BANGALORE, India, Nov. 19, 2020 /PRNewsCentre/ — The Oat Milk Market Report is segmented by Source (Organic and Conventional), Flavor (Plain and Flavored), Packaging Form (Carton and Bottle), and Distribution Channel (Supermarket & Hypermarket, Grocery Store, Online Retail, and Others). It also covers Global Opportunity Analysis and Industry Forecast to 2027. This report is published on Valuates Reports in the Beverages Category.
The global oat milk market size was valued at USD 360.5 Million in 2019 and is projected to reach USD 995.3 Million by 2027, registering a CAGR of 13.4% from 2021 to 2027. In 2019, the conventional oat milk segment accounted for the highest share in the oat milk market.
Major factors driving the growth of oat milk market size are, growing understanding about the benefits of oat milk, increasing vegan diet popularity and increasing cases of milk allergies.
The goal of the Oat Milk Market report is to present key market trends through various chapters focusing on different aspects of the market. The report offers a quantitative market overview that details key market growth factors, constraints, and opportunities in the current market with a thorough life cycle analysis through the market dynamics sections.
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TRENDS INFLUENCING THE OAT MILK MARKET
Adequate calcium intake decreases the chances of osteoporosis and helps preserve cardiovascular health in the muscles and nerves. Oat milk’s health benefits are expected to drive the oat milk market size during the forecast period. Furthermore, the increasing instances of lactose intolerance are also boosting demand for the oat milk market.
Consumers are purchasing goods in bulk due to the lockdown in many major cities across the globe. Since oat milk is durable, it can be stored for a longer period than other non-dairy milk products. Also, oat milk has a lower carbon footprint than other milk products. All these factors are, in turn, expected to increase the growth of the oat milk market size.
Increased acceptance of the vegan diet among consumers in the recent past has fuelled demand for alternative dairy beverages. Consumers are changing their preference to plant-based milk due to nutritional, environmental and ethical factors. The increasing vegan diet trend is expected to fuel the growth of the oat milk market size.
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COVID-19 IMPACT ON OAT MILK MARKET
As a result of the outbreak of the COVID-19 pandemic, demand for functional drinks has increased considerably due to rising consumer spending and health awareness. COVID-19 is expected to further fuel demand for the oat milk market at a much higher rate, as consumers become more aware of the need to improve their immune systems in order to prevent them from being infected easily, thereby pressuring them to maintain a healthy lifestyle and a proper diet.
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OAT MILK MARKET SHARE ANALYSIS
North America accounted for the largest oat milk market share in 2019 and is projected to witness major growth during the forecast period as well. This dominance of North America is attributed to the growing consumer awareness about the health benefits of oat milk, along with an increasing number of new product launches. The demand for plant-based foods in the U.S. market is expected to increase rapidly, thereby promoting the oatmeal market growth.
The Asia Pacific is expected to be the fastest-growing regional market due to the high demand for oat milk and improved living standards. Oat milk is commonly used in the preparation of ice creams and confectionery and bakery products, as key players are seeking to take advantage of new fitness trends in the region.
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TOP COMPANIES IN THE OAT MILK MARKET
Strict labeling regulations by the FDA in the U.S. have made it mandatory for oat milk manufacturers to specify the concentration of natural sugar, fat and protein in packaging. This legislation is growing competition on the market, as industry players are shifting towards organic solutions to favor oat milk in an effort to catch healthier consumers. These regulations also allow industry players to compete internationally, which in turn fuels the market share.
Some of the top companies in the oat milk market include Califia Farms, LLC, Hain Celestial (Dream), Pacific Foods of Oregon, LLC. (Pacific foods), Danone (Silk), HP HOOD LLC. (Plant Oat), Cereal Base Ceba AB (Oatly), Elmhurst Milked Direct LLC, RISE Brewing Co., Happy Planet Foods Inc., and Earth’s Own Food Company.
KEY MARKET SEGMENTATION
By Packaging Form
By Distribution Channel
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