Oat Milk Market garnered $360.5 million in 2019, and is projected to generate $995.3 million by 2027, witnessing a CAGR of 13.4% from 2021 to 2027.The report offers anextensive analysis of changing market dynamics, top winning strategies, major investment pockets, key segments, value chain, and competitive scenario.
Trend of vegan diet, diversity in plant-based beverages, and prevalence of lactose intolerance and milk allergy drive the growth of the global oat milk market. However, discrimination against plant milk via labeling and tax regulations restrain the market growth. On the other hand, prominence of novel functional beverages and untapped potential from the developing countries present new opportunities in the coming years.
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Covid-19 Scenario:
The demand rose during the Covid-19 pandemic as consumers were inclined to opting foods that would strengthen their immune system. The however, manufacturing activities of oat milk have been hindered as factories were closed down with implementation of the lockdown. There has been a supply-demand gap as transportation activities were affected during the lockdown in many countries. Furthermore, online channels banned delivery of goods and supermarkets were shut down. As governments relaxed lockdown restrictions, the production resumed, the supply chain got back on track, and supermarket stores opened. The supply-demand gap is expected to narrow down.
The report provides detailed segmentation of the global oat milk market based on source, flavor, distribution channel, and region.
By distribution channel, the supermarket & hypermarket segment held the largest market share in 2019, contributing to nearly two-fifths of the global oat milk market, and is expected to maintain its lead position by 2027. However, the online retail segment is projected to maintain the highest CAGR of 14.1% during the forecast period.
By source, the conventional segment accounted for the highest market share in 2019, contributing to more than four-fifths of the total market share, and is projected to maintain its dominance in terms of revenue during the forecast period. However, the organic segment is estimated to grow at the highest CAGR of 14.7% from 2021 to 2027.
However, Asia-Pacific, followed by North America, is estimated to manifest the fastest CAGR of 16.7% from 2021 to 2027, owing torapid increase in demand and acceptance of plant-based food & beverages with surge in consumer spending, huge population base, and rise in health consciousness.However, Europe contributed to the highest share in terms of revenue of the global oat milk market, holding around two-fifths of the total market share in 2019, and will continue to dominate throughout the forecast period. This is due toa considerable increase in consumption of plant-based beverages, lactose intolerant population, and the trend of veganism.
Major players of the global oat milk market analyzed in the research includeCalifia Farms, LLC, Pacific Foods of Oregon, LLC. (Pacific foods), Hain Celestial (Dream), HP HOOD LLC. (Plant Oat), Danone (Silk), Elmhurst Milked Direct LLC, Cereal Base Ceba AB (Oatly), Happy Planet Foods Inc., RISE Brewing Co., and Earths Own Food Company.
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