USD 2.5 billion
Oat Milk Market Size, Share, Growth Analysis, By Type(Instant Oatmeal, Steel-Cut Oatmeal, Rolled Oatmeal, Others), By Flavor(Original/Plain, Flavored (e.g., Apple Cinnamon, Maple Brown Sugar)), By Distribution channel(supermarkets, convenience stores, e-commerce platforms, specialty stores), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30B2034 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
97
|Figures:
76
Oat Milk Market Insights
Global Oat Milk Market size was valued at USD 2.5 billion in 2022 and is poised to grow from USD 2.8 billion in 2023 to USD 8.1 billion by 2031, growing at a CAGR of 13.9% in the forecast period (2024-2031).
In recent years, the global oat milk market has been changing consumer preferences towards plant-based and dairy-free alternatives. Oat milk, known for its nutritional benefits and sustainability, has gained significant popularity.
Factors such as increased lactose intolerance awareness, environmental concerns, and a rising vegan population contribute to the market expansion.
Major players are innovating with flavor variations and fortified options, catering to diverse consumer demands. North America and Europe lead the consumption, with Asia-Pacific witnessing rapid growth.
The market is characterized by a competitive landscape, fostering product innovations and strategic collaborations for sustained market prominence.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Instant Oatmilk
Fastest Growth
Flavoured oat milk
Growth Rate
13.9% CAGR
Global Oat Milk Market ($ Bn)
Country Share for North America Region (%)
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Oat Milk Market Segmental Analysis
The global oat milk market is segmented into four major segments i.e. by type, flavor, distribution channels, and region. Based on type, it is divided into instant oatmeal, steel-cut oatmeal, rolled oatmeal, and others. Based on flavor variation, it is bifurcated as original/plain, flavored (e.g., apple cinnamon, maple brown sugar), unsweetened. Based on distribution channels it is segregated into supermarkets, convenience stores, e-commerce platforms, specialty stores, health food outlets, vending machines, and others. Based on region, the market is segmented into Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa.
Analysis by Type
Instant oatmeal offers unparalleled convenience, requiring minimal preparation time compared to other types. The busy lifestyles of consumers, especially in urban areas, drive the dominance of instant oatmeal. The modern on-the-go lifestyle favors quick and easy food options. Instant oatmeal aligns with this trend, as it can be easily prepared and consumed, making it a preferred choice among consumers.
Flavored oatmeal varieties, such as apple cinnamon or maple brown sugar, offer a more indulgent and enhanced taste experience. The demand for unique and enjoyable flavors drives the rapid growth of this segment. The availability of a wide range of flavors caters to diverse consumer preferences. As consumers seek variety and novelty in their food choices, flavored oatmeal becomes a popular and fast-growing segment.
Analysis by Flavour
Maple brown sugar is a classic flavor that resonates with a wide range of consumers. Its popularity stems from the familiar and comforting taste, making it a dominant choice in the market. Consumer surveys and preferences often highlight Maple Brown Sugar as a top choice. The well-established consumer liking for this flavor solidifies its position as the dominant flavor in the oatmeal market.
Exotic fruit medley, with a mix of diverse fruit flavors, caters to the growing consumer demand for unique and exotic taste experiences. The desire for something different and adventurous drives the rapid growth of this flavor type. Companies investing in innovation and marketing strategies for Exotic Fruit Medley oatmeal contribute to its rapid growth. The introduction of new and exciting flavors, coupled with effective promotional efforts, stimulates consumer curiosity and adoption.
Global Oat Milk Market By Type
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Oat Milk Market Regional Insights
North America has a well-established consumer base with a high awareness of health and wellness trends. The preference for nutritious and convenient breakfast options aligns with the oatmeal market, contributing to its dominance. The increasing health consciousness among North American consumers, with a focus on fiber-rich and plant-based foods, drives the demand for oatmeal. Oatmeal's nutritional profile aligns with these dietary preferences, contributing to its dominance.
The Asia-Pacific region is experiencing a surge in health awareness, with consumers seeking nutritious and wholesome breakfast options. Oatmeal's perception as a healthy choice aligns with this trend, driving its rapid growth. As diets diversify in the Asia-Pacific region, there is a growing interest in incorporating Western-style breakfast items. Oatmeal, with its versatility and adaptability to various flavor preferences, taps into this evolving market, making it the fastest growing region.
Global Oat Milk Market By Region
- Largest
- Fastest
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Oat Milk Market Dynamics
Drivers
Increasing Consumer Awareness of Health and Wellness
- The increasing shift towards plant-based and dairy-free alternatives driven by health and environmental considerations. Oat milk, recognized for its nutritional profile and sustainability, has gained prominence among consumers seeking lactose-free and vegan options. The growing awareness of dietary preferences, including lactose intolerance and the rise in veganism, significantly boosts the demand for oat milk. Additionally, the versatile applications of oat milk in various culinary uses, such as coffee and baking, contribute to its popularity. As consumers prioritize health-conscious choices and sustainability, the oat milk market is set to expand further, driven by these converging factors.
Restraints
High Price Volatility due to Fluctuations in the Cost of Raw Materials
- One of the main market restraints is the potential for price volatility due to fluctuations in the cost of raw materials, such as oats. Variability in oat crops, influenced by weather conditions and other environmental factors, may impact production costs, potentially leading to pricing challenges for oat milk products. Another restraint lies in the potential for supply chain disruptions, considering the global nature of the oat milk market and dependencies on sourcing quality oats. Additionally, competition with other plant-based milk alternatives and potential taste preferences of consumers may pose challenges for widespread adoption. As the market continues to grow, addressing these restraints requires strategic solutions to ensure stable pricing, resilient supply chains, and effective differentiation from alternative products.
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Oat Milk Market Competitive Landscape
The competitive environment of the oat milk market is dynamic and characterized by the presence of key players vying for market share and emerging entrants seeking to capitalize on the growing demand for plant-based milk alternatives. The leaders often engage in product innovations, expanding flavor options and introducing fortified oat milk variations to cater to evolving consumer preferences. Additionally, partnerships and collaborations with cafes, restaurants, and retailers contribute to market visibility. The competitive dynamics are further intensified by the entry of new players exploring niche segments and geographical expansions, fostering continuous innovation and strategic maneuvers to gain a competitive edge in the dynamic oat milk market.
Top Player’s Company Profiles
- Oatly
- Planet Oat
- Elmhurst 1922
- Ripple
- MALK Organics
- Mooala
- Rebel Kitchen
- Minor Figures
- Happy Planet Foods
- Earth's Own
- Provamel
- Vitasoy
- Plenish
- Evive
- Rude Health
- The Collective
- Oat Yeah
Recent Developments
- In December 2023, Framptons, the contract manufacturer, ensured its continuity through acquisition by the Swedish investment firm Profura. The Gothenburg-based company acquired the co-packer specializing in milk and plant-based drinks, intending to position it as a key player in the UK's oat milk market. The transaction details, including the sum involved, have not been disclosed.
- In January 2023, Califia Farms, a prominent brand in premium plant-based beverages, extended its acclaimed range of dairy-free offerings by introducing USDA certified Organic Oat Milk and Almond Milk. Crafted with only three simple ingredients—purified water, sea salt, and oats/almonds—and devoid of oils or gums, these new products are designed to cater to consumers desiring simplicity in ingredients, all while maintaining an affordable price point.
Oat Milk Key Market Trends
Rising Demand for Flavored and Specialty Oat Milk Variants
- The increasing demand for flavored and specialty oat milk variants, with companies introducing diverse flavors such as vanilla, chocolate, and matcha to cater to diverse taste preferences. Sustainability is a key focus, driving the market towards eco-friendly packaging and sourcing practices. The oat milk market is also witnessing a surge in product innovations, including oat milk-based yogurt and ice cream, expanding the product range. Additionally, strategic partnerships between oat milk manufacturers and cafes or coffee shops contribute to the beverage's popularity as a dairy milk substitute in coffee beverages.
Oat Milk Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global oat milk market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is driven by a surge in demand for plant-based alternatives, fueled by health and environmental considerations. However, potential price volatility due to raw material fluctuations and competition with other plant-based options pose restraints. Product analysis reveals a growing trend in flavored and specialty oat milk variants, expanding beyond traditional beverages to include yogurt and ice cream. Regionally, North America dominates, propelled by a health-conscious consumer base. Key trends encompass sustainability practices and strategic partnerships with cafes. Overall, the market thrives on innovation and consumer awareness, poised for sustained growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.5 billion |
| Market size value in 2031 | USD 8.1 billion |
| Growth Rate | 13.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Oat Milk Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Oat Milk Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Oat Milk Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Oat Milk Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Oat Milk Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Oat Milk Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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