Global Oat Milk Market Soars with Double-Digit Growth, Expected to Reach US$2.6 Bn by 2026
Plant-Based Milk Gains Popularity, Fueled by Dairy-Free and Health-Conscious Trends
The global oat milk market is poised for remarkable growth, projected to achieve a substantial market valuation of US$2.6 billion by the year 2026, exhibiting an impressive CAGR of 11.5% during the forecast period. The surge in demand for oat milk can be attributed to several key factors that are reshaping the landscape of the beverage industry.
Rising Popularity of Dairy-Free Alternatives
In recent years, plant-based milk has gained significant momentum due to its lactose-free properties. With the rise in lactose intolerance cases, including more than 3.3 million individuals in the U.S. in 2020 alone, consumers are increasingly turning to dairy-free products. Oat milk, a prominent member of the plant-based milk family, has gained immense popularity for its low cholesterol levels and gluten-free characteristics, making it a preferred choice for health-conscious consumers.
The Vegan Movement and Environmental Concerns
The global surge in veganism, with the U.K. reporting a 7% vegan population in 2018, has also played a pivotal role in boosting the demand for oat milk. As consumers become more sensitive to environmental issues and animal welfare concerns, the transition to a vegan diet has become a global phenomenon. This shift in dietary preferences is driving the growth of the oat milk market.
Cafés and Food Manufacturers Fueling Demand
Cafés and food manufacturers have been quick to adapt to the growing trend of oat milk consumption. Major players like Starbucks introduced oat milk lattes and other oat milk-based beverages to cater to the demand for non-dairy options. This trend has extended to the food industry, with renowned brands like Cadbury’s launching oat-based milk chocolate products under the HiP (Happiness in Plants) brand, available in various flavors. These products, marked as vegan, lactose-free, and dairy-free, are expected to further propel the global oat milk market.
Conventional Oat Milk Takes the Lead
The global oat milk market is segmented by nature into organic and conventional categories. Currently, the conventional oat milk segment dominates the market due to its wide availability. However, the organic oat milk segment is expected to gain momentum in response to consumer preferences for organic products.
Key Regional Markets
Europe and North America are poised to witness rapid adoption of oat milk in daily diets. Higher awareness of lactose intolerance and a normalized attitude toward packaged items are expected to boost these regional markets. Europe, in particular, is driven by a growing vegan population, increased awareness of animal cruelty, and concerns related to the consumption of dairy products. Asia Pacific is also expected to experience a surge in demand for oat milk, driven by younger populations seeking cleaner labels amid health concerns.
Prominent Players in the Global Oat Milk Market
Key players in the global oat milk market include Oatly AB, SunOpta Inc, Danone SA, Sanitarium Health & Wellbeing, WhiteWave Services, Inc. (Silk), HP HOOD LLC (Planet Oat), Pureharvest, Califia Farms, LLC, Otis Oat M!lk, and Vitasoy International Holdings Limited.
Browse Global Oat Milk Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021-2026 – [2023 UPDATE Available – Forecast 2023-2030*] (By Flavour Coverage, By Nature Coverage, By Packaging Coverage, By Sales Channel Coverage, By Geography, By Company): https://www.fairfieldmarketresearch.com/report/oat-milk-market
Coconut Milk Market: https://www.fairfieldmarketresearch.com/report/coconut-milk-market
Almond Milk Market: https://www.fairfieldmarketresearch.com/report/almond-milk-market
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This press release first seen on Brilad