According to forecasts, the oat drinks market will be worth US$ 741.5 million in 2023 and US$ 1.6 billion in 2033, growing at a 7.8% CAGR. Initially, between 2016 and 2022, the global market was growing at a CAGR of 6.2%.
One of the main market-moving factors for oat drinks is the availability of new, healthier options. For instance, several businesses are now offering oat milk-based beverages that have been fortified with additional vitamins and minerals.
Oat beverages can also be found from some producers who employ natural sweeteners like honey or agave as opposed to sugar or artificial sweeteners. Additionally growing is the market for non-GMO or organically grown oat beverages.
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The demand for oat cereal drinks has increased in the oat drinks industry. The popularity of oat milk, the appearance of oat-based smoothies, and the rising interest in plant-based beverages have contributed to this trend. Due to its creamy texture and nutty flavor, oat milk, in particular, has grown in popularity in recent years. Due to the rising desire for plant-based beverages, individuals are experimenting with oat cereal drinks as a substitute for dairy-based beverages.
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%
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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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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