In the recent edition of the oat drink market report, Future Market Insights (FMI) finds growth prospects to go as high as 7.5% from 2024 to 2034. With the emergence of health-conscious consumers, key oat drink manufacturers are investing in the development of gluten-free products. Going by this pattern, demand could expand and equate to a market valuation of USD 1,684.5 million by 2034. Sales of oat drinks hold a current valuation of USD 799.4 million in 2024
The market for oat drinks is growing quickly because of these new, healthier options. Improved oat milk beverages are currently being made by some businesses. Furthermore, manufacturers are using natural sweeteners like honey or agave in place of artificial sweeteners and sugar when making oat beverages. Organic or non-GMO oat drinks are getting more and more well-liked.
Oat cereal drinks are gaining popularity in the oat beverage sector. This trend is influenced by the increase in popularity of plant-based beverages, the creation of oat-based smoothies, and the rise in demand for oat milk. Particularly oat milk has gained popularity because of its nutty flavour and creamy texture. People are exploring oat cereal drinks as a dairy-free substitute due to the growing trend of plant-based drinks.
Key Takeaways
- By 2033, the United States is likely to dominate the oat drinks market, with a size of US$ 293.6 million.
- The oat drinks market was significantly expanding, with a size of US$ 689.8 million in 2022.
- There is a market opportunity of US$ 829.8 million in absolute terms, driven by the clean labels.
- The expansion in China is anticipated to expand at an adequate CAGR of 9.3% by 2033.
- By 2033, Australia is likely to expand in the oat drinks market, with a size of US$ 76.6 million.
- By 2033, the oat drinks sector is likely to increase in Brazil, with a size of US$ 73.4 million.
- The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 6.9% by 2033.
- Based on product type, the regular full-fat segment led the market CAGR of 7.6% by 2033.
- Based on flavor, the natural/unflavored continues to dominate the sector during the forecast period, with a CAGR of 7.1%
Key Strategies in the Industry
Manufacturers like Oatly are looking for novel methods of milk extraction to establish distinctive selling points and set their products apart from the competition. The end product is more affordable because manufacturers’ direct purchases of premium raw materials from farmers favor market expansion.
Due to the growing set of startups and their increased need for convenience and health benefits, there is an increase in the demand for RTD tea and coffee in the startup market. The oat drinks industry consequently gains from this.
Lastly, the oat drinks sector has seen significant innovation spurred by the development of new technology. Businesses have created goods with better shelf life, enhanced carbonation, and innovative packaging technologies that enable greater customer convenience.
Recent Developments
- Pure Harvest Farms collected US$ 180.5 million in June 2022 from international investors to support its growth.
- Fazer Group purchased Kaslink in June 2019, expanding its lineup of oat-based products on a global scale.
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Key segments
By Flavour:
- Natural/Unflavoured
- Flavored
By Product Type:
- Regular/Full Fat
- Reduced Fat
By End Use Application:
- Food Services
- Retail Services
By Nature:
- Organic
- Conventional
By Format:
- Shelf-stable
- Refrigerated
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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