Global Oat Milk Market - 2023-2030

Global Oat Milk Market - 2023-2030

The Global Oat Milk Market reached US$ 3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 6 billion by 2030. The market is growing at a CAGR of 9.8% during the forecast period 2023-2030.

The global oat milk market is experiencing remarkable growth, driven by the escalating demand for plant-based milk alternatives. The market witnesses a substantial expansion as more consumers embrace a plant-based lifestyle and seek alternatives to traditional dairy products. Manufacturers are introducing various flavored and fortified oat milk products to cater to diverse consumer preferences.

These innovations enhance the appeal and versatility of oat milk, attracting more consumers. The expansion of distribution channels plays a crucial role in the growth of the oat milk market. Oat milk products are widely available in supermarkets, convenience stores, health food stores, and online platforms. This improved accessibility contributes to the market's expansion and increased consumer reach.

Market Dynamics

The Rise in Vegan and Lactose Intolerant Population Drives the Market

The market growth is sustained by the increasing adoption of veganism and the rising prevalence of lactose intolerance worldwide. As more individuals follow plant-based diets or discover their lactose intolerance, the demand for oat milk will continue its upward trajectory.

Manufacturers are constantly innovating and improving oat milk formulations to provide a comparable taste and texture to dairy milk. For instance, on May 24, 2022, Ripple Foods, the leader in plant-based dairy, announced the newest addition to its portfolio of plant-based products: Oatmilk + Protein.

The great-tasting, nutritious, and creamy oat milk contained 6 grams of plant-based protein per serving - 3x more protein than most regular oat milk offerings - plus 50% less sugar and 50% more calcium than dairy milk.

Product Innovations in Oat Milk Drive the Market Growth

Manufacturers continuously introduce new flavors, formulations, and variations to cater to diverse consumer preferences and enhance the market's appeal. The market's response to product innovations is evident in the increased shelf space dedicated to oat milk in supermarkets, health food stores, and online platforms.

Manufacturers and brands invest in research and development to continue pushing the boundaries of oat milk product innovations. For instance, in 2020, Arla Foods launched three oat drinks under its new brand, Jord. The company entered the plant-based sector to meet the growing demand for vegan alternatives, enabling it to diversify its product portfolio.

COVID-19 Impact Analysis

The COVID-19 pandemic impacted supply chains and faced disruptions, leading to temporary shortages. The closure of food service establishments also affected the market growth. However, the market experienced a surge in demand as consumers sought non-perishable and plant-based food options. The pandemic accelerated the shift towards e-commerce platforms for oat milk purchases. Consumer focus on health and wellness increased, driving sustained demand for oat milk.

Artificial Intelligence Impact Analysis

Artificial Intelligence (AI) has significantly impacted the global oat milk market, transforming various aspects of the industry. AI algorithms and machine learning models have revolutionized market analysis and prediction, enabling companies to make informed decisions based on accurate data.

AI-powered recommendation systems have personalized marketing efforts, enhancing customer engagement and satisfaction. AI technologies have improved quality control in oat milk production, ensuring that only high-quality products reach the market.

Segment Analysis

The Global Oat Milk Market is segmented based on nature, type, packaging form, distribution channel, and region.

Increased Penetration of Oat Milk Through Supermarkets

The supermarkets and hypermarkets segment emerged as the dominant distribution channel segment, accounting for the largest share in 2022. An improvement in the retail sector globally, coupled with the availability of global brands at these stores, contributed to increasing the penetration of oat milk through supermarkets. Major grocery stores such as Target, Lidl, Kroger, and Walmart offered dairy alternatives, including oat milk. For instance, on March 22, 2021, Target expanded its offerings with its new in-house brand, Favorite Day, by introducing over 700 new products, including vegan ice cream pints and bars.

Alongside their existing non-dairy ice cream pint flavors, such as Vanilla Cake & Cookie Dough and Strawberry Fudge, Target introduced new oat milk bars in three delicious flavors. These chocolate-coated bars came in peanut butter, vanilla salted caramel, and forest fruit & raspberry varieties and were sold in 4-packs.

Geographical Analysis

Rising Demand for Nutritive Food in Asia Pacific

Asia Pacific dominated the market for oat milk and held the largest revenue share in 2022. Lifestyle changes, urbanization, and shifting dietary preferences have led to a rise in the demand for nutritive food in Asia Pacific, which drove the market statistics. A favorable outlook toward the plant-based milk market, driven by the rising prevalence of cardiovascular diseases and the number of weight management programs, was expected to boost the market growth in the region.

Competitive Landscape

The major Global Oat Milk Market players include Danone S.A., Pacific Foods, Elmhurst Milked Direct LLC, Lima Foods Srl, Califia Farms, DuClaw Brewing Co., Chobani, Oatly AB, Oath Drinks, and Nestle S.A.

Why Purchase the Report?
• To visualize the Global Oat Milk Market segmentation based on nature, type, packaging form, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous oat milk market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Oat Milk Market Report Would Provide Approximately 69 Tables, 66 Figures And 135 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies