The global oatmeal market is experiencing substantial growth, with an anticipated value of USD 5.3 billion in 2022, projected to reach USD 10.2 billion by 2032, marking a remarkable CAGR of 6.8%. This surge is fueled by consumers’ increasing preference for nutritious breakfast options, driven by hectic lifestyles and growing health awareness. The market has witnessed significant expansion, marked by the entry of various players and product launches, catering to the rising demand for healthy and convenient meal solutions.
The demand for oatmeal is propelled by several factors, including its health benefits, such as high fiber and protein content, which contribute to muscle and organ health. Additionally, shifting dietary patterns towards nutritious meals and the rising popularity of ready-to-eat and healthy breakfast foods are driving oatmeal consumption globally. As consumers become more health-conscious, the demand for oatmeal is expected to continue rising, especially in emerging economies.
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Key factors driving the growth of the oatmeal market include:
- Health Awareness and Nutritional Benefits: Oatmeal is recognized for its nutritional value, containing antioxidants, vitamins, protein, and fiber, making it a popular choice for health-conscious consumers seeking nutritious meal options.
- Shifting Dietary Patterns: Changing consumer preferences towards healthier breakfast options, coupled with the availability of a wide variety of oatmeal products at competitive prices, are driving market growth, particularly in the ready-to-eat food segment.
- Rising Demand in Emerging Economies: Increasing awareness of the health benefits of oatmeal consumption in developing countries, coupled with rising disposable incomes, is fueling market expansion and presenting new growth opportunities.
- Organic Oatmeal Segment: The organic oatmeal segment is poised for significant growth, driven by consumer preferences for pesticide-free and environmentally friendly food products, particularly in developed regions like North America and Europe.
Oatmeal Market Growth Driven by Consumers’ Changing Lifestyles
As the world is evolving, so is the consumers’ lifestyle. Presently, most individuals are involved in strenuous activities that make them lazy and unable to cook. The food and beverage industry has focused on this consumers’ sentiment by innovating time-saving food products like oatmeal to globally foster the growth of its market. Consumers spend the majority of their earnings on healthy time-saving food items with high nutritional value. The global oatmeal market, a segment under the convenience food category, is expected to grow tremendously during the forecast period as the food and beverage industry grows.
In addition, the growing popularity among consumers regarding the health benefits offered by plant-based products is suspected to foster the growth of the industry. Veganism is on the rise in the Asia Pacific and North America and is expected to drive the global oatmeal market’s growth since it’s a cereal product. Furthermore, manufacturers are adopting new business strategies such as merging acquisition, consolidation, and product innovation to fuel the industry’s growth and expand its products to regions where they have no foothold.
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Key Takeaways for Investors:
For investors targeting the oatmeal market, several key takeaways emerge:
- Focus on Health and Nutrition: Investing in oatmeal brands that emphasize health and nutrition benefits can capitalize on growing consumer demand for nutritious meal options, positioning companies for long-term success in the competitive market landscape.
- Expansion in Emerging Markets: Exploring opportunities in emerging economies with rising health awareness and disposable incomes can unlock new growth avenues and enhance market penetration for oatmeal products.
- Innovation and Product Differentiation: Investing in research and development initiatives focused on product innovation and differentiation, such as organic and flavored oatmeal variants, can drive brand differentiation and market competitiveness.
- E-commerce and Digital Marketing: Leveraging e-commerce channels and digital marketing strategies to reach a wider consumer base and enhance brand visibility can drive sales growth and market expansion, particularly in regions with high digital literacy rates.
- Sustainable and Environmentally Friendly Practices: Supporting oatmeal brands that prioritize sustainable and environmentally friendly production practices, such as organic farming and minimal processing, can appeal to environmentally conscious consumers and foster brand loyalty.
Competitive Landscape
To capture a large share in the market and be competitive, manufacturers in the oatmeal market employ techniques such as product development and upgrades, as well as mergers and acquisitions.
- Happi Foodi debuted a new range of oatmeal goods in the United States in September 2020 to broaden its existing meal alternatives.
- FREEE, the gluten-free flour and food business, announced new organic, gluten-free porridge oats in October 2019 to capitalise on the expanding market for gluten-free and organic products in the UK.
- August 2019: RXBAR, a major protein bar producer, announced its entry into the breakfast cereal area with the introduction of RX A.M. oats, a premium oatmeal choice with added protein. It comes in a variety of flavours.
- Path of Life announced the arrival of frozen steel-cut oats in two flavours in April 2021. Organic Berry Steel Cut Oatmeal and Organic Apple Cinnamon Steel Cut Oatmeal are the two goods
- In August 2021, Kreatures of Habit, a prominent functional food company, introduced The PrOATagonist, plant-based, gluten-free oatmeal with a variety of nutrients and compositions. Furthermore, three varieties, including vanilla, blueberry banana, and chocolate, are expected to be released.
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Oatmeal Market by Category
By Nature, Oatmeal Market is Segmented as:
- Organic
- Conventional
By Type, Oatmeal Market is Segmented as:
- Steel Cut Oats
- Regular Rolled Oats
- Quick Oats
- Instant Rolled Oats
- Whole Oat Grains
- Scottish Oats
- Others
By Sales Channel, Oatmeal Market is Segmented as:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region, Oatmeal Market is Segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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