Oat Milk Market Report 2024 | Growth, Size, Trends and Forecast by 2032

Global Oat Milk Market Statistics: USD 1,966 Million Value by 2032

Summary:  

• The global oat milk market size reached USD 644 Million in 2023. 

• The market is expected to reach USD 1,966 Million by 2032, exhibiting a growth rate (CAGR) of 11.5% during 2024-2032. 

• Europe leads the market, accounting for the largest oat milk market share.

• Conventional accounts for the majority of the market share in the source segment due to the production using traditional methods.

• Plain holds the largest share in the oat milk industry.

• Cartons remain a dominant segment in the market owing to their practicality and convenience.

• Beverages represent the leading application segment.

• Hypermarkets account for the majority of the market share in the distribution channel segment.

• The rising demand for dairy-free alternatives is a primary driver of the oat milk market.

• The expanding variety of product innovations and the growing availability in retail and foodservice channels are reshaping the oat milk market.

Industry Trends and Drivers:  

• Increasing demand for plant-based alternatives:

The increasing consumer demand for plant-based alternatives represents one of the key factors propelling the market growth. Individuals are seeking dairy-free options for various reasons, including health concerns, lactose intolerance, and ethical considerations related to animal welfare. As awareness about the environmental impact of dairy farming is rising, many consumers are choosing oat milk as a sustainable alternative. This shift is encouraging retailers and food manufacturers to expand their plant-based offerings, making oat milk more accessible to a broader audience. In addition, innovative marketing strategies are promoting oat milk as a versatile ingredient in coffee, smoothies, and baking. Consumers prioritizing health and sustainability are driving the demand for oat milk that is aligning with their environment goals and providing essential nutrients and flavor.

• Expanding product variety and innovations: 

The continuous introduction of new product varieties and innovations is positively influencing the market. Manufacturers are developing flavored oat milk options, such as vanilla, chocolate, and barista blends, to cater to diverse consumer preferences. These innovations are enhancing the versatility of oat milk, allowing it to be used in various culinary applications, ranging from coffee drinks to desserts. Moreover, brands are experimenting with different formulations to improve taste, texture, and nutritional profiles, attracting more consumers. As product diversity and innovations are increasing, the oat milk is positioning itself to meet the evolving tastes and demands of consumers, thereby contributing to the growth of the market.

• Growing availability in retail and foodservice channels:

Grocery stores, cafes, and restaurants are recognizing the growing popularity of oat milk among consumers and expanding their offerings to include it. Major retailers are stocking a wide range of oat milk products, making them easily accessible to a broader audience. Besides this, foodservice establishments are incorporating oat milk into their menus, offering it as an option for coffee, smoothies, and baked goods. This increasing presence in retail and dining settings is driving the demand and consumption of oat milk. As accessibility for oat milk is expanding, more consumers are likely to try and adopt it as a staple in their diets, thereby offering a favorable market outlook.

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Oat Milk Market Report Segmentation: 

Breakup By Source: 

• Organic

• Conventional

Conventional represents the largest segment because it is widely produced and readily available.

Breakup By Product:

• Plain

• Flavored

Plain accounts for the majority of the market share due to its versatility and broad appeal.

Breakup By Packaging Type:

• Cartons

• Bottles

• Others

Cartons exhibit a clear dominance in the market as they are lightweight, easy to store, and provide effective protection against light and air.

Breakup By Application:

• Food

• Beverages

Beverages hold the biggest market share owing to the popularity of coffee, smoothies, and other drinks.

Breakup By Distribution Channel:

• Supermarkets and Hypermarkets

• Grocery Stores

• Online Stores

• Others

Hypermarkets dominate the market, driven by their extensive reach and ability to offer a wide variety of products.

Breakup By Region:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa

Europe enjoys the leading position in the oat milk market, which can be attributed to its established demand for plant-based products, growing health consciousness, and increasing environmental awareness among consumers.

Top Oat Milk Market Leaders:

The oat milk market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are: 

• Califia Farms LLC

• Earth's Own Food Company Inc

• Elmhurst Milked Direct LLC

• Happy Planet Foods Inc.

• Oatly AB (Cereal Base Ceba AB)

• Pacific Foods of Oregon LLC (Campbell Soup Company)

• Planet Oat Oatmilk (HP Hood LLC.)

• RISE Brewing Co.

• The Hain Celestial Group Inc.

• Thrive Market Inc.

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