Oat Milk Market Future Scope, Business Growth, Trends, Overview and Shares Analysis
According to Delvens, âGlobal Oat Milk Market Revenue, Share & Trends Analysis Report, By Source (Organic, Conventional), By Product (Plain, Flavoured), By Packaging (Cartons, Bottle), By Distribution Channel, Region, Supply & Demand Side Analysis, and Segment Forecasts, 2023â2030â. The Global Oat Milk Market is expected to reach USD 3.9 billion by 2030 from USD 2.4 billion in 2022, registering impressive expansion at a compound annual growth rate (CAGR) of 12.9%.
The Oat Milk Market report clearly explains what market definition, classifications, applications, engagements and market trends are for the Food & Beverages industry. This market study estimates the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. This global market research report is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Analysis and estimation of important industry trends, market size, and market share are mentioned in the Oat Milk Market report.
Some of the major players are Oatly; Rise Brewing; Thrive Market; Happy Planet Foods; Califia Farms; The Coca-Cola Company; Elmhurst; Pacific Foods; Danone; and HP Hood LLC among others.
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The Global Oat Milk Market report delivers a holistic analysis to understand the development scope and derive the growth rate for the forecast period. The report particularizes the market condition and forecasts the market size in the future. The report further studies the opportunities, influencers, driving factors, and limitations, through a thorough study of the leading market players of the oat milk market from the different global regions, their product types, and application markets. The prime aim of the report is to determine the revenue growth, market value, market share, CAGR, scope, challenges, growth promoters, etc.
Consumers were asked in a study about their experiences with oat milk and how seriously they take environmental issues. It was discovered that younger consumer generations were more likely to have tried or plan to try oat milk (78% for 18â24-year-olds). This information highlights the growing trend of consumers wanting to test new items and suggests that the industry will continue to expand as Gen-Z joins the workforce and starts to have more disposable income. Itâs interesting to note that 25% of respondents said they had tried the beverage but didnât care for it. This suggests that there is still some open space for rival businesses to fill. We also observe that, compared to those who have no interest, a higher percentage of respondents who have tried or want to try oat milk are generally more concerned about the environment.
Players in the business use a variety of marketing channels. The majority of sales in the plant-based milk category now come from chilled variations rather than the original shelf-stable retail offers for plant-based milk. Foodservice collaborations, like the one between Oatly and Starbucks, also contribute significantly to sales. According to Oatly, the food service channel accounts for 36% of its sales. Furthermore, with a CAGR of 14.10% for online sales of oat milk, the e-commerce channel is anticipated to develop the fastest. Oatly claims good margin targets of 40% gross profit margin and 20% adjusted EBITDA margin. The recurrent operating margin for Danone as a whole is 13.1%. An alfalfa-based milk may be able to attain similar or greater margins given the superior availability of alfalfa, its lower production cost, and the assumption of equivalent processing techniques.
Oat Milk Market Report Scope
CAGR of 12.9% during the forecasting period, 2023â2030
Revenue in USD billion and CAGR from 2023 to 2030
Source, Product, Packaging, and Region.
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling
North America, Europe, Asia-Pacific, South America, and Middle East and Africa
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)
PACIFIC FOODS OF OREGON, LLC., Oatly, Califia Farms, Danone, HP HOOD LLC, PepsiCo, HAPPY PLANET FOODS., Drinks Brokers Ltd, Alpro, The Quaker Oats Company, Pureharvest, Danone, The Kraft Heinz Company, Yili Industrial Group Company Limited, China Mengniu Dairy Company Limited, Mother Dairy Fruit & Vegetable Pvt. Ltd., Nestlé, Fonterra Co-operative Group, Lactalis International, Dean Foods, Hiland, Umang Daries Pvt. Ltd., DAIRY FARMERS OF AMERICA, FrieslandCampina, LALA BRANDED PRODUCTS, LLC, Oy Karl Fazer Ab, RISO SCOTTI S.p.A., and Elmhurst Milked Direct LLC
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The marketâs growth is linked to the rise in vegansâ and health-conscious customersâ need for milk made from plants that are high in nutrients. Due to issues including lactose intolerance, allergies, and the rising popularity of low-cholesterol diets, manufacturers have been obliged to introduce several plant-based replacements. This has boosted the market for oat milk, which satisfies customer demand for allergy-free products and has other positive health effects.
Manufacturers like Oatly are searching for unique milk extraction techniques to develop differentiating selling features and differentiate their goods from those of the competitors. Manufacturers purchase premium raw materials directly from farmers, lowering the cost of the finished product and fostering market growth. Due to the increasing consumer tendency towards the consumption of high-protein foods, the market for plant-based milk has grown. The demand for high-protein beverages has increased due to the populationâs predisposition to exercise and sports, and it is anticipated that this trend will continue during the projected period.
Oat Milk Market Segmentation Analysis
Based on the source segment
The conventional source segment had the largest revenue share (almost 72.1%) in 2022 because of its extensive market penetration and cost-effectiveness. Manufacturers are also launching new products to expand their market share. For instance, to attract a sizable customer base, The Coca-Cola Company launched a new oat milk product under its Simply brand in April 2021 with a variety of flavours. The organic source market is predicted to see a significant CAGR between 2023 and 2030. Consumer health consciousness, a preference for pesticide-free products, and knowledge of adulteration in conventional commodities are all factors contributing to this rising growth.
Based on the product segment
The plain category overtook all other product categories in 2022 with a share of around 56.4%. The flavour-based product line appeals to customers and targets the comfort and health categories, growing at a significant CAGR during the projection period. Consumers are becoming more interested in products that offer a pleasurable experience, enhance flavour, and are beneficial to their health. There is a discernible increase in the number of people purchasing oat milk with additional tastes as a result of customer interest in the ethnic and exotic flavours provided by the manufacturers.
Based on the packaging segment
In 2022, the segment selling cartons had the highest revenue share at almost 47.1%. This is a result of the rising need for packaging options with high-quality and long shelf lives. Demand for the segment is also being driven by the growing popularity of Tetra Pak carton packaging, which is predominantly made of paperboard. Because of its lightweight characteristics and sustainability, carton packaging is receiving a major investment from several important organisations. The widespread use of carton packaging for oat milk is a result of a rise in global awareness regarding the sustainability of paper-based cartons. To boost sales, manufacturers and suppliers are emphasising the creation of packaging with eye-catching colours and distinctive patterns.
Based on the distribution channel segment
With a share of over 42.6% in 2022, the supermarkets and hypermarkets segment became the main distribution channel segment. The penetration of oat milk through the supermarket is rising as a result of improvements in the retail industry worldwide and the presence of international brands in these stores. Large grocery chains like Target, Lidl, Kroger, and Walmart sell dairy substitutes like oat milk. Sales of oat milk are anticipated to increase throughout the projection period as a result of consumers being drawn to hypermarkets and supermarkets by annual memberships and discounts offered on large purchases.
Oat Milk Market Regional Insights
With a market share of more than 46.2% in terms of value, Asia Pacific dominated the oat milk market in 2022. The need for nutritious food has increased in Asia Pacific as a result of changing lifestyles, urbanisation, and dietary preferences, which are projected to drive market figures. Due to the increased incidence of cardiovascular diseases and the number of weight management programmes, the market for plant-based milk is predicted to grow favourably in the area.
North America is expected to have significant growth over the anticipated period due to the high level of consumer awareness regarding the protein content and nutritional benefits of oat milk. The great popularity of e-commerce portals as a selling medium has led to an expansion of the market for dairy replacements in the region. The prevalence of lactose intolerance and milk allergies in North America is expected to increase, which will lead to a rise in the use of oat milk. Regional food and beverage makers are incorporating dairy substitutes into their products to appeal to a growing consumer base that is selecting plant-based products, which is causing the industry to expand even more.
Since there was such a high degree of demand for vegan and plant-based products in the region, Europe held a substantial portion of the market in 2022. Oat milk producers are concentrating on the nations in the area to enhance their market share. For instance, Califia Farms introduced a long-life oat beverage in 2020 that was only available to consumers in the United Kingdom. The company wanted to enhance the penetration of its products across the nation by persuading people to switch from dairy milk and reduce their environmental impact.
Oat milk is a vegan product prepared from whole oat grains, which are rich in nutritional fibre, protein, and fatty acids that are vital for maintaining health. Oat milk is used in place of farm milk by vegetarians and others who are lactose intolerant since it has a comparable flavour and consistency. Oat milk provides a respectable amount of low fat and is a milk that is devoid of cholesterol.
The increasing demand for lactose-free goods because of how easily they can be digested is one of the primary drivers boosting the market for oat milk. The increasing number of people who are lactose intolerant is the main factor driving the growth of the oat milk market during the forecast period of 2023â2030. As more people learn about its benefits over other dairy substitutes, the market is likewise expanding. Increased health consciousness and oat milkâs higher fibre content than dairy milk are further factors that are expected to drive market expansion for this product between 2023 and 2030. The firm is hampered by high package maintenance expenses, though. The marketâs potential for growth for oat milk is constrained by easy access to substitutes like almond milk and coconut milk. In developing economies, there is also a lack of knowledge about the advantages, which will impede market expansion over the projection period of 2023â2030.
Additionally, throughout the aforementioned forecast period, the market for oat milk will have plenty of growth potential due to the low prevalence of manufacturers in developing economies.
Key Companies & Market Share Insights
Some of the key players operating in the global oat milk market are PACIFIC FOODS OF OREGON, LLC., Oatly, Califia Farms, Danone, HP HOOD LLC, PepsiCo, HAPPY PLANET FOODS., Drinks Brokers Ltd, Alpro, The Quaker Oats Company, Pureharvest, Danone, The Kraft Heinz Company, Yili Industrial Group Company Limited, China Mengniu Dairy Company Limited, Mother Dairy Fruit & Vegetable Pvt. Ltd., Nestlé, Fonterra Co-operative Group, Lactalis International, Dean Foods, Hiland, Umang Daries Pvt. Ltd., DAIRY FARMERS OF AMERICA, FrieslandCampina, LALA BRANDED PRODUCTS, LLC, Oy Karl Fazer Ab, RISO SCOTTI S.p.A., and Elmhurst Milked Direct LLC among others.
· The worldâs first and largest oat drink manufacturer, Oatly Group AB (Nasdaq: OTLY)(âOatlyâ or the âCompanyâ), today announced a significant partnership with Deutsche Bahn (DB) in Germany: starting on January 1, 2022, the Oatly Barista Edition will be offered to passengers as the first-ever plant-based milk alternative in the onboard catering of ICE and Intercity trains.
· The forward-thinking and creative Happy Planet brand is introducing new varieties of oat milk, including Barista Edition and Chocolate. Over 50% of Americans now buy dairy-free milk, which has had a +425 per cent spike from the previous year and is continuing to soar in popularity.
Global Oat Milk Market Table of Contents
Distribution Channel Outlook
· Supermarkets & Hypermarkets
· Middle East And Africa
o Rest of Middle East and Africa
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