According to the latest report by IMARC Group, titled “Oats Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global oats market reached a volume of 27 Million Tons in 2017. Oats, scientifically known as Avena Sativa, are a type of cereal generally consumed in the form of oatmeal or rolled oats. They are a rich source of dietary fiber and possess beneficial properties which help in lowering the unhealthy cholesterol. Oats can be processed into oat bran and fiber so as to acquire particular fractions of the grain which have a high-fiber content. There are several steps that have to be followed for processing oats, including cleaning, hulling and kilning. After this, oats are converted into household staples like instant oats, rolled oats and steel cut oats. Besides this, they are also used as basic ingredients in breakfast cereals as well as in baked goods such as oat bread, cookies and cakes.
Due to its high hull and fiber content, oat grain is considered as a good dietetic food for young ruminants and helps to develop their rumen. As a result, oats have majorly been used in animal feed which has boosted the growth of the market. Apart from this, rising awareness of the health benefits of oats has escalated the demand for healthy breakfast foods and snacks such as muesli, granola bars, biscuits, cookies, oatmeal, etc. Moreover, the manufacturers are incorporating regional tastes and introducing new oatmeal flavors, such as Kesar, apple and cranberries, cinnamon and spice, etc., in order to widen their consumer-base. Further, the growing popularity of organic oats is also contributing to the growth of the market. Owing to the abovementioned factors, the global oats market volume is projected to exceed 32 Million Tons by 2023, expanding at a CAGR of 3% during 2018-2023.
- The oats market has been analyzed on the basis of applications which mainly include food use and feed use. At present, oats are majorly used for the preparation for livestock feed.
- Based on type, the market has been categorized into flakes, flour and bran. Amongst these, flakes represent the largest segment on account of high consumption of oats in the form of breakfast cereal.
- On a regional basis, Russia is the largest producer of oats, holding the majority of the market share. Some of the other major markets include Canada, Australia, United States, Chile, China and Ukraine.
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