Overview and Scope
Oat milk is a plant-based milk made from liquefied oats. It is a lactose-free drink that is widely used as a replacement for dairy milk in the preparation of coffee and tea, various smoothies, and health drinks. Oats are easily cultivated, so this makes the products more economical and available at any part of the time.
Sizing and Forecast
The oat milk market size has grown strongly in recent years. It will grow from $2.99 billion in 2023 to $3.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to dairy alternatives rise, lactose intolerance awareness, innovation in dairy-free products, retail and cafe adoption, changing consumer perceptions.
The oat milk market size is expected to see strong growth in the next few years. It will grow to $4.69 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to clean label appeal, functional and fortified beverages, youth market influence, social media and influencer impact, retail and cafe expansion. Major trends in the forecast period include plant-based diet adoption, environmental sustainability, vegan and dairy-free movement, innovation and product diversity, retail and cafe adoption.
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The oat milk market covered in this report is segmented –
1) By Source: Organic, Conventional
2) By End User: Food & Beverages, Nutraceuticals & Baby Food, Personal Care, Pharmaceuticals
3) By Product: Plain, Flavored
4) By Packaging Form: Carton, Bottle
Asia-Pacific was the largest region in the oat milk market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the oat milk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the vegan population is expected to propel the growth of the oat milk market going forward. Veganism is the practice of avoiding the use of animal products, particularly in the diet, as much as possible. There is rapid growth in the vegan population for various reasons, which include weight management, health concerns, animal welfare, and others. Oat milk offers more vitamin D than cow’s milk, which provides a variety of health benefits, including bone and dental health, as well as immune system endurance. For instance, in 2023, according to reports published by VeganBites, a US-based plant-based provider of vegan lifestyle content and information, the US will have 327 million inhabitants, so there will be approximately 19,632,000 vegans. This number is expected to rise in the future. Therefore, the rising vegan population drives the growth of oat milk.
Key Industry Players
Major companies operating in the oat milk market report are Rise Brewing Co, PepsiCo Inc., Danone North America, The Quaker Oats Company, The Hain Celestial Group Inc., Chobani LLC, Pacific Foods of Oregon Inc., Alpro NV, Thrive Market Inc., Oatly AB, Califia Farms LP, Earth’s Own Food Company Inc., Ecotone SAS, Planet Oat, Minor Figures Ltd., Orgran, Elmhurst 1925 Inc., Natursoy S.L., Vly Foods GmbH, MALK Organics, Rude Health Foods Ltd., Plant Based Products Europe BV, Provamel, Happy Planet Foods Inc., Good & Gather, YooMoo Ltd., Plenish Cleanse Ltd., The Naked Oats Company Ltd., O’Milk Belgium BVBA, A. Vogel Bioforce AG
The oat milk market report table of contents includes:
1. Executive Summary
2. Oat Milk Market Characteristics
3. Oat Milk Market Trends And Strategies
4. Oat Milk Market – Macro Economic Scenario
5. Global Oat Milk Market Size and Growth
…..
32. Global Oat Milk Market Competitive Benchmarking
33. Global Oat Milk Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Oat Milk Market
35. Oat Milk Market Future Outlook and Potential Analysis
36. Appendix
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