The global oat-based beverage market size is predicted to total USD 1874 million by 2034 and broaden at a CAGR of 8.1% in the forecast period. This surge from USD 787.7 million in 2023 is attributed to the rising consciousness of health and wellness among modern people.
Organic oat beverages are widely purchased products owing to their chemical-free composition and high nutrient retention. The organic segment accounted for a market share of 65% in 2023 and is estimated to grow further, retaining its dominance in the market.
Expansion of the oat-based beverage market during the assessment period is projected to be fueled by several factors, such as innovations in flavor profiles, integration of plant-based beverages in coffee shops through distinctive blends, and the accessibility of these beverages.
High pressure to reduce the environmental impact of dairy products is expected to strengthen the demand for sustainable plant-based alternatives across the globe. Oat-based beverages dominate the plant-based industry owing to their high neutral flavor and fiber content compared to other plant-based beverages.
Increasing prevalence of lactose intolerance and the growing trend of veganism are anticipated to uplift the oat-based beverage market. Leading companies are aligning their strategies with the latest trends and are consistently working towards innovating oat-based beverages to meet evolving consumer preferences.
Key Takeaways from the Market Report:
- The global oat-based beverage market is set to reach USD 1874.0 million by 2034, with a CAGR of 1%.
- Based on source, the organic segment is anticipated to record a CAGR of 8% through 2034.
- Based on product type, the plain/original segment dominates the industry with a market share of 62% in 2023.
- South Korea is anticipated to record a CAGR of 2% between 2024 and 2034.
- Sales in Japan are predicted to total USD 209.1 million by 2034.
“The plant-based beverage industry is booming, but the oat-based beverage segment dominates the industry because of its high versatility, several health benefits, and a relatively good sustainability profile. This will likely boost demand and sales during the next decade,” says a lead analyst at Future Market Insights (FMI).
Who is Winning?
The oat-based beverage industry has a dynamic competitive landscape, with leading players like Oatly Ab, Califia Farms, Alpro, and Quaker Oats Company (PepsiCo) holding significant market shares. Key players are employing different strategies, including flavor innovation, collaboration with influencers, acquisitions and mergers, and partnerships with physical stores to strengthen their place and boost revenues.
Significant investments are being made in the research, development, and technological sectors to enhance the production and increase the shelf life of oat-based beverages. Several companies are utilizing data analytics and AI to improve consumer reach and tailor their products to meet evolving needs.
Industry Updates
- In April 2024, an Estonian oat milk brand, YOOK, entered the Asian and Middle Eastern markets due to rising demand for oat-based beverages in the Middle East.
- In February 2023, Life Health Foods, an India-based brand, launched So Good OAT beverage, a dairy-free, plant-based milk in the country.
Detailed Market Study: Full Report and Analysis
Want More Insights?
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global oat-based beverage market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights based on source (organic and conventional), product type (plain/original and flavored), specialty (gluten-free, dairy-alternative, heart-healthy, and others), and distribution channel (retail stores, online retail, specialty stores, and food service/HORECA) across various regions.
About the Food & Beverage Division at Future Market Insights (FMI)
FMI’s Food & Beverage team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centres in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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