According to the latest report by IMARC Group, titled "Oat Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global oat milk market exhibited strong growth during 2015-2020. Oat milk is a plant-based and lactose-free milk substitute that is obtained from liquefied oats. It is vegan-friendly and widely used as a milk replacement in various beverages, such as coffee, tea, milkshakes, smoothies, and health drinks. Characterized by a creamy texture, it is also commonly used in the preparation of lactose-free bakery and confectionery food items, including cakes, muffins, cupcakes and chocolates. It is a rich source of iron, calcium, potassium, folate, manganese, zinc, thiamine, magnesium, and vitamin D. Consequently, it is extensively consumed by the masses due to the innumerable health benefits offered by its consumption, such as promoting bone health, regulating blood cholesterol levels and maintaining cardiovascular health.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Oat Milk Market Trends:
The global market is primarily driven by the increasing incidences of lactose intolerance among the masses. Oat milk is characterized by a neutral taste and high nutritional profile, due to which it is widely gaining prominence as a preferred alternative to traditional milk. This is also supported by the growing health awareness regarding the numerous benefits of oat milk. Coupled with the widespread adoption of vegan diets among individuals, this is expected to create a positive outlook for the market. Moreover, oat milk has a smaller carbon footprint when compared to other lactose-free milk products. This, along with an enhanced focus on sustainable development, is acting as a major growth-inducing factor. Furthermore, numerous players are now launching cost-effective and flavored milk products in the market to cater to the diverse preferences of the consumers. Some of the other factors contributing to the market growth include rapid urbanization, inflating disposable incomes of the masses and easy product availability through online and offline retail channels. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 8% during 2021-2026.
- On the basis of the source, the market has been divided into organic and conventional.
- Based on the product, the market has been bifurcated into plain and flavored.
- On the basis of the packaging type, the market has been classified into cartons, bottles and others.
- Based on the application, the market has been bifurcated into food and beverages.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, grocery stores, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players includeCalifia Farms LLC, Earth's Own Food Company Inc, Elmhurst Milked Direct LLC, Happy Planet Foods Inc., Oatly AB (Cereal Base Ceba AB), Pacific Foods of Oregon LLC (Campbell Soup Company), Planet Oat Oatmilk (HP Hood LLC.), RISE Brewing Co., The Hain Celestial Group Inc., and Thrive Market Inc.
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