According to Future Market Insights (FMI), the global oat milk market is estimated to reach US$ 1,544.3 million in 2023. For the next ten years, global sales of oat milk are likely to rise at 13.7% CAGR. This will take the overall market valuation to around US$ 5,631.4 million by 2033.
The oat milk industry is poised for growth, driven by several factors. These include the increasing consumer preference for plant-based alternatives, a growing awareness of health and wellness, sustainability considerations, and ongoing product innovations.
Oat milk has emerged as a popular substitute for traditional milk, owing to its rich nutritional content. Its widespread use in various applications across the food and beverage sector has contributed to its popularity.
The global oat milk industry is expected to benefit from the rising demand for milk substitutes and plant-based alternatives on a global scale.
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Over the next decade, the market is projected to witness expansion, driven by continuous product innovation aimed at differentiating offerings from competitors. Companies are heavily investing in research and development to enhance the taste, texture, and nutritional profiles of oat milk.
To cater to a diverse range of consumer preferences, businesses are experimenting with various appealing flavors such as chocolate, vanilla, caramel, and seasonal variations. This strategy aims to provide a variety of alternatives that capture a broad spectrum of consumer tastes and preferences.
Manufacturers are also focusing on adding functional ingredients into oat milk such as vitamins, minerals, protein, probiotics, and adaptogens to improve its nutritional profile and health benefits.
Addition of extra ingredients provides value to plant-based milk for people looking for certain health benefits.
Companies are now concentrating on developing specialized oat milk compositions to meet specific nutritional requirements and tastes. This includes low-sugar or no-added-sugar options, gluten-free varieties, organic or non-GMO formulas, and options for specific dietary constraints such as nut-free or soy-free oat milk.
Social media and digital marketing play a role in promoting oat milk and influencing consumer preferences. Influencers, online marketing, and user-generated content all contribute to an increase in oat milk’s exposure and popularity among the target population.
Key Takeaways from the Oat Milk Market Report:
- The global oat milk industry size is anticipated to reach US$ 5,631.4 million by 2033.
- Global demand for oat milk is likely to soar at 13.7% CAGR over the forecast period.
- Based on product type, the full fat/regular oat milk segment is anticipated to reach a valuation of US$ 4015.19 million by 2033.
- By flavor, the natural oat milk segment is anticipated to reach a valuation of US$ 3311.26 million by 2033.
- The United States oat milk industry is projected to reach a valuation of US$ 1272.60 million by 2033.
- During the forecast period, it is expected that China market will expand at a CAGR of 5.1%.
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“Oat milk represents an exciting opportunity for both manufacturers and retailers due to its versatile applications and rising end user demand for plant-based beverages. Although challenges still exist around processing techniques, supply chain management, and consumer education, the market is set to expand at a significant rate globally during the assessment period.” – says a lead analyst at Future Market Insights (FMI).
Who is Winning?
Oatly Group AB, Nestle SA, Lam Soon, Alpro, Califia Farms, PureHarvest, Chobani, F&N Life, Donene SA, Urban Platter, Earth’s Own, Sanitarium are key oat milk manufacturers listed in the report.
These companies are concentrating on launching new products and brands into the market to meet end user demand for plant-based milk products. They also use implementing strategies such as advertisements, mergers, partnerships, agreements, acquisitions, and facility expansions to stay relevant in the market.
For instance,
- In March 2021, Only Earth introduced oat milk and coconut milk in India to meet end user demand for milk substitutes.
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Oat Milk Market by Category
By Product Type:
- Regular / Full fat
- Reduced fat
By Flavor:
- Natural
- Flavored
- Fruit
- Chocolate
- Vanilla
- Others
By Format:
- Shelf-stable
- Refrigerated
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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