Market Overview
Global Oat Milk Market is growing at a high rate due to lifestyle changes. Customers in different locations opt for plant-based food items that provide numerous health benefits.
Customers are becoming aware of varied health issues supporting the transformation to a vegan lifestyle. This has increased the lifestyle for milk with lower fat content, which is expected to lead to the Oat Milk Market outlook.
To reap the opportunities of enhanced market growth, companies have been developing several flavors to attract a customer base. Also, adopting plant-based food materials has increased the demand and production of the dairy-free beverage.
The transformation from non-veg, veg diets to vegan ones is owing to health, environment, and ethical concerns. Oat Milk Market is expected to be valued at USD 3.68 billion with a CAGR of 7.2%. The growth rate in the market is accelerated with the shortcoming of the pandemic, which implies following a healthy lifestyle.
Market Segmentation
Oat milk market segmentation includes flavour, source, packaging forms, and distribution channels. Based on flavor, it is further subdivided into plain and flavoured. At the same time, the source segments include organic and conventional. The Oat Milk Market in packaging is subdivided into cartons and bottles.
The distribution channel is subcategorised into the store and non-store based. The store-based category will include supermarkets, hypermarkets, speciality, and grocery stores. On the contrary, the non-store-based category will include online retail, e-commerce and others.
Regional Classification
The regional classification will include North America, Europe, Asia- Pacific and other regions. The Oat Milk Market will grow faster in the US, Canada and Mexico. Currently, North America holds the highest market share, which is expected to rise in the upcoming regions. This will owe to a rise in health awareness and perceived benefits of plant-based milk. The Oat Milk Market in the European region will be attributed to Germany, France, the UK, Italy and Russia.
The growth rate in Germany is expected to grow as it produces huge quantities of oat milk, which has made the country a market leader. Other countries in this region will also contribute to the growth rate. Asia- Pacific will also contribute to a high growth rate.
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The demand and availability in countries like China, Japan and other regions in South East Asia. Hence, Oat Milk Market in Asia will provide huge profits to the key players in this market.
It is expected that e-commerce platforms will also help improve profits, and the Oat Milk Market growth will increase globally.
Industry News
Many coffee brands like Starbucks have been increasingly using oat milk to attract a vegan customer base. The key players in Oat Milk Market insight will collaborate with such firms to meet the demand for plain oat milk and earn profits.
A vital key player named Oatly has introduced new oat milk categories that are organic, plant-based beverages. In addition, Chobani has also introduced oat milk in its existing product portfolios. The strategies undertaken by the companies will increase the Oat Milk Market's growth in the upcoming years.
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