According to the latest report by IMARC Group, titled “Oats Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global oats market size reached US$ 5.4 Billion in 2022. Oats are cereal grains that are generally obtained from the Avena Sativa plant suitable for human consumption as rolled oats and oatmeal. They are gluten-free whole grains that are a rich source of various essential nutrients, such as soluble fiber, minerals, antioxidants, essential fatty acids and vitamins. They are generally consumed for maintaining blood sugar and cholesterol levels and weight management. Additionally, they are used for easing constipation, promoting the growth of healthy bacteria in the gut and providing antioxidants for improved blood circulation in the body. Additionally, they are also utilized in the processed form as animal feed and for the manufacturing of multiple skincare products since it helps in relieving skin itching and irritation.
Global Oats Market Trends:
The global market is primarily driven by the rising health-consciousness among the masses. Coupled with the increasing preference for maintaining a healthy lifestyle among individuals, this is providing a boost to the market growth. This is supported by the rising awareness regarding the health benefits of consuming oats and the changing dietary patterns of the masses. Along with this, the increasing preference for convenient and easy-to-cook food items due to the hectic working schedules of working professionals is creating a positive outlook for the market. Moreover, the rising utilization of oats in the preparation of bakery products and dietary supplements is further propelling the market growth. Additionally, leading manufacturers and sellers are heavily investing in the development of aggressive marketing strategies, promotional campaigns and celebrity endorsements, which are also positively influencing the market growth. Other factors, including the increasing prevalence of celiac diseases among the masses and the easy product availability via online and offline organized retail channels, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.1 Billion by 2028, growing at a CAGR of 2.1% during 2023-2028.
- On the basis of the product type, the market has been segmented into flakes, flour, bran and others. Among these, oat flakes are currently dominating the market segment.
- Based on the application, the market has been bifurcated into food and feed uses.
- On the basis of the regional insights, the market has been divided into Russia, Canada, Australia, the United States, Chile, China, Ukraine and others. Presently, Russia accounts for the majority of the total market share.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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