Oat Milk Market Size, Share & Trends Analysis Report 2020 - 2028
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 period. The U.S. held the largest revenue share in the North American market in 2020. The trend of the consumption of plant-based food and beverages in the country, coupled with a strong foothold of key manufacturers and a rise in vegan consumers, is contributing to the high growth of oat milk in the country.
Gather more insights about the market drivers, restrains and growth of the Global Oat Milk market
The manufacturers such as Oatly are seeking new ways of extracting milk in an attempt to gain unique selling points and differentiate their products in the market. Manufacturers are purchasing high-quality raw materials directly from farmers, allowing the end product to be more cost-effective, thus positively impacting the market growth. The dominant trend towards the consumption of high-protein products among consumers has enhanced the growth of the plant-based milk industry. With the population being inclined towards sports and fitness, the demand for protein-rich beverages has increased, which is further expected to escalate the product demand during the forecast period.
During the outbreak of COVID-19, there were interruptions in supply chain and logistics during the initial phase of the pandemic. However, support from the government to manage the demand for essential products has minimal impact on the growth of plant-based products, such as oat milk. The pandemic exposed the importance of nutrition for the body when it comes to the immune health system and overall health. Customers turned more conscious and eliminated carbohydrates, fats, and sugary drinks and switched to nutritionally balanced and nourishing products, which increased the demand for dairy alternatives.
Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports.
- Functional Drinks Market - The global functional drinks market size was worth USD 204.8 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030. Increasing awareness regarding the health benefits of consuming functional drinks, enriched with health-enhancing ingredients such as amino acids, vitamins, and minerals among others is anticipated to boost market demand in coming years.
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Oat Milk Market Segmentation
Grand View Research has segmented the global oat milk market on the basis of source, product, packaging, distribution channel, and region:
Oat Milk Source Outlook (Revenue, USD Million, 2017 - 2028)
- Organic
- Conventional
Oat Milk Product Outlook (Revenue, USD Million, 2017 - 2028)
- Plain
- Flavored
Oat Milk Packaging Outlook (Revenue, USD Million, 2017 - 2028)
- Cartons
- Bottle
- Others
Oat Milk Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
- Others
Oat Milk Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global oat milk market include:
- Oatly
- Rise Brewing
- Thrive Market
- Happy Planet Foods
- Califia Farms
- The Coca-Cola Company
- Elmhurst
- Pacific Foods
- Danone
- HP Hood LLC
Order a free sample PDF of the Oat Milk Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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