introduced an oat drink that exclusively for the consumers in the U.K. market.
The market for Oat Milk has rapidly expanded in recent years and is predicted to do so in the future. The rising demand for plant-based milk substitutes as people grow more environmentally and health-conscious drives Oat Milk’s appeal. Oat Milk is considered a healthier and more environmentally friendly alternative to dairy milk since it is naturally free of lactose, cholesterol, and saturated fat. It also uses a lot less water and emits fewer greenhouse gases than the manufacture of dairy milk. The Oat Milk market has already been joined by significant companies in the food and beverage industry, who have introduced their own Oat Milk products. Businesses can benefit as the market expands by creating cutting-edge Oat Milk products and advertising campaigns that engage customers looking for sustainable and nutritious solutions.
The well-known players of the Global Oat Milk Market include Oatly (Sweden), Rise Brewing (U.S.), Thrive Market (U.S.), Happy Planet Foods (Canada), Califia Farms (U.S.), The Coca-Cola Company (U.S.), Pacific Foods (U.S.) and others.