May 22, 2024
Oat Drink Market

Oat Drink Market Is Estimated To Witness High Growth Owing To Rising Health Consciousness Among Consumers

The oat drink market comprises non-dairy beverages made from oats, which are widely used as an alternative to dairy milk. Oat drink contains lesser fat and carb content than regular milk, while being higher in protein, dietary fiber, and certain vitamins and minerals. It is naturally creamy and thick in texture, making it a popular substitute for people intolerant to lactose in dairy milk. The growing vegan and flexitarian population has immensely contributed to the increasing demand for plant-based milk alternatives like oat drink.

The Global oat drink market is estimated to be valued at US$ 854.21 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the oat drink market are HSIL Ltd, Cera Sanitaryware Ltd., Roca Sanitario, S.A., RAK Ceramics, Duravit AG, Toto Ltd., Jaquar, Golf Ceramics Ltd., Kajaria Ceramics Limited, H & R Johnson, and Villeroy Boch Group. These players are focusing on new product launches, partnerships, and geographical expansions to gain a competitive edge in the market.

Regarding key opportunities, the rising popularity of organic and plant-based products among health-conscious consumers presents significant prospects. Moreover, innovations and functional variants like protein-fortified oat drinks are strengthening the product portfolio. Furthermore, growing environmental concerns are positively impacting the demand for sustainable plant milk options.

Globally, North America leads the oat drink market due to high health awareness and easy availability. However, Asia Pacific is emerging as a highly lucrative region attributed to growing GDP, disposable incomes, and shifting preferences towards western dietary trends. Leading players are investing heavily in APAC nations like India and China to tap into huge untapped potential.

Market drivers
The primary Oat Drink Market Growth  driver is rising health consciousness among consumers. Oat drink is gaining massive traction as a healthier alternative due to being naturally rich in vitamins, minerals, fiber and proteins, while containing fewer calories and fats than dairy milk. Moreover, increasing instances of lactose intolerance, milk allergies and vegan lifestyle adoption are propelling the need for milk substitutes, thereby fueling oat drink sales.

PEST Analysis
Political: The oat drink market is influenced by regulations related to food safety, health claims, and eco-friendly sustainable packaging.

Economic: Rising disposable incomes and consumer preference for healthy plant based alternatives is driving demand for oat drinks globally.

Social: Oat drinks are gaining popularity as a healthy convenient option for breakfast and snacking. They appeal to the changing dietary preferences and busy lifestyles especially among millennials and Gen Z consumers.

Technological: Advancements in processing and packaging technology have improved the taste, texture and shelf life of oat drinks. The usage of Tetra Pak cartons and aluminum cans provide better barrier protection versus traditional plastic bottles.

The geographical regions where the oat drink market is concentrated in terms of value include North America and Europe. Developed markets in these regions have seen increasing adoption as consumers look for non dairy milk substitutes. However, growth potential exists in Asia Pacific and Latin America as awareness about plant based beverages spreads in developing countries.

The fastest growing region for the oat drink market is expected to be Asia Pacific due to rising health consciousness, expanding middle class and international influx of oat drink brands. China in particular presents substantial opportunities as one of the largest markets globally for packaged food and beverages. Population factors and changing urban lifestyles are leading to adoption of Western dietary trends at a swift pace in Asia.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it