Food and Services Industry - Market Research Report

  Oat Milk Industry Overview The global oat milk market size was valued at USD 2.23 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 14.2% from 2020 to 2028. The market growth is attributed to the rising vegan population, coupled with health-conscious consumers demanding plant-based milk with high nutritional properties. Issues such as lactose intolerance, allergies, and the rising popularity of low-cholesterol diets have pushed manufacturers to introduce a range of plant-based alternatives. This has benefitted the market for oat milk, which caters to the customers’ demand for being allergic-free, along with offering several health benefits.   With the awareness created by the animal rights organizations as well as animal lovers, a change has been witnessed in the customer buying behavior, which supports animal protection. Thus, a large customer base is shifting towards a vegan diet, which is expected to drive sales of oat milk during the forecast

  Food Grade Alcohol Industry Overview The global food grade alcohol market size was valued at USD 2.2 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. The demand for the product is anticipated to be driven by an increase in demand of spirits and beers in various economies.Growth in the food processing industry coupled with increasing consumption of ethanol is projected to drive the market growth The market growth for the product is expected is driven by increasing application ‘in food and beverage, healthcare and pharmaceuticals, and personal care. Rising consumption of beverages and trade in alcohol are further propelling the demand for the product. Alcohol is an important ingredient for manufacturing extracts, flavors, yeast, and vinegar. The demand for ethanol has increased in the food industry to expand the shelf life of the product, driven by the changing food habits and adoption of ready-to-eat food. The product pla