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Oat Milk Global Market Report 2023
Major players in the oat milk market are Thrive Market, Inc., The Hain Celestial Group, Inc., Rise Brewing, PepsiCo (US), Pacific Food, Oatly AB, Happy Planet Foods (US), Elmhurst, Earth’s Own Food Company Inc.
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oat Milk Global Market Report 2023" - https://www.reportlinker.com/p06284384/?utm_source=GNW
, Danone, and Califia Farms.
The global oat milk market grew from $2.76 billion in 2022 to $3.05 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The oat milk market is expected to grow to $4.21 billion in 2027 at a CAGR of 8.4%.
The oat milk market consists of sales of oat milk coffee creamer, oat milk bottled coffee drinks, oat milk ice cream, oat milk yogurt.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
Asia-Pacific was the largest region in the oat milk market in 2022.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 and Africa.
The main sources of the oat milk market are organic and conventional.Organic is produced by organic methods.
This is produced without the use of synthetic chemicals, which do not contain any genetically modified organisms.The different types include plain oat milk and flavoured oat milk and involve various packaging forms such as cartons and bottles.
It is employed in several sectors, including food and beverages, nutraceuticals, baby food, personal care, and pharmaceuticals.
The rise in the vegan population is expected to propel the growth of the oat milk market going forward.Veganism is the practise 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, according to Veganuary, a non-profit organization, more than 500,000 people have joined the vegan community, surpassing 2020’s total of 400,000 people. Therefore, the rising vegan population drives the growth of oat milk.
Product innovations are shaping the oat milk market.Major companies operating in the oat milk sector are focused on developing innovative products to meet customer demand and strengthen their position.
For instance, in June 2020, Gold&Green, a Finland-based food technology company, launched 100% plant-based protein pulled oats.Pulled Oats capitalises on the rising popularity of a plant-based diet and will attract vegans, vegetarians, pescatarians, flexitarians, and pretty much everyone attempting to eat less meat or looking for tasty and varied protein substitutes.
Pulled oats have a unique fibrous texture that integrates flavors well and can be seasoned to taste.
In December 2021, Fazer Group, a Finland-based food company that offers plant-based drinks, acquired Trensums Food AB for an undisclosed amount.This acquisition helps the company to achieve its goal of becoming a leader in the Northern European market.
Trensums Food AB is a Swedish-based company that emphasises plant-based foods, particularly oat-based derivatives.
The countries covered in the oat milk market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The oat milk market research report is one of a series of new reports that provides oat milk market statistics, including oat milk industry global market size, regional shares, competitors with an oat milk market share, detailed oat milk market segments, market trends and opportunities, and any further data you may need to thrive in the oat milk industry. This oat milk market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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